Issue congruence in international organizations: A study of World Bank spending

International organizations (IOs) are often criticized for insulated decision-making processes that do not react to the preferences of key stakeholders that are directly affected by them. However, empirical studies probing the degree to which IOs' policies are aligned with the preferences of such key constituencies are scarce. This paper tackles the gap by studying the case of the World Bank. We argue that congruence with stakeholder preferences increases when recipients have institutional means of participation and decreases when donors restrict the purposes of their funds. We utilize survey data from 269 stakeholder surveys conducted in 114 countries between 2012 and 2022 for our empirical analysis. Our findings carry important implications for the responsiveness of IOs to stakeholders in low- and middle-income countries.