World Bank Group Timeline

In support of its new Maximizing Finance for Development (MFD) framework, the World Bank Group adopts the Cascade Approach which leverages and prioritizes private sector support for economic growth and sustainable development. MFD is the Bank’s financing framework for development that will systematically influence all sources of finance, expertise, and solutions to support developing countries’ sustainable growth. Through the “Cascade” approach, the World Bank Group aims to further develop its relationship with the private sector to achieve development targets, as outlined in the Sustainable Development Goals (SDGs), and reserve scarce public financing and resources for where they are needed most. The approach cascades from commercial financing evaluation, analysis, examination, to consideration of public and concessional financing. Some of the expected benefits of this approach are sustainable job creation, local capital market expansion, and mobilization of third-party capital.