INDEX
Acheson, Dean, xi
Addis Ababa, Third International Conference on Financing for Development in, xi, 63, 66–67, 69, 177
Addis Ababa Action Agenda, 63, 163
Agenda for Sustainable Development (2030), 64, 72, 161, 162, 233n6
Airline tax, 139–140
Airplane tickets, a small levy on, 139–140
Annan, Kofi, xii, xvi, 22, 146
Asian financial crisis of 1997, 41, 77, 154, 156
Asian Infrastructure Investment Bank (AIIB), 177, 178
Asset management, 60
Aviation tax, 139–140
Ayadi, Rym, 132
Banking. See also Sustainable Banking Network
correspondent, 118
Banks. See also Multilateral development banks; specific banks
financial crisis of 2007–2008 and, 54, 59, 78, 118, 178
regulatory changes and the need for MDBs to step up their game, 178–181
transformation of their role in financing the economy, 178
Bessudo, Sandra, 194–195
“Billions to trillions,” going from, 180
“Billions to trillions” approach, 67
“Billions to trillions” roadmap, 17
Black Monday (1987), 50
Black swan theory, 96
Blue like an Orange Sustainable Capital, 228n8
Boissonat, Jean, 108
Bonds, 7, 79, 141, 171–172, 188, 236n17
social impact, 134
Bretton Woods Agreement, viii, 7, 38, 39, 111, 191, 232n2
Bretton Woods institutions, xviii, 16, 146. See also specific institutions
Bretton Woods system, 38–39, 191
Brexit referendum, 90, 96, 157, 217
BRICS (Brazil, Russia, India, China, and South Africa), xvii, 12, 27
BRICS Development Bank (New Development Bank), 177, 178
Britain. See United Kingdom
Brown, Gordon, 10, 142, 201, 211, 233n1
C-A-lifornia strategy (Collective Action), 103, 145
Camdessus, Michel, 10, 102, 108, 138, 148, 199, 200, 218, 225n8, 228n12
Cameron, David, 96
trust and, 57
Carbon budget, 136
Carbon Disclosure Project, 164
Carbon economy, 164
Carbon emissions, xii, 100, 164. See also Greenhouse gas emissions
Carbon price, viii, 69, 126, 137, 165, 225n4
Carbon Pricing Leadership Coalition, 164–165, 208
Carbon tax, 137, 208. See also Green tax
Cárdenas Santamaría, Mauricio, 194–195
Carney, Mark, 229–230nn10–11
on accountability in finance, 125
on climate change, climate risk, and global finance, 99–100, 128, 136–137, 164
on correspondent banking, 118
positions held by, 99, 125–126
Catastrophe bonds (cat bonds), 171–172
Catastrophe Deferred Drawdown Options (Cat DDO), 172
Catholic Church, 123
Chalendar, Jacques de, 98, 104, 228n6
Chidambaram, P., 51
China, 75–76, 81–82, 91, 150, 151, 181, 185, 223n12
commodity importation and consumption, 77
demographics and population, 28, 29
economic growth, 24, 26–29, 52, 76–77, 117, 228n7
economic slowdown, 76–77
G20 and, 161–162
and globalization, 77
mobilization of domestic savings, 110–111
World Bank and, 152, 181, 184–185
Chirac, Jacques, 139, 156, 199, 232n18
Chirac tax, 139–140
Chronique sociale de France. See Semaines sociales de France
Cicurel, Michel, 94
Cities, 28–29
sustainable development of, 29–30
Climate and finance, 17, 18, 99, 100, 128, 208. See also Climate finance
toward a community of shared destiny, 135–137
Climate change, 63, 68–69, 84–85, 99, 100. See also Carbon emissions China and, 68, 161
Mark Carney on, 99–100, 128, 136–137, 164
multilateral development banks (MDBs) and, 164, 180, 207, 233n10, 238n10
risks/threats posed by, 84–85, 99–100
scientific opinion and consensus on, 34, 208
and the tragedy of the commons, 128
Climate change mitigation, xii, 8, 99. See also Climate and finance; Climate finance; Greenhouse gas emissions: reducing; Paris climate accord
addressing the challenge of, 64, 66
Climate finance, 164, 180, 193, 218. See also Climate and finance; Green finance
silent revolution and, 135, 218
when consensus might falter, 207–208
Climate-Related Financial Disclosures, Task Force on, 164
Coletivo initiative, 237n7
Collective action, 103, 145, 165
Colombia, 194–195
Commodities super cycle (2000s commodities boom), 76
end of the, 77–78
Concessional loans, 170, 222n1, 234n1
Condominium, redesign of our, 97
in capitalism, 89
crises of, 8, 53–55, 57, 89, 196
excess, 41–42
in finance, 218
in insurers, 171
