An Evaluation of the World Bank's Trust Fund Portfolio

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CHAPTER 2THE WORLD BANK’S TRUST FUND PORTFOLIO AND POLICYFigure 2.6 RETFs Have Increased in Both Volume and Share of RETF, IBRD, andIDA Disbursements100.090.08%80.070.031%(US$ billions)60.050.040.036%5%8%41%RETFIDAIBRD30.061%20.010.00.059% 51%FY02-04 Total FY05-07 Total FY08-10 TotalTrust fundsmanaged solelyor jointly by theBank nowaccount for 8percent of totalBankdisbursementsto recipientsand 23 percentof total Bankbudgetresources.Sources: Trust fund database and World Bank database.2.12 A second measure of the growing use of trust funds is theincrease in BETF disbursements in support of the Bank’s workprogram. As shown in 2.7, the BETF share of total Bank budgetresources (that is, Bank net administrative budget plus BETFs) rosefrom 14 percent in fiscal 2002–04 to 23 percent in fiscal 2008–10. 4,5Figure 2.7 BETFs Now Account for Almost a Quarter of Total Bank BudgetResources7.06.05.018%23%(US$ billions)4.03.02.014%86%82%77%BETFBB Actuals1.00.0FY02-04 Total FY05-07 Total FY08-10 TotalSources: Trust fund database and World Bank database (Bank-wide budget actuals refer to the Bank’s netadministrative budget).18
CHAPTER 2THE WORLD BANK’S TRUST FUND PORTFOLIO AND POLICYTHE MAIN USES OF TRUST FUNDS2.13 Overall, trust funds are used for three purposes: to financeinvestments, technical assistance, and the generation of knowledge,with the bulk of the financing focused on support of country leveldevelopment goals and the remainder aimed at delivering global orregional public goods. See table 2.2 for examples of trust-fundedprograms that support these activities.2.14 FIFs and IBRD/IDA trust funds support these countrydevelopment and global public goods (GPGs) activities in variousways and to differing degrees.Table 2.2 The Scope of Activities Financed by Trust FundsTrust funds areused to financeinvestments,technicalassistance, andglobalknowledgegeneration.Principal activity a Program example Program scopeFinancing investments CountrydevelopmentCountrylevel/provision ofglobal publicgoodsGloballevel/provision ofglobal publicgoodsFinancing technicalassistanceFinancing globalknowledgeThe EFA/FTI Catalytic Fund provides sector budget orproject support to eligible countries for primary educationinvestments based on country education sector plans.The Critical Ecosystem Partnership Fund (CEPF) providesgrants to NGOs, community groups, and private sectorentities to conserve biodiversity in selected vital ecosystems(hotspots) in IBRD/IDA countries that have ratified theConvention on Biological Diversity.The Consultative Group on International AgriculturalResearch (CGIAR) supports the development of new cropvarieties, knowledge, and other products to promoteagricultural sustainability worldwide.Trust fund support for Cities Alliance finances technicalassistance grants at the global, country, and municipallevels to advance slum upgrading and the design of citydevelopment strategies.Trust fund support of the Consultative Group to Assist thePoor (CGAP), a consortium of public and private agencies,finances activities focused on developing and settingstandards, advancing knowledge, training, and capacitybuilding, as well as some provision of advisory services formicrocredit.Operations began: 2003Number of donors: 18FY02–10Disbursements: $734millionOperations began: 2002Number of donors: 2FY02–10Disbursements: $63millionOperations began: 1975Number of donors: 27FY02–10Disbursements: $955millionOperations began: 2000Number of donors: 22FY02–10Disbursements: $84millionOperations began: 1995Number of donors: 38FY02–10Disbursements: $135milliona. Trust-funded programs that finance investments and technical assistance are typically also engaged in global knowledgeactivities such as advocacy and generating and disseminating information.2.15 The FIFs. Four FIFs support improvements in health at thecountry level, such as the GAVI Fund Affiliate (GFA), which providesfunds for approved Global Alliance for Vaccines and Immunization(GAVI) programs to procure needed vaccines and to support recipientcountries. GFA, in turn, is supported by a FIF, the InternationalFinancial Facility for Immunization (IFFIm), which borrows money by19
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
Page 96 and 97: CHAPTER 5THE IMPACT OF TRUST FUNDS
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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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