The World Bank announced on Tuesday its plans to restructure global operations, relocating regional management teams from Washington to hub offices worldwide. This move aims to enhance the bank's responsiveness to local needs.
Describing it as a significant milestone, the bank stated in an email on Tuesday that two-thirds of its operations staff would now be based in the regions they serve, reflecting ongoing efforts over recent years. Anna Bjerde, the World Bank's managing director of operations, highlighted that these changes aim to streamline operations, facilitate client access, and place senior managers in closer proximity to the countries they serve.
The restructuring will impact 11 regional vice presidents across various World Bank arms, including the International Bank for Reconstruction and Development, the International Development Association, the International Financing Corporation, and regional directors.
Reports indicate broad support from members of the bank's executive board following briefings on the plan. This initiative, led by World Bank President Ajay Banga since his arrival in June 2023, is distinct from recent U.S. foreign aid cancellations and withdrawal from international institutions.
While hub locations such as Dubai, Singapore, and Nairobi are being considered, plans are still in progress, with factors like flight options, client proximity, and staff quality of life being taken into account. Initial moves could begin as early as May, with the full implementation expected within the next two years. Notably, the Latin America and Caribbean team will continue to operate from Washington.