subramanian28_Alex WongNewsmakers_world bank Alex WongNewsmakers

The World Bank as a Cash-Transfer Algorithm

Following its underwhelming response to the COVID-19 pandemic and the damaging “Doing Business” scandal, the World Bank should focus on getting money to poor countries. Here, the Bank can distinguish itself by providing governments with both concessional loans and untied aid.

PROVIDENCE, RHODE ISLAND – Since its founding, the World Bank has evolved to perform three main functions: provide global public goods, generate valuable data and independent analysis, and transfer mostly concessional resources to poorer countries. Having recently undermined its credibility with regard to the first two objectives, the Bank should now focus on the third.