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Since the World Bank was formed in
1944 to help bolster the reconstruction
of war-torn Europe, a host of multilateral
development institutions have emerged
to assist struggling economies around
the world. As the work of these
institutions has grown, so have their
cash management and administrative
challenges. Now their shareholders
are turning up the heat by demanding
operations that are more transparent,
efficient and cost-effective.
Over the decades, the World Bank’s focus shifted from rebuilding
Europe to reducing poverty in developing countries. During that
time, a global network of regional and sub-regional development
banks and aid-coordination affiliates also evolved. Today, their work
includes reconstruction, particularly as it relates to natural disasters,
emergencies and conflicts. However, they also channel financing and
knowledge to support new development, providing funding for large-
scale infrastructure projects as well as smaller initiatives that stimulate
trade and sustainable development.
Spotlight on Multilateral
Development Banks:
Best Treasury Practices
Yield Greater Efficiency
and Accountability
John Finnigan
Head of Development
Organizations,
Corporate and
Investment Bank,
Citi