In 2017, the WBG embarked on an ambitious IBRD/IDA trust fund and FIF reform agenda to ensure that the two instruments evolve with the shifting internal and external context and remain fit for purpose. As part of this reform process, IFC is also evaluating its trust fund portfolio to effectively support the implementation of the IFC 3.0 strategy embedded in the WBG Forward Look vision.
The key focus of the ongoing IBRD/IDA trust fund reforms is to improve strategic alignment, increase efficiency, and enhance oversight of the trust fund portfolio to deliver transformative solutions for our clients and provide the best value for our donors. Key measures include reducing the fragmentation of the portfolio with the introduction of Umbrella 2.0 Programs, better aligning trust funds with the WBG’s strategy, planning, budgeting, and workforce planning processes, and introducing a range of efficiency measures to streamline and simplify internal processes and systems. At the same time, a Management Framework for Partnership Programs and FIFs that was adopted in 2013 has been updated to strengthen the selectivity criteria for these programs and to ensure a more systematic approach to their life-cycle management.