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  • Independent Evaluation Group  (115)
  • International Monetary Fund  (76)
  • Washington, D.C : The World Bank  (191)
  • Wiesbaden : Springer VS
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  • 1
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Conflict and Fragility ; CPE ; Development Economics and Aid Effectiveness ; Drought and Climate Shocks ; Macroeconomics and Economic Growth ; Mavroeconomic Vulnerabilities ; Unsustainable Development ; Weak Business Environment
    Kurzfassung: The objective of this Country Program Evaluation (CPE) is to assess how well the World Bank Group supported Ethiopia in addressing key challenges that constrained its development and how that support adapted over time to respond to changing circumstances, an evolving relationship, and lessons from experience. The evaluation will cover fiscal years (FY)13-23. The time period is selected to include the last two Bank Group strategies to support Ethiopia and coincides with the period of theprevious two political administrations. The evaluation aims to inform the next Bank Group-supported Country Partnership Framework (CPF) for Ethiopia expected in FY25
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  • 2
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Climate Change ; Conflict ; CPE ; Development Challenges ; Finance and Development ; Finance and Financial Sector Development ; Natural Disasters
    Kurzfassung: This Country Program Evaluation (CPE) will assess the performance of the World Bank Group's support to Nepal in achieving its development objectives between 2014 and 2023. The evaluation will focus on the Bank Group's support to Nepal as it tackled its long-term development challenges while undertaking political and institutional reforms relating to the shift to federalism and responding to multiple shocks and disasters. This period covered by this evaluation spans the last two country strategies--the FY14-18 Country Partnership Strategy (CPS) and the FY19-23 Country Partnership Framework (CPF). The CPE will assess the adaptive relevance and coherence of the Bank Group-supported program by examining how the Bank Group has adapted its support over time in response to changing conditions and priorities. This will include an examination of the Bank Group's response to the 2015 earthquakes and the COVID-19 pandemic. The evaluation will assess the Bank Group's work in three important thematic areas--resilience to natural disasters, federalism, and jobs and private sector development--in greater depth
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  • 3
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): IDA ; International Development Association ; Private Sector Development ; Private Sector Economics ; Private Sector Window ; PSW
    Kurzfassung: Attracting private capital and developing the private sector in low-income countries are challenging. The challenges involved in mobilizing private capital and developing the private sector in many IDA countries, especially those that are fragile and conflict-affected situations (FCS), are substantial (World Bank 2016). In many of these countries, the domestic private sector is small, informal, and constrained by a weak macroeconomic and regulatory environment, infrastructure bottlenecks, and a limited skilled labor force. High country risks and capital flight concerns make domestic and international investors reluctant to engage, particularly in FCS, which also experience security risks. As a result, IDA countries' ability to attract private investment and grow the local private sector remains limited. The assessment will update a previous IEG evaluation of the Private Sector Window (PSW) and complement a concurrent paper by the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). This focused assessment (the PSW evaluation update) responds to a request by the Committee on Development Effectiveness and World Bank Group management for IEG to prepare an update to The World Bank Group's Experience with the IDA Private Sector Window: An Early-Stage Assessment (World Bank 2021), which was completed by IEG in July 2021 and covered the PSW implementation experience under the 18th Replenishment of IDA (IDA18) for fiscal years 2018-20. The PSW evaluation update will add IDA19 and early IDA20 PSW projects. Concurrently, IDA, IFC, and MIGA are jointly preparing a paper on the PSW as an input to the IDA20 Mid-Term Review, focused on implementation progress and early results of the PSW (the IDA PSW paper). The IEG and IDA-IFC-MIGA teams working on the two assessments have agreed to conduct complementary analyses to inform the Mid-Term Review
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  • 4
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Access To Finance ; COVID-19 ; Disease Control and Prevention ; Finance and Financial Sector Development ; Health, Nutrition and Population ; Judicial Sector Reform ; Law and Development ; Public Administration ; Public Finances
    Kurzfassung: This report assesses the relevance and effectiveness of the World Bank's engagement in the Kyrgyz Republic between fiscal years 2014 and 2021. The Kyrgyz Republic is a landlocked, lower-middle-income country that is highly dependent on remittances and natural resources. Poverty levels declined from 37% in 2013 to 20% in 2019. However, the country's population remains vulnerable, and broad-based economic growth was elusive over the evaluation period. The Kyrgyz Republic faces major development challenges including weak governance, barriers to private sector development, and low quality of essential local public services. This Country Program Evaluation assesses the relevance and effectiveness of the World Bank's engagement in the Kyrgyz Republic between fiscal years 2014 and 2021. It evaluates the Bank's contributions to the country's development in priority areas, focusing on support for governance, private sector development, and essential local public services. The evaluation distills lessons from Bank Group experience to inform future Bank Group engagement in the Kyrgyz Republic
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  • 5
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Climate Change Impact ; Coastal and Marine Environment ; Coastal and Marine Resources ; Environment ; Environmental Economics and Policies ; Fisheries ; Global Protein Supply ; Maritime Industries ; Ocean Freight ; Risk To Ocean Economies ; Sustainable Oceans ; Water Resources
    Kurzfassung: Marine and coastal resources are critical for human survival. The economies of many coastal developing countries and small island developing states rely heavily on maritime industries, associated trade, and tourism. In coastal and island developing countries, small-scale fisheries and other ocean sectors support a significant number of jobs and livelihood opportunities. Marine and coastal resources also provide critical ecosystem services on which the ocean economy relies. Yet historically, ocean-based sectors have expanded without sufficient consideration for sustainability, negatively impacting marine and coastal environments. Moreover, the negative impacts of climate change are exacerbating the serious threats posed to ocean economies. Coastal developing countries and small island developing state economies that heavily rely on tourism were negatively affected by COVID-19, and while there were some positive environmental effects, these have been short lived. Critical knowledge and skills gaps undermine the ability of many countries to sustainably manage their marine and coastal resources. Addressing the threats posed to marine and coastal resources is politically challenging since coastal areas attract many competing uses and diverging interests. The purpose of this evaluation is to assess how well the World Bank is supporting the sustainable and inclusive development of ocean and coastal economies to inform the future development of the blue economy approach
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  • 6
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Development Effectiveness ; Governance ; Governance Indicators ; International Economics and Trade ; Procurement Capacity Building ; Procurement Of Goods ; Procurement Of Services ; Procurement Reform ; Public Procurement ; Public Procurement Of Works
    Kurzfassung: In 2015, the World Bank approved a new procurement framework, which aimed to reform its approach to procurement. The World Bank's reform was intended to reform its procurement systems and the way procurement is supported in client countries. The procurement reform emphasized seven core principles of value for money for decision-making, efficiency, economy, integrity, fairness, transparency, and fit for purpose. Anchoring the reform in a set of principles was intended to promote greater flexibility and more effective operational procurement. The procurement reform is a continuous change management process. The objective of the evaluation is to assess the results, successes, and challenges of the World Bank's procurement since the reforms made in 2016 and thus help inform its continuation
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  • 7
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Domestic Revenue Mobilization ; DRM ; Finance and Financial Sector Development ; Financing ; Inflation ; Lending ; World Bank Support
    Kurzfassung: Domestic revenue mobilization (DRM) has become an increasingly important part of international and country-level policy agendas. Since the 2015 International Conference on Financing for Development in Addis Ababa, DRM has risen in importance in the international policy agenda, figuring prominently in successive International Development Association (IDA) replenishments and International Bank for Reconstruction and Development capital package commitments. This evaluation assess the World Bank's support to support client countries in improving domestic revenue mobilization between FY16 and FY19
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  • 8
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Access To Finance ; Assessment of World Bank Effectiveness ; Equity and Development ; Finance and Financial Sector Development ; Financial Inclusion Policy ; Financial Reform ; Financial Services ; Gender ; Gender and Economic Policy ; Institutional Reform ; Poverty Impact Evaluation ; Poverty Reduction
    Kurzfassung: This evaluation explores how and with what effect the World Bank Group has supported financial inclusion for the microenterprises, poor households, women, and other excluded groups. Financial inclusion is defined as the use of financial services by individuals and firms. It encompasses financial access-owning an account-and the use of financial services. There has been an impressive growth in account ownership globally, from 55% of adults in 2014 to 71% in 2021, although usage is more limited as some accounts are inactive. Critically, both financial access and the use of financial services remain major challenges for microenterprises, poor households, women, and other excluded groups. The objective of the evaluation is to assess whether the Bank Group has been doing the right things and whether it has been doing things right on financial inclusion. The evaluation captures lessons from the World Bank's experience supporting financial inclusion for microenterprises, poor households, women, and other excluded groups and updates a 2015 financial inclusion evaluation. The evaluation includes a retrospective look at the drive for universal financial access and examines progress and challenges in women's access to financial services. The evaluation also assesses the Bank Group's support for digital financial services as vehicles for financial inclusion. Finally, the report examines the World Bank's response to COVID-19 as it relates to financial inclusion. The evaluation proposes three recommendations: (i) The World Bank and IFC should further encourage account use by underserved groups, including women and rural poor people, and emphasize this more in their strategies and projects. (ii) The World Bank and IFC should design and implement more comprehensive approaches that address constraints in the enabling environment for DFS to reach underserved and excluded groups. (iii) To enhance learning on what works to increase the beneficial use of financial services at the MPWEG, the World Bank and IFC should collect outcome data across different underserved and excluded groups, initially on a pilot basis
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  • 9
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Constraints ; Economic Development ; Economic Growth ; Macroeconomics and Economic Growth ; Policy Coherence ; Policy Implementation ; SOES
    Kurzfassung: This Country Program Evaluation assesses the development effectiveness of the World Bank Group's support to Morocco between fiscal year FY11 and FY21. The report evaluates the World Bank Group's contribution in solving four systemic constraints to Morocco's development: (i) lack of policy coherence with the country's development aspirations; (ii) an uneven economic playing field that favors some firms and stateowned enterprises (SOEs), creates rent-seeking behaviors, and discourages new entrants; (iii) weak policy implementation caused by the limited public sector capacity to carry out reforms; and (iv) weak citizen, labor force, and subnational participation in the country's development. This evaluation identifies lessons to guide future World Bank engagement in Morocco, including: (a) at times, it is possible for the World Bank to gain traction in Morocco's policy reforms by trading recognition for influence; (b) global benchmarking data can be effectively utilized to motivate reforms; (c) IFC can significantly impact the business environment and financial architecture reforms by effectively deploying its advisory work to influence major companies, including SOEs, in making institutional changes; (d) the experience of PforR operations in Morocco suggests that to maximize their effectiveness, the World Bank needs to proactively involve the full range of stakeholders and ensure resources are deployed for technical assistance gaps; and (e) engagement at the subnational level requires the ability and willingness to take new risks and experiment with new approaches
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  • 10
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Development Challenges ; Economic Growth ; Growth and Job Creation ; Inclusion and Equity ; Labor Markets ; Macroeconomics and Economic Growth ; Resilience ; Social Protections and Labor ; Sustainability
    Kurzfassung: The Country Program Evaluation (CPE) will seek to assess how well the Bank Group-supported strategy was aligned with Georgia's main development challenges and how effective the Bank Group's support was in addressing these challenges. The evaluation seeks to identify lessons that support the further adaptation and refinement of Bank Group engagement in support of the country's development priorities
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  • 11
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: r02
    Schlagwort(e): Gender ; Gender Equality Performance ; Gender Monitoring and Evaluation ; Gender Strategy Results ; Governance ; Independent Gender Evaluation ; International Finance Corporation Results ; International Governmental Organizations ; World Bank Results
    Kurzfassung: This Approach Paper proposes an independent evaluation of the results achieved by the World Bank and the International Finance Corporation (IFC) in supporting countries (understood as governments, private sector, civil society, and citizens at large) to address gender inequalities and the contribution of the gender strategy for fiscal years (FY)16-23
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  • 12
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: r02
    Schlagwort(e): Gender ; IEG Recommendation Implementation ; Independent Evaluation ; Management Action Record 2023 ; Monitoring and Evaluation ; Poverty Reduction
    Kurzfassung: The report provides the Independent Evaluation Group's (IEGs) validation of World Bank Group management's report Learning and Adapting for Outcomes through the Management Action Record 2023: A World Bank Group Management Report on Implementation of IEG Recommendations for the period July 2022 to June 2023. The purpose of the Management Action Record (MAR) assessment system is to support accountability, learning, and adaptation for the Bank Group's implementation of recommendations from IEG evaluations. This validation document presents IEG's assessment of progress toward achieving the intended outcomes of evaluations and the evidence in management's MAR report. The Bank Group made steady progress in implementing IEG recommendations through delivering internal products and adapting processes; in some cases, it has achieved meaningful change of direction that shows that the outcomes of recommendations are being achieved. The validation assessed the evidence for all 22 IEG evaluations included in the MAR, that is, all evaluations reviewed by the Board Committee on Development Effectiveness (CODE) between FY19 and FY22. These 22 evaluations contain 59 recommendations