loss of, 39, 45, 53, 54, 89, 218
in the market, 188
Control. See also specific topics
hand controlling the tool vs. tool controlling the hand, 13–14
over finance, 12
over globalization, xi, xiii, 13, 92, 102, 123–124, 139, 143, 217, 218
over money, regaining, 4–5, 14–17, 58–59
Cooperation. See also P4C; Public–private partnerships
emergence of a new spirit of, 66
multilateral approach to. See
Multilateral approach promoting decentralized, 212–214
role of international organizations in enabling global, 99
COP21 (21st Conference of the Parties), 64, 66. See also Copenhagen Agreement; Copenhagen Summit of 2009; Paris climate accord Copenhagen Agreement, xii, 68. See also
COP21 Copenhagen Summit of 2009, 135. See also COP21
Correspondent banking, 118
Côte d’Ivoire, Republic of, 194
Cowan, Tyler, xiv
Badré at, 10, 44–46, 54, 56–57, 98, 107
Cultural transition, baby steps to, 71–74
Cultures, learning the unspoken language of, 149–152
Cynicism, avoiding the temptation of, Danone Communities project, 206–207, 238n8
De-carbonization of the economy, 137. See also Low-carbon economy
Decentralized cooperation, promoting, 212–214
Deindustrialization, premature, xiv
Democracy and trust, 57
Demography prevailing, 27–28
Deng Xiaoping, 185
Deregulation, 40, 52, 53. See also Regulation(s)
Development, ix–x. See also specific topics vs. growth, 112–113
Development bank model, validity of, 176–178
Development finance, 66–67, 177, 187, 193, 203. See also From Billions to Trillions; Multilateral development finance; specific topics
insurance underutilizied in, 170
Digital natives, 33
digital anxiety on the rise, 85–86
Dodd-Frank Wall Street Reform and
Consumer Protection Act (Dodd-Frank Act), 113–115, 124
Domestic resource mobilization (DRM), 235n5
Dot-com bubble, bursting of the, 42
Drinking water, sustainable tariff on, 138. See also Water
Driving accidents, 141–142, 209
Ebola virus epidemic, West African, 86, 170, 172, 211–212
Eco-investing. See Green investing Economic cartography, a new, 26–27
Ecotax. See Green tax
Efficiency, improving legitimacy without smashing, 152–155
El-Erian, Mohammed, 77, 79, 80
Energy industry, 136
Energy transition, 85, 100, 111, 136
Environment, viii–ix, x. See also Carbon emissions; Climate change; Green finance
Environmental, social and governance (ESG) issues, 129
Environmental sustainability. See Sustainability
Epidemics. See Pandemics
Kantian, 228n12
no longer ignoring ethical fault lines, 123–124
European Central Bank (ECB), 45, 47, 56
European debt crisis. See Euro crisis
European Union (EU), 27, 46–47, 83, 84, 116, 119, 151, 158
Consumer Classroom, 124
instability, 83
United Kingdom and, 157, 228n5. See also Brexit
Exponential organizations (ExOs), 33
Exposure Exchange Agreements (EEAs), 173
Favier, Jean, 129
Federal Reserve, US, 45, 56, 78, 79, 115, 226n5
Federal Reserve Bank of New York, 41
Finance. See also specific topics
can become the great servant, 17–18
at the crossroads, 1–18
definitions and meanings of, 1
financing development, 112–113
as a global governance tool, 160–161
innovative approaches to, 169–172
making finance intelligible for all, 124–125
a new way to mobilize, 196–198
as a powerful tool like no other, 109–110
reenchanting, 108, 113, 125, 127
silent revolution in. See Markets, silent revolution of the
uncharted waters of, 78–81
universal appeal of, 110–111
Financial crisis of 2007–2008, 16, 38
banks and, 54, 59, 78, 118, 178
causes, 2, 14, 44, 49–51, 96, 111
compared with other financial crises, 30, 38. See also Subprime mortgage crisis
consequences and ramifications, viii, xii, 7, 14–15, 47–49, 57, 59, 60, 62, 73–74, 78, 80, 89, 98, 104, 107, 118, 119
as a crisis of financial innovation out of control, 49–51
as a crisis of inappropriate and poorly supervised regulation, 52–53
as a crisis of incomplete globalization, 51–52
economic liberalization and, 39–41
the fall of the Tower of Babel (2007–2011), 43–48
Financial Stability Board (FSB) and, xii
financial system and, viii
a first hint of the, 30–31
