IEG’s Results and Performance of the World Bank Group 2023 report, also known as the RAP 2023, examines the evolution of project-level results and performance of the World Bank Group, including the World Bank, comprising the International Bank for Reconstruction and Development, the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). The report also analyzes the project development outcomes that underlie project performance ratings, and the validity of the monitoring and evaluation (M&E) frameworks tasked with measuring them.
This is the first RAP with a substantial number of projects that were implemented during the COVID-19 pandemic. World Bank, IFC, and MIGA projects faced many obstacles during implementation, especially disruptions associated with the COVID-19 pandemic. The report examines the factors that shaped the implementation and performance of these projects, particularly in the context of the pandemic.
In terms of methodology, the report incorporates novel data and evaluation methods, including supervised machine learning, and conducts similar analyses across the different Bank Group Institutions while taking into account each institution’s different evaluation and rating methods. The RAP updated project performance rating trends - covering World Bank lending projects, IFC investment and advisory projects, and MIGA guarantee projects - from fiscal year (FY)12 to FY 22. It used in-depth analyses to examine the evolution of development outcomes, how they relate to project performance ratings, and what factors influenced the implementation and performance of Bank Group projects within the context of the pandemic. The report offers future directions of travel for the three institutions across the World Bank Group.