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  • 13
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): 2018 Capital Increase Results ; Accountability ; Economic Policy, Institutions and Governance ; Final Report Commitment ; Governance ; Independent Evaluation ; International Governmental Organizations ; International Organizations ; Law and Development ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Reduction ; Poverty, Environment and Development ; Transparency ; World Bank Results
    Kurzfassung: This report presents the Independent Evaluation Group's validation of the World Bank Group's 2018 capital increase package (CIP). It assesses the World Bank Group's progress in implementing the CIP's policy measures and achieving its targets, as well as the quality of management's CIP reporting. The 2018 CIP boosted the Bank Group's financial firepower with a USD 7.5 billion paid-in capital increase for the International Bank for Reconstruction and Development (IBRD), USD 5.5 billion paid-in capital increase for the International Finance Corporation (IFC), USD 52.6 billion callable capital increase for IBRD, and internal savings measures. The CIP also included a policy package that committed Bank Group management to policy actions linked to the Bank Group's 2016 Forward Look strategy. The CIP committed to reporting annually on its implementation and an independent assessment after five years. This report fulfills the commitment to an independent assessment. This validation builds on management's own reporting and other complementary evidence to assess the World Bank Group's progress in implementing the CIP's policy measures and achieving its targets. The report also assesses the quality of management's CIP reporting. The report points to lessons on developing, implementing, and reporting corporate initiatives and commitments, such as the importance of having clear strategies or action plans, explicit buy-in from senior management, and accurate reporting with meaningful indicators and realistic targets
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  • 14
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: IEG Independent Evaluations and Annual Reviews
    Schlagwort(e): Conflict ; Fragility ; GBV ; Gender ; Gender and Health ; Gender and Law ; Gender and Poverty ; Gender and Social Policy ; Gender and Violence ; Sexual and Reproductive Health ; Social Services
    Kurzfassung: Conflict and fragility increase the exposure of women and girls to gender-based violence (GBV) and make it more difficult for them to access social services, including sexual and reproductive health services. Fragility, conflict, and violence (FCV) also exacerbate their vulnerability to poverty and increase their unpaid work burden from their caregiving role. The increase of situations of fragility and conflict in recent years has called the World Bank Group to step up its engagement in these contexts and to adapt its approach to address gender inequalities in FCV countries. The Bank Group recognizes in many corporate and strategic documents, such as the 2020-2025 FCV strategy, that for Bank Group support to produce meaningful and lasting results toward greater gender equality in FCV countries, it needs to have five specific elements. These elements include relevance, depth, sustainability, scale, and inclusive ownership. The evaluation uses these elements to assess the Bank Group's country support for women's and girls' economic empowerment (WGEE) and GBV prevention and response. The evaluation analyzes in depth the experiences of six countries (Burkina Faso, Chad, the Democratic Republic of Congo, Lebanon, the Solomon Islands, and the Republic of Yemen) where the World Bank and the International Finance Corporation (IFC) provided support to advance WGEE and address GBV during the past 10 years. The report draws on a combination of in-depth desk review of documents, more than 200 interviews of World Bank and IFC staff, government partners, and national and international stakeholders, and field visits, focus group discussions, and face-to-face interviews inches The evaluation analyzes the factors that enable and constrain meaningful and lasting results in addressing gender inequalities in FCV contexts and offers four recommendations to inform future Bank Group support
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  • 15
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Economic Forecasting ; Economic Growth ; Finance and Financial Sector Development ; Financial Regulation and Supervision ; Financial Sector and Social Assistance ; Macroeconomics and Economic Growth
    Kurzfassung: The Results and Performance of the World Bank Group (RAP) report 2022 presents an annual review of evidence from IEG evaluations and validation work on the development effectiveness of the World Bank Group. This year's RAP will focus on the country level. The Bank Group's outcome orientation agenda emphasizes high-level outcomes, and, by focusing on the country level, the 2022 RAP aligns with that agenda. This focus also responds to the interest of members of the Bank Group's Board of Executive Directors for reporting on country level performance. In this context, the RAP will conduct an in-depth analysis of country level evidence contained in IEG's Country Program Evaluations (CPEs) and Completion and Learning Report Reviews (CLR Reviews) through two types of analyses. First, overall country program performance will be assessed by tracking country program ratings over time. Second, the country program will be used as the entry point to examine the extent to which the Bank Group's support (i.e., project portfolio and Advisory Services and Analytics) contributed to the achievement of the objectives of the Country Partnership Framework (CPF) and the intended development outcome. Furthermore, the extent to which there was a line of sight between the development outcome and high-level outcomes will also be examined
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  • 16
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Adaptation to Climate Change ; Climate Change ; Conflict ; Conflict and Development ; Covid-19 ; Environment ; Fiscal Sustainability ; Gender ; Gender and Governance ; Governance ; Poverty
    Kurzfassung: This Country Program Evaluation (CPE) assesses the World Bank Group's development effectiveness in Chad over the past decade within a context of high fragility and extreme poverty. The report covers the implementation of the Interim Strategy Note (2010-12) and the Country Partnership Framework (16-20). This CPE draws lessons to inform the design and implementation of the next partnership strategy with Chad. IEG finds that World Bank Group's support to Chad was aligned with government priorities and World Bank diagnostics. Bank Group support helped advance several human development objectives. It especially increased access to health services, primary and secondary education, and social protection in targeted areas as well as gender equality. Notwithstanding the challenges inherent in working in a fragile and conflict-affected situation, the performance of the Bank Group portfolio in Chad was weak. Timely budget support helped stave off an imminent fiscal crisis but did not achieve sustained reform. Few results were achieved in agriculture, infrastructure, and public resource management. Overall, performance was undermined by procurement delays, high turnover of government counterparts, and a lack of continuity in World Bank staff working on Chad. The following three lessons are offered for consideration. First, timely and targeted analytical work is necessary to inform priority setting, policy dialogue, and the design of reforms. Given the prevalence of capacity and absorptive constraints, it is essential to strategically prioritize analytical work to help identify and understand the most binding constraints to development gains and inform efforts to address them. Second, procurement challenges warrant greater attention to address the underlying political and bureaucratic obstacles, which will require a higher-level dialogue with the government. Lastly, although working in Chad is challenging, it is critical to strengthen incentives to attract and retain talent. This is needed to improve continuity of engagement with country authorities and compensate for weak client capacity, including the high turnover of government officials
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  • 17
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Capital Flows ; Developing Countries ; Private Sector ; Private Sector Development ; Private Sector Economics
    Kurzfassung: In December 2016, the International Finance Corporation (IFC) introduced its latest strategy, IFC 3.0, which aimed to enhance IFC's development impact by creating "new and stronger markets for private sector solutions" (IFC 2019) and "mobilizing private capital at significant scale" (IFC 2021) where it is needed the most. To achieve IFC 3.0's aims of market creation and private capital mobilization at scale, IFC recognized it would need new tools and analytical capabilities to: (i) Develop a deeper understanding of the constraints limiting private sector solutions and opportunities in each country's economy, including in key enabling and productive sectors; and (ii) Allow for a more strategic selection, sequencing, and implementation of its activities and stronger coordination across the World Bank Group. At the country level, IFC 3.0's tools included a new diagnostic instrument, the Country Private Sector Diagnostic (CPSD), and a new strategy instrument, the IFC Country Strategy. The objective of the evaluation is to assess whether IFC Country Strategies and CPSDs have enhanced IFC's ability to create markets and mobilize capital at scale and have informed Bank Group collaboration on private sector development. The evaluation will focus on IFC Country Strategies and CPSDs completed since their inception in fiscal year (FY)18. The evaluation will cover all 50 IFC Country Strategies and the 31 CPSDs completed between FY18 and December 31, 2021
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  • 18
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Climate Change ; Equity ; Finance and Development ; Finance and Financial Sector Development ; Gender ; Gender Monitoring and Evaluation ; Governance ; Health Monitoring and Evaluation ; Health, Nutrition and Population ; Human Capital ; Mineral Wealth ; Natural Disasters ; Natural Resources ; Poverty Impact Evaluation ; Poverty Reduction
    Kurzfassung: This Country Program Evaluation (CPE) will assess the World Bank Group's engagement in Papua New Guinea between FY08 and FY22. The Papua New Guinea has an abundant resource endowment of oil and mineral wealth, but this wealth has not translated into significant welfare gains for most citizens. Papua New Guinea's fragmented geography and frequent exposure to disasters caused by natural hazards present significant challenges for delivering services to citizens. The evaluation is designed to derive lessons from Bank Group engagement in Papua New Guinea to inform the next Country Partnership Framework (CPF). The CPE will also provide lessons on the implementation of the International Development Association special themes of climate change, gender, and fragility, conflict, and violence and of the cross-cutting issues of debt sustainability and governance and institutions. Lessons may also be of relevance to other resource-rich countries
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  • 19
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Covid-19 ; Finance and Financial Sector Development ; Low-Income Countries
    Kurzfassung: Interest is high on the World Bank's role in and use of the Low-Income Country Debt Sustainability Framework (LIC-DSF) in light of the sharp rise in debt stress among low-income countries and a changing global risk landscape in the years leading up to and resulting from the coronavirus pandemic (COVID-19). Since 2015, the number of IDA-eligible countries at high risk of or in debt distress has more than doubled. As the key instrument to assess the debt sustainability of IDA eligible countries, the LIC-DSF is intended to guide the World Bank's advice and support to these countries. This evaluation seeks to assess how the World Bank contributes to the LIC-DSF, how it uses LIC-DSF output in various corporate and country-level decisions, and how it can better leverage the LIC-DSF to address debt vulnerabilities in LICs. In doing so, it will seek to identify opportunities for the World Bank to strengthen its role in the preparation and use of the LIC-DSF in a changing global context and to highlight potentially important questions that may need to be addressed in the upcoming joint review, including the extent to which the LIC-DSF meets IDA's needs in serving its clients. Recommendations from this evaluation will focus on aspects of the LIC-DSF that are within the World Bank's ability to change or influence
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  • 20
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Conflict and Development ; Finance and Financial Sector Development ; Financial Structures ; Findings ; Insurance and Risk Mitigation ; Macroeconomics and Economic Growth ; Multilateral Investment Guarantee Agency
    Kurzfassung: The Multilateral Investment Guarantee Agency (MIGA) introduced its Non-Honoring (NH) products - the Non-Honoring of Sovereign and Sub-Sovereign Financial Obligations and the Non-Honoring of Financial Obligations by a State-Owned Enterprise - in 2009. The objective of these products was to crowd-in private insurance capacity to support investments in International Development Association and Fragile and Conflict-Affected Situation countries, and to encourage state-owned enterprises to adopt good corporate governance, environmental and social sustainability practices. These products were expected to benefit guaranteed lenders through lower cost of financing and public sector borrowers through increased and more diversified funding sources. Since their introduction, the NH products have gained a substantial share of MIGA's overall business. This report provides the first independent evaluation of MIGA's experience with its NH products and aims to offer feedback and lessons to inform future strategies. The report reviewed all 34 NH projects implemented by MIGA between 2009 and 2019 to assess the extent to which they met their objectives and contributed to enhancing MIGA's development effectiveness and additionality. The report invites MIGA to address questions related to the suitability of these products for IDA and FCS countries and on the methodology for evaluating their development impact
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  • 21
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Environment ; Finance and Development ; Finance and Financial Sector Development ; Hazard Risk Management ; Insurance and Risk Mitigation ; Natural Disasters ; Urban Development ; Vulnerable Groups
