Championing Faster and More Impactful Results

Yesterday, in what is becoming a tradition for me, I brought ministers and partners together for a roundtable on a topic that is constantly on my mind: How to achieve development results faster? Because faster project preparation will only take us so far if we don’t speed up the execution of the projects we finance.

This big question with high stakes has many critical elements attached to it: How to respond to crises faster? How to mobilize the power of our institution in record speed? Ultimately, how do we turn development outcomes into reality quicker?

This is not the first time you’ve heard me talk about this. In fact, today’s conversation picked up exactly where we left off during our last Spring Meetings:?a request from country leaders to have a dedicated forum where they can engage with each other and with us to brainstorm on scaling solutions for faster implementation of our projects.???

And let me tell you, the champions I had around the table are fully committed to tackling this challenge with us. And they expected some concrete proposals to move this agenda forward.?

1. Preparation and implementation: Two sides of the same coin?

As several ministers said, “projects that are better prepared are better implemented.” They are right.?

As I shared with them, over the past year, 世界银行 has made some considerable progress towards faster results, including slashing the average time it takes us from the start of preparing a project to having it approved. It used to take us 19 months, soon we’ll be down to 12 months. We also streamlined and strengthened our environmental and social framework, which is saving time. And we are about to dive headfirst into simplifying our procurement process, including greater leveraging of AI – another huge opportunity I see in front of us. But this is not enough.?

While we’ve spent quite a bit of time slashing preparation time, this is only half the journey. Implementation is equally crucial, and it’s clear that accelerating development results means tackling delays on both fronts. Accelerating one without improving the other won’t get us where we need to be.?

This challenge resonates with many leaders. As the Minister of Economy and Finance from Ecuador noted,

“Time can be a make-or-break element, and lengthy processes bear a high cost.”

I couldn’t agree more. In times of great need, the cost of delay is simply too high. None of us want to see life-changing projects stuck in limbo, due to capacity gaps or bureaucratic hurdles. And while these challenges are real, together we can address them.?

2. Being there for our clients??

So, where are we heading next? The time we save on internal processes and procedures is freeing up time for staff to focus on what matters most: results. It’s now time to focus on turbocharging project implementation. And we need to do this jointly — with countries in the driver’s seat!?

Countries had told us they needed grant resources for project preparation. We are answering this call by establishing a Grant Facility for Project Preparation to help them prepare high-quality projects that are ready for implementation, accelerate implementation, and shorten the time to achieve results.??

We are also launching a Strengthening Client Capacity for Impact academy program, which responds to the countries' call for lasting capacity. By equipping implementing entities with tailored learning and hands-on support, this program will not only drive project effectiveness but also foster long-term sustainability and client ownership.?

3. A two-way exercise from which we have a lot to learn?

Finally, development isn’t a one-way street. As noted by partners, this must be our opportunity to better understand complex contexts, adapt strategies, and continuously refine our approach based on feedback from those directly involved in implementation. After all, when the projects financed by the Bank close, development must stay. Systems, capacity, and skills need to be firmly rooted within countries.?

This is why I see so much opportunity in the Global Leaders for Development Impact Network that was launched today – a unique forum for ministers to address implementation barriers and explore innovative ways to deliver faster and more scalable operations. Because they know best. Only by looking at the champions in the room, I know the potential this network can have in achieving impact. Faster.?