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Topic:Finance, Competitiveness & Innovation
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World Bank Group’s Support for Crisis Preparedness: Addressing Fiscal and Financial Sector Vulnerabilities (Approach Paper)

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The purpose of this evaluation is to assess the Bank Group’s support to client countries to enhance their preparedness for exogenous shocks through more systematic ex ante identification of vulnerabilities complemented by support to address these vulnerabilities. The evaluation is focused on the period between FY2010 and FY2018, after the global recession, to evaluate whether the Bank Group had Show MoreThe purpose of this evaluation is to assess the Bank Group’s support to client countries to enhance their preparedness for exogenous shocks through more systematic ex ante identification of vulnerabilities complemented by support to address these vulnerabilities. The evaluation is focused on the period between FY2010 and FY2018, after the global recession, to evaluate whether the Bank Group had integrated lessons from the global crisis. This evaluation aims to inform the design and use of WBG strategies, operations, diagnostics and knowledge products that support crisis preparedness in both low-income and middle-income countries.

IEG Work Program and Budget (FY20) and Indicative Plan (FY21-22)

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To maximize its relevance and value added for the World Bank Group (WBG), IEG will align its work program with WBG strategic priorities. IEG also aims to maintain a clear line of sight with the WBG mission and the Sustainable Development Goals (SDGs), as well as with commitments made in the IBRD and IFC Capital Packages and in the context of IDA replenishments. Furthermore, IEG will keep an Show MoreTo maximize its relevance and value added for the World Bank Group (WBG), IEG will align its work program with WBG strategic priorities. IEG also aims to maintain a clear line of sight with the WBG mission and the Sustainable Development Goals (SDGs), as well as with commitments made in the IBRD and IFC Capital Packages and in the context of IDA replenishments. Furthermore, IEG will keep an increased focus on outcomes, countries, clients, and beneficiaries in its work, and aim to foster a greater outcome orientation throughout the WBG. To achieve this strategic vision, IEG will focus its work program on the key development effectiveness questions that the institution and its clients are most concerned about. For each of these questions, we will strive to answer “why”, “how, “where”, “when”, and “for whom” specific interventions or programs have achieved results or not. By working more closely with operational units and other evaluation initiatives across the WBG, we will seek to significantly enhance IEG’s value added for the Board and WBG management. The work program will be anchored around a series of “streams”, building evidence over time on connected themes and trying to bridge between project, country, sector and strategic impact: Fragility, Conflict and Violence (FCV), Gender, Maximizing Finance for Development, Human Capital, Climate Change, Growth and Transformation. In addition, IEG will work along an ‘effectiveness’ cross-cutting stream, aimed at examining systemic issues in WBG effectiveness, as well as working towards building a stronger outcome focus for WBG operations and strategies.

Poland: Public Finance, Resilience and Growth Development Policy Loans (PPAR)

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This Project Performance Assessment Report (PPAR) evaluates four lending operations implemented in Poland from 2012 to 2016. The development objectives of the first series were to support Poland’s fiscal consolidation agenda while strengthening fiscal institutions and improving the efficiency and sustainability of social spending. The objectives of the second series were to enhance macroeconomic Show MoreThis Project Performance Assessment Report (PPAR) evaluates four lending operations implemented in Poland from 2012 to 2016. The development objectives of the first series were to support Poland’s fiscal consolidation agenda while strengthening fiscal institutions and improving the efficiency and sustainability of social spending. The objectives of the second series were to enhance macroeconomic resilience, strengthen labor market flexibility and employment promotion, and improve private sector competitiveness and innovation. Ratings for the First and Second Public Finance Development Policy Loans are as follows: Outcome is satisfactory, Risk to development outcome is low, Bank performance is satisfactory, Borrower performance is moderately satisfactory. Ratings for the First and Second Resilience and Growth Development Policy Loans are as follows: Outcome is moderately satisfactory, Risk to development outcome is moderate, Bank performance is satisfactory, and Borrower performance is satisfactory. Lessons include: (i) Development policy lending can help mitigate global economic and financial shocks and protect vulnerable groups in high-income countries when accompanied with timely, high-quality, and responsive technical assistance that supports the reforms. (ii) Where a high-income country is required to implement constitutional provisions or agreed reforms with a regional body, providing support for the implementation of such reforms is likely to enhance the likelihood of success. (iii) RAS are a promising tool for engaging governments in high-income countries when Bank Group staff demonstrate the capacity to produce timely and high-quality analytical products in response to government requests. (iv) Coordinating with other partners in situations where the World Bank is not the largest stakeholder is important for successful implementation of reforms. (v) Analyzing the political cost of implementing proposed reform measures is an important part of policy lending.