    Kurzfassung: Disasters caused by natural hazards are increasingly threatening the lives and livelihoods of the world's poor and disaster-vulnerable populations. Climate change is further exacerbating the negative impacts of disasters caused by natural hazards. Investing in disaster risk reduction (DRR) has strong economic and social benefits and is essential for achieving climate change adaptation. IEG's evaluation shows that the World Bank is successfully supporting clients to increasingly take up DRR actions through strategic and comprehensive country engagement. The World Bank has developed an extensive portfolio of DRR activities, tripling its support over FY10-20. It focuses its DRR work on countries with the most serious natural hazards, uses synergistic pillars of DRR engagement, and increasingly mainstreams DRR into sector operations. Support for DRR in IDA, small island developing states, and IDA-FCV countries has been comprehensive. The Bank has also shifted from post-disaster response toward pre-disaster risk reduction. The Bank has shown that it is able to overcome political and financial constraints to DRR client uptake by engaging the right decision makers using rigorous evidence and by building on disaster reconstruction efforts. Analytical work that quantified risks, assessed costs and benefits and communicates impacts has highly influenced DRR uptake. However, there are gaps in coverage for some regions, sectors, and hazards that require attention. There are DRR coverage gaps in Europe and Central Asia and the Middle East and North Africa for all serious hazards. Also, while the World Bank is conducting analytical work on the needs of disaster vulnerable groups, there has been slow progress on incorporating their needs into operations. There are also missed opportunities to use conflict-sensitive approaches to mitigate conflict risks and pursue peace-building. Also, the Bank's frequent inability to demonstrate the effects of its DRR activities on reduced exposure and vulnerability has consequences on its ability to make a development case for risk reduction. Most DRR operations are not providing sufficient information to establish the level of DRR being achieved, inhibiting an understanding of how DRR contributes to development impacts, such as reduced economic loss and mortality. IEG offers the World Bank four recommendations to improve their performance on disaster risk reduction: (i) Incorporate DRR activities in regions and sectors and for hazards that exhibit significant coverage gaps. (ii) Identify and measure the effects of DRR activities on exposure and vulnerability to strengthen the development case for clients facing serious disaster risks. (iii) Integrate the needs of populations disproportionately vulnerable to disasters caused by natural hazards into DRR project targeting and design, implementation, and results reporting. (iv) In countries affected by serious natural hazards and fragility and conflict risks, identify and assess the ways in which hazards and conflict interrelate and use this to inform country engagement and project design
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  • 22
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): COVID-19 ; Economic Assistance ; Economic Forecasting ; Economic Growth ; Economic Insecurity ; Foreign AID ; Human Capital ; Macroeconomics and Economic Growth ; Poverty
    Kurzfassung: The Country Program Evaluation (CPE) for Tanzania assesses the World Bank Group's effectiveness and relevance in its work to help Tanzania address its key development challenges. The CPE will encompass two Bank Group strategy periods covering fiscal years (FY)12-16 and FY18-22. The evaluation aims to inform the next Bank Group Country Partnership Framework for Tanzania
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  • 23
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Clean Energy ; Employment and Unemployment ; Finance and Development ; Finance and Financial Sector Development ; Gender ; Gender Monitoring and Evaluation ; Social Protections and Labor
    Kurzfassung: This Country Program Evaluation (CPE) assesses the development effectiveness of the World Bank Group's engagement with Bangladesh during the past decade (fiscal year [FY]11-20) and provides lessons to inform the next Bank Group supported strategy with Bangladesh and to countries facing similar challenges. The Bank Group made important contributions over the past decade to help Bangladesh address several of its development challenges. Most notable include increasing power generation capacity, improving access to clean energy, all season roads, primary and secondary education, reducing child and maternal mortality and improving financial inclusion. However, achievements fell short in several areas, including insufficient investment in data and measurement particularly on learning outcomes and limited progress on regional connectivity. In other areas, domestic vested interests prevailed resulting in little progress in improving the business environment, natural resource management, banking reform and tariff reform. Bank Group support adapted in response to changing circumstances following the Padma Bridge cancellation by reallocating resources to sectors in which the Bank Group had more traction and a long-standing history of effective engagement. However, rising fiscal vulnerabilities received insufficient attention. Despite a deteriorating trend in institutional quality and economic management and declining core IDA allocation, the Bank Group significantly increased financing to Bangladesh, including through IDA's Scale Up Facility. Key lessons include: (i) Rebalancing the portfolio in the face of a difficult political economy helped the Bank Group remain relevant in Bangladesh; (ii) Where reform is deemed critical to sustain development progress but government commitment is weak or absent, continued targeted analysis of key development constraints can help prepare the ground for future action when a window of opportunity presents itself; (iii) Measuring improvements in the quality of education requires deliberate and ongoing investment in data collection; (iv) Increasing overall IDA financing in the context of deteriorating CPIA rating raises a question about the significance that IDA assigns to measures of institutional quality and governance; (v) Given underlying concerns with data quality and coverage, the World Bank might have been more qualified in its public statements about the quality of the macroeconomic framework; and (vi) Financial Sector Assessment Program (FSAP) arrangements between the World Bank and the IMF constrain the ability of the World Bank to provide comprehensive and timely assessments of financial sector vulnerabilities in nonsystematically important economies
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  • 24
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Covid-19 ; Education ; Education Indicators and Statistics ; Low-Income Countries ; Social Development
    Kurzfassung: The achievement of learning outcomes has been a long-standing challenge for education systems across the developing world and has significant consequences for economic development. To realize the development aims of education investments, students need to learn, but too many have not, especially in low-income countries. The World Bank has sought to address this learning crisis for more than a decade through the pursuit of quality education that enhances learning outcomes. The Independent Evaluation Group's (IEG) proposed evaluation will assess the extent to which the World Bank's Education Global Practice (GP) and its predecessor, the Education sector unit, have supported efforts to improve learning outcomes over the past decade (fiscal years [FY]12-22). Based on that experience, the evaluation will assess the effectiveness, relevance, and adequacy of World Bank support to address the learning crisis. It will identify lessons and recommendations to inform the next education sector strategy and further development of the World Bank's approach to this persistent development challenge and the exacerbation of learning deficits during the coronavirus (COVID-19) pandemic
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  • 25
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Education ; Education Finance
    Kurzfassung: In March 2020, President Malpass announced a freeze on IFC's direct investments and advisory services support to private for-profit K-12 schools and requested IEG "undertake an evaluation of IFC investments in K-12 private education provision, including impacts on educational outcomes, poverty, and inequality." This evaluation follows this request and is designed to help the World Bank Group's Board of Executive Directors and IFC's management consider the circumstances that favor K-12 private education. The evaluation assesses IFC's investments in K-12 private or nonstate schools during the fiscal years 2001 to 2020 in terms of access and equity of access, education quality, relevance, and financial sustainability. It focuses on IFC investment instruments and considers IFC advisory services only as part of the Risk Sharing Facility (RSF), which integrates advisory services with an investment component. Evaluation findings support a single conclusion: resumption of IFC investments in K-12 private schools is not advisable without making substantial changes to IFC's approach. In their response to the evaluation, IFC noted their agreement with IEG's findings and announced that IFC will not resume investments, which it halted in 2017, in fee-charging K-12 private schools. The evaluation includes lessons stemming from IFC's 20-year experience that are relevant for future support for private investments in private K-12 education. It analyses the complexities of the financial viability of these investments and constraints on their impact on access to quality education for underserved groups
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  • 26
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Climate Change ; Economic Forecasting ; Economic Growth ; Finance and Financial Sector Development ; Financial Intermediation ; Financial Sector and Social Assistance ; Macroeconomics and Economic Growth ; Middle-Income Countries
    Kurzfassung: Accounting for almost half of global gross domestic product and 70 percent of the world's population, middle-income countries (MICs) face multiple development challenges limiting achievement of the Sustainable Development Goals (SDGs), including poverty and inclusion, climate change, financial access, and economic diversification and market development. The International Finance Corporation's (IFC) portfolio is focused heavily on MICs. Additionality is the unique support that IFC brings to a private client or client country that is not typically offered by commercial sources of finance (IFC 2019). This evaluation assesses the unique support and value addition (additionality) that the International Finance Corporation (IFC) provides to middle-income countries (MICs). It will cover IFC's support of MICs through investment and advisory projects, and through its platforms and partnerships. The primary audience is the World Bank Group Board and IFC management and staff, however some findings of the evaluation will be relevant to a broader audience including multilateral and bilateral financing private sector activities, investors, and government officials and practitioners in client countries
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  • 27
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Health Care Services Industry ; Health Service Management and Delivery ; Industry ; Inequality ; Poverty Reduction
    Kurzfassung: IEG's meta-evaluation serves as an input for the upcoming independent external review of its evaluations. The report focuses on aspects of credibility related to the rationale, focus, use of innovative methods, and various research design attributes as formulated in evaluation reports and their respective approach papers. Drawing on a set of 28 evaluations published from fiscal year 2015 to 2019, the meta-evaluation offers six major conclusions and suggestions based on a systematic review of evaluation scope, reliability, validity (including construct, internal, external, and data analysis validity), consistency, and the integration of innovative methods
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  • 28
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Early Child and Children's Health ; Economic Growth ; Education ; Environment ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Natural Disasters ; Primary Education ; Water Supply and Sanitation
    Kurzfassung: The annual report looks back at the past fiscal year and explores how IEG's reports increasingly inform policy and decision making
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  • 29
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Economic Adjustment and Lending ; Economic Growth ; Fiscal Adjustment ; Gender ; Macroeconomics and Economic Growth ; Rural Development ; Rural Development Strategy and Policy
    Kurzfassung: This Country Program Evaluation assesses the development effectiveness of the Bank Group's engagement in Madagascar between fiscal years 2007 and 2021 and surfaces lessons to inform the design and implementation of the next Bank Group-supported partnership strategy with Madagascar. The evaluation reviews the evolution of the Bank Group's engagement strategy and its implementation over and lessons from experience. It contains a more in depth assessment of Bank Group support in two areas that represent core development challenges: (i) elite capture and (ii) development of rural areas. Bank Group support was increasingly relevant to Madagascar's core development constraints and contributed to significant progress in several areas. World Bank support contributed to modernizing the country's tax and customs revenue administrations, improving revenue collection, and generating local revenues, as well as to improved subnational public financial management and decentralized management of natural resources and land certificates. In terms of rural development, Bank Group support contributed to short-term increases in agricultural production and greater food security, the development of value chains, and the government's increased ability to mitigate the impacts of shocks on Madagascar's most vulnerable populations to preserve critical human capital. Overall progress was hampered by limited success in designing interventions to avoid misuse by a few high-status individuals. In rural areas, overall progress in increasing small farmers productivity fell short because the adoption of technology to increase agricultural productivity did not adequately target smallholder production systems and did not provide sufficient incentives for farmers in the forest frontier to change their land use practices
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  • 30
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: The World Bank Group's Gender Strategy (fiscal year [2016-23) presents gender equality as integral to smart development policy and posits that successful implementation of the strategy will help achieve the Bank Group's twin goals and the Sustainable Development Goals. The strategy focuses on four objectives: human endowments, jobs, asset control and ownership, and voice and agency. To implement the strategy, the World Bank and International Finance Corporation (IFC) established a new methodology and targets for measuring progress via gender tags for World Bank operations and gender flags for IFC advisory and investment services. At the midpoint in the eight-year strategic cycle, this review provides a rapid assessment of the implementation of the strategy in the World Bank and IFC. The purpose of the review is to provide evidence and reveal opportunities to maximize organizational efforts over the final four years of implementation. It reflects on what is working well and less well to support continuous monitoring and learning in the World Bank and IFC in terms of strategy implementation. The review identified the connections and coordination among four essential institutional elements for an enhanced country-driven approach-knowledge management, staff designated to support work on gender, the IFC Gender Business Group and World Bank Gender Group, and monitoring and evaluation-and identifies four opportunities to enhance implementation
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  • 31
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: Cities will be home to 2 billion new residents by 2045, and the pressure to develop land in and around cities is growing. This will pose a great challenge to lower-income cities since they tend to grow through slums and other informal settlements. Slum residents have inadequate and inequitable access to public services and economic opportunities, and on account of the living conditions in these settlements, they are also more vulnerable to diseases, especially highly communicable ones, such as COVID-19. In 2014, an estimated 880 million urban residents lived in slum conditions, compared with 792 million in 2000 (UN 2019). This number is likely to keep growing unless urban spatial expansion is planned and managed well. To achieve the Sustainable Development Goals, development institutions will need to support clients in managing urban spatial growth. An integrated approach towards land administration, land use planning, and land development - three major determinants of urban spatial growth - will be key. This evaluation offers IEG's first systematic assessment of the World Bank's support to the management of urban spatial growth. It answers the question: To what extent has World Bank engagement been relevant and effective towards supporting its clients in managing urban spatial growth through land administration, land-use planning, and land development?
