73048 v1 496,800,000 children immunized 266,000,000 people covered by social safety net programs 188,600,000 pregnant women received antenatal care 145,420,000 people gained access to improved water sources 124,670,000 children given a dose of vitamin A 65,790,000 people gained access to basic health services 34,900,000 insecticide-treated malaria bednets distributed 9,910,000 people benefited from improved sanitation 4,140,000 teachers recruited and/or trained 2,660,000 health personnel received training 1,960,000 additional households connected to piped water services 330,000 improved community water points constructed or rehabilitated 180,000 kilometers of roads built or rehabilitated Annual 2012 Report 2012 Annual Report The World Bank is committed to achieving and communicating results. In its ongoing dedication to overcoming poverty and creating opportunity for people in developing countries, the Bank is making progress both internally and in the field, and it continues to improve the way it serves its client countries. This year the Annual Report showcases the World Bank Corporate Scorecard, which includes a snapshot of country results achieved by partner countries with support from the Bank. As we are fast approaching 2015, the target year for reaching the Millennium Development Goals (MDGs), the inclusion of results indicators this year is particularly relevant. On the cover of this report, you will see some results that our partner countries achieved through Bank-supported projects around the world. These results, accomplished mostly over the past decade, illustrate the efforts of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together comprise the World Bank. We encourage you to read the chapters on the enclosed CD-ROM to learn more about the World Bank’s work; its activities and outcomes in the six regions; specific results throughout the developing world over time; comprehensive lending data and a World Bank lending presentation; and full financial statements. Multiple links are provided throughout the text to connect you with even more information. We invite you to visit the websites for the Annual Report, Corporate Scorecard—with full indicator definitions—and Results to broaden your understanding of how the World Bank works with its member countries: worldbank.org/annualreport/2012 corporatescorecard.worldbank.org worldbank.org/results Contents Message from Robert B. Zoellick .........................................................1 Message from Dr. Jim Yong Kim ..........................................................3 Message from the Board of Executive Directors ...................................4 The World Bank’s Commitment to Results: The Corporate Scorecard .....................................................................7 Tier I: Development Context..........................................................8 Tier II: Country Results Supported by the Bank ...........................10 Tier III: Development Outcomes and Operational Effectiveness ...............................................................................12 Tier IV: Organizational Effectiveness and Modernization .............14 The World Bank Group Affiliates ........................................................16 The Role of IBRD ................................................................................16 The Role of IDA ..................................................................................18 Operational Summary .......................................................................20 World Bank Lending by Theme and Sector ........................................22 This Annual Report, which covers the period from July 1, 2011, to June 30, 2012, 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. Dr. Jim Yong Kim, President of IBRD and IDA 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. All dollar amounts used in this Annual Report are current U.S. dollars unless otherwise specified. As a result of rounding, numbers in tables may not add to totals, and percentages in figures may not add to 100. Throughout this report, the terms “World Bank��? and “Bank��? refer to IBRD and IDA. “World Bank Group��? refers collectively to IBRD, IDA, IFC, MIGA, and ICSID. Annual Reports for the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID) are published separately. Annual Report 2012 Message from Robert B. Zoellick The past five years have been a time of testing for the World Bank Group and our ability to respond to the needs of our clients. Developing and developed countries have been challenged by the triple threat of the food, fuel, and financial crises. They’ve faced hunger, poverty, joblessness, and debt—an economic, social, and human crisis with political implications. Through these difficult times, the World Bank Group has stepped up to support our clients with flexibility, speed, innovation, and a focus on results. Out of challenge, we have looked for opportunity and hope. The World Bank Group’s shareholders have supported our priorities and performance with first-rate financial support. In 2007 and 2010, two record-breaking IDA replenishments raised more than $90 billion. In 2010, shareholders backed the IBRD’s first capital increase in more than 20 years. Today, we have a well-resourced Bank with an AAA rating. We have been modernizing multilateralism for a world economy with multiple poles of growth and democratizing development through greater openness and accountability, sharing knowledge and information. We are laying the foundations for expanding social accountability, fighting corruption, and building better governance. We have maintained our focus on the poor in all regions, especially Africa, emphasizing the need for fiscally responsible human safety nets to protect the most vulnerable. At the same time, we have customized new products for the middle-income countries that are increasingly important drivers of growth. Our agenda has included gender equality, food security, climate change and biodiversity, infrastructure investment, disaster prevention, financial innovation, and inclusion. The World Bank Group has paid special attention to the central role of the private sector in development. We are supporting the enabling environment for investment and private sector activity; extending financing to small and medium-sized businesses and microfinance; supporting trade finance; promoting greater attention to public-private partnerships; and encouraging investment in countries that need it the most, especially conflict-affected and fragile states. In fiscal 2012, the World Bank Group committed $52.6 billion in loans, grants, equity investments, and guarantees to its members and to private businesses. IBRD commitments totaled $20.6 billion, compared with $26.7 billion in 2011. IDA, the Bank’s fund for the poorest countries, made commitments of $14.8 billion, compared with $16.3 billion in 2011. This Annual Report incorporates the World Bank Corporate Scorecard, a focused snapshot of the Bank’s overall performance. Its purpose is to help Management and the Board of Executive Directors to evaluate progress and pinpoint programs and initiatives that require improvement. Results are at the core of the Scorecard. You can read about many of the Bank’s achievements in the “World Bank for Results 2012��? chapter on the CD-ROM that accompanies the printed version of this Annual Report. This year, we have placed the 1 The World Bank majority of our content—such as the Bank’s response to the global economic crisis and the six regional briefs—in electronic formats, to reflect readership preference, reduce paper, and lower costs. One important area of the Bank’s results is in “Gender Equality and Development��?