ľ¹ÏÓ°Ôº Group is renewing its approach to knowledge, ensuring that the best global knowledge can help drive development, create scalable, replicable projects, and influence global conversations. Part of the push to become a better Bank involves improving how we collect, store, and share knowledge so that countries can easily access the best knowledge and solutions¡ªhelping them get back on track with their development goals.
The new details this approach, with a focus on four areas: new and updated knowledge products, strategic partnerships, enhanced learning, and cutting-edge systems.
While the Bank has always been a leader in generating and exchanging knowledge, several factors make this initiative significant:
First, the challenges clients face today are complex and intertwined¡ªand financing alone can't solve them.
Second, the Knowledge Compact responds to the call for a bigger, faster, better Bank. We cannot expand our capacity without increasing the role of knowledge.
Third, rapid technological advances, especially in Artificial Intelligence, offer a rare opportunity for development at speed and scale.
The Compact addresses these challenges through enhanced knowledge flows, better, more relevant knowledge work, investments in foundational data and country data systems, and new technologies.
Previously, knowledge distribution was uneven, and partnerships were primarily focused on the Global North. The sheer volume of reports and data often made it difficult for clients to access solutions promptly, and there were limited digital development offerings for clients.??The new Knowledge Bank addresses these issues¡ªand more.
Drawing from our own knowledge and experience and from that of client countries and partners, we will impart to our clients the most current knowledge to support their development goals, leveraging technology's vast potential to make this knowledge accessible to all. We will do this in a way that makes the Bank more approachable, accessible, and understandable.
Since launching in May, the Compact has detailed this revitalized approach to Knowledge, which includes:
Making data accessible via the new data360 initiative, a user-friendly platform that will integrate data and knowledge sourced from the Bank Group's work, client countries, partners, and the wider world¡ªall curated by the Group¡¯s technical teams.
Forging strategic partnerships, emphasizing those emerging from our client countries, a fertile source of development strategies and valuable learning.?A newly launched partnerships charter supports this effort.
Elevating learning and knowledge exchange through the new , delivering capacity- and skill-building as core client services.
Accelerating countries' digital transformations by providing policy guidance and technical assistance, facilitating access to digital services, and delivering cutting-edge research and thought leadership in digitalization.?
Ensuring that knowledge continues to drive everything we do as an institution, from financing and lending to partnerships, policy advice, and convening power. Surveys show that countries and partners consider the Group's knowledge a critical dimension of our value proposition, at least as valuable as financing.?
In July, we will create the new Digital Vice Presidency. We are streamlining data platforms and launching new, more strategic products and partnerships¡ªalways using the best technology to optimize our efforts.
We will improve how we share learning, know-how, and development solutions with and from partner and client countries worldwide¡ªand ultimately build a learning institution that can identify, develop, and implement the best development ideas.