Launching the Global Governance Program

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00:08 And let's not mince words.

00:10 We need to deal with the cancer of corruption.

00:14 In country after country,

00:16 it is the people

00:17 who are demanding action on this issue.

00:21 They know that corruption diverts resources from the poor to the rich.

00:25 Increases the cost of running businesses,

00:28 distorts public expenditures,

00:30 and deters foreign investors.

01:01 A coherent and coordinated approach keeping countries'

01:05 PFM reform plan at the center

01:07 have allowed Bangladesh public financial management institutions

01:12 to drive prospective reforms successfully.

01:15 The PFM systems efficiently executed

01:18 elements of the government's COVID-19 response and

01:22 continue to benefit citizens.

01:33 One of the first global practices we turned to was the governance practice

01:37 as we got to work in finding solutions to rebuild Somalia's core institutions,

01:43 and this was not an easy task after a period of more than two decades of conflict.

01:49 The operation took an innovative results.

01:51 approach and included

01:53 very practical steps to reform financial management

01:57 systems to strengthen intergovernmental fiscal relations,

02:01 and ultimately to scale up education and health services at the

02:04 federal state level where service delivery had been absent for decades.

02:11 Trust funds have helped support us in the Africa region

02:15 in developing knowledge frontiers and practical tools for supporting

02:20 uh governance work across the continent,

02:23 and they couldn't be more important.

02:25 Whether it's work on supporting tax administration.

02:28 Public financial management,

02:31 legal judicial reforms,

02:32 and anti-corruption,

02:34 or our work on financial accountability.

02:37 Trust funds

02:38 have long helped us

02:40 advance a very strong governance agenda

02:43 and to help us fulfill the role of poverty reduction

02:47 and improve prosperity across the Africa region.

02:54 Now we are undertaking with the

02:57 help of the World Bank

03:01 to develop a new version of this open data portal.

03:05 Also,

03:05 we undertook many training

03:08 sessions on open data

03:10 and we trained many

03:15 people who are working on the open data within the ministries and they are

03:19 managing data within the ministries.

03:22 to scale up our open government work,

03:25 notably for the 4th National Action Plan

03:28 for 2202222,

03:31 and also by leveraging

03:32 on the $100 million USD GovTech operation.

03:36 GovTech can further incentivize open government reforms

03:40 as disbursement linked indicators

03:42 and demonstrates how trust fund resources can

03:45 be leveraged as complementary investment operations.

03:50 Trust funds can support with the provision of technical and financial support,

03:54 but they can also help build political authorization.

03:59 They can raise the visibility of governance reformers,

04:02 and they can support country reformers in developing locally led,

04:07 agile,

04:08 politically astute strategies.

04:10 We at the World Bank value our partnership with donors.

04:15 And one way of expressing this strong partnership is through trust funds,

04:19 and we have been very successful with all of you

04:22 to pursue many development projects.

04:25 Also with trust funds,

04:27 we can do better

04:28 and be more strategic

04:30 and more results oriented.

04:32 This is one of the reasons

04:34 why we have initiated trust fund reforms,

04:37 and one of the key components of trust fund reform

04:41 are umbrella trust funds.

04:44 And the global practice has embraced this reform enthusiastically.

04:49 They have already done this in the tax area.

04:52 And are now embarking on two important projects,

04:57 one on the governments and institutions umbrella trust fund,

05:01 and one on financial management.

05:03 We need to serve

05:05 our countries better,

05:06 get better results,

05:08 and trust funds will be a key part

05:11 of that strategy.

05:13 So thank you for all your support

05:16 in the past

05:17 and hopefully in the future.

05:19 Thank you.

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transcript

And let's not mince words. We need to deal with the cancer of corruption. In country after country, it is the people who are demanding action on this issue. They know that corruption diverts resources from the poor to the rich. Increases the cost of running businesses, distorts public expenditures, and deters foreign investors. A coherent and coordinated approach keeping countries' PFM reform plan at the center have allowed Bangladesh public financial management institutions to drive prospective reforms successfully. The PFM systems efficiently executed elements of the government's COVID-19 response and continue to benefit citizens. One of the first global practices we turned to was the governance practice as we got to work in finding solutions to rebuild Somalia's core institutions, and this was not an easy task after a period of more than two decades of conflict. The operation took an innovative results. approach and included very practical steps to reform financial management systems to strengthen intergovernmental fiscal relations, and ultimately to scale up education and health services at the federal state level where service delivery had been absent for decades. Trust funds have helped support us in the Africa region in developing knowledge frontiers and practical tools for supporting uh governance work across the continent, and they couldn't be more important. Whether it's work on supporting tax administration. Public financial management, legal judicial reforms, and anti-corruption, or our work on financial accountability. Trust funds have long helped us advance a very strong governance agenda and to help us fulfill the role of poverty reduction and improve prosperity across the Africa region. Now we are undertaking with the help of the World Bank to develop a new version of this open data portal. Also, we undertook many training sessions on open data and we trained many people who are working on the open data within the ministries and they are managing data within the ministries. to scale up our open government work, notably for the 4th National Action Plan for 2202222, and also by leveraging on the $100 million USD GovTech operation. GovTech can further incentivize open government reforms as disbursement linked indicators and demonstrates how trust fund resources can be leveraged as complementary investment operations. Trust funds can support with the provision of technical and financial support, but they can also help build political authorization. They can raise the visibility of governance reformers, and they can support country reformers in developing locally led, agile, politically astute strategies. We at the World Bank value our partnership with donors. And one way of expressing this strong partnership is through trust funds, and we have been very successful with all of you to pursue many development projects. Also with trust funds, we can do better and be more strategic and more results oriented. This is one of the reasons why we have initiated trust fund reforms, and one of the key components of trust fund reform are umbrella trust funds. And the global practice has embraced this reform enthusiastically. They have already done this in the tax area. And are now embarking on two important projects, one on the governments and institutions umbrella trust fund, and one on financial management. We need to serve our countries better, get better results, and trust funds will be a key part of that strategy. So thank you for all your support in the past and hopefully in the future. Thank you.

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