Creating Markets to Leverage the Private Sector for Sustainable Development and Growth

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Creating Markets to Leverage the Private Sector for Sustainable Development and Growth
With a strong learning focus, this evaluation is intended to inform the implementation of IFC’s corporate strategy (IFC 3.0) and the contributing roles of the World Bank and MIGA to that strategyWith a strong learning focus, this evaluation is intended to inform the implementation of IFC’s corporate strategy (IFC 3.0) and the contributing roles of the World Bank and MIGA to that strategy

North Macedonia CLR Review FY15-18

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The Republic of North Macedonia (North Macedonia) is an upper middle-income country which is small and land-locked. The World Bank Group's (WBG) Country Partnership Strategy (CPS) had two pillars (or focus areas): (i) growth and competitiveness, and (ii) skills and inclusion. The CPS was broadly aligned with the government's 2014-2018 program, which sought increased growth and employment, Show MoreThe Republic of North Macedonia (North Macedonia) is an upper middle-income country which is small and land-locked. The World Bank Group's (WBG) Country Partnership Strategy (CPS) had two pillars (or focus areas): (i) growth and competitiveness, and (ii) skills and inclusion. The CPS was broadly aligned with the government's 2014-2018 program, which sought increased growth and employment, international integration, reduced corruption and more efficient law enforcement, better inter-ethnic relations, and investments in education, innovation and technology. Specifically, the CPS supported the growth and employment, infrastructure, social protection, and education pillars of the Government's program and the government's efforts to stabilize public debt. The European Union (EU) accession agenda was a cross-cutting theme in the CPS. At the PLR stage, the CPS maintained its overall focus, albeit with some changes in emphasis, and was aligned with the new Government program (2017-20) that focused on growth, jobs, and social protection, among other areas.

The World Bank Group’s Approach to the Mobilization of Private Capital for Development - An IEG evaluation (Approach Paper)

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Transformations in the global economy and international finance have reinforced the view that private sector and private capital are key to economic development. Private capital is expected to play an increasingly important role given the relative high volume of financial resources at its disposal: an estimated US$15 trillion--excluding international bond markets—compared with ODA annual flows of Show MoreTransformations in the global economy and international finance have reinforced the view that private sector and private capital are key to economic development. Private capital is expected to play an increasingly important role given the relative high volume of financial resources at its disposal: an estimated US$15 trillion--excluding international bond markets—compared with ODA annual flows of just US$150 billion, international public finance flows of US$ 2 trillion and domestic resource mobilization of US$ 12 trillion. The Sustainable Development Goals identify global development priorities and highlight potential uses of private capital. This evaluation has two key objectives: (a) to gain a better understanding of the WBG’s approach to private capital mobilization (for e.g. instruments, engagements with investors and clients), its relevance for client countries and its contribution to development outcomes; (b) to identify the factors and enabling conditions that contribute to successful outcomes in mobilizing private capital for development. The evaluation will synthesize lessons of good practice to help the WBG enhance its future capital mobilization role.

Zambia CLR Review FY13-17

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The review of Zambia’s completion and learning review (CLR) of the World Bank Group’s (WBG) country partnership strategy (CPS) covers the period FY13-FY17. The WBG’s CPS had three focus areas: (a) reducing poverty and vulnerability of the poor; (b) improving competitiveness and infrastructure for growth and employment; and (c) improving governance and strengthening economic management. Cross- Show MoreThe review of Zambia’s completion and learning review (CLR) of the World Bank Group’s (WBG) country partnership strategy (CPS) covers the period FY13-FY17. The WBG’s CPS had three focus areas: (a) reducing poverty and vulnerability of the poor; (b) improving competitiveness and infrastructure for growth and employment; and (c) improving governance and strengthening economic management. Cross-cutting elements included regional integration, strengthening institutional capacity, and addressing governance, gender, and climate change challenges. The CPS was aligned with the government’s sixth national development plan 2013-2016, which aimed to accelerate infrastructure development and economic diversification, promote rural investment, accelerate poverty reduction, and enhance human development. Independent Evaluation Group (IEG) rates the CPS development outcome moderately unsatisfactory. The CLRR agrees with the CLR lessons as specified: (a) collaboration and coordination among stakeholders is critical to improving portfolio quality, (b) the number and design of projects should consider implementation capacity of the country and supervision capacity of the WBG, (c) WBG projects should be reflected in, and aligned with, the government program, (d) the WB can be effective in strengthening institutions at the local level, and (e) incorporating accountability measures in project designs promotes good governance, transparency, and oversight.