—the theme of World Development Report 2012. The lives of girls and women have changed dramatically over the past decades: today, more girls and women are literate, in school, in the labor force, and living longer than ever before. Yet women still fall behind in earning and productivity, pre- and post-natal care, and in the strength of their voices in society. The main message of the Report is that gender equality is both a core development objective in its own right as well as smart economics—enhancing productivity and improving prospects for the next generation. The report points to priority areas for policy going forward, including closing gender gaps in female mortality, education, access to economic opportunities, and voice and influence within society. The World Bank’s staff are tackling these and other challenges with new and innovative tools. They range from PforR (Program for Results), a lending instrument that specifically ties funding to results; to the OKR (Open Knowledge Repository), an open-access home for our research outputs and knowledge products; to SABER (Systems Approach for Better Education Results), a global information base that will help guide education system reform. This year’s Annual Report showcases how these and other programs have been central to helping us better support our clients’ needs over the past year. This marks my last message to you as President of the World Bank Group. I want to thank our Governors, Board of Executive Directors, and other partners for their guidance and support in advancing the work of this vital institution. Most of all, I want to thank the Bank Group’s leadership team and the committed, hard-working, and thoughtful staff. You are the ones who bring the work of development to life, in all quarters of the globe. It has been my privilege to serve with you. Robert B. Zoellick President of the World Bank Group and Chairman of the Board of Executive Directors 2007–2012 2 Annual Report 2012 Message from Dr. Jim Yong Kim I am pleased to transmit the 2012 Annual Report of the World Bank. This report highlights the achievements and effectiveness of the institution, despite a challenging global economic environment. It also underscores the importance of collaboration across the World Bank Group and working with external partners to advance our shared goal of building prosperity and eradicating poverty. Today, the World Bank Group has a unique opportunity to accelerate inclusive and sustainable growth and social progress. We are continuing to support our clients as they respond to immediate pressures, especially through helping countries develop cost-effective social safety nets. But we are also well positioned to assist countries as they design and implement longer-term development strategies through our lending, knowledge, experience, and expertise. I look forward to working with the Board, our partners and clients, as well as the Bank Group’s dedicated staff in Washington, DC, and around the world. Our mission remains more important than ever—to help developing countries respond to immediate pressures, as well as look toward future opportunities. It is a privilege to undertake this great work. Dr. Jim Yong Kim President of the World Bank Group and Chairman of the Board of Executive Directors 3 The World Bank Annual Report 2012 From left to right (standing) Rogerio Studart, Ingrid Hoven, Agapito Mendes Dias, Merza Hasan, Piero Cipollone, Jorg Frieden, Vadim Grishin, Marie-Lucie Morin, Shaolin Yang, Marta Garcia Jauregui, Hekinus Manao, Sid Ahmed Dib (Alternate), Ruud Treffers, Konstantin Huber, In-Kang Cho (Alternate), Hassan Ahmed Taha, Mukesh N. Prasad; (seated) Ian Solomon, Felix Alberto Camarasa, Ambroise Fayolle, Susanna Moorehead, Abdulrahman Almofadhi, Anna Brandt, Renosi Mokate, Nobumitsu Hayashi. Message from the Photo: Frank Vincent Board of Executive Directors The 25 resident Executive Directors are responsible for the conduct of the Bank’s The Independent Evaluation Group (IEG) reports directly to the Board of Executive general operations under delegated powers from the Board of Governors. As Directors, providing independent advice on the relevance, sustainability, and impact provided in the Articles of Agreement, five Executive Directors are appointed by of operations. The Board also monitors the compliance of projects with operational single countries having the largest number of shares, with the rest elected by other policies and procedures through the independent Inspection Panel, which also member countries to form constituencies in an election process every two years. reports to the Board. (See http://worldbank.org/ieg and http://worldbank.org/ The Board considers and decides on the International Bank for Reconstruction inspectionpanel.) and Development (IBRD) loan and guarantee proposals and the International Development Association (IDA) credit, grant, and guarantee proposals made by Board Achievements of 2012 the President. Executive Directors fulfill an important role in guiding the general Executive Directors continued to exercise their oversight of the institution amid a operations of the Bank and its strategic direction, representing the evolving challenging global economic outlook, emphasizing reforms to advance poverty perspectives of member countries on the global role of the Bank, as well as clients’ reduction and inclusive growth, as well as support for crisis resilience. The Board experience. They are also responsible for presenting to the Board of Governors an considered a number of documents key to these concerns. These documents audit of accounts, an administrative budget, and The World Bank Annual Report on included the World Development Report 2012: Gender Equality and Development, fiscal year results, operations, and policies of the Bank. and the report “Safety Nets Work: During Crisis and Prosperity,��? which concentrates Executive Directors also serve on one or more standing committees: the on improving the design and efficiency of existing social safety net programs and Audit Committee, Budget Committee, Committee on Development Effectiveness, creating new ones where needed. Executive Directors also looked forward to the Committee on Governance and Administrative Matters, and Human Resources World Development Report 2013: Jobs. Committee. The Executive Directors’ Steering Committee, an informal advisory body, Directors discussed progress toward the Millennium Development Goals (MDGs) also meets regularly. in the Global Monitoring Report: Food Prices, Nutrition, and the MDGs. In addition, Directors periodically visit member countries to review Bank assistance in they discussed key reform efforts, such as the Open Data, Open Knowledge, progress. They meet a wide range of stakeholders, including government officials, Open Solutions Initiative described in the report “Update on the Bank’s Business beneficiaries, representatives of nongovernmental organizations, other development partners, and the business community, as well as Bank staff. In October 2011 and February and May of 2012, Directors visited countries in Europe and Central Asia, South Asia, and West Africa. 