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FEATURE STORY September 15, 2021

World Bank in Malaysia

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ľ¹ÏÓ°Ôº has a long-standing relationship in Malaysia since its independence. Our partnership has evolved from development financing from the 1950s to the 1990s to leveraging the Bank's knowledge and research in it's current form of collaboration. In 2015, the Government invited the World Bank to open an office in Kuala Lumpur with a 5-year partnership under the Office Support Agreement (OSA) focused on disseminating Malaysia¡¯s development experiences and policy innovations for the benefit of other countries; conducting original economic research; and sharing global experience and expertise in support of Malaysia¡¯s development priorities. Today, the World Bank brands itself as an Inclusive Growth and Sustainable Finance Hub - reflecting the development ambitions of Malaysia to achieve inclusive growth, greater shared prosperity and developed nation status; and to retain its global leadership role in the area of sustainable finance.
Our work with Malaysia consists of three core pillars:
 
Supporting Inclusive Growth
As Malaysia is projected to transition into a high-income economy in the next few years, ensuring sustainable and inclusive growth will be policy areas. In supporting the country¡¯s shared prosperity agenda, our knowledge and research work encompassed areas of growth and inclusion, private sector competitiveness, and human capital development.
 
Promoting Sustainable and Islamic Finance
Sustainable finance has become an increasingly important tool to support Malaysia¡¯s vision of shared prosperity while achieving sustainable development. Working with stakeholders, the World Bank continues its knowledge, technical assistance and research towards developing a sustainable, inclusive and resilient financial sector.
 
Strengthening Governance
Countries with strong institutions are more resilient, facilitate private sector growth, reduce poverty, deliver high-quality services, and earn the confidence of its citizens. Working towards enhancing these outcomes for Malaysia, we have continued developing new measures to improve public sector productivity, improve planning and fiscal management, and enhancing transparency in government institutions and operations.

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VIDEO Dec 07, 2022

The Value of Partnership - World Bank and Malaysia

ľ¹ÏÓ°Ôº Group Inclusive Growth and Sustainable Finance Hub reached the halfway point of ¡®OSA 2.0¡¯ ¨C or Office Support Agreement 2.0 ¨C during FY23. Following a successful Annual Review for FY22 in late-June 2022, we aligned our work program with the Government's priorities to provide relevant analytical work and technical assistance (TA) for better policymaking.

Amidst the challenges posed by the COVID-19 pandemic, global impacts, and policy changes in Malaysia, the World Bank Group Inclusive Growth and Sustainable Finance Hub adapted its work program to address immediate economic needs while pursuing long-term priorities. The Hub engaged in various activities, such as webinars, advisory services, policy notes, and in-depth reports, to foster inclusive growth and sustainable finance.

The 2021 financial year was exceptional for the World Bank Group¡¯s presence in Malaysia. It marked the beginning of our second phase of operations in Malaysia, from 2021 to 2025, as the World Bank Group Inclusive Growth and Sustainable Finance Hub in Malaysia. Our Annual Report looks back at the key highlights and activities undertaken by the Hub in the past year. Please refer to the Annual Report to get to know the Malaysia work program.

2020 was a year of transition for the World Bank Group in Kuala Lumpur as it marked the end of its first five-year term. The Hub prepared for its second phase as the World Bank Group Inclusive Growth and Sustainable Finance Hub, responding rapidly to support Malaysia during the COVID-19 pandemic. The Annual Report reflects on the first phase's work and looks ahead to preparations for the second phase of operations.

The Hub partners with stakeholders, conducts research, and provides policy recommendations to policymakers, industry, and academia. This Annual Review Report highlights the progress made during a critical period of change and continuity. The Hub's diverse reports, publications, conferences, and discussions have benefited various sectors in Malaysia and lower- and middle-income countries, strengthening policymaking and institutional capacity in Malaysia.

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