The World Bank announced plans to restructure its global operations by relocating regional management teams from its headquarters in Washington, D.C., to hub offices around the world. This move is intended to enhance the bank’s ability to respond more effectively and efficiently to local needs.
The decentralization effort will see two-thirds of the World Bank Group’s operations staff based in the regions they serve. This shift is part of ongoing efforts to improve the bank’s operations, simplify client access, and position senior managers closer to the countries they support.
The restructuring will affect 11 regional vice presidents overseeing the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC), as well as regional directors.
World Bank President Ajay Banga, who took office in June 2023, has driven this initiative, with broad support from the bank’s executive board. The move is not connected to recent actions by the U.S. government to reduce foreign aid or withdraw from international organizations, according to sources familiar with the plans.
Details regarding the locations of the new hubs are still being finalized, with considerations including flight accessibility, proximity to clients, and quality of life for staff. Potential locations include Dubai, Singapore, and Nairobi. The changes are expected to begin as early as May, with full implementation over the next two years. The Latin America and Caribbean team will continue to operate from Washington, D.C.
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