The Spring Meetings of the World Bank Group and the International Monetary Fund took place last April in Washington DC. It was an opportunity for government, private sector and important leaders to discuss topics related to global development.
Laure Wessemius-Chibrac, managing director of Cordaid Investments, was invited to two panels to provide insight about the challenges of investing in fragile and conflict-affected situations.
“Do not let the framework become more important than the mission.”
Laure Wessemius-Chibrac, managing director of Cordaid Investments
Innovative financing solutions
‘Financing for Peace: Innovations to Tackle Fragility Challenges’ was one of the main flagship events at the Spring Meetings and had the participation of high-level stakeholders such as Jim Yong Kim (World Bank President), Antonio Guterres (UN Secretary General) and Jean-Claude Juncker (EC President). The panel explored how different partners can work together to implement innovative financing solutions.
Laure: “We need greater flexibility from development banks and agencies’ frameworks to catalyze funding for building local capacity and providing access to finance. I would like to plead to keep sight of the mission ‘end poverty’. Do not let the framework become more important than the mission.”
Rebuilding for Tomorrow
Cordaid also participated in the panel ‘Rebuilding for Tomorrow: Supporting Private Enterprise in Conflict-Affected Situations’. Many key personalities, including Sir Paul Collier (Oxford University) discussed what needs to be done to promote a strong private sector in FCAS.
Laure: “It is the role of the policymakers to make sure that the rules do not hamper the mission. IFC should change its business model. If the target is to end poverty and have 50% of the resources and efforts in FCAS, then let’s put that as hard targets.” This last remark was highlighted by Devex, the media platform for the global development community.