An Evaluation of the World Bank's Trust Fund Portfolio

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APPENDIX D: CORE TRUST FUND PORTFOLIO STATISTICSTable D.2.6. Ten Recipient Countries/Territories Receive 53 Percent of Total IBRD/IDA Trust Fund Disbursements (US$ millions)FY02–FY10Recipient country/territory FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10FY02–FY10totalpercent oftotalAfghanistan 0 183 221 367 349 454 498 686 456 3,215 16%West Bank and Gaza 36 94 171 236 123 49 217 245 299 1,471 7%Ethiopia 4 8 2 5 14 312 270 301 321 1,239 6%China 53 60 79 99 78 102 269 256 226 1,221 6%Indonesia 79 62 46 39 193 167 151 172 212 1,122 5%Vietnam 40 47 55 127 92 168 120 109 100 859 4%Sudan 0 0 0 2 14 101 123 61 227 528 3%Bangladesh 18 41 45 19 24 51 138 97 58 491 2%Iraq - - 2 25 37 44 68 109 94 378 2%Timor-Leste 42 52 49 44 18 29 18 17 16 287 1%All other recipients 682 661 780 857 931 1,116 1,403 1,571 1,676 9,675 47%Total 954 1,210 1,450 1,820 1,872 2,594 3,275 3,624 3,686 20,485Source: Trust fund database.106
Appendix E: Trust-Funded FinancialIntermediary FundsThe World Bank as trustee provides a variety of financial and operational services to theFinancial Intermediary Funds (FIFs) 1For all FIFs, the Bank provides a set of agreed financial services to a third party, suchas standard trustee services, which usually include management of donor pledges,commitments, and promissory notes, investment management of trust fundliquidity, disbursement to designated recipients, and financial reporting.Under some FIFs, the Bank also provides customized treasury management or otheragreed financial services, such as bond issuance (the International Finance Facilityfor Immunisation, or IFFIm) and other treasury services, hedging intermediation(IFFIm), and monetization of Certified Emissions Reductions (Adaptation Fund).For some FIFs, the Bank transfers funds (received from donors and managed in atrust fund) directly to multiple third party recipients (governments, private sector,private civil society or charitable organizations, or other recipients) based oninstructions from and on behalf of a governing entity that has legal capacity andresponsibility for the use of funds (for example, under the current Global Fund toFight AIDS, Tuberculosis, and Malaria model).For other FIFs, the Bank transfers funds to a partner entity or to multipleimplementing agencies (such as United Nations agencies or MultilateralDevelopment Banks), which then manage and transfer the funds to final recipients.Each implementing agency applies its own policies and procedures in itssupervisory and evaluation role, and each is accountable to the FIF governing bodyfor the use of the funds (for example, the current Global Environment Facilitymodel). Implementing agencies are generally required to report results to the Bankfor incorporation into consolidated reporting.The key features of the 16 active trust-funded FIFS are as followsAdaptation Fund (AF): This is a trust-funded Global Partnership Program established in2008 under the United Nations Framework Convention on Climate Change (UNFCCC) as aprincipal source of adaptation support for developing countries which are party to theKyoto Protocol and a centerpiece of the international agenda on climate change. It isdesigned to finance climate change adaptation projects and programs based on the prioritiesof the eligible developing countries. Its primary financing comes not from traditional officialdevelopment assistance, but from a 2% share of proceeds of the Certified EmissionReductions (CERs) issued by the Clean Development Mechanism (CDM) under the KyotoProtocol. As of January 2010, 2.2 million CERs had been sold, generating approximately $39million. The AF began disbursing began in FY10 and totaled $1 million over the fiscal year.The Bank is Trustee performing two core functions – CER sales and trust fund management– and is an Implementing Agency for AF-financed projects.107
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The World Bank GroupWORKING FOR A W
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©2011 The Independent Evaluation G
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CONTENTSAllocation of Trust Fund Re
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CONTENTSFigure 5.3 All Networks, Es
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AcknowledgmentsThis report was prep
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SummaryAs development challenges ex
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SUMMARYchannels? In addition, the B
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SUMMARYinnovative development finan
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SUMMARYdonor funds in line with rec
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Management ResponseIntroductionMana
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MANAGEMENT RESPONSEplay at the leve
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MANAGEMENT RESPONSEattention needs
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MANAGEMENT ACTION RECORDMajor Monit
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Chairperson’s Summary:Informal Me
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1. The Role of Trust Funds in theGl
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CHAPTER 1THE ROLE OF TRUST FUNDS IN
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CHAPTER 2THE WORLD BANK’S TRUST F
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CHAPTER 3THE RELEVANCE AND EFFECTIV
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CHAPTER 4MANAGEMENT AND ACCOUNTABIL
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Page 109 and 110: 6. Findings and Recommendations6.1
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Page 115 and 116: the evaluation, namely operational
Page 117 and 118: Appendix A: Methodology NoteCalcula
Page 119 and 120: Appendix B: Trust Fund Use in the E
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Page 125 and 126: APPENDIX C: LIST OF INDIVIDUALS CON
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Page 139 and 140: APPENDIX E: FINANCIAL INTERMEDIARY
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Page 143 and 144: Appendix F: Reliance on Donor Funds
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Page 147 and 148: Appendix G: World Bank Operational
Page 149 and 150: Appendix H: Organizational Aspects
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Page 154 and 155: ENDNOTES3. Over fiscal 2002-10, the
Page 156 and 157: ENDNOTES31. Cited in a 2008 indepen
Page 158 and 159: SELECTED BIBLIOGRAPHYKharas, H. 200
Page 160 and 161: SELECTED BIBLIOGRAPHY____. 2010l.
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An Evaluation of the World Bank's Trust Fund Portfolio

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