The WBG continues to reposition itself to effectively respond to the ever-changing development challenges that clients face. During the year in focus (FY19), the World Bank realigned senior responsibilities within global practice groups to strengthen links and cooperation between sectoral and regional teams and ensure maximum outcome for clients. IFC has also shifted its focus towards upstream systemic changes that will create markets and opportunities for sustainable private investment. Similarly, MIGA has been working with the Independent Evaluation Group (IEG) to reinforce learning feedback loops by incorporating lessons from evaluations into new projects. Further efforts have been also underway across the Group to improve organizational effectiveness and budget discipline to make more resources available to meet client needs and challenges.Read More >
The overall strong results witnessed across several Tier 3 indicators reflect Group’s effectiveness in achieving results despite room for improvements. Stakeholders and clients continue to favorably rate Group’s effectiveness and knowledge. IEG’s evaluation of country programs, however, linger around 62 percent satisfactory rating primarily driven by weak ratings for challenging environments such as fragile and conflict affected situations (FCS). Outcomes of World Bank operational performance, as evaluated by IEG, continue to improve and has already surpassed the institutional target. IFC has been also taking significant measures to address issues under its control for both investment and advisory services. MIGA's guarantee projects witnessed a steady improving trend in development outcome ratings.
On the global agenda, significant progress has been made towards mainstreaming support to climate co-benefits into the WBG operations. Mobilizing private capital also remain a WBG priority, with efforts underway to increase the amount of private capital mobilized. The World Bank is on track to achieving the target of ensuring that key aspects of the Gender Strategy are reflected in operations to reduce gender gaps and empower women. The quality of M&E of World Bank operations has also improved for a second year in a row, whilst projects continue to better integrate beneficiary feedback into design. The WBG is strengthening its country focus, expanding its global footprint while deepening partnerships to scale up development impact.< Read Less