01. Annual Reports & Independent Evaluations

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An Evaluation of World Bank and International Finance Corporation Engagement for Gender Equality over the Past 10 Years: Approach Paper

(World Bank, Washington, DC, 2023-11-14) Independent Evaluation Group

This Approach Paper proposes an independent evaluation of the results achieved by the World Bank and the International Finance Corporation (IFC) in supporting countries (understood as governments, private sector, civil society, and citizens at large) to address gender inequalities and the contribution of the gender strategy for fiscal years (FY)16–23.
Learning and Adapting for Outcomes through the Management Action Record 2023: A World Bank Group Management Report on Implementation of IEG Recommendations

(Washington, DC, 2023-10-30) World Bank

The Management Action Record (MAR) provides Management’s annual self-assessment of World Bank Group (WBG)-wide progress in implementing recommendations from the Independent Evaluation Group's (IEG) major evaluations to deliver outcomes in key priority areas. The MAR is an important vehicle for monitoring the uptake of IEG evaluations; it aims to ensure that recommendations lead to targeted actions that help shape the WBG’s strategic directions, improve its development effectiveness, and ultimately help countries achieve their development goals. This year’s MAR report provides updates on 59 recommendations from 22 IEG evaluations issued between FY19 and FY22, covering a diverse range of areas of strategic importance to the WBG. Building on progress achieved over the previous reporting cycles since the 2020 MAR Reform, this year’s MAR process featured enhanced candor in the self-assessment, a broader evidence base, and a widening of the teams involved in providing feedback to IEG for richer reporting. During this year’s MAR update cycle, Management continued its more intensive engagement approach, with more touchpoints, to enhance the MAR’s learning focus and build understanding between evaluators and technical staff. This has included the facilitation of dozens of evaluation-specific working meetings with IEG, involving over 130 participants from across the WBG, with representation from all relevant WB Global Practices, IFC, and MIGA regional and industry teams.
Evaluation Insight Note: Elements that Enhance Institutional Capacity Development in World Bank Projects and Country Partnerships in Sub-Saharan Africa

(Washington, DC, 2023-10-18) World Bank

Evaluation Insight Notes (EIN) offer new insights from existing evidence on important strategic and operational issues. This EIN draws on Independent Evaluation Group evidence to identify lessons for addressing institutional capacity development needs in Sub-Saharan Africa. Institutions shape how countries foster poverty reduction, support sustainable growth, and respond during crises. World Bank projects and country partnerships operating in challenging contexts in Sub-Saharan Africa routinely integrate and show results in institutional capacity development. Addressing institutional challenges in these and similar contexts involves multiple organizations and is like running through a labyrinth because of the need for quick decisions, unclear processes, shifting objectives, and trial and error. The cases reviewed for this EIN consistently supported institutional reforms in a variety of challenging contexts with, for example, compromised financial systems, corruption, and civil conflict. To help navigate institutional capacity development, this Evaluation Insight Note (EIN) answers the question: How can the World Bank help address institutional capacity development needs in Sub-Saharan Africa based on the body of work of the Independent Evaluation Group (IEG) from 2008 to 2022 Although an overall framework has not been defined to guide institutional capacity, the World Bank has often usefully diagnosed and addressed institutional capacity development needs by applying the Institutional Change Assessment Method. Using this method helps harness four elements that can enhance both the process and the results of institutional capacity development: (i) Routine integration of institutional capacity development in World Bank projects provides multiple entry points for enhancing processes of institutional change. (ii) Interventions with better institutional capacity development results tend to have higher outcome ratings. This implies that analyses from the Institutional Change Assessment Method can be used to adapt country portfolios in a way that improves outcome ratings. (iii) Because strengthening the ownership of interest groups is the most important dimension of institutional change in World Bank projects and country programs, its prioritization can help enhance results. (iv) Support for commitment, coordination, and cooperation helps improve institutional capacity development processes. (v) Support for commitment, coordination, and cooperation helps improve institutional capacity development processes.
World Bank Annual Report 2023: A New Era in Development

(Washington, DC: World Bank, 2023-09-28) World Bank

This annual report, which covers the period from July 1, 2022, to June 30, 2023, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the respective bylaws of the two institutions. Ajay Banga, President of the World Bank Group and Chairman of the Board of Executive Directors, has submitted this report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.
The World Bank Group’s 2018 Capital Increase Package - An Independent Validation of Implementation and Results

