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2021 Trust Fund Annual Report


Toward Greater Resilience

The COVID-19 crisis has affected economies around the world and shocked every sector from health, education and jobs, to name just a few. The World Bank has mounted a broad and decisive response to the crisis. This report speaks to the many ways that trust funds and financial intermediary funds (FIFs) are contributing to the World Bank Group’s effort to help countries respond to the ongoing crisis.

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.

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Akihiko Nishio
Vice President
Development Finance, World Bank Group




Akihiko Nishio, Vice President, Development Finance

Trust Funds in Action: Stories from the Field


Entrepreneurs in the middle of the jungle

Indigenous women in the Colombian Amazon strengthen their role within the community through environmental conservation.

Better health for all Cambodians

The Health Equity Fund provided free access to 2.6 million outpatient visits and 190,000 hospital admissions for the poorest people in Cambodia annually.


Helping Indian women farmers through clean energy

Working with IFC, and the Bank of Baroda, Self-Employed Women’s Association (SEWA) helped women salt farmers in India’s Gujarat state overcome their poverty by providing financial support to replace age-old diesel-powered pumps with solar pumps.