This is the 10th Results and Performance of the World Bank Group (RAP) by the Independent Evaluation Group (IEG). The RAP assesses the World Bank Group’s performance by analyzing the achievement of project and program objectives through validated ratings and by classifying these objectives according to their outcome levels. It also explains key results and performance trends and discusses ways in which the Bank Group can continue to enhance its results measurement systems and outcome orientation. Shifting the focus beyond ratings was partially in response to the Board of Executive Directors’ request for more evidence on development outcomes and outcome orientation. It was also prompted by the recent capital increases to the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC), the International Development Association (IDA) Replenishment, and the need to report on a wider range of project and country outcomes from that expanded resource base.
Box 1.1. Key Terms in This Report
Project development objectives: World Bank projects’ stated objectives framed as a positive outcome. In the International Finance Corporation’s new Anticipated Impact Monitoring and Measurement system, project claims and market claims are similar statements of objectives or intended outcomes.
Outcome orientation: a term used when the World Bank Group generates credible evidence on the outcomes from its development interventions and uses this evidence to engage clients and adapt interventions and portfolios to bolster performance
Outcomes: changes in behaviors, conditions, or situations resulting from Bank Group activities. Outcomes include intended, unintended, positive, and negative changes.
Ratings: a measure of projects’ and programs’ success relative to objectives stated at approval or revised subsequently. Different aspects of projects and programs have separate ratings. For World Bank projects, the outcome rating measures how effectively and efficiently the project achieved its relevant objective.
Results: an all-encompassing term that refers to the outputs and outcomes from a development intervention
Results measurement systems: measurement systems that add up ratings and indicators from multiple projects and programs. The Bank Group has different primary results measurement systems for its main business lines, including World Bank, International Finance Corporation, and Multilateral Investment Guarantee Agency projects and country programs. The Bank Group also has different aggregated results measurement systems, such as the Corporate Scorecards and the results measurement systems for International Development Association, gender, and climate change.
Self-evaluation: the formal, empirical assessment of a project, program, or policy written by or for those in charge of the activity
Validation: the Independent Evaluation Group’s independent, critical review of the evidence, results, and assessments from self-evaluations
Source: Independent Evaluation Group
This report examines ratings and outcomes from different perspectives using evidence from the Bank Group’s results measurement systems (see box 1.1 for key terms). Previous RAPs have relied on the project and country program ratings that these systems collect to understand the Bank Group’s results and performance. However, these results measurement systems contain much more evidence and many more indicators beyond project and program ratings. This report breaks with tradition and analyzes this larger evidence base to also describe outcomes and classify outcome levels, particularly for closed and rated World Bank projects and for recently approved World Bank and IFC projects. It also reviews how results measurement systems for select corporate priorities add up results. To do so, the report synthesized sectoral theories of change derived from World Bank and IFC projects, among other sources, to build an outcome classification framework that could classify interventions’ stated objectives along a change pathway. Figure 1.1 defines this framework. In doing so, the report could examine different types and levels of outcomes and how these relate to performance, and assess the line of sight, or connection, between the Bank Group’s results measurement systems and higher-level outcomes.
This report is in two parts. Part I is on performance as assessed through ratings and reports ratings trends for projects and country programs and identifies explanatory factors behind portfolio performance. Part II is on assessing outcome levels and classifies objectives according to their outcome levels, examines links between performance and outcome levels, and discusses results measurement systems’ outcome orientation. The RAP concludes with some key findings and implications for the Bank Group’s coronavirus (COVID-19) pandemic response and its outcome orientation.