The “Super Bowl of Development”: My Best Of

Here we are, the day after the 2024 Annual Meetings — the “Super Bowl of development,” as a journalist I talked to described it. After a busy week, I am back to my Sunday morning routine: a cup of coffee while reading the FT weekend edition.?

But it’s also time for me to reflect on the importance of this week: what I’ve heard, what we’ve announced, and how it will shape the future. We brought our A game, but unlike American football, we’re not just aiming for touchdowns, we’re committed to making a lasting difference in the lives of millions across the world.?

Here are 8 most striking moments:?

Most inspiring:??

Women's empowerment being so high on the agenda. Championed by inspirational female leaders who head more and more delegations every year (a welcome trend when you consider that we started with just one woman in 1944 at Bretton Woods, the day our institution was born). But also, by men, because gender equality isn't just about women.???

As Nigeria’s minister of finance Edun told me, “Leaving out women is like flying a plane without one of the two engines. It can’t work”.??

Our announcements to expand women’s economic opportunities bring our gender strategy to life, promising real impact in the lives of so many women and girls.?

Most meaningful:??

Hearing countries and partners recognize how much we’ve changed to make the World Bank Group a better, bigger, and faster Bank. One that delivers greater ambition and that is there for them when they need us the most. But also, listening to countries’ feedback on what can be done next to deepen our partnership and improve our work. We are their Bank, and every effort we make to accelerate project preparation and implementation is ultimately for the people we are here to serve.?

Most fun:?

Seeing data come to life with our Data Playground and VR activities, powered by over 300 million data points. With over 80 years in the development business, we’ve got an astronomical amount of data accessible to all, informing public decisions daily. A better Bank is a data bank that works for development results. You can dive into it too.?

Most pressing:?

Creating jobs for young people. Over the next decade, 1.2 billion young people, full of potential, will enter the workforce. Yet, with only 420 million jobs expected to be created, too many will be faced with an uncertain future. But, as we heard this week, “forecasts are not destiny.” Our High-Level Advisory Council on Jobs, led by President Tharman Shanmugaratnam of Singapore and former President Michelle Bachelet of Chile, bringing together a group of business leaders, civil society, and academics, met to identify concrete solutions to this pressing issue.?

Most transformative:?

Unlocking the potential of agribusiness to reshape food security, nutrition, growth, and employment. As Ajay said, we want to move from “fragmented efforts to a constellation of solutions.” This transformation involves warehousing, logistics, production, with smallholder farmers and producer organizations at the center. Redefining agribusiness goes beyond securing food systems for the future –?it’s about delivering quality of life and job opportunities. Our commitment to double funding to $9 billion annually by 2030 is putting our money where our mouth is.?

Most humbling:?

The reminder by Senegal’s Minister of Energy Diop, at our Mission 300 event, that when some smell perfume, “in Africa, rural women are perfumed with charcoal smoke.” Powering Africa and connecting 300 million people to electricity by 2030 means more than lighting homes – it promotes clean cooking, protects the environment, and allows women to focus on income-generating activities. The window to bridge the electricity access gap is narrowing, so we need everyone to rally like a winning team. And score a massive touchdown in energy access!

Most encouraging:?

The strong support for the International Development Association, IDA, and solidarity with the most vulnerable. In this replenishment year, we need everyone to step up – a call echoed by countries, civil society, and partners. This week, Spain and Latvia responded to the call announcing their early financial commitments, following Denmark earlier this month.

Latvia’s minister of finance A?eradens summarized it well: “IDA is the best deal in development.”?

Most important:?

Multilateralism is working. And our evolution process proves it. Over a year ago, our shareholders and clients asked for a better World Bank Group. Since then, we’ve made meaningful improvements. These Annual Meetings provided the perfect opportunity to demonstrate that a future-ready Bank is within reach, but we must continue to forge ahead and bring others along.