Moving the Needle for Greater Impact - Message from Akihiko Nishio Vice President Development Finance

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00:27 I am pleased to launch the 2020 Trust Fund annual report

00:32 titled Moving the Needle

00:34 for Greater Impact.

00:35 The World Bank Group envisions a world

00:38 in which no one lives in extreme poverty

00:41 and everyone shares in its prosperity.

00:44 Trust funds are a powerful tool for driving progress towards this vision

00:48 by complementing and scaling up

00:51 the impact of World Bank Group funded operations.

00:54 Trust funds have become an integral part of aid architecture

00:58 with flexible approaches to utilize scarce development resources

01:03 to respond to shifting global priorities.

01:06 By leveraging the World Bank Group's global convening power

01:10 and local presence.

01:11 Trust funds provide timely and sizable financial resources

01:15 to address development priorities.

01:18 Trust funds help countries move the needle

01:21 and get closer to achieving the sustainable development goals.

01:25 The new trust fund portfolio with fewer

01:28 larger umbrella programs

01:29 is designed to be more efficient,

01:32 and it is strongly aligned with our strategic priorities

01:35 as well as those of our development partners.

01:38 Umbrella programs help achieve better results

01:41 and greater development outcomes

01:44 for client countries.

01:45 They complement the support of IDA,

01:47 IBRD,

01:49 IFC and MIGA.

01:51 The bank is also implementing a

01:53 new management framework for financial intermediary funds

01:57 to reduce fragmentation and risks

01:59 and increase oversight

02:01 while ensuring alignment with our priorities and the SDGs.

02:06 We are living in a time marked by unprecedented challenges

02:11 brought about by the COVID-19 pandemic.

02:14 Our trust funds and financial intermediary funds

02:17 play a key role in contributing to the global response to the pandemic,

02:22 supporting vulnerable communities around the world,

02:25 and extending the World Bank Group's reach for

02:28 building a resilient future for our clients.

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I am pleased to launch the 2020 Trust Fund annual report titled Moving the Needle for Greater Impact. The World Bank Group envisions a world in which no one lives in extreme poverty and everyone shares in its prosperity. Trust funds are a powerful tool for driving progress towards this vision by complementing and scaling up the impact of World Bank Group funded operations. Trust funds have become an integral part of aid architecture with flexible approaches to utilize scarce development resources to respond to shifting global priorities. By leveraging the World Bank Group's global convening power and local presence. Trust funds provide timely and sizable financial resources to address development priorities. Trust funds help countries move the needle and get closer to achieving the sustainable development goals. The new trust fund portfolio with fewer larger umbrella programs is designed to be more efficient, and it is strongly aligned with our strategic priorities as well as those of our development partners. Umbrella programs help achieve better results and greater development outcomes for client countries. They complement the support of IDA, IBRD, IFC and MIGA. The bank is also implementing a new management framework for financial intermediary funds to reduce fragmentation and risks and increase oversight while ensuring alignment with our priorities and the SDGs. We are living in a time marked by unprecedented challenges brought about by the COVID-19 pandemic. Our trust funds and financial intermediary funds play a key role in contributing to the global response to the pandemic, supporting vulnerable communities around the world, and extending the World Bank Group's reach for building a resilient future for our clients.

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worldbank/Akihiko Nishio.20-10-2020 (2)

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Akihiko Nishio.20 10 2020 (2)

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Akihiko Nishio.20 10 2020 (2)

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