as global, 51–52
lessons from, viii, xii, 18, 38, 49–50
overconfidence and, 41–42
Financial engineering, 140–141
Financial management, 60
Financial Stability Board (FSB), xii, 3, 12, 46, 115, 116, 153, 164
Financial Stability Oversight Council (FSOC), 115
Financial system. See International financial system Financial tools, 1. See also Finance;
Insurance; Multilateral development banks Financing for Development, Third International Conference on, 63
“Fintech” (financial technology), emergence of, 34
France, 88, 133, 200. See also Crédit Agricole; Semaines sociales de France
2016 Nice attack, 73
COP21 and, 68
defiance of authority and fear of the unknown in, 90
divide between public and private culture and mentalities in, 103
economic policies, ix, 39, 45, 55–56, 83, 107, 139–140, 158, 172
economics, 10, 27, 42, 47, 55, 92, 98, 107, 158
England and, 149–150
and the environment, viii–ix
Europe, European Union (EU), and, 159
floods, 85
G8 2003 summit in, 199
presidents of, 10, 47, 55, 138, 139, 158, 200, 232n3
Semaines sociales de France, 10, 123, 221n3 Trente Glorieuses (“The Glorious
Francis, Pope, 123–124
Franco–German partnership, 90, 158
Franssu, Jean-Baptiste de, 202 From Billions to Trillions: Transforming Development Finance Post-2015 Financing for Development: Multilateral Development Finance, 187, 193–194, 235n5, 238n10
how to walk the talk, 204–205
a paradigm shift, 66–69
Sustainable Development Goals (SDGs) and, 71
“From Billions to Trillions” proposals, xi. See also “Billions to trillions” approach
G7 (Group of 7), 116, 122, 149, 153, 173, 211
China and, 27
(former) dominance, 27, 51, 91, 154
G8 (Group of 8) 2003 summit, 199
G20 (Group of 20), 9, 58, 153, 157, 159, 160, 162, 164
1997 Asian financial crisis and, 154, 156
Badré and, 3
climate change and, 161–164
Development Working Group (DWG) and, 233n6
financial crisis of 2007–2008
financial reforms undertaken by, 119
Financial Stability Board (FSB) and, 115, 154, 159, 164
Global Infrastructure Hub and, 206, 237n5
multilateral development banks (MDBs) and, 163, 184
Mutual Assessment Process, 233n6
role in coordinating financial and economic policies, 47
satellite organizations around, 161
summits/meetings, 3, 46, 52, 115, 148–149, 154, 161, 211
Sustainable Development Goals (SDGs) and, 161
World Bank Group and, 3
Gender equality, 24. See also Women
Geopolitical clashes, 81–84
Global challenges, viii–x
“Global compact of shared values,” call for a, xii, xvi
Global concerns, emergence of new, 34
Global financial reboot, 103–104. See also Rebooting finance
Global Future Council on International
Governance, Public-Private
Cooperation and Sustainable
Development, 212
Global Infrastructure Facility (GIF), 205, 206
Global Infrastructure Forum, 163
Global Infrastructure Hub, 206, 237n5
Global partnerships, 65, 69, 208. See also Partnerships
developing a global partnership for development, 25
Globalization, 8, 61, 70, 80, 97, 102, 104
China and, 77
control over, xi, xiii, 13, 92, 102, 123–124, 139, 143, 217, 218
a crisis of incomplete, 51–52
debate over, 21
effects of, xv, 13, 51, 80, 96, 97, 102, 104, 124, 140, 149, 162, 179, 207
future of, 7, 8, 12, 36, 80, 81, 88, 92, 94–97, 112
G20 and, 160
governance and, 35
influence and control over, 102, 123–124, 139, 143, 217, 218
Kofi Annan on, xii multilateral system and, 149
nature of, xiii, xv, 4, 8, 102
organizations shaping, 86
perspectives on, xiii policies and, xv possible trajectories for, 95–97, 112
private savings made available to by, 179
responsible, 139
rise of a new, 149
vulnerabilities of and backlashes against, xii
Globalized financial system, “scale for good” principle and a new, 207
“Glorious Thirty.” See Trente Glorieuses
Gourdault-Montagne, Maurice, 200
Governance, 35–36. See also “Triangle of governance”
emergence of the idea of, 35
nature of, 35
Governments
a primary responsibility for, 193–195
unable to do it all alone, 195–196
Great Moderation, 6, 23, 42, 53, 98, 122
Great Recession, 53
Greek government-debt crisis, 98
