| Summary/Abstract |
For some time now, there has been a push for the World Bank to shift its focus toward global public goods (GPGs). These are goods that, once delivered, can be unrestrictedly consumed by most—if not all—countries on the planet. Nor are their benefits rivalrous. Moreover, the production of GPGs cannot be left to markets or individual countries, as these have suboptimal incentives to act. In the wake of the COVID-19 outbreak, the concept of GPGs has seen a revival of sorts, with the pandemic not only striking just as multilateralism was at its lowest ebb, but also serving as irrefutable proof that the world needs international collaboration now more than ever. Multilateral institutions, and in particular the World Bank—a leading global institution with global membership—can rightfully be regarded as a possible solution to many global challenges. Based on interviews conducted with World Bank senior staff, as well as numerous experts, this article discusses arguments in favor of such a strategic shift. While there are legitimate claims for the Bank becoming a full-fledged provider of GPGs, the institution’s historical roots and operational constraints make this an unlikely prospect.
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