The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries, consisting of five institutions with a common commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
Established in 1944, the World Bank Group is headquartered in Washington, D.C.
The Annual Report 2016 focuses on how the World Bank is partnering with countries to end extreme poverty by 2030, promote shared prosperity, and support the global sustainable development agenda.
The Bank has also improved its ability to measure results from its knowledge or institutional development work, and it has adopted standardized metrics across a wide range of sectors to aggregate contributions to development results across countries, and across time.
The World Bank is accountable to its shareholders and the public through a set of feedback and accountability mechanisms, including the Corporate Scorecard, the IDA (International Development Association) Results Monitoring System, and regular opportunities to discuss progress on operations with its Board of Executive Directors. It continues to refine a set of indicators to track progress on client results and the effectiveness of its operations to demonstrate progress.
The World Bank Group has opened its data, knowledge, and research to foster innovation and increase transparency in development, aid flows, and finances. A variety of tools, programs, and policies facilitates these goals.