An Evaluation of the World Bank's Trust Fund Portfolio

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CHAPTER 2THE WORLD BANK’S TRUST FUND PORTFOLIO AND POLICYFigure 2.4 Two of the Top 10 Donors Account for a Quarter of All Trust Fund Contributions, But TheyDirect Their Resources in Starkly Different Ways (FY02–10)8.07.06.0(US$ billions)5.04.03.02.0IFCIBRD/IDAFIFs1.0‐Source: Trust fund database.Note: World Bank trust fund resources are drawn from net income.Table 2.1 Seven of the 16 FIFs Have More Than 10 Donors Providing SupportProgram nameNumber ofdonorsTotal contributions(FY02–10 in US$ billions)Global Fund to Fight AIDS, Tuberculosis, and Malaria 55 15.8Global Environment Facility 37 6.3Heavily Indebted Poor Countries Initiative 26 4.0Consultative Group on International Agricultural Research 27 1.0Least Developed Countries Trust Fund for ClimateChange 20 0.2Onchocerciasis/Tropical Disease Research (APOC) 27 0.1Special Climate Change Fund 13 0.1Source: Trust fund database.The majority ofBank-managedtrustfunds aresingle-donorfunds.2.9 In contrast, there is a much larger number of IBRD/IDA trustfunds, the major share of which take the form of single-donorarrangements (SDTFs) rather than MDTFs, and many of theIBRD/IDA trust-funded programs are supported by a combination ofsingle- and multidonor funds. Indeed, SDTFs have predominatedover fiscal 2002–10 and still account for 65 percent of all trust funds,as shown in figure 2.5a. While this percentage declined modestlyover the period, their share of total IBRD/IDA trust funddisbursements declined more markedly, from 57 percent to 26percent, as shown in figure 2.5b. This is because SDTFs are, onaverage, much smaller than MDTFs. 3 The continuing preponderance16
of SDTFs conflicts with the Bank’s stated intention to avoid thesefunds in favor of MDTFs, and appears to be a major cause of thefragmentation and inefficiencies of the Bank’s total trust fundportfolio.CHAPTER 2THE WORLD BANK’S TRUST FUND PORTFOLIO AND POLICYFigure 2.5 Single-Donor Trust Funds Continue to Predominate in Number of Active Main Trust Funds(FY02–10)a. Average number of active main IBRD/IDA trustfunds(avg number of main TFs)g80070060050065%40088%76%30020035%10024%12%-FY02-04 Avg FY05-07 Avg FY08-10 Avgb. Average disbursements from IBRD/IDA trust funds(US$ billions)g4.03.53.026%2.52.0Single Donor1.535%74%Multidonor Donor1.00.557%65%43%-FY02-04 Avg FY05-07 Avg FY08-10 AvgSource: Trust fund database.Trust Fund Disbursements and How They Are UsedTHE SIZE AND GROWTH OF THE TRUST FUND DISBURSEMENTS2.10 Trust fund disbursements have become a significant feature ofthe World Bank Group’s business, amounting over the period fiscal2002–10 to some $45 billion. In terms of growth, disbursements haveincreased fivefold, from $1.9 billion in fiscal 2002 to $9.5 billion infiscal 2010. FIFs account for half of the fiscal 2002–10 disbursementtotal. Of the other half, IBRD/IDA trust funds executed by recipients(the RETFs) amounted to $15.9 billion and those executed by the Bank(the BETFs) amounted to $3.1 billion.2.11 How substantial is this increased level of trust funddisbursements? One way to indicate the significance is to compare thedisbursements of the RETFs to total IBRD/IDA disbursements. Asshown in figure 2.6, the RETF share rose from 5 percent in fiscal 2002–04 to 8 percent in fiscal 2005–07, and it remained at 8 percent in fiscal2008–10, despite a large jump in IBRD disbursements in response tothe financial crisis. (This, of course, does not take into account thelarge FIF disbursements for activities for which the Bank is notresponsible, so they are not comparable to IBRD/IDA lending.)FIFs, for whichthe Bank istrustee but notthe entityresponsible forthe oversight ofthe use of thefunds, accountfor more thanhalf of the trustfundcontributions.17
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 42 and 43: 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 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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