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  • 32
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Conflict and Development ; Development Policy Lending ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Governance ; Insurance and Risk Mitigation ; International Governmental Organizations ; Risk Assessment
    Kurzfassung: Globally, conflict is becoming more complex and intense. The World Bank's contributions to reducing poverty and boosting shared prosperity increasingly rely on its ability to engage effectively in situations fraught by conflict. This report seeks to surface lessons to inform early implementation of the World Bank Group's Strategy for Fragility, Conflict, and Violence 2020-2025 (FCV Strategy). The evaluation analyzes how the World Bank works differently in conflict-affected situations by assessing four key aspects of engagement: (i) the extent to which the World Bank identified and addressed conflict drivers and risks at the strategy and country level, (ii) how these drivers and risks are integrated into operations, the ways in which the World Bank has adapted its engagement by working with clients and partners during situations of political instability, and how the World Bank has contributed to project-level results and higher-level outcomes related to peace and stability
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  • 33
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Covid-19 ; Finance and Financial Sector Development ; Financial Regulation and Supervision ; Fiscal and Monetary Policy ; Governance ; Macroeconomics and Economic Growth ; Private Sector
    Kurzfassung: The Country Program Evaluation (CPE) for the Kyrgyz Republic seeks to assess the World Bank Group's efforts to help the Kyrgyz Republic address its main development challenges. The evaluation will cover fiscal years (FY)14-21 and is timed to inform the next Country Partnership Framework (CPF) between the Kyrgyz Republic and the Bank Group. The evaluation will assess (i) how relevant was the Bank Group's strategy and how it evolved over time, given changes in the country context and lessons from experience; (ii) the extent to which Bank Group support helped the Kyrgyz Republic foster increased private sector-led growth to reduce economic vulnerability; (iii) the extent to which Bank Group support helped improve central government governance and institutional capacity; and (vi) the extent to which Bank Group support improved local governance and the quality of, and access to, local public services
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  • 34
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: More than a decade has passed since the global economic and financial crisis rocked the world. A clear lesson that emerged from it was the importance of identifying and addressing country-specific vulnerabilities ex ante to build resilience when a shock occurs. The 2020 global economic and health crisis caused by COVID-19 serves as a yet another stark reminder of the importance of proactively managing vulnerabilities to shocks. The purpose of this evaluation is to assess World Bank Group support to client countries to build resilience to exogenous shocks through the systematic identification of fiscal and financial sector vulnerabilities and through efforts to support the reduction of these vulnerabilities. Given the importance of protecting the most vulnerable from shocks, this evaluation also looks at the extent to which the Bank Group has helped client countries adapt their social safety nets so that they can be effectively scaled up in a crisis. It aims to inform the design of future Bank Group strategies, operations, diagnostics, and knowledge products that can help reduce country-level fiscal and financial sector vulnerabilities. Its lessons may also help the effort to "build back better" after the COVID-19 pandemic through contributions to increasing resilience by strengthening fiscal and financial buffers and institutions
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  • 35
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: Population aging-resulting from falling fertility rates, declining mortality, and increased longevity-shapes the profile and the needs of a growing number of countries. How effective has the World Bank been in tailoring its support to provide an adequate response to this evolving challenge? This evaluation is the first report from the Independent Evaluation Group to assess the World Bank's contribution to diagnosing client countries' demographic issues related to population aging; understanding the variance in policy needs and context specificities; and providing vision, tools, and resources to respond to challenges in countries at different stages of aging. This evaluation aims to inform the World Bank Group's Board of Executive Directors, management, and staff about the relevance, coherence, and operationalization of World Bank support to aging countries. The World Bank is increasingly called on to offer support to respond to the deep socioeconomic challenges its clients are facing because of population aging. Providing adequate responses to aging countries will become more of a priority as the phenomenon accelerates and becomes more prominent in World Bank client countries
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  • 36
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Debt Management ; Development Economics and Aid Effectiveness ; Finance and Financial Sector Development ; Governance ; International Governmental Organizations ; Macroeconomics and Economic Growth
    Kurzfassung: Much as for the rest of the World Bank Group, the past year has required an unprecedented degree of adaptation and agility from all staff at the Independent Evaluation Group (IEG). For many, fiscal year (FY)21 may feel like a bridge between the old life and the new. At the beginning of FY21, we were just growing accustomed to the full-time remote work required by a worsening global coronavirus (COVID-19) pandemic and realizing that the changes were semipermanent. At IEG, we settled in for the long haul, quickly adjusting our ways of sharing information and methods of evaluation to overcome these new challenges. By the end of the fiscal year, we had built confidence in our abilities to collect data, interview distant stakeholders, and devise new remote mission strategies. Evaluation too acts like a bridge, connecting hindsight and foresight through the objective analysis of past programs to find evidence that supports and informs positive change. Our job as evaluators is to share the insights and lessons derived from this evidence. In FY21, IEG focused on responding agilely to changing circumstances and innovating how we collected data and delivered our findings to those who needed them, when they needed them. We adapted our work program to align with the Bank Group's COVID-19 pandemic response while continuing to build a pipeline of relevant, timely, and robust evaluations focused on long-term development challenges
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  • 37
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Advisory Services ; Development Economics and Aid Effectiveness ; Finance and Financial Sector Development ; Governance ; International Governmental Organizations ; Macroeconomics and Economic Growth
    Kurzfassung: IEG's Results and Performance of the World Bank Group 2021 report, also known as RAP 2021, assesses the World Bank Group's performance by analyzing the achievement of project and program objectives through validated ratings. The World Bank's outcome ratings steadily improved from FY10 onward and increased by an impressive 9 percentage points in FY20. The largest annual increase over the past five years. IFC's development outcome ratings increased for the first time in 10 years in all the industry groups and MIGA's continued to increase, as has been the case over the past decade. The RAP 2021 carries out an in-depth analysis of recent trends, for both the World Bank and the International Finance Corporation, to identify possible drivers behind the increase in project outcome ratings. The report also presents a novel analysis to measure the extent to which the World Bank either repeats project designs or introduces novelty to successor projects. This allowed IEG to detect when teams took informed risk and introduced new elements in projects and assess the effect of this behavior on outcome ratings. The report also analyzes the World Bank's selection of indicators and use of targets to understand how measurement practices affect ratings and performance. Results point to the need to complement project ratings data with associated evidence of outcomes achieved in client countries, which supports the centrality of the outcome orientation agenda
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  • 38
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Financial Sector Assessment Program
    Schlagwort(e): Access To Finance ; Capital Markets and Capital Flows ; E-Finance and E-Security ; Finance and Financial Sector Development ; Financial Regulation and Supervision ; Financial Stability ; Financial Structures ; Macroprudential Policy ; Risk Assessment
    Kurzfassung: A joint IMF and World Bank team conducted virtual missions to Georgia during January-February 2021 and May-June 2021, to update the findings of the Financial Sector Assessment Program (FSAP) conducted in 2014. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities and developmental issues, and provides policy recommendations
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  • 39
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Schlagwort(e): Finance and Financial Sector Development ; Financial Sector and Social Assistance ; Human Capital ; Private Sector ; Private Sector Development ; Private Sector Economics
    Kurzfassung: This Country Program Evaluation aims to assess the World Bank Group's contribution to Morocco's development trajectory over the past decade (fiscal years 2011-21) and is timed to inform the next Country Partnership Framework and future Bank Group engagements in the country. The Country Program Evaluation will use a range of methods to assess how the Bank Group has supported Morocco's efforts to tackle major constraints to achieving its objective of reaching upper-middle-income-country status. The evaluation will focus on three outcome areas: (i) fostering private sector-led growth that absorbs a growing labor force; (ii) strengthening inclusive human capital formation and addressing the obstacles to women and youth labor force participation; and (iii) reducing climate risks and natural resource depletion and addressing their combined effects on the most vulnerable people, especially in rural areas
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  • 40
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: Many of the world's poor people depend on natural resources for their well-being. Four-fifths of the world's poor people live in rural areas, and most rural poor people depend on natural resources for their livelihoods. The renewable natural resources on which poor people depend are increasingly being degraded, posing significant risks to resource-dependent communities. The World Bank has committed to reducing the vulnerability of resource-dependent people. This evaluation assesses how well the World Bank has addressed natural resource degradation to reduce the vulnerabilities of resource-dependent people
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  • 41
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: Disruptive and transformative technologies (DTT) have far-reaching implications for development. Traditional development models are being disrupted by the accelerating pace of technological change and the convergence of multiple technologies, among other things. Recognizing the implications of DTT for development, the World Bank Group adopted a new approach to DTT in 2018, later merging it with its 2019 DTT Mainstreaming approach, and further developing it through the 2020 Mainstreaming Digital and Disruptive Technologies (MDDT) Initiative. The Bank Group's approach encompasses five DTT corporate priorities (country diagnostics, agile regulations, digital connectivity, digital government, and skills and capabilities for the new economy and the role of education), the Bali Fintech Agenda (financial technology and digital entrepreneurship), and sectoral and regional programs (for example, Digital Economy for Africa Moonshot/Accelerate and Middle East and North Africa Tech). The Bank Group aims to help clients harness the opportunities and mitigate the risks of DTT to accelerate progress toward achieving the twin goals of ending extreme poverty and boosting shared prosperity. This evaluation sought to answer the question, How well prepared is the Bank Group to help clients harness the opportunities and mitigate the risks posed by DTT?