Greed, 115
Green bonds, 12, 132, 134–136, 180
Green finance, ix, 16. See also Climate finance
Green tax, 137, 139. See also Carbon tax
Greenhouse gas emissions. See also Carbon emissions
Greenhouse gases, largest producers of, 68, 73
Group of 7. See G7
Group of 8. See G8
Group of 20. See G20
Growth
vs. development, 112–113
Guarantees, 180, 182, 234n1, 236n7
Haidt, Jonathan, xv Hammarskjöld, Dag, 148
Health, global, 24, 209–210. See also Pandemics; Vaccination
Helsinki Accords, 101
Henry the Navigator, Prince, 130
Hirsch, Martin, 55
Hollande, François, 53–54
IDA. See International Development Association
Impact investment, 133–134
India, 188–189
Infrastructure, financing, 70, 162–166, 205–207
Innovation, ix, x. See also under Financial crisis of 2007–2008
a crisis of innovation out of control, 49–51
innovative approaches to finance, 169–172
as a prerequisite, 189
underutilization of, 170–172
concessional loans and, 234n1
negative, 7, 15, 30, 79, 93, 207
International Bank for Reconstruction and Development (IBRD), 173, 186, 236n9
International Conference on Financing for Development. See Addis Ababa; Monterrey Consensus International Development Association (IDA), 170, 182, 234n2. See also IDA+ International finance, simplified, 140–141
International Finance Corporation (IFC), 3, 181, 186–188, 207, 234n3, 236n8
International Finance Facility for
Education (IFFEd), 142
International Finance Facility for
Immunization (IFFIm), 141
International financial system, 11, 23, 118–119. See also Rebooting the financial system; specific topics
asset managers and, 59
learning to maintain the stability of the, 60
middle class in Western democracies and the, 92
opportunity to reinvent the, 104
rebuilding the, 59
reform of, 58–59
International institutions, 160. See also Multilateral institutions; specific institutions; specific topics
the (useful but frustrating) miracle of current, 146–147
International Monetary Fund (IMF), 139, 153, 200
creation/establishment of, 111, 232n2
directors, 80. See also Camdessus, Michel
European Union (EU) and, 47
mission, 232n2
multilateral development banks (MDBs) and, 187
OECD and, 46
shadow banking system and, 60
World Bank and, 153, 159, 160, 165, 222n2, 232n2
International organizations, 14, 147, 153, 210–211. See also specific organizations
and reform, 126
role in enabling global cooperation, 99
Investors, institutional, 59–60
Ivory Coast. See Côte d’Ivoire
Joseph Dominique, Baron Louis. See Louis, Baron
Kantian morality, 228n12
Leadership
making leaders summits into leadership summits, 91
momentum and, 157–160
Legitimacy, improving
without smashing efficiency, 152–155
Lehman Brothers, bankruptcy of, 45
Liability-related risk, 100
Liberalism, economic, 39, 40, 126–127. See also Neoliberalism
Liberalization of financial markets, 40
Lipton, David, 80–81, 95, 228n7
Liquidation value approach, 124–125
Loss absorption mechanisms, 116
Louis, Baron, 107
MacArthur, Douglas, 93
Mark-to-market approach, 124–125
Market-based finance. See Shadow banking system
Market economy and trust, 57
Markets, silent revolution of the, 66, 130, 132–133, 135, 161, 218
Match Point (film), 94
Máxima of the Netherlands, Queen, 109
Merkel, Angela, 72
Mestrallet, Gérard, 137
Middle class in Western democracies, 92
Millennium, dawn of the new, 5–6, 21, 32
Millennium Declaration, 22, 37, 44
Millennium Development Goals (MDGs), xi–xii, 24–25, 36, 44, 138
and the future, 36–37
soaring hope in 2000 with the adoption of the, 22–23
fifteen years after the, 23–26
high hopes from the, 21–37
Monetary policies, unconventional U.S., 78
Money, 12, 111–112, 219. See also specific topics
regaining control over, 4–5, 58–59
Money management, 60
Monterrey Consensus, 23, 63, 70, 139. See also Addis Ababa
Multilateral approach, 3–4, 117, 178
Multilateral development banks (MDBs), 185, 191, 202–204. See also Multilateral institutions
climate change and, 164, 180, 207, 233n10, 238n10
credit portfolios, 234n5
as engines, 203–204
financial solutions that can be provided by, 174
