An Evaluation of the World Bank's Trust Fund Portfolio

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CHAPTER 2THE WORLD BANK’S TRUST FUND PORTFOLIO AND POLICYTrust fundcontributionsexceeded IDAcontributions infiscal years2003–08.2.2 While trust fund contributions amounted to far less than IDAcontributions through the mid-1990s, they surpassed total IDAcontributions in the three-year periods of both IDA 13 (fiscal 2003–05)and IDA 14 (fiscal 2006–08), as shown in figure 2.1. (The figure doesnot include the current IDA 15 replenishment period because trustfund contribution totals are only known for the first two years, fiscal2009 and 2010.) 1Figure 2.1 Contributions to Bank-Administered Trust Funds Have SurpassedContributions to IDA25.020.0(US$ billions)15.010.0IDATrust Funds5.00.0IDA 9:FY91-93IDA 10:FY94-96IDA 11:FY97-99IDA 12:FY00-02IDA 13:FY03-05IDA 14:FY06-08Sources: Trust fund accounting system, trust fund database, and World Bank Group annual reports.Note: The IDA 9 total contribution amount, which was reported in Special Drawing Rights (SDRs), has been converted into USdollars by applying the average daily exchange rate over the fiscal 1991–93 period.A Structural OverviewIn fiscal 2010the Bankadministeredabout 1,075active trustfunds entrustedto it by about205 donors.2.3 The World Bank now administers a diverse portfolio of trustfunds entrusted to it by some 205 donors. In fiscal 2010, there weresome 1,075 active main trust funds. That is the number of trust fundsset up with donor contributions and actively disbursing funds insupport of programs and activities. See figure 2.2 for a depiction ofthe overall structure of these many Bank-administered trust funds.2.4 The key components of this structure are the following:The 205 donors comprise governments, multilateral agencies,nongovernmental organizations, foundations, and otherprivate organizations.The 1,075 main trust funds are the number of trust funds setup with donor contributions in support of programs andactivities. These funds involve arrangements with a single12
CHAPTER 2THE WORLD BANK’S TRUST FUND PORTFOLIO AND POLICYdonor (SDTFs) and with several donors (MDTFs). They arecountry-specific, regional, or global in their geographic scopeand they finance programs and activities that may receiveallocations from one or more main trust fund(s). Eachindividual donor contribution is established under anAdministration Agreement with the World Bank.The trust-funded programs that receive funding from one ormore main trust funds finance activities that are managed inthree different ways:oooThe FIFs: there are currently 16 financed by trust funds.These are financial instruments that, for the most part,transfer funds to third-party recipients based oninstructions from a governing entity (separate from theBank) that has responsibility for the use of the funds.Some of these funds may be transferred back to theBank in the form of IBRD/IDA trust funds for Bankimplementation of activities.The IBRD/IDA trust fund programs: these number over180; they are managed (or jointly managed in the caseof partnership programs) by the World Bank. Theydisburse grants that are supervised by the Bank andimplemented by a recipient country, other externalrecipient, or the Bank. Many programs support acombination of recipient- and Bank-executed activities.The IFC trust funds: these are, for the most part, pooledfor multiyear programs of technical assistance.The IBRD/IDA trust fund grants: finance (or cofinance)projects and activities and are primarily of two types: (1)recipient-executed trust fund (RETF) grants are executed inaccordance with a grant agreement between the Bank and therecipient and (2) Bank-executed (BETF) grants largely supportthe Bank’s work program. The BETFs and RETFs togethercomprise the trust funds that support Bank-managed activitiesand are, therefore, referred to in this report as the “IBRD/IDAtrust funds” or the “Bank-managed trust funds.” 213
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 28 and 29: Chairperson’s Summary:Informal Me
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 44 and 45: CHAPTER 2THE WORLD BANK’S TRUST F
Page 56 and 57: CHAPTER 3THE RELEVANCE AND EFFECTIV
Page 80 and 81: CHAPTER 4MANAGEMENT AND ACCOUNTABIL
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CHAPTER 4MANAGEMENT AND ACCOUNTABIL
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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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