February 17, 2009—In the wake of the global financial crisis and the worldwide fiscal response, the Independent Evaluation Group has released a report on the lessons of World Bank Group interventions in past episodes. These lessons are relevant in helping the Bank Group and countries to confront the most severe global financial crisis in recent decades.
In Response to Global Events
The World Bank Group in the past year stepped up finance mobilization in an unprecedented way—for example, with a new $1.2 billion Global Food Response Program or the financing from a $6 billion Climate Investment Fund.
With spreading financial troubles, the Bank has announced a readiness to increase, over the next three years, IBRD lending to $100 billion and put in place new IFC facilities to the tune of $30 billion.
It is also calling for 0.7 percent of bail-out packages to be devoted to needy countries, and IDA has put in place a fast-track assistance program to help the poorest countries.
Read or download the full report:
Lessons from World Bank Group Responses to Past Financial Crises