Global Infrastructure Forum and, 163
International Development Association (IDA) and, 170
as key tool in our toolbox, 174–175
as a laboratory, 169–175, 189, 191
oriented toward the public sector, 186
philanthropic groups and, 176
private sector banks, deregulation of, and, 178–181
ratings, 234n5
recommendations and implications for, 174, 204, 207
roles and functions, 163, 165, 179, 187–189, 191, 206, 207, 222n2
unleashing billions of dollars, 169–170
World Bank Group, 185–187, 189, 235n2
Multilateral development finance, 178. See also From Billions to Trillions
Multilateral institutions, xi, 9, 13, 181–182, 211. See also Multilateral development banks
Multilateral Investment Guarantee Agency (MIGA), 173, 234nn2–3, 236n8, 236n10
Multilateralism, xiii, 4, 151, 190–191
Nawandish, M. Y., 29
Neoliberalism, viii, xvi, 52. See also Liberalism
New Development Bank, 177, 178
Nongovernmental organizations (NGOs), 199, 214. See also specific topics
O-H-I-O (own house in order) strategy, 95, 145, 157
resistance to, 95
October 1987 crash (Black Monday), 50
Official development assistance (ODA), 71, 139, 176, 196, 222n2
defined, 222n2
increasing, 23
multilateral development banks (MDBs) and, 23
slowing of ODA growth, 31
target level, 26
Oil crisis, 82
O’Neill, Jim, 162
Organisation for Economic Co-operation and Development (OECD), 46
Ouattara, Alassane, 194
P4C (painful but profitable public– private cooperation), 198, 203, 207
as the key to an economy with a purpose, 208–209
role in preventing pandemics, 211
Pandemics, ix, 172–173, 211–212. See also Ebola virus epidemic
best defense against, 212
higher pandemic risks in a connected world, 8, 86–87
insurance and, 170
tools in the fight against, 8
Paris climate accord, 8, 68, 73, 85, 165, 208. See also COP21
Partnerships, 70–72, 167, 205, 208–211. See also Public–private partnerships
defined, 70
between nations, 23, 90, 165. See also Global partnerships
Péguy, Charles, 228n12
Peyrefitte, Alain, 57
Politics. See Geopolitical clashes Porter, Michael, 132–133
Premature deindustrialization, xiv Prince, Chuck, 14
Private initiatives, 31–32
Public–private partnerships (PPPs), xvi, 17, 141, 186, 193, 197, 198. See also P4C
Quantitative easing, 79
Rajan, Raghuram, 224n5
Rebooting the financial system, 103–104
while preserving its essence, 181–182
Reenchanting finance, 108, 113, 125, 127
Reform. See also specific topics
international organizations and, 126
a system awaiting rebuilding and, 58–59
Refugees, 211. See also Syrian refugee crisis
Regulation(s), 126. See also Deregulation
a crisis of inappropriate or poorly supervised, 52–53
the temptation of total, 114–116
unintended consequences of, 118–120
Responsibility
of governments, 193–195
reestablishing a culture of, 121–122
Responsible globalization, 139
Risk management, 174
sharing risk at a global level, 173
Risks that threaten global financial
stability, 99–100
Rodrik, Dani, xiv Roman Empire, 95, 96, 159
Rwanda, bonds issued in, 188
Saint-Exupéry, Antoine de, 18, 88–89
“Scale for good” principle, 207
Secular stagnation, xvii Securitization, 41, 110, 119, 224n4
Semaines sociales de France, 10, 123, 221n3
September 11
Shadow banking system, 41, 59, 60
rise of, 116–118
Shanmugaratnam, Tharman, 54–55
Shared-value approach, 237n7
Shared-value initiatives, 133
global compact of, xii, xvi Short-termism, moving away from the tyranny of, 127–130
Silent revolution, 66, 130, 132–133, 135, 161, 218
Social business networks, 207
Social finance, 134
Social frustration, unprecedented, 88–89
Social impact investment, 133–134
Société Générale, 108
2008 Société Générale trading loss, 45, 229n1
Badré at, 10, 107–108, 113, 133
Solidarity tax on airplane tickets (France), 139–140
Solomon Islands, 214–215
Soviet Union, 101
Subprime mortgage crisis, 12, 38, 41, 43–45, 49
Summers, Larry, 80
Sustainable, defined, 192
Sustainable Banking Network, 207, 238n9
Sustainable development, 4. See also Sustainable Development Goals
of cities, urbanization and, 29–30