4 5 The World Bank Modernization: Results, Openness, and Accountability.��? The Board also gave its attention to the ongoing ministerial-level dialogue on sustainable development in support of the Rio+20 and G-20 processes, and welcomed the report “The World Bank Group Innovations in Leveraging the Private Sector for Development.��? Executive Directors further supported drought and famine relief in the Horn of Africa with funds from the Crisis Response Window and affirmed their commitment to implementing the New Deal for Engagement in Fragile States, and to the MDGs, especially in lagging regions, fragile states, and for vulnerable and excluded populations. Executive Directors selected Dr. Jim Yong Kim as President for a five-year term beginning on July 1, 2012. Dr. Kim is President of the World Bank Group and Chairman of the Board of Executive Directors. The Board approved approximately $35.3 billion in financial assistance in fiscal 2012, comprising about $20.6 billion in IBRD lending and $14.8 billion in IDA support. Executive Directors also reviewed 49 country assistance strategy products, 41 of which were prepared jointly with the International Finance Corporation (IFC). The Board approved an administrative budget for the World Bank of just under $1.9 billion for fiscal 2013. (See http://worldbank.org/boards.) 6 Annual Report 2012 The World Bank’s Commitment to Results: The Corporate Scorecard The Corporate Scorecard provides information on the Bank’s overall performance and results achieved by its clients. The Scorecard facilitates dialogue between Management and the Board on progress made and areas that need attention. Introduced two years ago, the four-tier Scorecard covers the full spectrum of IBRD and IDA activities. Tier I provides the Global Development Context—the indicators show the long-term development outcomes that countries are achieving, and provide the context and direction for the Bank’s work. These high-level outcomes cannot be attributed directly to the Bank, because countries and their development partners all contribute to these achievements over the long term through a combination of multisector interventions, actions, and policy decisions. These indicators are also affected by external factors such as global crises. Tier II is Country Results Supported by the Bank. This tier highlights development results that countries have achieved with Bank support. Tier III, Development Outcomes and Operational Effectiveness, provides information on the effectiveness of the Bank’s operations and services. Organizational Effectiveness and Modernization, Tier IV, assesses how well the Bank is functioning and adapting to better support countries in achieving results. In addition, the Bank operates a comprehensive web-based results reporting system. I Development Context What is the development progress in Bank client countries as a group? Growth, Jobs, and Poverty Institutions and Governance Human Development and Gender Sustainable Development RESULTS Finance, Private Sector Development, and Trade Country Results Supported by the Bank II How is the Bank supporting countries in achieving results? Institutions and Governance Y Human Development and Gender G Sustainable Development G Finance, Private Sector Development, and Trade G III Development Outcomes and Operational Effectiveness Is the Bank managing the performance of its activities effectively to achieve results? Development Outcomes Y Lending Operations Y PERFORMANCE Knowledge Activities G Use of Country Systems G IV Organizational Effectiveness and Modernization Is the Bank managing skills, capacity, resources, and processes efficiently? Is business modernization on track? Resources and Alignment G Capacity and Skills Y Business Modernization Y Sector Actions related to Post-Crisis Directions G LEGEND G Majority of the indicators in the group show improvement or are on-track. Y No clear trend; while some indicators show improvement, others show decline or no change. R Majority of the indicators in the group show declines or are off-track. NA There is insufficient data or there are no trends for the indicators in the group. For Tier I, color-coded traffic lights are not assigned since Tier I provides overall development context. For Tier II, the Summary table presents overall ratings based on management assessment of progress of Bank-supported activities. Ratings are not assigned to individual indicators in the detailed table since these are driven by country demand. 7 The World Bank Annual Report 2012 Tier I: Development Context Tier I: The latest data on poverty shows that for BASELINE CURRENT LINKAGES INDICATORS MDG TARGETS 1990–2015 the first time, in every region of the developing Value Year Value Year PCD MDG world, the number of poor declined, and GROWTH, JOBS, AND POVERTY despite recent crises, global poverty overall Population below US$ 1.25 (PPP) a day+ (%) 31.1 2002 22.7 2008 1 MDG1 Halve from the baseline of 42.3%, 1990 continued to fall. A preliminary World Bank + survey-based estimate for 2010 on a much GDP per capita (constant 2000 US$) 1,657 2006 2,080 2011 1,2 smaller sample indicates that the global Domestic credit to private sector (% of GDP) 55.2 2005 74.7 2011 1,2 poverty rate at $1.25 a day fell to less than half Employment to population ratio (15+) (%) 62.1 2005 61.2 2010 1,2 MDG1 its 1990 value indicating the first Millennium Ratio of female-to-male labor force participation+ (%) 68.4 2006 67.5 2010 1,2 MDG3 Development Goal (MDG) target of cutting the extreme poverty rate to half its 1990 level INSTITUTIONS AND GOVERNANCE was already achieved before 2015. Developing State Institutions with adequately established/differentiated power structure (scale: 1–10) 6.2 2006 6.3 2012 4 countries hit numerous other strides. Average Effective and accountable government (scale: 0–7) 2.89 2006/07 3.20 2010 4 annual GDP per capita in developing countries Public access to information (scale: 0–100) 50.01 2007 56.94 2010/11 4 increased. Gender parity in primary and Level of statistical capacity (scale: 0–100) 66 2005 67 2011 4 secondary schools improved in 2010. By 2010, nearly 86 percent of the world’s population had HUMAN DEVELOPMENT AND GENDER access to improved drinking water. Reduce by two-thirds from the baseline These global trends mask significant Under 5 mortality rate+ (per 1,000 live births) 70 2006 63 2010 1,5 MDG4 of 100, 1990 variations between and within countries. The Prevalence of HIV, female (% ages 15–24) 0.8 2009 0.8 2009 1,5 MDG6 Halt by 2015 and begun to reverse poorest population groups remain vulnerable, Reduce by three-fourths from the baseline and only limited progress has been made in Maternal mortality ratio+ (per 100,000 live births) 290 2005 230 2010 1,5 MDG5 of 440, 1990 employment, governance, and biodiversity, as Prevalence of underweight children + (% children under 5yrs) 20.1 2005 17.7 2010 1,5 MDG1 well as other priority areas. Maternal mortality Primary school completion rate + (% of relevant age group) 85.1 2005 89.2 2010 1,2 MDG2 100% (baseline of 69%, 1991) and child mortality are falling significantly short of their MDG targets. The food, fuel, and Secondary school enrollment rate (%, gross) 60.7 2005 66.7 2010 1,2 financial crises over the past four years at times Gender parity index in primary and secondary education+ (%) 94.4 2005 96.9 2010 1,2 MDG3 100% (baseline of 84% 1991) caused sharp