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2023 Trust Fund Annual Report

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Addressing Global Challenges

The 2023 annual report highlights the significant impact of Trust Funds (TFs) and Financial Intermediary Funds (FIFs) on global development. The report emphasizes that TFs and FIFs are flexible and responsive tools in the World Bank's toolkit of policy and financial instruments. It explains how they work in tandem with bank operations and offer targeted and customized solutions.

Message from the Vice President

We are at a critical moment in history. The world faces a perfect storm of intertwined and complex global challenges. For the world’s developing countries, the lingering effects of the global pandemic, slowing growth, conflict, fragility, food insecurity, and the urgent climate crisis all threaten to unwind development gains and plunge as many as 95 million more people into poverty.

The World Bank is transforming to respond to these compounding crises—fighting to preserve the hard-won development gains of previous decades and evolving to be a better partner to meet the most pressing needs of people and the planet in the future. Trust funds and financial intermediary funds (FIFs) are powerful tools for global development and an important part of this equation.

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Akihiko Nishio
Vice President
Development Finance, World Bank Group