Progress in reforming development banks ‘quite limited,’ new tool shows

A new tool launched on Monday to track reforms by the World Bank and the five biggest multilateral development banks (MDBs) shows that broad changes are "firmly in play" but progress in implementing them has been limited thus far. Senior officials at the nonpartisan Center for Global Development said they developed the new platform to assess progress being made on reforms, but concluded progress in implementing the changes was "quite limited." "We have already seen notable progress in areas like raising lending limits and launching innovative finance programs," former senior Treasury official Nancy Lee and other researchers wrote in a blog unveiling the tool.