By Nick Mann | 28 March 2012

The World Bank will focus on building ‘capable, transparent and accountable’ institutions in countries it supports as well as monitoring its programmes more rigorously, according to its updated governance and anti-corruption strategy.

The Bank’s board met yesterday to agree the strategy, which revises the 2007 version to take into account ‘fundamental implications’ events such as the global financial crisis.

In particular, the strategy identifies systems and processes within individual countries as the ‘key drivers’ of development. Assistance should aim to strengthen systems of governance and sectoral institutions, which the Bank should use for its projects ‘wherever feasible and appropriate’.

There is an increasing acceptance that transparency and openness are fundamental elements of institutional development, the Bank said, which has been highlighted by recent events in the Middle East and North Africa.

‘Increasingly, the Bank will support initiatives that enable greater openness in governments and the closer interaction among citizens, the private sector and the state,’ the strategy explains.

Emphasis will also be placed on developing ways to measure the quality of the institutions the Bank supports. It will also develop a ‘more rigorous framework’ for measuring results in general, to ensure its programmes are helping to achieve development outcomes.

It will also expand its work on improving global governance, using its size and scope worldwide. This could include protecting the integrity of transnational flows of money and guarding against illegal trade in natural resources, the strategy said.

Linda Van Gelder, the Bank’s director for public sector and governance, said: ‘Accountable institutions are needed to improve development effectiveness, reduce poverty and promote inclusive economic growth.

‘Our updated strategy will help build those institutions for better governance around the world. The Bank’s country-driven approach will be supported by global initiatives against anti-corruption and malfeasance.’