How DFID will work with the World Bank on shared priorities in 2013-14 and a review of progress since 2012.
The UK Multilateral Aid Review (MAR) published in March 2011 comprehensively assessed the value for money and reform priorities of multilateral organisations supported by DFID and in which the UK is an important shareholder. It confirmed that, overall, the World Bank Group is one of the most effective multilateral institutions that DFID funds. It is closely aligned to UK development priorities and is an important partner in the UK’s efforts to reduce global poverty. The UK’s contribution to its concessional lending arm for low income countries - the International Development Association (IDA) - demonstrates our confidence in the central role of the Bank in helping to reach the Millennium Development Goals. The Bank has made significant progress against many of its objectives.
There is still room for improvement in the Bank’s performance, however. The Bank accepts the areas identified as in need of further change. The UK is working with the Bank at many levels to support its efforts to address these and make it more effective in reducing global poverty particularly over this year as it reviews its strategy.