The Evolution of Development Finance—Reflections on a Career at the World Bank © 2026 Grupo Banco Mundial.

Development finance has evolved over the past decades, and is poised to undergo significant changes in the years ahead. What lessons from the past can help shape a stronger, more resilient global financial architecture that responds to the needs of the future? Axel van Trotsenburg is the World Bank’s Senior Managing Director for Development Policy and Partnerships. On November 19, 2025, reflecting on his 37 years of experience at the World Bank, spanning regions, crises, and major development milestones, Axel joined CGD President Emeritus Masood Ahmed for a conversation on the evolution of multilateralism, the changing landscape of development finance, and the future of international cooperation. © 2026 Grupo Banco Mundial.