Trust Fund Support for Development : An Evaluation of the World Bank's Trust Fund Portfolio
In the changing global environment of development cooperation, trust funds have emerged as a significant pillar of the global aid architecture, used to address limitations in bilateral aid and fill perceived gaps in the operations of existing multi...
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| Format: | Publications & Research |
| Language: | English en_US |
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Washington, DC: World Bank Group
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2011/01/15890252/trust-fund-support-development-evaluation-world-banks-trust-fund-portfolio http://hdl.handle.net/10986/21345 |
| Summary: | In the changing global environment of
development cooperation, trust funds have emerged as a
significant pillar of the global aid architecture, used to
address limitations in bilateral aid and fill perceived gaps
in the operations of existing multilateral institutions.
They currently account for about 11 percent of official
development assistance (ODA), and they finance a substantial
part of the World Bank's business. The activities they
fund are highly varied, ranging from huge global programs
with their own governance structures to conventional
development projects, debt and disaster relief operations,
and technical assistance. This IEG evaluation, undertaken at
the request of World Bank executive directors, assesses the
value of the trust fund vehicle as a way of delivering aid
and the effectiveness and efficiency of the deployment of
trust fund resources. In addition, the evaluation assesses
the Bank's management and accountability for the use of
trust fund resources and the impact of trust funds on the
Bank's development role. The evaluation finds that
donors, recipients, and the World Bank have considerable
overlapping interests in this vehicle, but their interests
may diverge on specific issues such as how trust fund
allocation decisions are made and how trust funds are
governed and managed. Furthermore, while trust funds can add
value by providing coordinated grant financing for specific
countries, development issues, and especially global public
goods, the deployment of trust fund resources does not
consistently work in accordance with the Paris Declaration
aid principles of country ownership and donor coordination.
Notably, many trust funds of global scope involve
insufficient recipient participation and lack clear outcome
objectives. For other trust funds, a three-pillar approach
consisting of country-specific trust funds; global and
regional partnership programs; and multi-donor,
multi-recipient umbrella facilities will allow the Bank to
strengthen the effectiveness, efficiency, and accountability
for results. |
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