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  • 42
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This evaluation assesses the development effectiveness of the World Bank Group's country engagement in Albania over the period Fiscal Years 11-19. The Bank Group made a substantial contribution to many reforms relevant to Albania's development priorities, including Albania's EU accession goals. Bank Group support was effective in improving fiscal management and social protection, strengthening the financial sector, and expanding waste management and irrigation. The program was responsive to opportunities, but it could have been more selective in its engagements. Findings suggested that analytical work should be used more extensively to build consensus and capacity for reforms and new lending should be more selective. Albania had transitioned to a market-oriented middle-income economy by year 2008. However, the economic slowdown in the wake of the global crisis led to a reversal in poverty reduction. The crisis led to several key economic reforms, not all of which have been sustained after the recovery
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  • 43
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: Sound public financial management and public debt management are critical to informing and implementing fiscal policy and to achieving the World Bank Group's twin goals. When support for these two areas is complementary, public finance and debt management (PFDM) ensures that scarce public resources are used efficiently and for their intended purposes, including to finance growth-enabling spending and investment, and that debt burdens are sustainable and managed within acceptable cost and risk parameters. The importance of PFDM has increased significantly in International Development Association (IDA)-eligible countries in the face of rising debt vulnerabilities coupled with the heightened needs and reduced revenue associated with the COVID-19 pandemic. This evaluation provides an assessment of World Bank support to IDA-eligible countries for PFDM between FY08-17
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  • 44
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This report is an annual review of the development effectiveness of the World Bank Group. The report 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. To provide new perspectives on performance, RAP 2020 also analyzes outcomes and discusses ways in which the Bank Group can continue to enhance its outcome orientation. The report highlights that the Bank Group's results measurement systems collect evidence needed for ratings and for process and compliance monitoring with limited evidence on the Bank Group's contributions to higher-level outcomes. Performance trends are positive for almost all Regions and Global Practices in the World Bank. Project ratings in countries affected by fragility, conflict and violence show improvement but continue to lag those in other countries. Positive ratings trends can be linked to continued improvements in quality at entry, strong implementation support and M and E, and broadly conducive economic and institutional conditions in many larger countries before the pandemic. Ratings for MIGA projects continued to increase. IFC project ratings remain depressed overall, but with signs of a modest uptick in the most recent data. Less successful results are often linked to large shocks, internal work quality and issues with preparing for risks and their response when shocks occurred
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  • 45
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    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: The Management Action Record (MAR) is a key element of the World Bank Group's accountability framework. The MAR supports accountability in the follow-up of Independent Evaluation Group (IEG) evaluation recommendations by enabling meaningful tracking, dialogue, and self-assessment of World Bank Group management's implementation of IEG recommendations. This document: (i) describes a reform of the MAR which aims to address shortcomings in the previous MAR system through more focus on the outcomes sought by IEG recommendations. (ii) validates a self-evaluation done by Bank Group management of their implementation of past IEG recommendations, and (iii) served as IEG's input to a discussion by the World Bank Group Boards' Committee on Development Effectiveness. The Committee on Development Effectiveness endorsed the MAR reform at its meeting on September 25, 2020. Following the meeting's decisions, two evaluations for which IEG and management had not reached agreement will continue to be tracked under the MAR
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  • 46
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: For the Independent Evaluation Group (IEG), fiscal year (FY) 20 was a year of both internally and externally driven reform. IEG began the year with a mission to listen to the needs of our clients and stakeholders and improve our methods, relationships, and products to increase the relevance and value of our evaluative work. Thus, when the coronavirus pandemic (COVID-19) struck in the spring of 2020, IEG was already mobilized to respond to the World Bank Group's critical needs with agility, flexibility, and innovation. The regular work program included evaluations of Bank Group convening power, country programs in Albania and the Philippines, irrigation, and education. Though before the pandemic, IEG offered just-in-time learning and on-demand learning engagements, the pandemic pushed us to double our efforts by mining our rich data archives to provide important lessons on Bank Group responses to past public health crises and collect knowledge in an online COVID-19 library. FY21 will continue challenging IEG to respond to rapidly changing pandemic conditions, produce just-in-time insights to help decision-making, and evaluate projects and programs with the same rigor as ever. We are committed to finding new ways of sharing knowledge, learning, and evaluating what works in the World Bank Group
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  • 47
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: The Clean Energy Transition-the pathway for decarbonizing global energy-is essential to foster inclusive and sustainable growth while addressing climate change. Based on EIA forecasts, IEG estimates that annual global financing for RE needs to double, from USD 300 billion to USD 600 billion (2017 USD) to meet the SDGs and allow the Clean Energy Transition. The WBG's RE investment portfolio of USD 22 billion over the evaluation period, 2000-2017, included support across all major RE technologies. Based on 168 evaluated RE projects (101 WB, 60 IFC, 7 MIGA) during FY00-FY17, the WBG overall had a 66% success rate-varying across institutions (71% WB, 51% IFC, 86% MIGA)
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  • 48
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Financial Sector Assessment Program
    Kurzfassung: The BSP's regulatory framework is broadly effective for the size and complexity of the Philippine banking system, but legislative gaps continue to hinder effective supervision of banks. The BSP has a well-resourced, experienced and highly committed staffing complement, but there is an ongoing need to develop and maintain adequate expertise in certain complex areas (e.g. risk modelling). Since the FSAP in 2002, and the assessment update in 2010, the BSP has made significant progress in enhancing the regulatory framework in a number of areas. But significant weaknesses in the legislative framework, arising notably from the bank secrecy laws and the lack of power for the BSP to supervise the parent companies and their affiliates of banking groups, present a material hindrance to effective supervision
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  • 49
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Policy Notes
    Kurzfassung: This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector plays a critical role in mitigating the unprecedented macroeconomic and financial shock caused by the pandemic. Timely, targeted and well-designed regulatory and supervisory actions are essential to maintain the provision of critical financial services, particularly to households and firms that are affected most, while mitigating financial risks, maintaining balance sheet transparency, and preserving longer-term financial policy credibility. In this context, authorities should employ the embedded flexibility of regulatory, supervisory, and accounting frameworks, and encourage judicious loan restructuring while continuing to uphold minimum prudential standards. Standard-setting bodies have issued guidance to support national authorities in their efforts to provide effective, sound, and well-coordinated policy measures
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  • 50
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This evaluation provides lessons that could inform IFC's approach to the deployment of the blended finance instrument. Blended finance is a risk mitigation tool for investments that find it difficult to attract commercial funding. Blended finance refers to the combination of concessional and commercial funding in private sector-led projects. Its rationale is to support projects with potentially high social benefits, but that would not attract funding on strictly commercial terms due to their high risks. This note synthesizes evaluation findings from two sources: (i) IFC's early experience with blended finance as reflected in 14 project evaluations of projects approved over 2010-2014; and (ii) a cluster of five Project Performance Assessment Reports (PPARs) of recent projects, approved over 2012-2016. The emphasis is on findings from the more recent projects
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  • 51
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: State Owned Enterprises (SOEs) play a major role in many developing and emerging economies, where governments use them to achieve economic, social, and political objectives. SOEs deliver and extend access to services, fill gaps in markets, develop key sectors or regions, and provide employment. However, SOEs' mixed institutional mandates and their political importance often pose performance, financial and governance challenges. This is IEG's first systematic assessment of the Bank Group's support for the reform of SOEs, looking at what works and the factors of success. It parallels Bank Group efforts to provide more integrated support to SOE reform in client countries and to empower staff with new tools. The evaluation focused on five major types of SOE reforms in the financial and energy sectors: (i) Corporate governance improvements; (ii) Business and operational reforms; (iii) Measures to strengthen competition and regulation in SOE markets; (iv) Privatization and other ownership reforms (including PPPs); (v) Macro, fiscal, and public financial management (PFM) reforms. The evaluation includes findings about the impact of competition on SEO performance; corruption control and its effect on SEO reform; the success of World Bank Group sequential and complementarity interventions; and about other factors that aid success such us client commitment, collaboration, strong design features, solid results frameworks and monitoring, and early risk identification. Based on the findings and lessons of experience drawn from this evaluation, IEG offers Management two recommendations to enhance the Bank Group's support to SOE reform: (i) The World Bank Group should apply a selectivity framework for SOE reform support that considers country governance conditions, control of corruption, and sector and enterprise-level competition; and (ii) The World Bank Group should apply the MFD and its embedded Cascade approach for SOE reform
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  • 52
    Online-Ressource
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This first-of-its-kind evaluation assesses the scope of the World Bank Group's convening power and how effectively it is deployed. The report finds that the Bank Group's comparative advantages give it strong convening power that it uses on many development issues. In so doing, it meets the demands of shareholders and stays highly relevant as a global actor often making strong and relevant convening contributions. There are many examples of effective Bank Group convening efforts, such as the Scaling up Nutrition initiative, the Consultative Group for International Agricultural Research, and initiatives in the areas of carbon finance, financial inclusion, development data, poverty measurement, river blindness, and several other global heath partnerships. The evaluation finds that the Bank Group is more likely to be effective when the external context is favorable, the Bank Group's internal capacities are strong, when initiatives have clear objectives and are put into effect in country programs, and when engagement is sustained over time. The Bank Group has room to become a more effective convener by more selectively scoping its convening contributions, improving processes to manage convening initiatives over their lifecycle, and by more closely aligning convening initiatives with country programs
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  • 53
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: The World Bank Group's success rests on its ability to help its client countries achieve the development outcomes they desire. This demands a strong outcome orientation at the country-level, defined as the Bank Group's ability to generate feedback on what works, what does not, and why, use this feedback to adapt country programs, and boost contribution to development outcomes. This learning-focused evaluation provides a new vision of how to strengthen the Bank Group's outcome orientation in countries. IEG finds that the model of how the Bank Group aims for outcomes in its client countries is sound. However, the results system does not capture the Bank Group's contribution to country outcomes well, as its reliance on metrics, attribution, and short time-boundedness does not suit the nature of country programs. While country teams practice adaptive management, the country-level results system does not effectively support them in doing so. The report makes concrete proposals on how to rethink the country-level results systems, its tool kit; the accountability principles that underlies the system; and the incentives for staff to learn from experience and prioritize development results
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  • 54
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    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: World Bank emphasizes the importance of social contracts to eliminate poverty and boost shared prosperity. In the 2014 World Bank Group Goals, the World Bank calls for social contracts that prioritize the poor while creating the conditions for equitable growth. This learning-oriented evaluation generates lessons from the World Bank's experience using social contract diagnostics to help countries reshape their social contracts. It does this by:(i) evaluating the quality and value added of social contract diagnostics; (ii) assessing how social contract diagnostics are translated into operations; (iii) identifying the risks and challenges of integrating social contract diagnostics into operations; and (iv) drawing lessons on how to overcome these challenges. At the country level, this evaluation identified 21 Systematic Country Diagnostics (SCDs) that use a social contract framing to diagnose and explain complex development challenges such as entrenched inequalities, poor service delivery, weak institutions, and why decades of policy and institutional reforms promoted by external development actors could not fundamentally alter countries' development paths
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  • 55
    Online-Ressource
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This evaluation examines how the World Bank has supported two types of professional development to improve teacher capacity-preservice and in-service training-and identifies how these drivers of education quality can be better designed, implemented, and scaled up
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  • 56
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This evaluation seeks to inform the World Bank's efforts to support client countries to deliver sustainable irrigation and drainage services and achieve development impacts. The results of this evaluation can help the World Bank improve strategic approaches in an evolving context. Irrigation service delivery is increasingly challenged by multiple factors that are driving demand for agricultural production, water scarcity, and variability in water precipitation. These factors include population growth and urbanization leading to increasing demand for agricultural products, and greater competition for water resources from domestic and industrial users. Untreated urban wastewater released into water bodies affects irrigation water quality. Water availability is increasingly variable because of the effects of climate change
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  • 57
    Online-Ressource
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This evaluation examines the World Bank Group's evolving experience in building resilience in urban areas during the period 2007-17. The focus of this evaluation is the World Bank Group's support to clients in building urban resilience-to cope, recover, adapt and transform-in the face of shocks and chronic stresses