negative impacts on vulnerable SUSTAINABLE DEVELOPMENT populations and slowed the rate of poverty Infrastructure reduction in some countries. Paved roads (% of total roads) 31.6 1999–03 50.6 2005–09 1,2 Halve proportion of people without access Access to an improved water source+ (% of population) 83.4 2005 86.4 2010 1,2 MDG7 (baseline of 28%, 1990) Legend Halve proportion of people without access Access to an improved sanitation facility+ (% of population) 53.2 2005 56.4 2010 1,2 MDG7 LINKAGES (baseline of 57%, 1990) Household electrification rate + (% of households) [56.3] 2004 [61.3] 2008 1,2 PCD 1–5 Linkages to Post-Crisis Directions: Mobile cellular telephone subscriptions+ (per 100 people) 33 2006 73 2010 1,2 MDG8 1. Target the Poor and Vulnerable 2. Create Opportunities for Growth Agriculture Productivity and Food Security 3. Promote Global Collective Action Cereal yield (kg per hectare) 2,894 2006 3,110 2010 1,2,5 4. Strengthen Governance 5. Manage Risk and Prepare for Crisis Agriculture value added per worker (constant 2000 US$) 685 2006 761 2010 1,2,5 Climate Change and Environment MDG + Linkage to the Millennium Development Goals. CO2 emissions (kg per 2005 US$ of GDP) 0.65 2005 0.60 2008 3 MDG7 Protected terrestrial areas (% of total surface area) 12.0 2006 12.1 2010 1,3 MDG7 DATA Average annual deforestation (%) 0.3 1990–00 0.2 2000–10 1,3 MDG7 [ ] IDA only + Indicators used in proposed IDA16 Results FINANCE, PRIVATE SECTOR DEVELOPMENT, AND TRADE Measurement System Male–female gap in the population with an (% of population 15+) 9.7 2011 9.7 2011 1,2 account at a formal financial institution Note: For Tier I, color-coded traffic lights are Trade logistics performance index: Overall+ (scale: 1 = low, 5 = high) 2.5 2007 2.6 2012 1,2,3 MDG8 not assigned because Tier I provides the overall development context in IBRD/IDA eligible countries. Trade diversification 1,2,3 MDG8 • Product export diversification (index: 0–1) 0.24 2005 0.21 2009 • Market diversification (index: 0–1) 0.23 2005 0.21 2009 Time required for business start-up+ (days) 50 2007 36 2011 2 8 9 The World Bank Annual Report 2012 Tier II: Country Results Supported by the Bank Tier II: The Bank provides financial resources, BASELINE CURRENT PCD INDICATORS TYPE shares knowledge and analysis, supports Value Year Value Year LINKAGE institutions and country capacity, and facilitates SUPPORT TO INSTITUTIONS AND GOVERNANCE partnerships and knowledge exchanges among developing countries to help them address Countries with strengthened national statistical systems (number) Outcome 6 FY07 13 FY12 2,4 development challenges. The Bank supports Countries with Bank-supported programs on asset, liability, and risk management (number) Output 64 FY10 85 FY12 2,4,5 countries’ national development priorities, which evolve as country circumstances change. Countries with strengthened Public Management Systems in: As a contributor and partner to country • Civil service and public administration (number) Outcome 28 FY12 28 FY12 2,4 development programs, the Bank, with offices in more than 120 countries, often • Tax policy and administration (number) Outcome 27 FY12 27 FY12 2,4 plays a coordinating and convening role • Public financial management (number) Outcome 57 FY12 57 FY12 2,4 for development partners. Tier II includes aggregate data collected through the • Procurement (number) Outcome 11 FY12 11 FY12 2,4 standardized sector indicators. The data show • Transparency and access to information (number) Output 61 FY11 72 FY12 2,4 country results supported by Bank operations. Results pertaining to human development, SUPPORT TO HUMAN DEVELOPMENT AND GENDER infrastructure, and access to services for the Teachers recruited and/or trained+ (millions) Outcome 0.95 FY11 1.1 FY12 1,2 poor and the vulnerable, as well as for creating opportunities for growth, are included. Bank Countries with Bank-supported learning assessments (number) Output 25 FY10 29 FY11 1,2 support has contributed to significant results People with access to a basic package of health services+ (millions) Outcome 18.2 FY11 19.5 FY12 1,5 achieved by its clients in education and health, especially those related to women and girls; in Children immunized+ (millions) Outcome 78 FY11 128 FY12 1,5 the sustainable development of infrastructure, Beneficiaries covered by social safety net programs (millions) Outcome 114.6 FY09 114.1 FY11 1,5 agriculture, and an environment for growth and access; and in finance and private sector Gender development. Pregnant women receiving antenatal care+ (millions) Outcome 17 FY11 50 FY12 1,5 Women and girls benefiting from social protection programs and other targeted schemes (millions) Outcome 78 FY12 78 FY12 1,2 Legend SUPPORT TO SUSTAINABLE DEVELOPMENT LINKAGES Infrastructure PCD 1–5 Roads constructed or rehabilitated + (kilometers) Output 56,504 FY11 57,252 FY12 1,2 Linkages to Post-Crisis Directions: 1. Target the Poor and Vulnerable People provided with access to improved water sources+ (millions) Outcome 39.6 FY12 39.6 FY12 1,2,5 2. Create Opportunities for Growth 3. Promote Global Collective Action People provided with access to improved sanitation+ (millions) Outcome 3.1 FY12 3.1 FY12 1,2,5 4. Strengthen Governance 5. Manage Risk and Prepare for Crisis Transmission and distribution lines constructed or rehabilitated (kilometers) Output 10,740 FY11 36,354 FY12 2 Generation capacity of conventional and renewable energy (megawatts) Output 3,719 FY11 5,040 FY12 2 TYPE Output indicators will be replaced by outcome People provided with access to electricity (millions) Outcome Data to be reported in 2013 1,2 indicators as country-level data become available. Agriculture Productivity and Food Security DATA Area provided with irrigation services (hectares, millions) Output 0.7 FY11 1.1 FY12 1,2,5 Year Represents the fiscal or calendar year when most Farmers adopting improved agricultural technology (number) Outcome 531,868 FY12 531,868 FY12 1,2,5 recent data were available. + Indicators used in proposed IDA16 Results Climate Change and Environment Measurement System Emission reduction with support of special climate finance instruments (annual, million tons CO2 equivalent) Outcome 315 FY12 315 FY12 3,5 Note: For Tier II, color-coded traffic lights are not Countries supported on natural disaster management (number) Output 76 FY10 74 FY12 1,2,3,5 assigned for individual indicators because they represent country results achieved with Bank support and are demand-driven. SUPPORT TO FINANCE, PRIVATE SECTOR DEVELOPMENT, AND TRADE The Bank first started data aggregation using Core Active number of microfinance loan accounts (millions) Outcome 31 FY12 31 FY12 1,2,5 Sector Indicators in IDA projects in FY10, and in FY11, it also included IBRD; therefore, the baseline and Countries that have applied trade-related diagnostic tools (number) Outcome 15 FY12 15 FY12 1,2,3 current values of some indicators are revised and have the same values. 