An Evaluation of the World Bank's Trust Fund Portfolio

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ENDNOTES3. Over fiscal 2002–10, the average annual amount disbursed from active main SDTFs ($1.4 million) was six times smaller thanthe average annual amount disbursed from active main MDTFs ($8.5million).4. As discussed in more detail in chapter 5, while BETFs should not be seen as fully fungible with the Bank’s budget, there is aconsiderable degree of overlap and, therefore, BETF funding is to some extent additional to Bank budget.5. Discrepancies between BETF's share of Bank budget resources noted here and that of new Bank management reports is dueto a recent change in management's calculation of total Bank budget, which was not available in the information provided in thepreparation of this evaluation. According to management's new calculations, BETF's share of Bank budget resources (that isBank gross budget plus BETFs) is 16 percent for fiscal 2008–10.6. See appendix D, table D.2.4, for full breakdown of trust fund uses.7. Support is provided in the form of RETFs for project cofinancing (44 of 47 percent) and project preparation (1 percent) andin the form of BETFs for project appraisal and supervision (2 percent).8. Two recipients, Afghanistan and West Bank and Gaza, account for just under half of the disbursements for stand-alone trustfundedprojects.9. See “Operational Policy 14.40, Trust Funds” (World Bank 2008e). This policy statement replaces the statement of February1997 and applies to all trust fund proposals submitted to CFP on or after July 1, 2008.Chapter 31. In another 10 of the sampled programs, either individual outputs were not accomplished or reported, or no objectives orresults chain were articulated in the first place.2. While there may be additional allocations for emergencies, this aid is typically provided only partly through trust funds, anddonors did not cite this as a source of additional trust-fund financing.3. QAG examination of a random sample of 30 projects funded by RETFs also found strategic relevance to be strong (WorldBank 2008f).4. IEG’s assessment of the World Bank’s involvement in GRPPs (World Bank, forthcoming b).5. Moreover, almost all (36 of 39) sector managers said that trust funds enhance sector work moderately or a lot.6. Notably the Global Fund in Benin has directly targeted grassroots communities without giving support to building capacity inplanning, implementation, monitoring, and other matters important to strengthened decentralization of the national healthsystems (though in recent funding rounds the Global Fund has opened up to government proposals for some health systemstrengthening) (Benin country study).7. Notably an MDTF for South Sudan, which was not reviewed for this evaluation but was widely commented on by donors andhas been reviewed in a special report for Operations Policy and Country Services.8. Measured in terms of total grant amount.9. These findings are consistent with a QAG review of a sample of nonlending technical assistance projects that shows theoverall quality of fully trust-funded nonlending technical assistance projects as being lower than projects that are wholly orpartially Bank-financed. Moreover, the report concludes that a major reason for this difference is less rigorous staff andmanagement attention (World Bank 2010h).10. For example, in a health SWAp in Bangladesh, coordination was considerable but it was limited mainly to donors within asupporting MDTF, leaving other members of the SWAp consortium out of the process (Bangladesh country study).11. This is a particular concern for the Global Fund (which operates through separate Country Coordinating Committees) asnoted in a recent independent evaluation. The problem is also reflected in the finding in QuODA (Birdsall and Kharas 2010) thatrates the “maximizing of efficiency” of the Global Fund lower than that of IDA and some 9 other bilateral and multilateral aidagencies (out of a total of 31 rated).12. This issue is addressed in a large literature on global funds, including Isenman, Wathne, and Baudienville 2010; and it will beaddressed in IEG forthcoming b.13. Includes trust funds with only one donor and those with a single dominant donor.14. See evaluation of the European Commission's aid delivery through development banks and the European Investment Bank(Aide à la Décision Économique 2008).15. See IEG assessment of World Bank involvement in GRPPs (IEG forthcoming b).124
ENDNOTESChapter 41. Not observed by the evaluation, but described in the FY10 portfolio reviews from East Asia Region (“Throughout FY10,many of our teams had to spend enormous time with EC hired contractors on “verification” or “results” missions, [which]added very little value”) (World Bank 2010b) and the Africa Region ( “..(“EC attempt[s] to supervise the work and assess “valuefor money” instead of validating that the funds were used for their intended purposes.”) (World Bank 2010c)2. “Fiduciary” comprises financial management and procurement.3. Indonesia case study.4. For example, country study for Rwanda.5. Some of these were instituted in the wake of a serious case of corruption involving consultant trust funds in 2000.6. World Bank intranet Web site on letters of representation.7. Annex A of the 2009 Global Partnership and Trust Fund Operation Department annual report (World Bank 2009b).8. This would be the responsibility of the Internal Audit Department. As part of its normal risk-based work program, theInternal Audit Vice Presidency, on a periodic basis, audits management’s process for the Bank’s fiduciary management ofsignificant trust funds.9. As reported in the January 2010 Trust Fund Portfolio Review by TQC (2020l).10. Modified Cash Basis Trust Funds: Report on Internal Controls over Financial Reporting, June 30, 2009 (World Bank Group2009).11. Europe and Central Asia Region FY09-–11 Trust Fund Management Plan.12. Rwanda case study.13. Indonesia case study.14. Except FIFs.15. Interview with a senior network manager.16. Bank-Netherlands Partnership Programme Trust Fund Proposal 2009: “The proposal Steering Committee to be establishedat CFPTO level shall be responsible for approving all grants cleared by the Network Vice Presidents. The SC chair shall be theDirector CFPTO who shall make final decisions when members do not reach consensus”(World Bank 2009a)17. Bangladesh case study, Ethiopia case study.18. Latin America and the Caribbean Region FY10 Portfolio Review (World Bank 2010e).19. “…the decision-making framework vetting new proposals does not assess, at the institutional level, the cumulative impacts ofeach new successive trust fund or partnership.” Trust Fund Portfolio Review (2020l).20. Recipient-executed trust funds that cofinance IDA and IBRD operations are prepared and supervised using the sameprocesses applied to the IDA/IBRD operations. All trust funds are subject to the Bank’s financial and procurement rules.21. This evaluation has not reviewed the extent to which these funds for supervision of trust-funded activities are adequate in theaggregate or whether the units conducting supervision receive enough money. This issue is under review by management andreported on in the Trust Fund Portfolio Review.22. Bangladesh case study.23. The TQC 2010 report does not use GRM data, nor does it report on the reports’ compliance and quality. There is automaticmonitoring by the Bank’s business management system that is mostly disregarded by managers (2020l).24. “QAG Synthesis of Past Assessments of Analytical and Advisory Activities” (World Bank 2009e).25. Three interviewees did not directly answer this question.26. China TB, Australia Infrastructure for Growth, Africa Catalytic Growth.27. Cited in East Asia’s recent portfolio review (World Bank 2010b).28. 2010 TQC Portfolio review (World Bank 2010l).29. Cited in IEG’s forthcoming assessment of the World Bank’s involvement in GRPPs (IEG forthcoming b).30. Cited in IEG’s 2008 global program review on the Critical Ecosystem Partnership Fund (IEG 2008a).125
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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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CHAPTER 5THE IMPACT OF TRUST FUNDS
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An Evaluation of the World Bank's Trust Fund Portfolio

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