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  • 58
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This report provides a retrospective assessment of the Bank Group's results and performance acrossits project and program portfolio. This is relevant for understanding the stock of achievements to date and the foundations on which the Bank Group is delivering on the Forward Look and its ambitious capital package. The report synthesizes trends in Independent Evaluation Group (IEG) ratings and identifies explanatory factors behind portfolio performance. Each of the three Bank Group institutions assesses results differently because of their differing reporting periods, operating models, and clients. The supplementary file contains four appendixes and the remaining, more specialized topic appendixes of the Results and Performance of the World Bank Group (RAP) report. This report is IEG's annual review of the development effectiveness of the World Bank Group (WBG). The report synthesizes trends in ratings, and identifies explanatory factors behind portfolio performance. This report provides a retrospective assessment of the World Bank Group's results and performance across its project and program portfolio. This is relevant for understanding the stock of achievements to date and the foundations on which the Bank Group is delivering on the Forward Look and its ambitious capital package. The four key appendixes for Results and Performance of the World Bank Group 2018 are included with the main file
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  • 59
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: The International Development Association (IDA) Regional Window Program was developed as a funding mechanism to provide additional financing resources to co-finance projects that help low-income countries achieve their regional integration objectives. The main objective of this synthesis report is to inform policy decisions on the International Development Association (IDA) Regional Window Program in the context of the IDA18 mid-term review and the IDA19 replenishment. The report contains information on (a) the achievements of the program, and (b) key findings and conclusions for the consideration of IDA Deputies. This synthesis is derived primarily from IEG's thematic evaluation, Two to Tango: An IEG Independent Evaluation of World Bank Group Support to Fostering Regional Integration and is complemented by findings from other existing thematic evaluations such as Grow with the flow: World Bank Group support to Trade Facilitation, project-level evaluations and validations, and project performance assessment reports
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  • 60
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Benin remains at moderate risk of external debt distress. The rating is unchanged from the previous November 2018 DSA. All the projected external debt burden indicators remain below their thresholds under the baseline, but the ratio of the present value (PV) of external debt to exports exceeds its threshold in the case of an extreme shock to exports.1 With regard to total public and publicly guaranteed (PPG) debt (external plus domestic), the overall risk of debt distress remains also moderate. The public debt-to-GDP ratio is below its prudent benchmark in the baseline scenario; however, the PV of public debt-to-GDP rises very slightly above its benchmark from 2024 until the end of the projection period under the real GDP shock scenario. Other factors motivating the overall rating include: the past evolution of domestic debt, the relatively high debt service burden, as well as the existence of contingent liabilities. Medium-term fiscal consolidation, sound public investment management, and enhanced debt management capacity are needed to reduce debt vulnerabilities
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  • 61
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Togo's risk of external debt distress continues to be moderate, while the overall risk of debt distress is high-unchanged from the previous Debt Sustainability Analysis (DSA) published in December 2018. While the mechanical results point to a low risk of external debt distress, judgment was applied given vulnerabilities arising from high domestic debt, which could, for example, likely lead to a reprofiling operation that would lead to an increase in external debt. Togo's public debt is on a downward trajectory despite an increase in 2018 compared with 2017. Togo's high public debt is the result of, among other factors, high deficits, contingent liabilities, and accumulated arrears. There is very little space to absorb shocks on total public debt. Baseline projections show that Togo's PV of total PPG debt (external plus domestic)-to-GDP ratio will decline below the new debt distress benchmark of 55 percent starting in 2023, down from 72 percent in 2018-with the bulk constituting domestic debt obligations. This analysis highlights the need for sustained fiscal consolidation, improved debt management, and strong macroeconomic policies to reduce the public debt to prudent levels over the medium term
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  • 62
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Guinea is at moderate risk of external debt distress with some space to absorb shocks. All external debt burden indicators under the baseline scenario lie below their policy-dependent thresholds. Stress tests suggest that debt vulnerabilities will increase if adverse shocks materialize. Under the most extreme stress tests, all solvency and liquidity indicators breach their thresholds for prolonged periods. The overall risk of public debt distress is also assessed to be moderate, with the application of judgement regarding a brief and marginal breach for the PV of total public debt to GDP ratio over 2019-20, reflecting the one-off impact of the recapitalization of the central bank. Guinea's external and public debt position at end-2018 improved compared to the December 2018 DSA, owing to upward revisions of growth estimates in 2016-17, lower-than-anticipated external loan disbursements in 2018, and a stable exchange rate in 2018. A prudent external borrowing strategy aimed at maximizing the concessionally of new debt, limiting non-concessional loans to programmed amounts and strengthening debt management will be key to preserving medium-term debt sustainability
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  • 63
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The Debt Sustainability Analysis (DSA) indicates that Honduras stands at low risk of debt distress both for public external debt and overall debt, which represents an upgrade from the 2018 DSA, where risk of debt distress was assessed as moderate. The DSA was undertaken under the revised debt-sustainability framework for low income countries (LIC DSF), whereby Honduras's debt carrying capacity was upgraded from medium to strong. Changes in the debt-sustainability framework have contributed to the risk of debt distress improvement. A proven record of compliance with the Fiscal Responsibility Law (FRL) and solid macroeconomic conditions also contributed to rate Honduras' risk of debt distress as low. Going forward, adherence to the FRL and institutional reforms to boost inclusive growth and increase the economy's potential are critical to maintain debt sustainability
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  • 64
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    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Mali remains at moderate risk of external debt distress. This rating is unchanged from the previous analysis and consistent with the May 2018 Staff Report (IMF Country Report/18/141). All the projected external debt burden indicators remain below their thresholds under the baseline. However, the ratio of the external debt service to exports exceeds its threshold in the case of an extreme shock to exports under a customized scenario that incorporates 2 percentage points of GDP larger fiscal deficits over 2019 to 2023 than the baseline.1 The baseline scenario assumes improved fiscal policies and achievement of the WAEMU fiscal deficit convergence criteria by 2019. As illustrated in the customized scenario, continued shortfall in domestic revenue mobilization and a deterioration in security conditions will result in a weakened fiscal position and increase the likelihood of debt distress. Mali's main challenge continues to be ensuring macroeconomic stability while protecting social and investment spending and providing for growing security spending and large development needs. To maintain debt at moderate risk rating, it is essential that the authorities continue their efforts to mobilize domestic revenue and implement reforms. Debt management capacity should be strengthened while deepening structural reforms to diversify the exports base
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  • 65
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The Central African Republic (C.A.R.) remains at high risk of external debt distress and overall high risk of debt distress under the revised Debt Sustainability Framework (DSF), unchanged from the 2018 DSA. Solvency indicators (the present values of the external public and publicly guaranteed debt-to-GDP and debt-to-exports ratios) remain below their relevant thresholds in the baseline scenario. However, liquidity indicators (debt service-to-exports and debt service-to-revenue ratios) breach their thresholds in the baseline scenario. Further considerations support the high-risk assessment: the debt indicators are sensitive to standard stress tests; macroeconomic projections are highly uncertain in a volatile security environment; and sizeable contingent liabilities, notably related to the large stock of unaudited potential domestic arrears and the limited financial information available on state-owned enterprises, could materialize. C.A.R.'s debt sustainability is also sensitive to a deterioration of the financing mix. A tailored scenario in which grant financing (of 2 percent of GDP) is replaced by concessional external debt-financing from 2021 onwards would worsen debt sustainability considerably. This shows that the government's investment program requires grant financing, with concessional debt financing to be considered in exceptional cases
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  • 66
    Online-Ressource
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Based on an assessment of external public debt indicators and given the continued buildup of external arrears, the Republic of Congo is classified as "in debt distress". Moreover, despite the recent restructuring agreement with China, public debt remains unsustainable with the net present value of external debt in percent of gross domestic product (GDP) and the external debt service-to-revenue ratios projected to remain above their indicative thresholds in the medium ter
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  • 67
    Online-Ressource
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: According to the updated Low-Income Country Debt Sustainability Framework (LIC DSF), the Democratic Republic of the Congo (DRC)'s debt-carrying capacity was assessed as weak. DRC remains at a moderate risk of external and overall debt distress, with limited space to absorb shocks. The debt coverage has been improved since the last DSA, especially on domestic debt. The external nominal debt ratios are lower than at the time of the 2015 debt sustainability analysis (DSA), however the country shows vulnerability in debt repayment capacity, even under the baseline, due to weak revenue mobilization. Most external debt thresholds are breached under the stress tests, highlighting the country's vulnerability to external shocks. Given limited buffers, prudent borrowing policies are essential by prioritizing concessional loans and strengthening debt management policies
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  • 68
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The Debt Sustainability Analysis (DSA) suggests that Liberia remains at moderate risk of debt distress with limited space to accommodate shocks. The country's debt carrying capacity remains medium, but the rating has declined from 3.1 to 2.77. The authorities have pursued non-concessional loans, but none has been disbursed yet. The government has instead borrowed U.S. dollars from the Central Bank of Liberia (CBL) to close the financing gap in FY2018. Such new borrowing, as well as the legacy U.S. dollar debt from the civil war time, are both incorporated in the new DSA. The State-owned Enterprises (SOE) guaranteed debt is also incorporated. Liberia will edge closer to high risk of debt distress with a small change in the terms of both domestic and external debt or a failure to adjust primary expenditure to the available revenue envelope over the medium-term
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  • 69
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    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Financial Sector Assessment Program
    Kurzfassung: A joint IMF-World Bank mission visited Thailand from November 1 to 16, 2018, and February 6 to 22, 2019, to update the findings of the Financial Sector Assessment Program (FSAP) conducted in 2008. This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities, and provides policy recommendations
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  • 70
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    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: With some 19 million US Dollars (1.6 percent of GDP) in unresolved arrears to official bilateral creditors, Grenada remains in external public debt distress. However, debt appears sustainable reflecting favorable projected debt dynamics from substantial fiscal surpluses that are supported by the Fiscal Responsibility Law (FRL). Total public debt has declined from 108 percent of GDP in 2013 to 63.5 percent of GDP in 2018, with external public debt amounting to 44.5 percent of GDP. This reduction was made possible through fiscal consolidation that has been anchored by the FRL, robust economic growth, and a restructuring of Grenada's public debt. Going forward, continued adherence to the FRL and regularization of arrears will be needed to upgrade the risk rating. Debt should be further reduced and kept at levels needed to withstand the existing vulnerabilities to external shocks and natural disasters
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  • 71
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    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Niger's risk of external and overall public debt distress is rated "moderate" as in the previous DSA. While all thresholds are observed in the baseline, the PV of PPG external debt-to-exports ratio breaches its threshold under stress test scenarios. Debt-carrying capacity continues to be rated "medium." The analysis shows that Niger has limited space to accommodate negative shocks and remains vulnerable to adverse developments of its exports. The DSA is predicated on the government continuing to implement its reform program: fiscal consolidation; structural reforms, including revenue mobilization efforts; contain expenditures and improve spending quality; and timely completion of several large-scale projects, in particular the construction of a pipeline for crude oil exports. Identified weaknesses call for further strengthening of debt management, including by broadening the coverage of public debt, prioritizing concessional borrowing, and strengthening private-sector development to support economic diversification and mitigate the risks associated with commodity price fluctuations
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  • 72
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The risk of external and overall debt distress for Guyana remains moderate, but debt dynamics will improve significantly with the start of oil production in 2020. All external debt indicators remain below the relevant indicative vulnerability thresholds under the baseline scenario, which incorporates the average long-term effects of oil on economic growth, fiscal balance, and current account position. The PV of external debt-to-GDP is projected to decline to 3 percent over the long-term as the need for external borrowing is offset by the accumulation of external assets. Stress tests indicate the susceptibility of Guyana's external public debt in a very extreme shock which combines simultaneous shocks to real GDP growth, primary balance, exports, other flows (current transfers and FDI), and nominal exchange rate depreciation, as well as second order effects arising from interactions among these shocks. The combined effects of these shocks and their second order effects cause temporary but significant breaches in the external debt thresholds, prompting a moderate risk rating. Nonetheless, Guyana has substantial space to absorb these shocks, reflecting the current low level of external debt. Guyana's medium- and long-term outlook is very favorable given the incoming oil production and revenues, which will eventually underpin fiscal surpluses and a reduction in external indebtedness. The authorities reiterated their commitment in preserving fiscal discipline
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  • 73
