Director - Anonymous employee World Bank Group Employee Review

The work revolves 100% around internal politics. New business origination and innovation are irrelevant. No one cares about the quality of the work or doing things better. 100+ offices globally are far from competetent and work as embassies where all people care about is the politics at the HQ and are shockingly removed from the local business flow. Local knowledge gained through local presence is nonexistent and whatever little local knowledge there may be cannot be communicated effectively as all the regions are worried about is trying to make their region look good, stuff deals in the balance sheet through misrepresenting and lying about the merits of transactions(including receiving bribes from clients) and get their promotions. There is no central and consistent control of underwriting quality. Terrible place to learn or to have a career. Work environment is much worse than the government as there is no accountability of anyone at any level. Due to a lot of the developments in EM over the past 60 years IFC has become a disintermediated institution and is totally irrelevant in many EM markets. However, neither the management nor the shareholders are honest enough to acknowledge this and there is major lack of direction or a sense of mission.