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The development paradigm has shifted toward private investment, and the private sector has become central in development strategies. There is much to be learned about how to effectively facilitate and mobilize private sector contributions to development. Effective monitoring and evaluation (M and E) systems are critical for learning to catalyze private sector development. In line with this advance, the International Finance Corporation and the Multilateral Investment Guarantee Agency are developing and refining their M and E efforts. In this Biennial Report on Operations Evaluation, the Independent Evaluation Group takes stock of the evolution of the M and E systems in the two organizations, assessing their adequacy, coverage, and quality, as well as their respective results measurement systems. IEG acknowledges progress by the two institutions. IFC has advanced its systems for gathering, analyzing, and applying project information and has strengthened its coverage of indicators that measure results. Information from M and E has become more prominent in its business decisions. However, the institution’s corporate goals are built on indicators of client reach that cannot be solely attributable to IFC, so there is no credible articulation of IFC’s impact. MIGA has introduced self-evaluation of its projects and started gathering some standard development indicators. As a result, individual learning is taking place in the institution. The report shows the importance of IFC and MIGA managements continuing their efforts to deepen M and E and improve their systems. To gain the full benefit of learning from evidence that M and E brings to light, key areas need improvement. IEG offers recommendations for IFC regarding quality, verification of data, and tracing effects. For MIGA, IEG notes that it needs to adapt and streamline its evaluation approach to fit its business practices.
"This report was prepared by a team led by Daniel Crabtree"--P. xi.
This report addresses IEG s work over the last year, summarizing findings from its evaluations and discussing the trends that are revealed as they relate to the World Bank Group s work. IEG sees that a sharper focus on results and learning from experience are essential
This study evaluates the effectiveness of the World Bank Group's support for health, nutrition, and population (HNP) in developing countries from 1997 to 2008 - totaling more than $17 billion - and distills lessons for greater impact in the future. It finds that the Bank Group now funds a smaller share of global support for HNP than a decade ago, but its support remains substantial and adds considerable value. About two-thirds of the Bank's HNP support has had satisfactory outcomes, often in difficult environments. But in a number of country settings, particularly in Africa, it has not performed well, in part due to high complexity and weak capacity. Only half of HNP support had a pro-poor focus, while support to reduce high fertility and promote family planning has dwindled. The evaluation highlights the contribution of investments in water supply, sanitation, and hygiene to improving the health of the poor and the lessons from support for sector-wide approaches, communicable disease control, and health reform. Moving forward, the World Bank needs to improve the performance of its HNP support and the Bank and IFC need to take actions to ensure their support reaches the poor and contributes greater social benefits, respectively.
This years Independent Evaluation of IFC's Development Results (IEDR) reviews the findings related to 174 IFC-Supported investment operations that reached early operating maturity during 2005-07. It also includes preliminary results for IFC's advisory services, based on a pilot review of 293 operations completed during 2004-06. As a second theme, the report provides a first look by IEG at IFC's additionally (or unique contribution) in its investment and advisory services operations.
This study explores the range of strategies for regulating the social and environmental practices of TNCs in Africa's extractive industries.
This review provides an independent assessment of the World Bank Group's performance in achieving key development objectives, with a special focus on support for environmentally sustainable development consistent with economic growth and poverty reduction.
This book explores how the private sector has long been expected to mobilize finance into much needed infrastructure investment in developing countries. This insightful book is a detailed exploration of the World BankÕs initial promotion of public-private partnerships (PPPs) as a solution, and evaluates their insufficient performance over the past decades.
This series continues to strengthen its focus on results, monitoring, and evaluation. The latest 2006 edition updates the implications of managing for results in World Bank operations, assesses if monitoring and evaluation practices provide staff with information that helps them manage for results, and looks at IEG's own effectiveness. Its recommendations address ways to make monitoring and evaluation more effective and influential tools.
As part of the World Bank Group, IFC's overriding objective is to help reduce poverty and support sustainable development in developing countries. IFC pursues this mission by supporting the private sector to create jobs and simulate markets. This report, which assesses the impact of IFC toward that mission, appears at a time of unprecedented levels of private investment in the emerging markets. The report takes a look back at the development results that the IFC-supported projects have achieved in the last 10 years, the main lessons that have emerged at the project level and the strategic implications for IFC going forward, in the context of rapid organizational growth. Going forward, the report highlights major challenges IFC faces to achieving overall development effectiveness.