It is good to see that 'risk' is now being considered. But as a former WB staffer I fear that management focus on eliminating even basic economic and financial discourses in operations - let alone: theoretical background, definitions, due diligence and process - will mean such development banks and 'innovative' finance vehicles (for example the Global Fund) are simply talking abstractly about 'risk' after the fact; and failing to examine what senior managers failed to listen to the train coming down the track before the fact (and why).
So let's see what the current re-organisation therefore brings and whether a 'knowledge bank' that cannot provide more concrete (positive) incentives (the stick and negative incentives belong to others) can continue to exercise its historical power to influence popular discourses? On the other hand, the best way forward maybe to just recover traditional instruments that where build on risk analysis (and yes that means dusting off those old economics books from for example von Neumann and Morgenstern or Arrow)and re-spin them taking account of sociological processes:
This is also a cross post from The Broker blog.