10 11 The World Bank Annual Report 2012 Tier III: Development Outcomes and Operational Effectiveness BASELINE CURRENT PCD PERFORMANCE Tier III: The Bank’s policies, systems, and INDICATORS STATUS processes reinforce its emphasis on results. Value Year Value Year LINKAGES STANDARD They include quality assurance; real-time III-A: DEVELOPMENT OUTCOME RATINGS monitoring of results and performance; and systematic self-evaluation, complemented by ex Satisfactory CAS/CPS completion+ (% IEG rating) 59.0 FY10 63.0 FY12 70 R post independent evaluation of strategies and Satisfactory (IBRD/IDA) operations outcomes at completion+ (% IEG rating) 76.8 FY08 70.5 FY10 Monitored Y activities by the Independent Evaluation Group (IEG). This tier shows the overall success of Bank • IBRD countries (% IEG rating) 76.5 FY08 70.5 FY10 80 R activities in achieving their development goals, as well as the Bank’s operations effectiveness, • IDA countries (% IEG rating) 77.0 FY08 70.0 FY10 75 Y including the quality and results orientation • Fragile situations (IBRD/IDA)* (% IEG rating) 82.6 FY08 71.4 FY10 70 G of its operations and knowledge activities, the performance of its lending portfolio, the Analytic and advisory activities objectives accomplished+ (%) 72.0 FY08 71.0 FY11 80 Y mainstreaming of gender in its operational work, client feedback, and its use of country systems. Clients’ impression of Bank effectiveness (scale: 0–10) 6.9 FY08 6.7 FY11 7 Y III-B: OPERATIONAL EFFECTIVENESS LENDING OPERATIONS Legend Ensuring Sound Quality and Portfolio Performance Quality of design for investment operations+ (%) 76 FY09 83 FY11 90 Y LINKAGES PCD 1–5 Quality of implementation support for investment operations (%) 83 FY09 78 FY11 90 Y Linkages to Post-Crisis Directions: 1. Target the Poor and Vulnerable Satisfactory implementation of active operations (%) 88 FY08 85.5 FY12 Monitored G 2. Create Opportunities for Growth 3. Promote Global Collective Action Gross disbursements (US$ billions) 19.6 FY08 30.8 FY12 Monitored G 4. Strengthen Governance 5. Manage Risk and Prepare for Crisis Disbursement ratio+ (%) 21.3 FY08 20.0 FY12 20 G Average time from approval to first disbursement (months) 12 FY08 7.51 FY11 Monitored G DATA * List of countries designated as “fragile��? changes Recipient executed trust fund disbursements (US$ billions) 2.9 FY08 3.6 FY12 Monitored G every year + Indicator used in proposed IDA16 Results Managing Operations for Results, Monitoring, and Evaluation Measurement System Year Projects with indicators capturing all aspects of development objective+ (%) 83 FY09 91 FY12 100 Y Represents the fiscal or calendar year when data were reviewed. Implementation Completion and Results Reports reporting key results+ (%) 95 FY12 95 FY12 100 G Bank operations with beneficiary feedback (%) 22 FY11 22 FY11 Monitored NA PERFORMANCE STANDARDS Performance standards/targets are provided Gender Mainstreaming where available. Indicators are “monitored��? where performance standard or target is not relevant. Blank Projects with gender-informed design+ (%) 60 FY10 80 FY12 1,2 55 Y cells show that some standards are not developed. CAS/CPS that draw on and discuss gender assessment findings+ (%) 60 FY08 100 FY12 1,2 100 G STATUS KNOWLEDGE ACTIVITIES G On-track. A meaningful increase from baseline, or for indicators with performance standards, Data freely accessed by global users (million visits) 1.7 2008 6.8 2011 Monitored G achievement meets or exceeds performance standard. Publications including research cited in professional journals (number) 18,000 2010 18,000 2010 Monitored G Y Watch. No meaningful increase or decrease, or for indicators with performance standards, USE OF COUNTRY SYSTEMS achievement is close to performance standard but does not meet performance standard. Use of country systems for procurement (PD survey)+ (%) 40 2006 55 2011 55 G R Off-track. A meaningful decrease from baseline, Use of country systems for financial management (PD survey) + (%) 42 2006 71 2011 65 G or for indicators with performance standards, achievement is not close to performance standard. Use of country monitoring and evaluation systems + (%) 72 FY09 77 FY12 Monitored G NA Not applicable. There is insufficient data to establish a trend, or there is no performance Collaborative analytical and advisory activities (PD survey)+ (%) 49 2006 59 2011 66 Y standard. Note: CAS=Country Assistance Strategy; CPS=Country Partnership Strategy; PD=Paris Declaration. 12 13 The World Bank Annual Report 2012 Tier IV: Organizational Effectiveness and Modernization Tier IV: The Bank continues to work to improve BASELINE CURRENT PCD/M PERFORMANCE INDICATORS STATUS its organizational efficiency, to better align the Value Year Value Year LINKAGES STANDARD skills and capacity of its staff with its strategic priorities, and to implement its modernization IV-A. RESOURCES, SKILLS, AND BUSINESS MODERNIZATION agenda in order to become more responsive RESOURCES AND ALIGNMENT and accountable to its stakeholders. The Bank Client services as % of total cost (%) 62.6 FY08 63.2 FY12 Monitored G has been steadily improving its organizational effectiveness. With a real flat budget since fiscal Client services in fragile and conflict-affected areas (% of total cost) 4.9 FY08 5.9 FY12 Monitored Y 2006, it has made continuous improvements in Lending commitments (IBRD/IDA) (US$ billions) 24.7 FY08 35.3 FY12 Monitored G the way it allocates and uses its resources. Financial intermediary funds commitments (US$ billions) 4.69 FY08 6.08 FY12 Monitored NA Recipient executed trust fund commitments (US$ billions) 2.9 FY08 3.9 FY12 Monitored G Legend Share of knowledge services funded by trust funds (%) 31.6 FY08 45.1 FY12 Monitored Y LINKAGES Use of trust funds to support IBRD/IDA lending preparation PCD 1–5 (%) 10.3 FY08 14.9 FY12 Monitored Y and implementation support Linkages to Post-Crisis Directions: CAPACITY AND SKILLS 1. Target the Poor and Vulnerable 2. Create Opportunities for Growth Staff diversity (index) 0.85 FY08 0.89 FY12 1.00 Y 3. Promote Global Collective Action 4. Strengthen Governance Staff mobility (%) 4.39 FY08 4.39 FY12 Monitored Y 5. Manage Risk and Prepare for Crisis M = Business Modernization Staff engagement (%) 78 FY08 80 FY10 Monitored Y BUSINESS MODERNIZATION DATA + Indicator used in proposed IDA16 Results Products and Services for Results Measurement System Lending for program results (number) 0 FY12-Q3 2 FY12-Q4 M Monitored NA Year Represents the fiscal or calendar year when data were IBRD/IDA results stories and briefs (number on web) 131 2008 646 FY12 Monitored G reviewed. Sectors/themes with core indicators for both IDA and IBRD (number) 0 FY09 24 FY12 7 G PERFORMANCE STANDARDS Organization Performance standards and targets are provided where available. Indicators are “monitored��? where the Openness: Access to Information requests with timely completion (%) 78 FY11 78 FY12 M Monitored G performance standard or target is not relevant. Blank cells show that some standards are not developed. Sector Board Connectivity: Professional staff time spent on tasks (%) 7.5 FY08 6.8 FY12 M 10 R in other Bank units PROJECTIONS Decentralization: Services for clients managed by staff based in (%) 40.6 FY08 44.4 FY12 M Monitored Y Projections are based on the current estimation of client countries+ future client demands. Processes and Systems for Flexibility and Efficiency Projects with new risk framework with fast processing (%) 45 FY11 38 FY12 M Monitored Y STATUS G On-track. A meaningful increase from baseline, Speed of preparation from Concept Note to Approval+ (months) 17 FY08 14 FY12 M 12 months Y or for indicators with performance standards, achievement meets or exceeds performance Average cost of preparing a lending project+ (average, US$) 359,000 FY08 357,000 FY12 M Monitored G standard. Y Watch. No meaningful increase or decrease, Average annual cost supporting project