The "bottom line" for the World Bank is its development
effectiveness. The independent Operations Evaluation Department (OED)
tracks the Bank's development performance, analyzing the
effectiveness of Bank projects, programs, and processes; draws lessons
of operational experience; and provides advice to the Board based on
evaluations at the project, country, sector, and thematic levels. Each
year, evidence from these evaluations is marshaled to produce a summary
report on the Bank's development effectiveness, centered around a
particular development issue. The 2001 Annual Review of Development
Effectiveness: Making Choices (2001 ARDE) presents the latest
independent evaluation results, with a focus on how the Bank and its
clients can make the best selection from the available assistance
instruments.
The latest project evaluation data presented in the 2001 ARDE
confirm a significant improvement in the outcomes of the Bank's
lending performance, especially for FY00 exiting projects. The upward
trend continues into FY01, with solid improvements in sustainability
and institutional development impact as well. Lending is, however, only
one dimension of the Bank's broader assistance toolkit which
includes both financial and nonfinancial instruments. This toolkit has
been adapted and expanded in response to a complex and rapidly changing
development agenda. New lending instruments, analytical tools, and
partnership arrangements have been crafted to address the myriad needs
and preferences of borrowers and to meet the challenge of the
Bank's mission of poverty reduction. As the findings of the 2001
ARDE show, selecting the right combination and sequencing of activities
in a given setting, can make the difference between success and
failure. How these instruments are being put into practice, their
effectiveness and link to country, sector, and thematic results, and
where there is need for improvement are the subject of this review.
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