World Bank Group

The World Bank Group (WBG) has been working with ADB since 1972. The WBG works with countries to implement sustainable solutions to reduce poverty and build shared prosperity in developing countries.

WBG’s collaboration with ADB prioritizes projects on health, education, infrastructure, agriculture, public administration, macroeconomic management, institutional development, governance, financial and private sector development, environmental protection, and natural resource management.

Highlights

Sovereign Cofinancing. In 2023, the WBG committed $1.2 billion in cofinancing to support three investment projects. This includes $1 billion in loan cofinancing to help Indonesia strengthen its primary care services and public health laboratories, and another loan worth $160 million to support Nepal’s school education system reform. This also includes a grant of $10 million to assist Kiribati in implementing reforms toward economic recovery.

The Pacific developing member countries have consistently received WBG’s grant cofinancing as most are recipient countries of the World Bank’s International Development Association and are eligible for 100% grants. ADB and the WBG also work together through development coordination offices posted in selected countries of the 11 smallest Pacific island countries, enabling better coordination in the field.

Knowledge. In November 2023, ADB hosted the annual meeting of the International Financial Institutions Community of Practice for Knowledge Management in Washington, DC, attended by multilateral development banks (MDBs) and international organizations, including the World Bank. The representatives discussed the strategic alignment of knowledge management with organizational business goals, shared good practices to develop new capabilities in climate change, and addressed key challenges related to the adoption of artificial intelligence in enterprises.

Ahead of the 2023 United Nations Climate Change Conference (COP28), ADB led an eight-episode campaign on key climate issues, which featured contributions from the MDBs as the current chair of the International Financial Institutions Heads of Communications Working Group. In the sixth episode, the World Bank explained how countries blessed with natural resources can extract millions of dollars by protecting their natural assets and unlocking the potential of carbon markets.

During COP28, MDBs, including ADB and the Asian Infrastructure Investment Bank, made a joint statement affirming their commitment to strengthening collaboration with clients, development partners, civil society, the private sector, and others to reduce poverty and inequality and address the crises.