An Evaluation of the World Bank's Trust Fund Portfolio

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CONTENTSAllocation of Trust Fund Resources ........................................................................................................................ 53Call for Proposals ................................................................................................................................................................ 53Block Grants ........................................................................................................................................................................ 55Country-Specific Trust Funds .............................................................................................................................................. 56Business Processes ................................................................................................................................................ 56Supervision .......................................................................................................................................................................... 58Reporting on Implementation and Completion .................................................................................................................... 59Management Oversight ....................................................................................................................................................... 60Risk Assessment and Management .................................................................................................................................... 62Conflicts of Interest .............................................................................................................................................................. 63Summary ................................................................................................................................................................. 645. The Impact of Trust Funds on the Bank........................................................................................................ 65The Influence of Trust Funds on the Shape of Bank Business .................................................................................... 65Expanded Scope of Bank Activities ........................................................................................................................................ 65Financing of a Parallel Business Model .................................................................................................................................. 66FIFs as a Bank Business Line ......................................................................................................................................... 68The Role of Trust Funds as a Supplement to the Bank’s Budget ........................................................................... 71BETF Use by Bank Units ..................................................................................................................................................... 71BETF Importance for the Bank’s Knowledge Work ............................................................................................................. 73Trust Funds’ Impact on the Bank’s Budget ......................................................................................................................... 75Board Oversight of the Trust Fund Portfolio ............................................................................................................ 75Summary ................................................................................................................................................................. 776. Findings and Recommendations ................................................................................................................... 79Findings ................................................................................................................................................................... 79Recommendations .................................................................................................................................................. 83AppendixesA: Methodology Note ............................................................................................................................................... 87B: Trust Fund Use in the Eight Case Study Countries/Territories ................................................................................. 89C: List of Individuals Consulted ................................................................................................................................ 94D: Core Trust Fund Portfolio Statistics .................................................................................................................... 100E: Trust-Funded Financial Intermediary Funds ......................................................................................................... 107F: Reliance on Donor Funds to Support International Finance Corporation Activity ...................................................... 113G: World Bank Operational Policy on Trust Funds (OP 14.40) ................................................................................... 117H: Organizational Aspects of Trust Funds................................................................................................................ 119I: Trust Fund Support for Global and Regional Partnership Programs ......................................................................... 121Endnotes ............................................................................................................................................................ 123iv
CONTENTSSelected Bibliography ...................................................................................................................................... 127BoxesBox 2.1. Trust Funds since the 1960s .................................................................................................................. 11Box 2.2 Bank-Administered Trust Funds Must Be Aligned with Its Mandate and Strategies ................................ 22Box 2.3 Reforms Have Substantially Improved Controls But Not Integration with Bank Processes ..................... 23Box 3.1 The Indonesia Country Partnership Strategy Lists Trust Funds Along with All Other Resources to beDeployed in Achieving the Strategy’s Goals ............................................................................................ 28Box 3.2 Multiple Financing Sources Support a Large Program in Ethiopia ........................................................... 30Box 3.3 Well-Integrated Trust-Funded Activities Help Scale Up Country Operations ........................................... 31Box 3.4 The Global Fund Meets Disease Targets But Not Health System Capacity Needs ................................. 32Box 3.5 Trust Funds Need Flexibility in Matching Aid Modalities to Country Conditions ...................................... 33Box 3.6 MDTFs: A Limited Share of Total Aid, But an Important Aid Coordination Platform in Post-ConflictSituations ................................................................................................................................................ 34Box 3.7 Bank-Managed Carbon Funds: Innovative But Limited Catalytic Impact ................................................. 35Box 3.8 Trust-Funded Analytical Work Has Underpinned Aid to the West Bank and Gaza .................................. 38Box 3.9 Relevance and Effectiveness of Global and Regional Partnership Programs (GRPPs) .......................... 46Box 3.10 Recipients’ Balance Sheet on Trust Funds ............................................................................................ 47Box 4.1 One Region’s Efforts to Integrate Trust Funds ........................................................................................ 57Box 4.2 Few GRM Reports in Bolivia .................................................................................................................... 60Box 4.3 How VPU Managements Monitor Trust Fund Implementation ................................................................. 61Box 4.4 Poor Information Impairs Accountability .................................................................................................. 62Box 5.1 Has the World Bank Reduced Its Lending for Primary Education in FTI Countries? ............................... 68TablesTable 1.1 Characteristics of Trust Funds and Trust-Funded Activities .................................................................... 3Table 2.1 Seven of the 16 FIFs Have More Than 10 Donors Providing Support .................................................. 16Table 2.2 The Scope of Activities Financed by Trust Funds ................................................................................. 19Table 3.1 The Impact of Trust Fund Structural Features on the Funds’ Deployment of Resources .................... 45Table 5.1 The Bank Plays Various Roles in FIF-Funded Programs...................................................................... 70FiguresFigure 1.1 Trust Funds Amount to about 11 Percent of Total Aid from OECD Member Countries (CY07–08Annual Average) ................................................................................................................................... 2Figure 1.2 Donors Mainly Use Trust Funds to Fill Gaps in the System of Multilateral Aid ...................................... 5Figure 2.1 Contributions to Bank-Administered Trust Funds Have Surpassed Contributions to IDA .................... 12Figure 2.2 The Current Structure of the Bank’s Trust Fund Portfolio (FY09/10) ................................................... 14Figure 2.3 Contributions to FIFs Account for More Than 50 Percent of Trust Fund Contributions (FY02–10) ..... 15Figure 2.4 Two of the Top 10 Donors Account for a Quarter of All Trust Fund Contributions, But They DirectTheir Resources in Starkly Different Ways (FY02–10) ........................................................................ 16Figure 2.5 Single-Donor Trust Funds Continue to Predominate in Number ofActive Main Trust Funds (FY02–10) ................................................................................................... 17Figure 2.6 RETFs Have Increased in Both Volume and Share of RETF, IBRD, and IDA Disbursements ............ 18Figure 2.7 BETFs Now Account for Almost a Quarter of Total Bank Budget Resources ...................................... 18Figure 3.1 One-Third of Sampled Trust Funds Aim to Pilot or Disseminate Innovations ...................................... 40Figure 5.1 Three Sectors Account for 64 Percent of RETF Disbursements (FY08–10 Totals) ............................. 67Figure 5.2 BETFs as a Share of Total Bank Budget Resources Have Grown in Both Network ............................ 72v
Page 2 and 3: The World Bank GroupWORKING FOR A W
Page 4 and 5: ©2011 The Independent Evaluation G
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
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Page 42 and 43: 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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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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