Message from the Vice President
This was a year dominated by COVID-19 and the ensuing global health and economic crisis. The pandemic has taken lives and disrupted livelihoods in every corner of the world. It has raised the urgency of mitigating severe economic impacts on poverty and overcoming the dangers of climate change, systemic inequality, social instability, financial risks, declining growth rates, and conflicts.
The World Bank Group’s ongoing response to the COVID-19 crisis has been massive and decisive, with trust funds and financial intermediary funds (FIFs) contributing to immediate relief initiatives and providing strategic support to countries as they rebuild for a resilient recovery. This report highlights the important work trust funds and FIFs are supporting to help shorten the crisis and lay a strong foundation for a future that is more prosperous and better prepared for disasters like COVID-19.
Ongoing trust-funded activities are part of the World Bank Group’s efforts to build this foundation of greater resilience. Looking across the thematic areas of health, climate action, gender, social protection and jobs, and debt management, this report shows how trust fund and FIF resources—disbursing $51.62 billion from fiscal years 2017 to 2021—support the World Bank Group’s goals to end extreme poverty and promote shared prosperity through greener, more inclusive and more resilient development.
Development Finance, World Bank Group