The World Bank has to change. A whole bunch of people were discussing what to do and how to do it last week in Istanbul. Of course nothing will change as those who can make it happen would lose. "Oddly [read obviously], the Zedillo Commission report on reforming governance at the World Bank has yet to be released—although it is said to be complete. President Zoellick announced the creation of the commission in a speech one year ago at the Peterson Institute for International Economics, and he has evidently received the report. My guess is there is something about it that disappoints him, perhaps regarding the role of the Bank’s Board – or something sufficiently controversial he didn’t want it crowding out his calls for more IDA funding and a capital increase?" (source: CGD)
I think the WB should be downsized and divided into focused and autonomous units. And Bill Easterly or Simeon Djankov should be director. That Brazil and China should have more say in its governance goes without saying.