The World Bank has today’s released the 2020 Trust Fund Annual Report. This was disclosed by the World Bank in a post on it’s page.
Trust funds are an integral part of the aid architecture which creates structural impact. The World Bank Group combines trust funds to core funding from International Bank for Reconstruction and Development, International Development Association, and International Finance Corporation, to foster the achievement of the World Bank Group’s goals by providing sizable financial resources to development priorities, regions, and focus areas.
The 32 results stories contained in this report analyze how the WBG has been able to help its customers achieve greater productivity and impacts through trust-funded operations.
In his speech The World Bank Group (WBG) vice-president stated that he envisions a world in which no one lives in poverty and everyone partake in prosperity.
According to him Trust funds are a powerful tool for enabling progress in achieving this vision. He further stated that Trust funds help countries to progress on their development goals and take steps toward achieving the Sustainable Development Goals.
He also noted that, IBRD/IDA and IFC trust funds has $13 billion of funds in trust which provide predictable multi-year funding that helps deliver sizable development solutions for their customers.