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Lao P.D.R.'s risks of external and overall debt distress continue to be assessed as high. Under the revised low-income country debt sustainability framework (LIC DSF), its debt carrying capacity has deteriorated and most external and total public debt indicators breach their respective indicative thresholds and benchmarks under the baseline scenarios. External debt indicators are most vulnerable to shocks to exports and depreciation of the currency. Public and external debt indicators are most sensitive to the contingent liabilities shock, while recent natural disasters underscore the need for strengthening buffers. The low level of reserves adds to these vulnerabilities. Factors, such as the large share of electricity export earnings under long-term intergovernmental power purchase agreements, and a strong and growing electricity exports market help mitigate risks, keeping the debt outlook sustainable. Market access is being maintained, around 65 percent of external debt is concessional, and the stock of expenditure arrears is declining. Rebuilding fiscal space, adopting clear guidelines for sovereign debt issuance and guarantees, assessing risks from contingent liabilities, and improving debt management are immediate priorities. Assessing and targeting infrastructure projects with high growth and social returns and financing these with concessional financing would benefit debt sustainability. Strengthening the business environment and governance, would improve the investment outlook, help diversify and make growth more inclusive. Increasing the export base, continuing to maximize the proportion of concessional loans and improving primary deficits would help to keep the debt burden contained
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  • 74
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Senegal has expanded its debt perimeter to include para-public entities and state-owned enterprises (SOEs) and remains at low risk of debt distress despite short-term breaches of two external debt indicators under the most extreme scenarios. The low risk of debt distress is predicated on: (i) ongoing debt liability management, guarantees to address currency risk, access to liquid financial assets and a sound track record of market access; and (ii) adherence to the planned fiscal consolidation path, an acceleration of reforms, and a prudent borrowing strategy. Looking ahead, it will be important to contain fiscal pressures from Treasury operations and address fiscal risks from the broader public sector, including the energy sector
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  • 75
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: This report presents the first official debt sustainability analysis undertaken for Somalia. Based on both external and public debt indicators, Somalia is in debt distress. Total public debt is very high, at dollar 4.8 billion, or 101 percent of GDP at end-2018-nearly all of which is external (100 percent of GDP). The finding that Somalia is in debt distress reflects the high external arrears on debt relative to GDP, which now represent 96 percent of the debt stock. While Somalia has no capacity to access new financing, its debt burden will continue to increase as late interest on arrears continues to accumulate. Under broadly steady state assumptions, Somalia's total public debt is expected to increase to around 128 percent of GDP by 2039. Key risks that affect the outlook include external financing, security, and climate, further highlighting the unsustainability of Somalia's current debt burden. Consequently, in the absence of debt relief, Somalia will remain in debt distress
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  • 76
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The Union of Comoros remains at moderate risk of external debt distress, but its space to absorb shocks is "limited." All debt burden indicators exhibit a continual upward trend, with the PV of debt-to-export approaching its threshold at the end of the assessment horizon (2029) under the baseline scenario. (Thresholds reflect "medium" capacity to carry debt). The reduced space to absorb shocks reflects the taking on of a large new loan, a downward revision of projected exports in line with lower export prices and impacts of Cyclone Kenneth on debt accumulation. Shock scenarios indicate vulnerability to a deterioration of export performance, natural disasters, and exchange rate instability. Comoros' overall risk of debt distress remains moderate, given that domestic debt is expected to remain minimal. The authorities need to strengthen policies to improve macroeconomic performance including by making faster progress on domestic resource mobilization and broadening the export base. The authorities should proceed cautiously on taking up any new debt and may wish to largely avoid new non-concessional debt
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  • 77
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The Federated States of Micronesia (FSM) remains at high risk of debt distress under the Debt Sustainability Framework (DSF). Unless the compact agreement with the United States or parts of it are renewed, the FSM will face a fiscal cliff when the U.S. Compact grants amounting to 20 percent of gross domestic product (GDP) are expected to expire in FY2023. Under the baseline scenario without fiscal adjustments, the fiscal cliff would put debt on an upward trajectory starting in FY2024, with the external debt-to-GDP ratio reaching 30 percent in FY2029 and 57 percent in FY2039, and the public debt-to-GDP ratio reaching 43 percent in FY2029 and 67 percent in FY2039. As a result, the DSF thresholds on the present value of external debt-to-GDP and public debt-to-GDP ratios are projected to be breached within a 20-year horizon. While mechanical application of the DSF based on a 10-year forecast horizon would imply a moderate risk rating, the envisaged breach of the thresholds within a 20-year forecast horizon would warrant an assessment of high risk of external and overall debt distress. Lowering the risk of debt distress would require a fiscal adjustment and steadfast structural reforms to promote private sector growth. The FSM's vulnerability to climate change and weather-related natural disasters constitutes a major risk and calls for strategies to strengthen climate change resilience
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  • 78
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: An updated debt sustainability analysis (DSA) is prepared using the revised Low-income Countries Debt Sustainability Framework (LIC DSF) to assess Zambia's current debt situation. Debt burden indicators have deteriorated considerably since the October 2017 DSA mainly on account of large fiscal deficits as the authorities made use of available financing to boost infrastructure spending, weaker growth and exchange rate, and a worsened external environment (terms of trade and financial conditions). Rising debt service costs (both externally and domestically) and a large pipeline of contracted and to-be-disbursed loans place Zambia's public debt on an unsustainable path under current policies while budget expenditure arrears have risen. Zambia's debt-carrying capacity has also weakened with its FX reserves' import coverage declining from 4.7 months in 2015 to 1.7 months in May 2019. All four external debt burden indicators breach their indicative thresholds, three of them by large margins and throughout the medium-term under the baseline scenario. Total public debt is projected to increase somewhatin the near-term as, under unchanged policies, fiscal deficits remain large, before gradually declining as large debt-financed public projects are completed and forced fiscal adjustment occurs given financing constraints. As a frontier market, Zambia's high gross financing needs (peaking at 19 percent of GDP over the next three years), combined with wide EMBI spreads (1,575 basis points on June 11, 2019) and high domestic borrowing costs, expose it to significant market-financing risks. Despite the challenging fiscal situation, Zambia has remained current on all its debt obligations both domestic and external, and has not experienced a debt distress event. The authorities remain committed to prioritizing debt service payments and have identified resources to continue meeting debt obligations in the near-term. However, staff assess the risk of external and overall public debt distress for Zambia as very high at this juncture, and that a large upfront and sustained fiscal adjustment is essential to begin reducing debt vulnerabilities
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  • 79
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Madagascar is assessed at low risk of external debt distress. This marks a change from moderate risk in the June 2018 DSA, despite a broader definition of external debt, and reflects an upgrade in Madagascar's debt carrying capacity rather than a change in the debt path. Under the baseline, external public and publicly guaranteed (PPG) debt is well below applicable thresholds. Stress tests do not breach the threshold applicable to countries with medium debt-carrying capacity. Total (external plus domestic) PPG debt is below the benchmark under the baseline, but growth shocks drive the present value of the ratio of debt to GDP above the benchmark. Shocks could also introduce liquidity problems, as the debt-service to revenue ratio could exceed 100 percent over the long term. The overall rating, of moderate debt distress, remains consistent with the 2018 DSA. These assessments continue to be supportive of Madagascar's current plans to scale up its borrowing to meet its investment needs, though other factors are also critical
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  • 80
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Financial Sector Assessment Program
    Kurzfassung: The Thai insurance sector is a relatively small but growing part of the country's financial services industry. Insurance sector assets have grown from 10 percent of gross domestic product (GDP) in 2006 to over 22 percent of GDP in 2016, constituting 9 percent of total financial industry assets. Similarly, between 2008 and 2017, gross premiums written have grown at an average annual rate of approximately 16.9 percent, substantially above nominal GDP growth of 9.9 percent during the same period. As a result, the insurance penetration ratio (the ratio of premiums written to GDP) has gradually increased from 3.63 percent in 2008 to 5.39 percent in 2017. This paper provides an assessment of significant regulatory and supervisory practices in the insurance sector of Thailand. The assessment was conducted by Charles Michael Grist, Financial Sector Consultant, the World Bank Group, and A. Thomas Finnell, Financial Sector Consultant to the International Monetary Fund, from February 6 until February 22, 2019. The last review of the Thai insurance sector was conducted as part of an April 2008 Financial Sector Assessment Program Review (FSAP), but this review did not include a detailed assessment against the ICPs issued by the International Association of Insurance Supervisors (IAIS)
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  • 81
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Financial Sector Assessment Program
    Kurzfassung: While Thailand's pension system is typically described as a multipillar pension scheme, its design is highly fragmented and offers adequate coverage only to a small segment of the population, including civil servants and high-income individuals. In its 2018 Article IV report, the IMF highlighted the need for a broader pension reform, including parametric changes and ender inclusivepolicies to improve female labor force participation and attenuate the impact of aging on productivity growth. While these reforms are needed, private pensions can also play a role inimproving retirement income for individuals. As agreed with the Thai authorities, this technical note provides an assessment of the private, funded components of the pension system. A key component assessed is the voluntary provident fund scheme (PVD). The PVD scheme is voluntary and operates as a tax-incentivized scheme, which allows both employers and employees to take advantage of generous tax benefits for savings for retirement. This note also addresses the challenges of the private, funded system and proposes policy recommendations for increasing coverage, improving efficiency, and delivering sustainable retirement income in the payout phase. This note is organized as follows. The next section provides a brief description of the current overall pension system, public and private; Section III provides a diagnostic of the main challenges in the private, funded system; and Section IV provides recommendations for optimizing the design of the private, funded pension system. The focus of the note is to improve the incentive structure of the private, funded pension scheme
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  • 82
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Financial Sector Assessment Program
    Kurzfassung: This report contains the assessments of BAHTNET and TSD based on the PFMI. The assessment was undertaken in the context of the International Monetary Fund and World Bank Financial Sector Assessment Program (FSAP) of Thailand in November 2018. The assessors were Gynedi Srinivas and Dorothee Delort of the World Bank's Payment Systems Development Group. The assessors would like to thank the Thai counterparts for their excellent cooperation and generous hospitality. The objective of the assessment was to identify potential risks related to the FMIs that may affect financial stability. While safe and efficient FMIs contribute to maintaining and promoting financial stability and economic growth, they may also concentrate risk. If not properly managed, FMIs can be sources of financial shocks, such as liquidity dislocations and credit losses, or a major channel through which these shocks are transmitted across domestic and international financial markets. The scope of the assessment includes two main FMIs as well as the authorities in Thailand responsible for regulation, supervision, and oversight of FMIs. BAHTNET and TSD are assessed against all relevant principles of the PFMI. The authorities, the BOT and the SEC, are assessed using the responsibilities for authorities of FMIs
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  • 83
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The joint World Bank/IMF Debt Sustainability Analysis (DSA) has been prepared in the context of the 2019 Article IV Consultation, for the first time based on the revised framework for low-income countries. Results indicate moderate risk of debt distress for both external and overall public debt. However, the debt outlook remains vulnerable, especially to a deceleration in real GDP and exports growth and the depreciation of the KGS. To address these vulnerabilities, the authorities need to remain cautious when contracting and guaranteeing new debt, maintain fiscal discipline, improve public investment management, and continue improving the business environment to maintain the export potential of the country after the main gold mine will close in 2026
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  • 84
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: An updated joint assessment of Rwanda's debt sustainability suggests continued low risk of external debt distress. External debt burden indicators remain below risk thresholds, except for a short and temporary breach of debt service indicators in 2023, when the Eurobond issued in 2013 matures. The main risk to debt sustainability--and macroeconomic stability--remains external shocks. Balancing Rwanda's still-strong public investment needs with maintaining low risks of debt distress, the government is focused on carefully choosing the highest return projects, financed under the most favorable terms. These principles are laid out in Rwanda's Medium-Term Debt Strategy, as are options for help mitigating potential risks. More broadly, the government is focused on creating a larger and more diversified export base while encouraging more private investment, to help secure high and resilient growth over the long term. Forthcoming results of fiscal risk analysis will help identify if there could be additional contingent liabilities that should be included in the next DSA
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  • 85
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: The updated DSA suggests that the external risk of debt distress for Vanuatu remains moderate with limited space to absorb shocks. All external debt indicators remain below the relevant indicative thresholds under the baseline scenario, incorporating the average long-term effects of natural disasters on growth and the fiscal and current account balances. A tailored natural disaster shock, reflecting Vanuatu's vulnerability to disasters, would cause the present value (PV) of public and publicly guaranteed (PPG) external debt-to-GDP ratio to breach the threshold from 2024 onwards. The overall risk of debt distress is assessed as moderate. Although the PV of the public-debt-to-GDP ratio remains below the 55 percent benchmark under the baseline scenario, the public-debt-to-GDP ratio would breach the authorities' debt ceiling of 60 percent by 2025. Moreover, a tailored natural disaster shock would lead to a significant deterioration in debt sustainability, breaching the benchmark. The breach of the authorities' debt ceiling and of the benchmark indicates the need for rebuilding fiscal buffers and enhancing resilience against shocks, including from natural disasters. This requires both stronger revenue mobilization measures, including an introduction of the proposed income taxes, and expenditure rationalization in the medium term. When contracting new public infrastructure projects, the authorities are encouraged to seek grants or concessional loans as much as possible to contain its debt burden
