World Bank - ILO partnership

The World Bank Group (WBG) and the ILO bring complementary strengths and approaches to their partnership, which seeks to address the challenges of poverty and exclusion, a global financial and jobs crisis, and growing inequality. At the basis of the ILO-World Bank collaboration is the shared goal of leaving no one behind in alignment with the 2030 Agenda for Sustainable Development.

Through multiple joint initiatives, including the Global Accelerator on Jobs and Social Protection for Just Transitions and the World Bank’s Social Protection and Jobs Compass (M-GA), the partnership works to close gaps in social protection, accelerate progress toward Universal Social Protection (USP) by 2030, and create decent jobs in emerging sectors.

Governance structures, including a Coordinating Council and a dedicated Management Team with representatives from both organizations, ensure strategic guidance and effective collaboration at global and country levels. Together, they support governments, social partners, and civil society in advancing just transitions and sustainable growth.

This partnership is reflected in a growing portfolio of joint projects worldwide:

Collaboration with the International Finance Corporation

Within the broader partnership, The ILO and International Finance Corporation (IFC) collaborate to promote decent work and foster private sector growth globally. While the IFC brings critical investments to private sectors that drive job creation and economic opportunities, the ILO leverages on its expertise in standard setting, labour statistics and analysis to ensure that these investment operations are embedded in coherent policies and deliver outcomes that are aligned with social objectives. Together, we work to generate more and better jobs at destination countries where IFC’s investment operations take place.

• Better Work programme: The ILO and IFC join forces to improve labour standards in global supply chains, especially in the garment sector. The ILO provides technical expertise, guidance and training to ensure factory compliance with international labour standards, while the IFC offers strategic direction, pilots initiatives to enhance productivity and gender outcomes, and provides financing to support sustainable business practices.
• The PROSPECTS initiative: Led by the Dutch government, the initiative unites the ILO, IFC, and other international partners to improve education, economic inclusion, and social protection for forcibly displaced persons and host communities in countries like Kenya, Lebanon, and Jordan.
• Employment impact assessment: The ILO and IFC collaborate to enhance methodologies for measuring job quality and quantity generated by investment projects, sharing best practices and strengthening evaluation capacity.
• Social Safeguards: The ILO and IFC established a working group in 2024 to align IFC’s Performance Standards with ILO conventions, enhancing compliance across sectors. Through workshops and cross-training, the working group promotes labour safeguards, skill development, and women’s economic participation, creating pathways for sustainable development.
• IFC and ITC-ILO Collaboration: IFC has significantly contributed to three ITC-ILO trainings programmes, including 1) making finance work for refugees, displace, and host communities, 2) Boulder microfinance training program, and 3) impact insurance academy, participating in training delivery and client engagement.