Publication: The World Bank Group's Response to the Global Economic Crisis : Phase 1
Date
2011
ISSN
Published
2011
Author(s)
Independent Evaluation Group
Abstract
The global economic crisis that began in
2008 threatened to erase years of progress in developing
countries. In response, the World Bank Group increased
lending to unprecedented levels. The World Bank posted a
large increase in middle income countries (MICs), and a much
smaller one in low income countries (LICs). The
International Finance Corporation (IFC) focused on trade
finance, mainly in LICs. Its new business initially fell in
MICs, rebounding only in late fiscal 2010. The Multilateral
Investment Guarantee Agency (MIGA) concentrated on
guarantees in Eastern Europe. Analytic and advisory work
helped inform government and private sector responses to the
crisis. This report presents an initial real-time evaluation
of the readiness, relevance, quality-at-entry, short-term
results, and likely sustainability of the Bank Group
response from the start of the crisis through fiscal 2010.
This evaluation builds on a 2008 Independent Evaluation
Group (IEG) assessment of Bank Group interventions during
past crises and draws extensively on 11 country case studies
and field visits. Given the short time since the crisis
response started, the evaluation is geared more to raising
flags than to presenting definitive conclusions.
Citation
“Independent Evaluation Group. 2011. The World Bank Group's Response
to the Global Economic Crisis : Phase 1. © Washington, DC: World Bank. http://hdl.handle.net/10986/2277 License: CC BY 3.0 IGO.”