dimensions, 64
financing/funding, 17–18, 67, 71, 176, 180
future of, 195
governance and, 192
humanity’s commitment to, 8
UN conference on, 36
Sustainable Development Goals (SDGs). See also Agenda for Sustainable Development; Sustainable development
2030 Agenda for Sustainable Development and, 72, 161
financing/funding, xvi, 63, 71, 167, 173, 180, 193, 235n6
governments and, 73
implementation, 193, 195, 233n6
initiatives supporting, 163, 174
list of, 65
multilateral development banks (MDBs) and, 64
roles, functions, and objectives, xiii, 64, 111, 112, 180, 196
Sustainable development initiatives, UN agreement on, 101
Sustainable Development Investment Platform, 206
Sustainable development plan of United Nations (UN), 99
Sustainable Energy for All, 208
Syrian refugee crisis, 83–85, 95, 157
Taleb, Nassim Nicholas, 96
Tariff principle for the sustainable recovery of costs, 138
Taxation, 139–140
of international financial transactions, 199–201
Technological disruption, 60–61
Technology. See also Digital revolution financial, 34
Teresa of Ávila, 111
Terrorism, 82–83. See also September 11 attacks
“Thirty glorious years.” See Trente Glorieuses
Tier 1 (T1), 113, 229n5, 229n7
Tipping point (sociology), 50
Todt, Jean, 141
Tolerance threshold, 50
Total loss-absorbing capacity (TLAC), 116, 229n8
Trade, 42, 77. See also World Trade Organization
as a financial instrument, 45–46
Trade agreements, 90
Trade protectionism, xiii, 90, 138
Traffic accidents, 141–142, 209
Tragedy of the commons, climate change and, 128
Transition to clean energy, 85, 111, 136
Trente Glorieuses (“The Glorious Thirty”), 92, 98
“Triangle of governance,” 126
building a balanced, 125–127
Trust. See also Confidence
ethos of, 57
by institutional investors, 59–60
loss of, 57–58
rebuilding, 58
Trust capital, loss of, 57
Unitaid, 140
United Kingdom (UK), 53
European Union (EU) and, 157, 228n5. See also Brexit
France and, 149–150
United Kingdom European Union membership referendum, 2016 (Brexit referendum), 90, 96, 157, 217
United Nations (UN), 149. See also Addis Ababa; Millennium Declaration; Monterrey Consensus
“has avoided hell,” 148
Sustainable Development Goals (SDGs) and, 63, 64
sustainable development plan, 99
United Nations Climate Change
Conference. See COP21; Copenhagen Summit of 2009
United Nations Conference on Sustainable Development, 36
United Nations General Assembly, 64
Urbanization, galloping, 28–30
Vaccination, 140–141
Values. See “Global compact of shared values”
Volcker, Paul, 50
Wealth creation, unprecedented level of, 89
moving up the ladder, 34–35
World Bank, 152, 180, 182–185, 197, 233n8. See also specific topics
Badré as Chief Financial Officer of, xi
Badré as managing director of, 11
Badré in senior management team of, 63
Badré’s involvement in, 10, 34, 102–103, 111, 169, 170, 182, 189, 201, 211
bonds issued by, 188
Carbon Pricing Leadership Coalition, 164, 208
carbon tax and, 208
China and, 184–185
compared with Vatican, 202
COP21 and, 69
creation/establishment of, 111, 232n2
as doubly global, 190
energy and, 111
financial model of, 201
financial reform and, 182–184
G20 and, 159
history, 232n2
insurance and, 170–172
International Finance Corporation (IFC) and, 3, 181, 186, 188, 232n2
International Monetary Fund (IMF) and, 153, 159, 160, 165, 222n2, 232n2
mission/purpose, 111, 155, 191, 214, 232n2
multilateral development finance and, 178
nature of, 11, 152–155, 185, 186, 189–191, 214, 232n2
and the problem of legitimacy, 154
reforming the, 201–202
shareholder governments, 147
training programs, 32
village projects, 109
World Bank Group, 155, 182, 189–191, 198, 235n2
Badré as representative of, 3
catastrophe bonds issued by, 171–172
International Development Association (IDA) and, 169–170
and other multilateral development banks (MDBs), 185–187, 189, 235n2
overview and nature of, 183, 185–186
pandemics and, 172–173
risk management and, 173
World Bank Live platform, 165
World Economic Forum, xvii, 212, 237n6
World Trade Organization (WTO), 75, 146
Xi Jinping, 162