Reforming Foreign Aid: Reinvent the World Bank

16th November 2017 1:30 – 3:30pmWorld Bank Group Office – Millbank Tower, 21-24 Millbank, Westminster, London SW1P 4QP

Dr. Inder Sud is currently president of the 1818 Society. He started his career at the World Bank where he held a variety of management positions in operations, finance, and policy. He pioneered the use of the World Bank’s partial-risk guaranty for public-private partnerships in infrastructure, and was also involved in the Bank’s early work providing the basis for re-establishing its relationship with China. Since retiring, he has taught international development at graduate level at Duke and George Washington universities and consulted for a number of organizations.

In his book by the same title, Inder argues that aid has been successful in promoting development only in those few countries in which the leaders are committed to development. Successful countries are those which could utilize foreign aid to support their own, home-grown, national development.

He believes that the World Bank can take a lead in setting a new path for delivering foreign aid, if it undertakes serious reforms. Among his recommendations are: strengthening governance; transparent, qualification-driven process for selection of president with proven leadership as the key criterion; increased autonomy for the Independent Evaluation Group; performance-based budget support instead of project lending; and a leaner Bank as the true knowledge bank.

Inder’s thoughtful presentation prompted a lively discussion.

This was the eleventh of the special Alumni Seminars arranged by the British Chapter of the 1818 Society, and the fourth in partnership with DFID. It was kindly hosted at the World Bank Group office at Millbank

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