(World Bank, Washington, DC, 2023-08-29) Independent Evaluation Group

This report presents the Independent Evaluation Group’s validation of the World Bank Group’s 2018 capital increase package (CIP). It assesses the World Bank Group’s progress in implementing the CIP’s policy measures and achieving its targets, as well as the quality of management’s CIP reporting. The 2018 CIP boosted the Bank Group’s financial firepower with a $7.5 billion paid-in capital increase for the International Bank for Reconstruction and Development (IBRD), $5.5 billion paid-in capital increase for the International Finance Corporation (IFC), $52.6 billion callable capital increase for IBRD, and internal savings measures. The CIP also included a policy package that committed Bank Group management to policy actions linked to the Bank Group’s 2016 Forward Look strategy. The CIP committed to reporting annually on its implementation and an independent assessment after five years. This report fulfills the commitment to an independent assessment. This validation builds on management’s own reporting and other complementary evidence to assess the World Bank Group’s progress in implementing the CIP’s policy measures and achieving its targets. The report also assesses the quality of management’s CIP reporting. The report points to lessons on developing, implementing, and reporting corporate initiatives and commitments, such as the importance of having clear strategies or action plans, explicit buy-in from senior management, and accurate reporting with meaningful indicators and realistic targets.
The World Bank Group in the Kyrgyz Republic: Country Program Evaluation, Fiscal Years 2014–21

(Washington, DC: World Bank, 2023-08-10) Independent Evaluation Group

This report assesses the relevance and effectiveness of the World Bank’s engagement in the Kyrgyz Republic between fiscal years 2014 and 2021. The Kyrgyz Republic is a landlocked, lower-middle-income country that is highly dependent on remittances and natural resources. Poverty levels declined from 37% in 2013 to 20% in 2019. However, the country’s population remains vulnerable, and broad-based economic growth was elusive over the evaluation period. The Kyrgyz Republic faces major development challenges including weak governance, barriers to private sector development, and low quality of essential local public services. This Country Program Evaluation assesses the relevance and effectiveness of the World Bank’s engagement in the Kyrgyz Republic between fiscal years 2014 and 2021. It evaluates the Bank’s contributions to the country’s development in priority areas, focusing on support for governance, private sector development, and essential local public services. The evaluation distills lessons from Bank Group experience to inform future Bank Group engagement in the Kyrgyz Republic.
FY 2023 North Macedonia Country Opinion Survey Report

(World Bank, Washington, DC, 2023-05-25) World Bank Group

The Country Opinion Survey in North Macedonia assists the World Bank Group (WBG) in gaining a better understanding of how stakeholders in North Macedonia perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the private sector, and civil society in North Macedonia on 1) their views regarding the general environment in North Macedonia; 2) their overall attitudes toward the WBG in North Macedonia; 3) overall impressions of the WBG’s effectiveness and results, knowledge work and activities, and communication and information sharing in North Macedonia; and 4) their perceptions of the WBG’s future role in North Macedonia.
FY 2022 Angola Country Opinion Survey Report

(Washington, DC, 2023-05-08) World Bank Group

The Country Opinion Survey in Angola assists the World Bank Group (WBG) in gaining a better understanding of how stakeholders in Angola perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the private sector, and civil society in Angola on 1) their views regarding the general environment in Angola; 2) their overall attitudes toward the WBG in Angola; 3) overall impressions of the WBG’s effectiveness and results, knowledge work and activities, and communication and information sharing in Angola; and 4) their perceptions of the WBG’s future role in Angola.
FY 2022 Panama Country Opinion Survey Report

(Washington, DC, 2023-05-08) World Bank Group

The Country Opinion Survey in Panama assists the World Bank Group (WBG) in gaining a better understanding of how stakeholders in Panama perceive the WBG. It provides the WBG with systematic feedback from national and local governments, multilateral/bilateral agencies, media, academia, the private sector, and civil society in Panama on 1) their views regarding the general environment in Panama; 2) their overall attitudes toward the WBG in Panama; 3) overall impressions of the WBG’s effectiveness and results, knowledge work and activities, and communication and information sharing in Panama; and 4) their perceptions of the WBG’s future role in Panama.
International Finance Corporation Additionality in Middle-Income Countries: An Independent Evaluation April 17, 2022

(World Bank, Washington, DC, 2023-05-03) World Bank

Additionality is a core feature of private sector development finance institutions (DFIs). It is the unique contribution that a DFI or a multilateral/ bilateral bank brings to a private investment project that is not offered by commercial sources of finance. The key idea is that the investment project should add value without crowding out private sector activity. Identifying and articulating project additionality is particularly important in middle- income countries (MICs) since financial markets in MICs are more developed, and private investment far exceeds official development assistance. This evaluation report examines the relevance and effectiveness of IFC’s approach to additionality in MICs and seeks to explain the factors that contribute to or constrain its realization. While the evaluation focuses on IFC’s additionality on the level of the project, it also applies the lens of country and sector context to draw additional learning. Thus, it considers whether additionality can occur beyond the level of a single project—for example, at the country and sector level. Both at the project level and beyond the project, the evaluation derives lessons and offers recommendations on how IFC can further strengthen its additionality.