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  • 86
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: An updated DSA indicates that The Gambia is in external debt distress, though its public debt is deemed sustainable on a forward-looking basis. The external debt service-to-exports and -to-revenue ratios breach their indicative thresholds by large margins in the near term and signal major liquidity pressures. However, once these pressures are addressed by the prospective debt relief and the authorities' fiscal consolidation and state-owned enterprise (SOE) reform program, the PV of total public debt would be brought below its threshold over the medium term. On the upside, debt relief discussions with external creditors are progressing and could unlock additional budget support. Downside risks mainly relate to the political environment and fiscal discipline, the unravelling of which could destabilize the economy and worsen the outlook for public debt
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  • 87
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Nepal's risk of external debt distress remains low. Under the revised IMF/World Bank Debt Sustainability Analysis Framework for Low Income Countries (LIC-DSF), all debt and debt service ratios are projected to remain below relevant indicative threshold values. Following a prolonged decline, to 25 percent of GDP in mid-2015, the sum of external and domestic public debt rose to 30 percent of GDP in mid-2018. A further rise in total public debt is projected, to about 35 percent of GDP in the medium term and about 48 percent of GDP in the long term, owing to continuing fiscal and current account deficits, as the authorities implement fiscal federalism and aim to put the economy on a higher growth path. Stress tests suggest that debt burden indicators are vulnerable to growth/exports shocks and natural disasters. This underscores the importance of implementing sound macro-economic policies. Efforts to improve the business climate and competitiveness through high-quality public investment and structural reforms would support growth and expand foreign exchange income streams
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  • 88
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Based on the Joint Bank-Fund Low-Income Country Debt Sustainability Analysis (LIC-DSA), Uzbekistan has a low risk of debt distress, with debt burden indicators below relevant thresholds in the baseline and all stress scenarios. Over the medium term, the public debt-to-GDP ratio is expected to increase moderately, while the total external debt-to-GDP ratio is expected to decline somewhat. In addition, large foreign exchange reserve buffers mitigate potential distress concerns. The debt sustainability analysis suggests that the most significant risks could result from worse-than-expected external flows (mostly lower remittances) and significantly lower exports. The government should carefully manage external borrowing to maintain Uzbekistan's strong external position
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  • 89
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Cabo Verde's risk of external and overall debt distress is rated "high" as in the previous debt sustainability analysis (DSA). The present value (PV) of public and publicly-guaranteed (PPG) external debt-to-GDP ratio breaches its threshold in 2019-2022 under the baseline and protractedly under stress test scenarios. The PV of total public debt-to-GDP ratio is projected to recede below its threshold from 2026 under the baseline and breaches its prescribed limit under stress test scenarios. The debt sustainability assessment is predicated on sustained fiscal consolidation and successful restructuring of state-owned enterprises (SOEs). Prudent borrowing policies and a strengthened debt management strategy are critical to containing debt accumulation. In view of Cabo Verde's vulnerability to exogenous shocks, growth-enhancing structural reforms remain critical to bringing public debt to sustainable levels
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  • 90
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Debt and Creditworthiness Study
    Kurzfassung: Chad's risks of external and overall debt distress are high but have nonetheless declined in the past year. All but one external debt sustainability indicators are below their respective thresholds from 2019 onwards. The debt-to-revenue ratio moderately breaches its threshold under the baseline scenario. Overall, total public debt vulnerabilities are elevated although the present value (PV) of the public debt-to-GDP ratio remains on a downward trajectory. The debt sustainability analysis is based on projected continued fiscal prudence and an increase in non-oil revenues. Following the restructuring in 2018, the new Glencore debt contract has helped contain the impact of low oil prices on debt sustainability, as it allows for lower debt service when oil prices are lower
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  • 91
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Financial Sector Assessment Program
    Kurzfassung: This assessment of the implementation of the BCP by the BOT is part of the FSAP undertaken by the IMF and the World Bank. The assessment was performed October 25 through November 16, 2018 and is based on the regulatory and supervisory framework in place at the time of this visit. Compliance was measured against standards issued by the Basel Committee on Banking Supervision (BCBS) in 2012.1 Since the previous assessment, conducted in 2008, the BCP standards have been revised and reflect the international consensus for minimum standards based on global experience. The view is that supervision should be based on a process involving well-defined requirements, supervisory onsite and offsite determination of compliance with requirements and risk assessments, and a strong program of enforcement and corrective action and sanctions. The 2012 revision placed increased emphasis on corporate governance, on supervisors conducting reviews to determine compliance with regulatory requirements, and on thoroughly understanding the risk profile of banks and the banking system. The assessors appreciated the high quality of cooperation received from the authorities. The mission extends its thanks to the staff of the BOT for its excellent cooperation and hospitality. The BOT provided a comprehensive and detailed self-assessment and granted access to supervisory manuals, onsite inspection reports, monitoring reports, and risk assessments
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  • 92
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: World Bank E-Library Archive
    Serie: Financial Sector Assessment Program
    Kurzfassung: This is an assessment of the Securities and Exchange Commission of Thailand (SEC) and, secondarily, of certain self-regulatory organizations (SRO) that participate in the regulation of the capital markets of Thailand. This assessment was conducted in February, 2019 as part of the Financial Sector Assessment Program (FSAP) conducted jointly by the International Monetary Fund (IMF) and the World Bank. The financial sector of Thailand shows strong growth and is dominated by banks, which are a major force in other components of the financial sector through separately licensed subsidiaries. The financial system's assets are equal to 259 percent of GDP (February 2018), with Thailand's 30 commercial banks (including 15 foreign branches or subsidiaries) holding 46 percent of financial sector assets and eight specialized (state-owned) financial institutions (SFIs) holding 15 percent. The three largest commercial banks account for 46 percent of banking sector assets, lower than that of its peer comparators. Banking sector growth, however, has been stagnant, growing to 156 percent of GDP (2018) from 153 percent (2012). Other segments of the financial sector have experienced higher growth in recent years. The market capitalization of the SET has grown to 104 percent of GDP (up from 67 percent of GDP in 2005, and from 37 percent of GDP in 2008). Insurance sector assets have grown from 10 percent of GDP in 2006 to over 22 percent of GDP in 2016
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  • 93
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: Fragility, conflict and violence (FCV) pose a major challenge for development and for reaching the Bank Group's twin goals. Enabling appropriate private sector activities can be a means to break free of the fragility trap by supporting economic growth, promoting local employment and income earning opportunities, generating government revenues, and delivering goods and services. However, the private sector faces substantial constraints in fragile and conflict-affected situations (FCS). This report takes stock of available evidence regarding the effectiveness of IFC's support in FCS. It aims to inform IFC's strategy in FCS as IFC seeks to scale up its activities in FCS as part of its commitments under the Capital Increase Package, and to provide inputs for the Bank Group's Fragility, Conflict and Violence (FCV) strategy currently being developed
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  • 94
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: In 2016, the World Bank Group stepped up its engagement in situations of conflict-induced forced displacement at the global and country levels and adopted a new approach to its engagement that recognizes displacement as a development challenge that must be addressed to attain the World Bank Group's twin goals. Since fiscal year 2016, the Bank Group's analytical, financial, and operational support has become more aligned with its stated development approach building on lessons from past engagements. This is an important shift
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  • 95
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: From the 15th replenishment of the International Development Association (IDA15)through IDA18, the Crisis Response Window (CRW) evolved from a focus on economicshocks to include two other types of crises-natural disasters and public healthemergencies. The CRW was set up as a pilot under IDA15 to address repercussionsrelated to the global financial crisis on IDA countries. When established as a permanent part of IDA, it was amended to address the impact of natural disasters in addition to economic shocks. CRW coverage was expanded to include public health emergencies when the Ebola crisis erupted in 2014. This IEG synthesis paper takes stock of experience with IDA's CRW, making use of IEG evaluative evidence. The paper synthesizes findings from existing evaluations and information on CRW performance during its pilot stage under IDA15 and subsequent IDA cycles, to inform stakeholders and promote learning. The audience for this paper is primarily internal, including management, Executive Directors (including the Committee on Development Effectiveness), and IDA deputies
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 96
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This Country Program Evaluation (CPE) assesses the development effectiveness of the World Bank Group program in the Philippines between 2009 and 2018. The report provides input to the next Country Partnership Framework for the Philippines and may offer lessons for Bank Group country programs in other lower-middle-income countries facing similar development challenges
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  • 97
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This evaluation reviews how well the World Bank's operating model has enabled knowledge flow and enhanced collaboration to deliver integrated solutions. The evaluation also looks at the incentives and behaviors the model inculcates. Evidence comes from both sides of the matrix.The evaluation finds that certain aspects of the operating model have shown value, especially its enabling of global knowledge flow. This is the effect of setting up GPs that operate more globally than before and GTs that provide useful strategic directions and coherence to cross-cutting priorities. The World Bank is able to provide integrated solutions addressing clients' important development problems because of the leadership of Country Directors supported by Program Leaders.However, evidence from the early years of implementing the model indicates that its structure and processes tend to inhibit collaboration and cause inefficiency, fragmentation, and internal competition. The interface between GPs and Regions has weakened. Some GPs lack coherent and systematic approaches to managing and investing in knowledge. There are concerns with insufficient contestability in the quality assurance process for operations and ASA products. If left unaddressed, these issues pose risks to the World Bank's ability to deliver for clients.IEG acknowledges management's proactive course correction of the operating model. The evaluation finds that this could be enhanced by continuously collecting and reviewing data on organizational effectiveness.These findings have led to six recommendations: (1) Strengthen the approach to knowledge in the GPs and GTs with clear goals, roles, and mechanisms, budgets commensurate with mandates, and metrics for knowledge uptake, quality, and influence; (2) improve budgeting systems to better incentivize knowledge flow and collaboration; (3) better link the GPs and Regions to improve coordination and enhance responsiveness to clients; ( 4) ensure a stronger and more consistent use and role of the Program Leaders as a mechanism for cross-sectoral collaboration, integrated solutions, and complex client dialogue; (5) review the existing quality assurance arrangements to improve the quality of knowledge embedded in advisory and financing services; and (6) ensure there is ongoing monitoring of the operating model and more continuity in change management efforts to enhance the organization's ability to attain its knowledge flow and collaboration goals
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  • 98
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: World Bank Group strategy continues to position SMEs as key vehicles to promote employment, value chain development, economic and social inclusion, and resilience in the face of fragility and conflict. This note synthesizes findings regarding SMEs and SME support from recent IEG evaluations, independent evaluations by other MDBs, and relevant World Bank Group research
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  • 99
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: This evaluation assesses the Bank Group's effectiveness and comparative advantage in fostering regional integration during FY2003-17 and draws lessons that can be used to inform future regional integration operations. Client countries of the World Bank Group have turned to regional integration as one of the pathways toward faster economic development and peace, and to help overcome development challenges. Main findings of the report include: (i) Overall, the Bank Group's efforts to foster regional integration have led to mostly positive development outcomes in the Sub-Saharan Africa Region and in infrastructure sectors. (ii) Though the IDA Regional Window program has also contributed to regional integration (mainly in the Africa Region), the development outcomes of its interventions are not significantly different from similar projects co-financed outside the program
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  • 100
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    Sprache: Englisch
    Seiten: 1 Online-Ressource
    Serie: Independent Evaluation Group Studies
    Kurzfassung: In a year marked by change throughout the institution, the Independent Evaluation Group's commitment to rigorous analysis, innovative methodological approaches, and the sharing of knowledge and lessons remains its foundation. Though topics ranged from forced displacement to creating markets, the evaluations presented similar stories about what is and is not working at the World Bank Group, providing guidance on improving outcomes. Common themes included building resilience, monitoring who benefits, and increasing private sector engagement. A highlight of FY19 was the release of the World Bank Group Evaluation Principles, co-led by the IEG Methods Adviser in collaboration with IFC, MIGA, and the World Bank. The principles act to solidify a Bank Group evaluation approach based on the evaluation framework established in FY18. The document delineates core principles for evaluation and underlying principles for planning, conducting, and using evaluations at the Bank Group. In FY20, IEG will position itself to provide even greater impact by focusing on the development effectiveness questions that most concern the institution and its clients in terms of what is needed to influence country development outcomes and where the Bank Group can do more, differently, or better. IEG has aligned its work program with Bank Group strategic priorities, keeping in mind the Sustainable Development Goals, commitments made in the IBRD and IFC Capital Packages, and the themes of the IDA's last two replenishments (IDA18 and 19)
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