It is now time to deliver with an effective implementation of WBG projects. Large, transformative development solutions require a focus on results and appropriate fiduciary and safeguards policies to manage risks. The IBRD should focus on financing long-term structural projects, even if the shift toward investment lending is likely to reduce the growth of the IBRD loan portfolio.
Presumably, such changes may include a different balance between bank-based and market-based financial intermediation. As regulators of banks and thrifts, our job is not to determine what this balance should be.