Publication:
Regional Program Evaluation of the Organisation of Eastern Caribbean States

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dc.contributor.authorIndependent Evaluation Group
dc.date.accessioned2020-01-21T18:03:16Z
dc.date.available2020-01-21T18:03:16Z
dc.date.issued2016
dc.description.abstractThe six independent members of the Organisation of Eastern Caribbean States (OECS)— Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines—face major development challenges and vulnerabilities. Their small size entails diseconomies of small scale in infrastructure, institutions, and markets. They are highly vulnerable to natural disasters, especially hurricanes, and to climate change. Their open but undiversified economies expose them to shocks. Tourism, now the dominant activity, faces eroding competitiveness and a loss of market share. A vicious circle has prevailed of low growth, high debt levels from weak public finances, and frequent shocks. During the FY06–14 evaluation period, the World Bank Group engaged with the OECS on two pillars of development: strengthening resilience and improving competitiveness. Program design was relevant and had laudable attributes, such as a good instrument mix in several cases, support for regional solutions with a strong economic rationale, flexibility to address risk, effective use of partnerships, and provision to confront capacity constraints. Bank Group program objectives however, were broad-ranging, involving many sectors and numerous activities. Greater selectivity would have allowed greater consistency and continuity of Bank support in priority areas, likely bringing better results. This evaluation rates the program’s progress toward achieving its objectives during FY06–14 as moderately satisfactory. Bank Group support helped strengthen areas such as fiscal and debt management, disaster risk management, social resilience, and the financial sector in the wake of the 2008–09 global crisis. A particularly important contribution drew on the Bank’s comparative advantage to help overcome a market failure through the establishment of a self-supporting, sustainable insurance mechanism against disaster events, the Caribbean Catastrophic Risk Insurance Facility. Looking ahead, it will be necessary to ensure selectivity and specificity in the objectives of new Bank lending, and simplicity and flexibility in its design, with appropriate provision for the institutional capacity that it requires. The Bank Group should also continue supporting OECS-wide development solutions, but only where the economic rationale and support among country stakeholders are strong. It should also continue consolidating its portfolio of activities, ensuring complementarity within clusters of lending and nonlending products, and seek to strengthen and showcase collaboration by the World Bank and the International Finance Corporation.en
dc.identifierhttp://documents.worldbank.org/curated/en/321361475064538830/Regional-program-evaluation-of-the-organisation-of-Eastern-Caribbean-States-Antigua-and-Barbuda-Dominica-Grenada-St-Kitts-and-Nevis-St-Lucia-and-St-Vincent-and-the-Grenadines-Cluster-country-program-evaluation-on-small-states
dc.identifier.doi10.1596/33199
dc.identifier.urihttps://hdl.handle.net/10986/33199
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectOECS
dc.subjectWORLD BANK GROUP PORTFOLIO
dc.subjectENGAGEMENT
dc.subjectRESILIENT DEVELOPMENT
dc.subjectDEBT SUSTAINABILITY
dc.subjectPUBLIC SECTOR GOVERNANCE
dc.subjectFISCAL POLICY
dc.subjectDISASTER RISK MANAGEMENT
dc.subjectCLIMATE RESILIENCE
dc.subjectENVIRONMENTAL PROTECTION
dc.subjectHUMAN CAPITAL
dc.subjectSOCIAL RESILIENCE
dc.subjectCOMPETITIVENESS
dc.subjectBUSINESS ENVIRONMENT
dc.subjectVALUE CHAIN
dc.subjectINFRASTRUCTURE
dc.subjectCATASTROPHE RISK
dc.subjectCATASTROPHE INSURANCE
dc.titleRegional Program Evaluation of the Organisation of Eastern Caribbean Statesen
dc.title.alternativeAntigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadinesen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleRegional Program Evaluation of the Organisation of Eastern Caribbean StatesAntigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines
okr.date.disclosure2016-09-28
okr.doctypePublications & Research
okr.doctypePublications & Research::IEG Evaluation
okr.docurlhttp://documents.worldbank.org/curated/en/321361475064538830/Regional-program-evaluation-of-the-organisation-of-Eastern-Caribbean-States-Antigua-and-Barbuda-Dominica-Grenada-St-Kitts-and-Nevis-St-Lucia-and-St-Vincent-and-the-Grenadines-Cluster-country-program-evaluation-on-small-states
okr.guid360611475064979028
okr.guid321361475064538830
okr.identifier.doi10.1596/33199
okr.identifier.externaldocumentum090224b0845c9f8a_1_0
okr.identifier.internaldocumentum26821786
okr.identifier.report108538
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/321361475064538830/pdf/Regional-program-evaluation-of-the-organisation-of-Eastern-Caribbean-States-Antigua-and-Barbuda-Dominica-Grenada-St-Kitts-and-Nevis-St-Lucia-and-St-Vincent-and-the-Grenadines-Cluster-country-program-evaluation-on-small-states.pdfen
okr.region.geographicalCaribbean
okr.topicEnvironment::Climate Change and Environment
okr.topicFinance and Financial Sector Development::Public & Municipal Finance
okr.topicGovernance::International Governmental Organizations
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicUrban Development::Hazard Risk Management
okr.topicPublic Sector Development::Public Sector Management and Reform
okr.unitIEG Eco Mgt & Country Prog (IEGEC)
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