implementation+ (average, US$) 115,000 FY08 132,000 FY12 M Monitored G or for indicators with performance standards, achievement is close to performance standard but Budget flexibility at the start of the fiscal year (%) 3.2 FY08 3.1 FY13 5 R does not meet performance standard. R Off-track. A meaningful decrease from baseline, IV-B. SECTOR ACTIONS RELATED TO POST-CRISIS DIRECTIONS PROJECTIONS or for indicators with performance standards, Support to agriculture and related sectors achievement is not close to performance standard. (average, US$ billions/year) 2.9 FY06–08 4.3 FY10–12 1,2,5 4.5–6.4 (2010–12) Y NA Not applicable. There is insufficient data to (IBRD, IDA, SPF) establish a trend, or there is no performance Support to sustainable infrastructure standard. (average, US$ billions/year) 8.2 FY04–07 19.5 FY09–12 1,2,3 Monitored G (IBRD, IDA, GEF, RETF, SPF) Support to health, nutrition, and population (average, US$ billions/year) 1.5 FY04–07 2.4 FY11–12 1,4 2.0–3.0 (2011–12) G (IBRD, IDA) Support to education sector (average, US$ billions/year) 1.0 FY95–09 1.7 FY10–12 1,2 1.1 (2010–15) G (IDA) 14 15 The World Bank Annual Report 2012 The World Bank Group Affiliates themes receiving the highest share of commitments were Financial and Private Sector Development (16 percent), followed by Public Sector Governance (13 percent) and The institutions of the World Bank Group are the International Bank for Reconstruction Human Development (13 percent). and Development (IBRD) and the International Development Association (IDA), which IBRD also offers financial products that allow clients to efficiently fund their together comprise the World Bank; the International Finance Corporation (IFC); the development programs and manage risks related to currency, interest rates, Multilateral Investment Guarantee Agency (MIGA); and the International Centre for commodity prices, and natural disasters. In fiscal 2012, the Bank’s Treasury executed Settlement of Investment Disputes (ICSID). These organizations work together and U.S. dollar equivalent (USDeq) 2.5 billion in hedging transactions on behalf of member complement each other’s activities to achieve their shared goal of reducing poverty countries, including USDeq 2.3 billion in interest rate hedges and USDeq 149 million and improving lives. Collaboration among the affiliates is increasing as the Bank works in currency hedges (all local currency conversions). It also executed swap transactions more closely with the private sector. Each institution discloses its fiscal year highlights totaling USDeq 9.5 billion to manage the risks of its balance sheet. In addition, in a separate annual report. Treasury executed USDeq 269 million in swaps on behalf of the International Finance Facility for Immunisation. The Role of IBRD This global development cooperative is owned by 188 countries. IBRD works IBRD Resources with its members to achieve equitable and sustainable economic growth in their IBRD issues bonds in international capital markets and provides long-term loans to national economies and to find solutions to pressing regional and global problems middle-income countries. In fiscal 2012, IBRD raised USDeq 38.4 billion by issuing in economic development and in other important areas, such as environmental bonds in 23 currencies. Because of its standing in the capital markets and its sustainability. It pursues its overriding goal—to overcome poverty and improve financial strength, IBRD was able to borrow these large volumes on very favorable standards of living—primarily by providing loans, risk management products, and terms despite volatile market conditions. The Bank’s strength is based on IBRD’s expertise on development-related disciplines and by coordinating responses to prudent financial policies and practices, which help maintain its AAA credit rating. regional and global challenges. (See http://www.worldbank.org/ibrd.) IBRD’s equity primarily comprises paid-in capital and reserves. Under the terms of the general and selective capital increase resolutions approved by the Board of IBRD Financial Commitments and Services Governors on March 16, 2011, subscribed capital is expected to increase by $86.2 New lending commitments by IBRD were $20.6 billion, including 93 operations, in billion, of which $5.1 billion will be paid-in over a five-year period. As of June 30, fiscal 2012—significantly higher than the historical average ($13.5 billion in fiscal 2012, the cumulative increase in subscribed capital and the related paid-in amounts 2005–08), but less than the record $44.2 billion in fiscal 2010 when the crisis peaked, in connection with these capital increase resolutions totaled $15.3 billion and $0.9 and less than the $26.7 billion in fiscal 2011. Europe and Central Asia ($6.2 billion) and billion, respectively. Latin America and the Caribbean ($6.2 billion) received the largest shares of IBRD’s As a cooperative institution, IBRD seeks not to maximize profit but to earn enough new lending, followed by East Asia and Pacific ($5.4 billion). Commitments to the income to ensure its financial strength and sustain its development activities. Of fiscal Middle East and North Africa ($1.4 billion), South Asia ($1.2 billion), and Africa ($147 2012 allocable net income, the Executive Directors approved the addition of $390 million) followed. Among sectors, Public Administration, Law, and Justice received the million to the general reserve, and recommended to the Board of Governors the largest commitment ($5.4 billion), followed by Transportation ($3.4 billion), Energy transfer of $608 million to IDA. and Mining ($2.8 billion), and Health and Other Social Services ($2.5 billion). The Consistent with IBRD’s development mandate, the principal risk it takes is the country credit risk inherent in its portfolio of loans and guarantees. One summary measure of the Bank’s risk profile is the ratio of equity to loans and long-term FIGURE 1 investment assets, which is closely managed in line with the Bank’s financial and risk IBRD RATIO OF EQUITY TO LOANS AND LONG-TERM INVESTMENT ASSETS outlook. This ratio stood at 27.0 percent as of June 30, 2012. AS OF JUNE 30, 2012 PERCENT The Role of IDA 40 37.6 The World Bank’s fund for the poorest countries, IDA is the largest multilateral channel 34.3 of concessional financing to the world. Its funding supports countries’ efforts to boost 29.4 28.6 30 27.0 economic growth, reduce poverty, and improve the living conditions of the poor. In fiscal 2012, 81 countries were eligible to receive IDA assistance. 