In 1990, the World Bank established its first programmatic trust fund – the Policy and Human Resources Development (PHRD) Fund, entirely financed by Japan. Since its inception, the Government of Japan has contributed $3.4 billion to PHRD, with over 4,500 projects in 150 countries. The PHRD fund was established to help boost the skills, know-how, and expertise of government institutions in developing countries so they can better address their key development challenges. The PHRD has remained consistently relevant over these 30 years because of its responsiveness to changing development needs and priorities. The program also focuses on country specific challenges and global public goods such as disaster reduction, disability, universal health coverage and governance. The program has been instrumental in leveraging more resources, enabling expansion or implementation of new projects. Success stories from PHRD projects have also informed ideas for new projects. Going forward, the fund will maintain and strengthen its flexible approach to changing development challenges in agriculture and rural access to energy supply, monitoring and evaluation for better development results, Universal Health Coverage for all, and pandemic preparedness.
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