Paraguay CLR Review FY15-18

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Paraguay - Completion and Learning Review for the Period FY15-FY18 : IEG Review (English) Paraguay is an upper middle-income country with a population of 6.8 million (2017) and a GNI per capita (Atlas method) of USD 3,920 in 2017.The population is very young (60 percent under thirty years old) and the country is going through a rapid urbanization process from a low base. The country has over Show MoreParaguay - Completion and Learning Review for the Period FY15-FY18 : IEG Review (English) Paraguay is an upper middle-income country with a population of 6.8 million (2017) and a GNI per capita (Atlas method) of USD 3,920 in 2017.The population is very young (60 percent under thirty years old) and the country is going through a rapid urbanization process from a low base. The country has over the last 15 years achieved solid economic growth (average GDP growth of 4.7 percent per annum) and improved shared prosperity, spurred by abundant natural resources. The CPS for the World Bank Group (WBG) had three pillars (or focus areas): (i) resilience to risks and volatility; (ii) pro-poor delivery of public goods and services; and (iii) agricultural productivity and market integration. The Country Partnership Strategy (CPS) focus areas and objectives were broadly aligned with the government's National Development Plan (NDP) 2014-2030 and supported the NDP's higher level objective to reduce extreme poverty and foster income growth of the bottom 40 percent. The WBG's program components were well aligned with the NDP and addressed important development issues. The program was selective with three focus areas and eight objectives (some of which, however, contained multiple sub-objectives). The Bank demonstrated flexibility by shifting to knowledge services when the demand for IBRD lending dropped in the run-up to the election. However, the results framework had significant shortcomings which were not fully addressed at the PLR stage. The Completion and Learning Review (CLR) highlighted six lessons with which IEG concurs: (i) simplicity in project design helps speed up project implementation; (ii) investment projects may help to build governance and capacity; (iii) a realistic results framework is needed for timely achievement of objectives; (iv) a strong ASA program requires selectivity and government ownership; (v) RASs may help prioritize ASA demand and advance reforms during Paraguay's long project preparation cycles; and (vi) the flexibility afforded by programmatic ASA helps respond to changes in client needs.

Albania Country Program Evaluation

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The primary goal of the evaluation is to assess the Bank Group’s development effectiveness in Albania during the period FY11-19 and to inform the design and implementation of its future activities in Albania. The Country Program Evaluation (CPE) will place strong emphasis on assessing World Bank Group strategic positioning and program delivery to help Albania achieve its development goals, Show MoreThe primary goal of the evaluation is to assess the Bank Group’s development effectiveness in Albania during the period FY11-19 and to inform the design and implementation of its future activities in Albania. The Country Program Evaluation (CPE) will place strong emphasis on assessing World Bank Group strategic positioning and program delivery to help Albania achieve its development goals, notably that of European Union (EU) accession. The selection of Albania is motivated by the important challenges the country has faced since the 2008 financial crisis in sustaining the major development gains achieved following the opening of the economy in the early 1990s. The report seeks to provide inputs for the next Country Partnership Framework (CPF), scheduled for Board discussion in FY21. While the CPE is primarily aimed at informing future WBG support to Albania, the evaluation findings are expected to provide lessons for WBG programs in countries that share similar characteristics and aspirations—for example, other small-size, middleincome countries seeking to achieve high rates of growth and poverty reduction, facing the challenge of employment creation, or aspiring to join the EU.

Burkina Faso: Growth and Competitiveness Credits 1-4 (PPAR)

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This Project Performance Assessment Report (PPAR) evaluates the Growth and Competitiveness Credit Development Policy Financing series (I–IV) implemented in Burkina Faso between 2012 and 2015. The total cost of the four operations was $359 million equivalent. The first operation was approved by the Board of the International Development Association (IDA) on June 26, 2012, and the last on April 2, Show MoreThis Project Performance Assessment Report (PPAR) evaluates the Growth and Competitiveness Credit Development Policy Financing series (I–IV) implemented in Burkina Faso between 2012 and 2015. The total cost of the four operations was $359 million equivalent. The first operation was approved by the Board of the International Development Association (IDA) on June 26, 2012, and the last on April 2, 2015. The series closed on December 31, 2015. The Independent Evaluation Group (IEG) prepared the report based on interviews, a review of World Bank files, and documents and data collected during a field visit to Burkina Faso in November 2017. The mission met with World Bank staff, government officials, beneficiaries of the reforms, donors, academia, and civil society groups. The evaluation also draws from interviews with the task team leaders and country manager of Burkina Faso. The series followed 11 budget support operations of the Poverty Reduction Support Credits and Grants 1–11 in Burkina Faso and was the only type of development policy operation financed by IDA resources during the period.