20 (See http://www.worldbank.org/ida.) 10 IDA Financial Commitments IDA commitments amounted to $14.8 billion in fiscal 2012, including $12.1 billion 0 FY08 FY09 FY10 FY11 FY12 in credits, $2.2 billion in grants, and $0.4 billion in guarantees. The largest share of resources was committed to Africa, which received $7.4 billion. South Asia ($5.3 16 17 The World Bank Annual Report 2012 billion) and East Asia and Pacific ($1.2 billion) also received large shares of committed The overarching theme and main focus of IDA16 is the delivery of development funding, followed by Latin America and the Caribbean ($0.4 billion), Europe and results. Special themes include crisis response, gender, climate change, and fragile Central Asia ($0.4 billion), and Middle East and North Africa ($0.1 billion). India ($2.7 and conflict-affected states. IDA16 includes funding for a dedicated Crisis Response billion) and Nigeria ($1.3 billion) were the largest country recipients. Window to help low-income countries deal with the impact of natural disasters and Commitments for Infrastructure, including the sectors Energy and Mining; severe economic shocks. Transportation; Water, Sanitation, and Flood Protection; and Information and Communications, reached $5.1 billion. Significant support was also committed to the Education sector and Health and Other Social Services sector (combined $3.4 billion), the Public Administration, Law, and Justice sector ($3.3 billion), and the Agriculture FIGURE 3 sector ($2 billion). The themes receiving the highest share of commitments were IBRD-IDA LENDING BY REGION | FISCAL 2012 SHARE OF TOTAL LENDING OF $35.3 BILLION Rural Development (24 percent), Human Development (16 percent), and Urban South Asia 18% 21% Africa Development (13 percent). IDA Resources Middle East and North Africa 4% IDA is largely financed by contributions from donor governments. Additional financing comes from transfers from IBRD’s net income, grants from IFC, and Latin America and 19% East Asia and Pacific borrowers’ repayment of earlier IDA credits. Every three years, donor governments and the Caribbean 19% representatives of borrower countries meet to discuss IDA’s policies and priorities, and to agree on the volume of new resources required to fund its lending program over the subsequent three fiscal years. 19% Europe and Central Asia Under the 16th Replenishment (IDA16), which covers fiscal years 2012–14, total resources (revised to reflect IDA’s currency hedging and updated subsequent to FIGURE 4 the replenishment discussions) amount to SDR (Special Drawing Rights) 33.9 billion IBRD-IDA LENDING BY SECTOR | FISCAL 2012 SHARE OF TOTAL LENDING OF $35.3 BILLION (equivalent to $50.9 billion). This figure includes donor resources of SDR 17.6 billion Water, Sanitation, and Flood (equivalent to $26.4 billion) from 51 countries, 7 of which are new donors; donor Protection 10% 9% Agriculture, Fishing, and Forestry compensation for debt forgiveness of SDR 3.5 billion (equivalent to $5.3 billion); 8% Education credit reflows of SDR 8.9 billion (equivalent to $13.4 billion), including funds from Transportation 13% accelerated credit repayments and the differentiation of lending terms for IDA’s blend and gap borrowers; transfers from within the World Bank Group, including associated 14% Energy and Mining investment income of SDR 1.9 billion (equivalent to $2.8 billion); and balances carried Public Administration, forward from prior replenishments of SDR 2.0 billion (equivalent to $2.9 billion). Law, and Justice 25% 5% Finance The US$ equivalents are based on the reference exchange rate for IDA16, and the 12% Health and Other Social Services amounts are provided for illustrative purposes only, because IDA cash flows are Information and Communications <1% 4% Industry and Trade hedged to SDRs, the currency in which IDA’s commitment authority is recorded. FIGURE 5 FIGURE 2 IBRD-IDA LENDING BY THEME | FISCAL 2012 SHARE OF TOTAL LENDING OF $35.3 BILLION IDA REPLENISHMENTS BILLIONS OF DOLLARS 26.4 25.2 Urban Development 12% 4% Economic Management Environment and Natural 17.9 11% Resources Management 14.6 Trade and Integration 5% 12.7 Social Protection and Risk Financial and Private Sector 6.3 6.3 Management 10% 13% Development 5.3 3.9 3.0 1.6 Social Development, Gender, n.a. and Inclusion 4% IDA14 FY06–08 IDA15 FY09–11 IDA16 FY12–14 14% Human Development IDA internal resourcesa Donor compensation for MDRI debt forgiveness Rural Development 15% IBRD and IFC transfers Donor contributionsb Note: n.a. = not applicable. Data reflects final agreed replenishment reports and exchange rates used during the Rule of Law <1% 11% Public Sector Governance replenishment discussions. a. IDA internal resources include principal repayments, charges, and investment income. b. Net of structural financing gap. 18 19 The World Bank Annual Report 2012 OPERATIONAL SUMMARY | FISCAL 2012 MILLIONS OF DOLLARS IBRD FY08 FY09 FY10 FY11 FY12 Commitments 13,468 32,911 44,197 26,737 20,582 Of which development policy lending 3,967 15,532 20,588 9,524 10,333 Gross disbursements 10,490 18,565 28,855 21,879 19,777 Of which development policy lending 3,485 9,138 17,425 10,582 9,052 Principal repayments (including prepayments) 12,610 10,217 11,624 13,885 11,970 Net disbursements (2,120) 8,347 17,231 7,994 7,806 Loans outstanding 99,050 105,698 120,103 132,459 136,325 Undisbursed loans 38,176 51,125 63,574 64,435 62,916 Operating incomea 2,271 572 800 1,023 783 Usable capital and reserves 36,888 36,328 36,106 38,689 37,636 Equity-to-loans ratio 38% 34% 29% 29% 27% a. Reported in IBRD’s financial statements as “Income before fair value adjustment on non-trading portfolios, net and Board of Governors–approved transfers��?. IDA FY08 FY09 FY10 FY11 FY12 Commitments 11,235 14,041a 14,550 16,269 14,753 Of which development policy lending 2,672 2,820 2,370 2,032 1,827 Gross disbursements 9,160 9,219 11,460 10,282 11,061 Of which development policy lending 2,813 1,872 3,228 1,944 2,092 Principal repayments (including prepayments) 2,182 2,209 2,349 2,501 4,023 Net disbursements 6,978 7,010 9,111 7,781 7,037 Credits outstanding 113,542 112,894 113,474 125,287 123,576 Undisbursed credits 27,539 29,903 30,696 38,059 37,144 Undisbursed grants 5,522 5,652 5,837 6,830 6,161 Development grant expenses 3,151 2,575 2,583 2,793 2,062 a. Includes a HIPC grant of $45.5 million for Côte d’Ivoire. 20 21 The World Bank Annual Report 2012 WORLD BANK LENDING BY THEME AND SECTOR | FISCAL 2007–12 MILLIONS OF DOLLARS THEME FY07 FY08 FY09 FY10 FY11 FY12 Economic Management 248 397 2,305 3,950 655 1,293 Environmental and Natural Resource Management 2,017 2,662 5,085 4,337 6,102 3,997 Financial and Private Sector Development 4,261 6,156 9,695 17,726 7,981 4,743 Human Development 4,089 2,281 6,379 8,421 4,228 4,961 Public Sector Governance 3,390 4,347 6,108 5,750 4,518 4,035 Rule of Law 424 304 16 207 169 126 Rural Development 3,176 2,277 4,299 5,004 5,636 5,443 Social Development, Gender, and Inclusion 1,250 1,003 813 952 908 1,247 Social Protection and Risk Management 1,648 882 5,296 5,006 5,691 3,502 Trade and Integration 1,570 1,393 3,444 1,818 2,604 1,872 Urban Development 2,623 3,001 3,467 5,575 4,514 4,118 THEME TOTAL 24,696 24,702 46,906 58,747 43,006 35,335 SECTOR FY07 FY08 FY09 FY10 FY11 FY12 Agriculture, Fishing, and Forestry 1,717 1,361 3,400 2,618 2,128 3,134 Education 2,022 1,927 3,445 4,945 1,733 2,959 Energy and Mining 1,784 4,180 6,267 9,925 5,807 5,000 Finance 1,614 1,541 4,236 9,137 897 1,764 Health and Other Social Services 2,752 1,608 6,305 6,792 6,707 4,190 Industry and Trade 1,181 1,544 2,806 1,251 2,167 1,352 Information and Communications 149 57 329 146 640 158 Public Administration, Law, and Justice 5,468 5,296 9,492 10,828 9,673 8,728 Transportation 4,949 4,830 6,261 9,002 8,638 4,445 Water, Sanitation, and Flood Protection 3,059 2,360 4,365 4,103 4,617 3,605 SECTOR TOTAL 24,696 24,702 46,906 58,747 43,006 35,335 Of which IBRD 12,829 13,468 32,911 44,197 26,737 20,582 Of which IDA 11,867 11,235 13,995 14,550 16,269 14,753 Note: Numbers may not add to totals because of rounding. Fiscal 2009 IDA lending excludes HIPC grants totaling $45.5 million. 