An Evaluation of the World Bank's Trust Fund Portfolio

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Chairperson’s Summary:Informal Meeting of the Executive BoardExecutive Directors discussed the IEG evaluations on the Bank’s Trust Fund Portfolio andGlobal and Regional Partnership Programs (GRPPs) and management’s responses.Executive Directors noted that the evaluations and responses provide useful input to theBoard and management to improve the Bank’s approach to trust funds and partnershipprograms. They welcomed the largely common ground they saw in both the reports andmanagement’s responses, and they looked forward to further engagements on trust fundsand partnerships. A number of Executive Directors highlighted the need to ensure that trustfund resources and partnership programs are used to support the Post-Crisis Directions andthat this strategic approach should be taken forward through the implementation of theTrust Fund Management Framework and the planned partnership management framework.On trust funds, Executive Directors encouraged management to draw on IndependentEvaluation Group (IEG) findings and ideas such as “umbrella facilities,” noting that itwould be important to retain flexibility while improving the Bank’s oversight and strategicalignment of trust funds. This will require close consultations with all stakeholders.Executive Directors agreed with IEG and management on the need to increase Boardengagement on Financial Intermediary Funds (FIFs), particularly in light of the Bank’sreputational risks. They welcomed management’s agreement with IEG’s recommendation todevelop a strengthened framework for the acceptance and management of FIFs, includingdeveloping relevant criteria and procedures for Board approval of new FIFs. ExecutiveDirectors also encouraged management to follow up on the recommendation to reportregularly to the Board on FIF programs and their implications for the Bank’s own programsand strategies. Some Executive Directors encouraged management to play a central role inanalyzing the comparative advantage of trust funds and other aid vehicles, including in thecontext of High Level Fora on Aid Effectiveness.Several Executive Directors raised concerns about the proliferation of and growingdependency on Bank-Executed Trust Funds for core Bank work and underscored the needto ensure the alignment of these resources with Bank strategies and the Post-CrisisDirections, notably through better integration of these resources in Bank’s budget andplanning processes. They welcomed management’s work to integrate Bank-Executed TrustFunds in work program agreements and to develop an integrated planning system.Executive Directors expressed their expectation that these questions will be adequatelycovered in the upcoming Board update on progress with the Trust Funds Framework. SomeExecutive Directors also called for a “road map” encompassing key strategy, governance,and operational issues.With regard to Global and Regional Partnership Programs (GRPPs), several ExecutiveDirectors expressed support for the findings of IEG’s report and welcomed management’sfurther consultation with donors and beneficiaries. They underscored the importance of astronger selectivity framework for engaging with GRPPs and stronger oversight and riskxxii
CHAIRPERSON’S SUMMARY:INFORMAL MEETING OF THE EXECUTIVE BOARDmanagement. As with trust funds, partnership selectivity should be informed by the PostCrisis Directions and by country demand. Executive Directors also highlighted the need forimproved information systems on GRPPs and better reporting to the Board.Finally, several Executive Directors stressed the importance of adequate monitoring andevaluation systems to strengthen the results of trust funds and partnerships alike.Sri Mulyani Indrawati, Chairpersonxxiii
Page 2 and 3: The World Bank GroupWORKING FOR A W
Page 4 and 5: ©2011 The Independent Evaluation G
Page 6 and 7: CONTENTSAllocation of Trust Fund Re
Page 8 and 9: CONTENTSFigure 5.3 All Networks, Es
Page 10 and 11: AcknowledgmentsThis report was prep
Page 12 and 13: SummaryAs development challenges ex
Page 14 and 15: SUMMARYchannels? In addition, the B
Page 16 and 17: SUMMARYinnovative development finan
Page 18 and 19: SUMMARYdonor funds in line with rec
Page 20 and 21: Management ResponseIntroductionMana
Page 22 and 23: MANAGEMENT RESPONSEplay at the leve
Page 24 and 25: MANAGEMENT RESPONSEattention needs
Page 26 and 27: MANAGEMENT ACTION RECORDMajor Monit
Page 31 and 32: 1. The Role of Trust Funds in theGl
Page 33 and 34: CHAPTER 1THE ROLE OF TRUST FUNDS IN
Page 39: CHAPTER 1THE ROLE OF TRUST FUNDS IN
Page 42 and 43: CHAPTER 2THE WORLD BANK’S TRUST F
Page 56 and 57: CHAPTER 3THE RELEVANCE AND EFFECTIV
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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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6. Findings and Recommendations6.1
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CHAPTER 6FINDINGS AND RECOMMENDATIO
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CHAPTER 6FINDINGS AND RECOMMENDATIO
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the evaluation, namely operational
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Appendix A: Methodology NoteCalcula
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Appendix B: Trust Fund Use in the E
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APPENDIX B: TRUST FUND USE IN THE E
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APPENDIX B: TRUST FUND USE IN THE E
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APPENDIX C: LIST OF INDIVIDUALS CON
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APPENDIX D: CORE TRUST FUND PORTFOL
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Appendix E: Trust-Funded FinancialI
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APPENDIX E: FINANCIAL INTERMEDIARY
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APPENDIX E: FINANCIAL INTERMEDIARY
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Appendix F: Reliance on Donor Funds
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APPENDIX F: RELIANCE ON DONOR FUNDS
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Appendix G: World Bank Operational
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Appendix H: Organizational Aspects
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Appendix I: Trust Fund Support for
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ENDNOTES3. Over fiscal 2002-10, the
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ENDNOTES31. Cited in a 2008 indepen
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SELECTED BIBLIOGRAPHYKharas, H. 200
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SELECTED BIBLIOGRAPHY____. 2010l.
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An Evaluation of the World Bank's Trust Fund Portfolio

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