International Development Secretary Andrew Mitchell attended the annual meetings of the World Bank this weekend in Washington. The meetings, which came just a few weeks after the MDGs summit, were an opportunity for World Bank Governors to review the World Bank Group’s response to the global financial crisis as well as progress on delivering development results and implementing reforms.
The meetings were also a look forward to the 16th replenishment of the International Development Association (IDA) - the World Bank’s fund for the poorest countries and an important instrument for achieving the MDGs.
Speaking in Washington, Andrew Mitchell said Britain’s contribution to the IDA would depend on DFID’s Multilateral Aid Review, a rigorous assessment of aid spent through international institutions such as the Bank and the UN to ensure that the UK gets maximum value for money from its contributions to these multilateral organisations. He also called for a stronger focus on results and transparency.