Cofinancing in Environment and Development : Evidence from the Global Environment Facility

Leveraged cofinancing has emerged as a policy priority among international environment and development agencies. We study the determinants and impacts of cofinancing using a comprehensive data set from the GEF on 3,269 projects from 1991 through 2014, along with detailed ex post evaluations of more...

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Main Authors:	Kotchen, Matthew J., Negi, Neeraj Kumar
Format:	Journal Article
Published:	Published by Oxford University Press on behalf of the World Bank 2020
Subjects:	FOREIGN AID COFINANCING DEVELOPMENT ENVIRONMENT GLOBAL ENVIRONMENT FACILITY FORESTRY ENERGY DEVELOPMENT BANKS
Online Access:	http://hdl.handle.net/10986/34288

id	okr-10986-34288
recordtype	oai_dc
spelling	okr-10986-342882021-05-25T10:54:38Z Cofinancing in Environment and Development : Evidence from the Global Environment Facility Kotchen, Matthew J. Negi, Neeraj Kumar FOREIGN AID COFINANCING DEVELOPMENT ENVIRONMENT GLOBAL ENVIRONMENT FACILITY FORESTRY ENERGY DEVELOPMENT BANKS Leveraged cofinancing has emerged as a policy priority among international environment and development agencies. We study the determinants and impacts of cofinancing using a comprehensive data set from the GEF on 3,269 projects from 1991 through 2014, along with detailed ex post evaluations of more than 650 completed projects. We find that greater emphasis on cofinancing will tend to favor projects that are larger, less global in reach, focused on climate change, in countries with better governance, and led by certain multilateral development banks. A push towards more private sector involvement and loans, rather than grant financing, will tend to encourage projects with similar characteristics. Greater cofinancing results in better ex post evaluations, but projects executed by the private sector tend to achieve lower ratings. The results provide insight into how agencies can promote cofinancing and into how greater emphasis on cofinancing, private sector involvement, and nongrant instruments may implicitly shift environment and development priorities, as well as project outcomes. 2020-08-06T16:52:02Z 2020-08-06T16:52:02Z 2019-02 Journal Article World Bank Economic Review 1564-698X http://hdl.handle.net/10986/34288 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/bync-nd/3.0/igo World Bank Published by Oxford University Press on behalf of the World Bank Publications & Research Publications & Research :: Journal Article
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	FOREIGN AID COFINANCING DEVELOPMENT ENVIRONMENT GLOBAL ENVIRONMENT FACILITY FORESTRY ENERGY DEVELOPMENT BANKS
spellingShingle	FOREIGN AID COFINANCING DEVELOPMENT ENVIRONMENT GLOBAL ENVIRONMENT FACILITY FORESTRY ENERGY DEVELOPMENT BANKS Kotchen, Matthew J. Negi, Neeraj Kumar Cofinancing in Environment and Development : Evidence from the Global Environment Facility
description	Leveraged cofinancing has emerged as a policy priority among international environment and development agencies. We study the determinants and impacts of cofinancing using a comprehensive data set from the GEF on 3,269 projects from 1991 through 2014, along with detailed ex post evaluations of more than 650 completed projects. We find that greater emphasis on cofinancing will tend to favor projects that are larger, less global in reach, focused on climate change, in countries with better governance, and led by certain multilateral development banks. A push towards more private sector involvement and loans, rather than grant financing, will tend to encourage projects with similar characteristics. Greater cofinancing results in better ex post evaluations, but projects executed by the private sector tend to achieve lower ratings. The results provide insight into how agencies can promote cofinancing and into how greater emphasis on cofinancing, private sector involvement, and nongrant instruments may implicitly shift environment and development priorities, as well as project outcomes.
format	Journal Article
author	Kotchen, Matthew J. Negi, Neeraj Kumar
author_facet	Kotchen, Matthew J. Negi, Neeraj Kumar
author_sort	Kotchen, Matthew J.
title	Cofinancing in Environment and Development : Evidence from the Global Environment Facility
title_short	Cofinancing in Environment and Development : Evidence from the Global Environment Facility
title_full	Cofinancing in Environment and Development : Evidence from the Global Environment Facility
title_fullStr	Cofinancing in Environment and Development : Evidence from the Global Environment Facility
title_full_unstemmed	Cofinancing in Environment and Development : Evidence from the Global Environment Facility
title_sort	cofinancing in environment and development : evidence from the global environment facility
publisher	Published by Oxford University Press on behalf of the World Bank
publishDate	2020
url	http://hdl.handle.net/10986/34288
_version_	1764480583133560832

Cofinancing in Environment and Development : Evidence from the Global Environment Facility

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