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Topic:Finance, Competitiveness & Innovation
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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.

Romania CLR Review FY14-18

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This review of the World Bank Group’s Completion and Learning Report (CLR) covers the Country Partnership Strategy (CPS) and the Performance and Learning Review (PLR) dated November 3, 2016. The original CPS period (FY14-17) was at the PLR stage extended by one year to cover FY14-18. The CLR and this review cover this extended period. Romania is an upper middle-income country with a GNI per Show MoreThis review of the World Bank Group’s Completion and Learning Report (CLR) covers the Country Partnership Strategy (CPS) and the Performance and Learning Review (PLR) dated November 3, 2016. The original CPS period (FY14-17) was at the PLR stage extended by one year to cover FY14-18. The CLR and this review cover this extended period. Romania is an upper middle-income country with a GNI per capita of $9,480 in 2016 and a population of 19.7 million. Romania’s per capita GDP had grown rapidly up to 2009, reducing poverty, but the global financial crisis of 2008 triggered a severe recession. The IMF Article IV report (May 2017) notes that Romania strengthened its economy considerably after the global financial crisis. Romania registered an average annual GDP growth of 3.9 percent during the review period (2014-2016). Public debt and fiscal and current account imbalances are moderate compared to many emerging markets, but significant challenges remain and the momentum of progress in policies has waned. Income convergence with the EU has slowed and poverty is among the highest in the EU. Romania has a Human Development Index (HDI) of .802 in 2015, placing the country in the very high human development category and ranking 50 (of 188) in HDI in 2015. Its Gini coefficient is 28.3 in 2016 (from around 35 in 2010) and its poverty headcount ratio based on the national poverty line is 25.4 percent (average 2014-2016).

Maximizing the Impact of Development Policy Financing in IDA Countries: A Stocktaking of Success Factors and Risks - An IEG Meso Evaluation

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Development policy financing (DPF) has evolved from supporting structural adjustment programs in the 1980s and 1990s to supporting the achievement of the Millennium Development Goals (MDGs) in the 2000s. It has been considered by multilateral and bilateral donors as one of the instruments that would best enable the realization of the Paris Declaration on Aid Effectiveness. However, the use of Show MoreDevelopment policy financing (DPF) has evolved from supporting structural adjustment programs in the 1980s and 1990s to supporting the achievement of the Millennium Development Goals (MDGs) in the 2000s. It has been considered by multilateral and bilateral donors as one of the instruments that would best enable the realization of the Paris Declaration on Aid Effectiveness. However, the use of budget support as a preferred aid modality has been diminishing, especially among European member states. This evaluation is expected to inform decisions on the use of Development Policy Financing (DPF) in IDA countries by providing evaluative insights into drivers of success and risks. This is pertinent in the context of the record replenishment for IDA18 in the face of a declining share of DPF in IDA commitments during the last three IDA cycles. In this context, it is worthwhile to examine the factors that have driven DPF success in the past so as to inform decisions on the role of this development financing instrument in IDA countries going forward.

Engaging Clients for Increased Development Impact: What has IFC Learned

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Engaging Clients for Increased Development Impact: What has IFC Learned
Join this panel of experts as they discuss how to build on lessons learned after a decade of implementing IFC’s client engagement approach, especially in the context of IFC’s current focus on creating markets and maximizing finance for development. Join this panel of experts as they discuss how to build on lessons learned after a decade of implementing IFC’s client engagement approach, especially in the context of IFC’s current focus on creating markets and maximizing finance for development.

Public Finance for Development Evaluation (Approach Paper)

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Sound public finance policies, institutions and outcomes are critical for making fast and sustained progress toward theWorld Bank Group’s twin goals of eradicating extreme poverty and promoting shared prosperity. Public finance encompasses the overall fiscal stance of the government, how governments collect revenues and manage expenditures, and the institutions that enable those outcomes. This Show MoreSound public finance policies, institutions and outcomes are critical for making fast and sustained progress toward theWorld Bank Group’s twin goals of eradicating extreme poverty and promoting shared prosperity. Public finance encompasses the overall fiscal stance of the government, how governments collect revenues and manage expenditures, and the institutions that enable those outcomes. This evaluation aims at assessing the development effectiveness of World Bank activities in public finance support during the period FY08–17, ranging from analytical work to financing and the use of the World Bank’s convening power. The evaluation is meant to contribute to the two primary purposes of evaluation at the World Bank: to promote accountability for delivering on the World Bank’s mandate through the assessment of performance and results in the area of public finance; and to promote learning within the World Bank and with its clients to inform the design and implementation of future interventions in an area that is of high and arguably growing importance for achieving improved development outcomes.