22 23 The World Bank © 2012 The International Bank The World Bank for Reconstruction and Annual Report 2012 Team Development | The World Bank 1818 H Street NW, Washington, DC 20433 The World Bank Annual Report 2012 Telephone: 202-473-1000 Office of the Publisher, External Affairs Internet: www.worldbank.org Team Leader and Editor Some rights reserved Cathy Lips 1 2 3 4 15 14 13 12 Assistant Editor This work is a product of the staff of The World Daniel Nikolits Bank. Note that The World Bank does not necessarily own each component of the content Editorial Production included in the work. The World Bank therefore Susan Graham does not warrant that the use of the content contained in the work will not infringe on the Print Production rights of third parties. The risk of claims resulting Denise Bergeron from such infringement rests solely with you. Design, Typesetting, and Printing The boundaries, colors, denominations, and The World Bank Annual Report 2012 was typeset other information shown on any map in this work by Hank Isaac and BMWW. Cover and interior do not imply any judgment on the part of The design by Hank Isaac of River Rock Creative. World Bank concerning the legal status of any Printed in Hong Kong SAR, China, by Asia Pacific territory or the endorsement or acceptance of Offset. such boundaries. Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and immunities of The World Bank, The World Bank InfoShop all of which are specifically reserved. The World Bank InfoShop in Washington, DC, is a retail bookstore and resource center offering access to information on World Bank projects Rights and Permissions and programs to the public. The InfoShop carries books from more than 700 publishers, in addition This work is available under the to World Bank Publications. The InfoShop also Creative Commons Attribution hosts several well-known and emerging authors 3.0 Unported license (CC BY at events each month. 3.0) http://creativecommons.org/licenses/by/3.0. Under the Creative Commons Attribution license, Located at the corner of 18th Street and you are free to copy, distribute, transmit, and Pennsylvania Avenue NW adapt this work, including for commercial Washington, DC 20433 purposes, under the following conditions: Monday–Friday, 9:30–5:30 Attribution—Please cite the work as follows: Telephone: 202-458-4500 World Bank. 2012. The World Bank Annual Facsimile: 202-522-1500 Report 2012. Washington, DC: World Bank. DOI: www.worldbank.org/infoshop 10.1596/978-0-8213-9568-4. License: Creative Commons Attribution CC BY 3.0. Translations—If you create a translation of this work, please add the following disclaimer Eco-Audit along with the attribution: This translation was The World Bank is committed to preserving not created by The World Bank and should not be natural resources. The Office of the Publisher has considered an official World Bank translation. The chosen to print The World Bank Annual Report World Bank shall not be liable for any content or 2012 on chlorine-free, FSC-certified paper in error in this translation. accordance with the recommended standards All queries on rights and licenses should for paper usage set by the Green Press Initiative, be addressed to the Office of the Publisher, The a nonprofit program supporting publishers in World Bank, 1818 H Street NW, Washington, DC using fiber that is not sourced from endangered 20433, USA; fax: 202-522-2625; e-mail: pubrights@ forests. For more information, visit: worldbank.org. www.greenpressinitiative.org. ISBN (paper): 978-0-8213-9568-4 ISBN (electronic): 978-0-8213-9737-4 DOI: 10.1596/978-0-8213-9568-4 24 World Bank Regions, Country Offices, and Borrower Eligibility The World Bank today operates out of more than 120 offices worldwide. Increased MIDDLE EAST AND NORTH AFRICA EUROPE AND CENTRAL ASIA presence in client countries is helping the Bank to better understand, work more FY12 New Commitments FY12 New Commitments IBRD | $1,433 million IBRD | $6,233 million effectively with, and provide more timely service to its partners in client countries. IDA | $80 million IDA | $362 million Eighty-eight percent of Country Directors/Country Managers, and 39 percent of Portfolio of Projects | $8.4 billion Portfolio of Projects | $23.0 billion staff, are based in country offices. Countries eligible for IBRD funds only Russian Federation Russian Fed. Countries eligible for a blend of IBRD and IDA funds Poland Belarus Countries eligible for IDA funds only Ukraine Mongolia Inactive IDA-eligible countries Moldova Kazakhstan Romania Georgia Countries not receiving World Bank funds Bulgaria Azerbaijan Uzbekistan Kyrgyz Rep. China Armenia Offices of the World Bank Turkmenistan Tajikistan Rep. of Korea EAST ASIA AND PACIFIC Turkey Offices with the Country Director present Algeria Tunisia Syrian A. R. Iraq Afghanistan FY12 New Commitments Lebanon Islamic World Bank region boundaries Morocco West Bank and Gaza Rep. of Iran Pakistan IBRD | $5,431 million Jordan Nepal Bhutan IDA | $1,197 million Arab Rep. India Libya of Egypt Bangladesh Portfolio of Projects | $30.3 billion Mexico Myanmar Vietnam Haiti Lao P.D.R. Belize Cape Verde Mauritania Philippines Jamaica Sudan Eritrea Rep. of Thailand Honduras Senegal Yemen Guatemala Burkina Mali Faso Cambodia Marshall Islands El Salvador The Gambia Niger Chad Djibouti Nicaragua Federated States of Micronesia Panama Guinea-Bissau Côte Costa Rica R.B. de Guinea d’Ivoire Togo Nigeria Ethiopia Guyana Sierra Leone South Venezuela Suriname Central Sri Lanka Colombia Benin African Sudan Liberia Cameroon Somalia Palau Rep. Malaysia Ghana Maldives Equatorial Guinea Uganda Kiribati Ecuador Gabon São Tomé and Príncipe Rwanda Kenya Rep. of Seychelles Kiribati Dem. Rep. Burundi Congo Solomon of Congo Tanzania Comoros Indonesia Islands Papua LATIN AMERICA AND THE CARIBBEAN Angola Timor-Leste New Guinea Tuvalu Peru FY12 New Commitments Malawi Samoa Brazil Zambia SOUTH ASIA IBRD | $6,181 million Bolivia Madagascar FY12 New Commitments IDA | $448 million Zimbabwe Vanuatu Fiji Fiji Namibia Mauritius IBRD | $1,158 million Portfolio of Projects | $33.2 billion Paraguay Botswana Mozambique IDA | $5,288 million Tonga Swaziland Portfolio of Projects | $37.8 billion Poland Lesotho Dominican South Republic Africa Ukraine Antigua Chile Uruguay and Argentina Barbuda St. Kitts and Nevis Romania AFRICA Dominica Serbia Croatia FY12 New Commitments Bulgaria St. Lucia Bosnia & Herzegovina Kosovo IBRD | $147 million St. Vincent and the Grenadines Montenegro IDA | $7,379 million Grenada Albania FYR Macedonia Portfolio of Projects | $40.2 billion Trinidad and R. B. de Venezuela Tobago IBRD 32613R8 AUGUST 2012 World Bank Mission Statement Our dream is a world free of poverty. To fight poverty with passion and professionalism for lasting results. To help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forging partnerships in the public and private sectors. To be an excellent institution able to attract, excite, and nurture diverse and committed staff with exceptional skills who know how to listen and learn. Our Principles Client centered, working in partnership, accountable for quality results, dedicated to financial integrity and cost-effectiveness, inspired and innovative. Our Values Personal honesty, integrity, commitment; working together in teams—with openness and trust; empowering others and respecting differences; encouraging risk-taking and responsibility; enjoying our work and our families. ISBN 978-0-8213-9568-4 1818 H Street NW Washington, DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: feedback@worldbank.org SKU 19568