Relative endorsements for development finance strategies in national statements of IMF-World Bank meetings 2015-2024

To systematically assess the extent to which WBG shareholders endorse portfolio derisking compared to the other two approaches identified by our trilemma, we conducted a content analysis of national shareholder statements at the bi-annual meeting of IMF-World Bank meeting (development committee) from 2015 to 2024.

We first categorized statements according to whether they contained explicit endorsements of one of three dominant approaches: (1) private capital mobilization, subdivided into (i) project derisking, (ii) portfolio derisking, and (iii) unspecified; (2) leveraging or strenghtening MDBs, subdivided into (2i) CAF reforms, (2ii) WBG capital increase, and (2iii) IDA replenishment; and (3) domestic resource mobilization, subdivided into (3i) figting illicit capital flight, (3ii) sovereign debt restructuring, and (3iii) other.

Subsequently, we weigh every endorsement according to the shareholder voting share in the three main institutions of the World Bank Group (WBG) – the IBRD, the IDA, and the IFC. See tab Data analysis and Voting share.

As the data shows, only a minority of WBG shareholders – weighted by vote share – have endorsed portfolio derisking approach as a desirable approach to reach the ambitions of the MFD agenda.

The statements have been read systematically, with the use of Qualtrics, with exact mentions and text excerpts written down. These forms can be made available upon request.