Sierra Leone: Integrated Public Finance Management Reform Project (PPAR)

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This report reviews the Integrated Public Financial Management Reform Project in Sierra Leone, which was approved on June 4, 2009, and became effective on December 15, 2009. It closed on July 31, 2014. The project cost of $23.44 million was financed by a $4 million grant from the International Development Association (IDA) and $17.44 million in grants from the U.K. Department for International Show MoreThis report reviews the Integrated Public Financial Management Reform Project in Sierra Leone, which was approved on June 4, 2009, and became effective on December 15, 2009. It closed on July 31, 2014. The project cost of $23.44 million was financed by a $4 million grant from the International Development Association (IDA) and $17.44 million in grants from the U.K. Department for International Development (DFID) and the European Union (EU), which were channeled through a multi-donor trust fund administered by IDA. The Government of Sierra Leone made a counterpart contribution of $2 million. The project’s objective was to sustainably improve the credibility, control, and transparency of fiscal and budget management. Five components made up the project: (i) strengthening macrofiscal coordination and budget management, (ii) reinforcing the control system for improved service delivery, (iii) strengthening central finance functions, (iv) assisting oversight by nonstate actors (NSAs), and (v) project management. Ratings for the Integrated Public Finance Management Reform Project are as follows: Outcome is unsatisfactory. Risk to development outcome, high, World Bank performance is moderately unsatisfactory, and Borrower performance, moderately unsatisfactory. The major lessons from this project include: (i) In the absence of a conducive PFM policy environment, there are clear limits to what can be achieved through investment project financing alone. (ii) Effective support for improving the demand for good governance can benefit from broadening support beyond civil society organizations to include academia, the media, and the private sector. (iii) In the context of low Internet density, effective public dissemination of state documents calls for combining online publication with alternative means of diffusion. (iv) Effective and sustainable World Bank leadership of multi-donor support to PFM reforms requires a continuous effort by staff to consult with external partners. (v) Effective World Bank support for designing and installing information technology systems requires tailoring solutions to address borrower capacity limitations.

Creating Markets: Learning from World Bank Group Joint Projects

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Creating Markets Learning from Joint Projects
What does the experience from two decades of projects co-financed by two or more World Bank Group institutions tell us about what works for market creation?What does the experience from two decades of projects co-financed by two or more World Bank Group institutions tell us about what works for market creation?

Creating Markets for Sustainable Growth and Development: An Evaluation of World Bank Group Support to Client Countries FY 07-17 (Approach Paper)

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The international development community is increasingly turning to the private sector in its pursuit of the Sustainable Development Goals (SDGs). Involving the private sector as a financier, operator or service provider in SDG relevant areas requires creating markets, i.e., putting in place an enabling business environment, overcoming a range of markets constraints, and/or enhancing competition Show MoreThe international development community is increasingly turning to the private sector in its pursuit of the Sustainable Development Goals (SDGs). Involving the private sector as a financier, operator or service provider in SDG relevant areas requires creating markets, i.e., putting in place an enabling business environment, overcoming a range of markets constraints, and/or enhancing competition through regulatory reform, pioneering investments or innovation. All these creating markets components imply certain roles for the private sector, the government and regulatory authorities. Since the 2002 World Bank Group (WBG) Private Sector Development Strategy creating markets has been a well-established part of the WBG-wide development agenda. The objective of this evaluation is to distill lessons from the Bank Group’s experience in creating markets to leverage the private sector for sustainable development and growth. Such lessons are intended to inform future program development and the upcoming implementation of the Creating market / Cascade approach. In this regard, the evaluation will obtain evidence-based findings, develop broadly-applicable lessons across the Bank Group, and propose appropriate recommendations.

The International Finance Corporation’s Approach to Engaging Clients for Increased Development Impact

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IFC Client Engagement
Client engagement is essential for the IFC to support the private sector, maximize finance for development, and contribute to achieving the World Bank Group's twin goals. This IEG evaluation assesses how the IFC has implemented its strategic approach to client engagement since the early 2000s, and its effects on IFC's clients and the development impact of its operations.Client engagement is essential for the IFC to support the private sector, maximize finance for development, and contribute to achieving the World Bank Group's twin goals. This IEG evaluation assesses how the IFC has implemented its strategic approach to client engagement since the early 2000s, and its effects on IFC's clients and the development impact of its operations.

Creating Markets - Lessons from Experience in Developing Countries

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Creating Markets
What lessons from evaluation are relevant to the success of the World Bank's renewed focus on creating markets?What lessons from evaluation are relevant to the success of the World Bank's renewed focus on creating markets?