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Eligibility of Expenditures in World Bank Financing

By The World Bank

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Book Id: WPLBN0000090548
Format Type: PDF eBook
File Size: 0.2 MB
Reproduction Date: 2005
Full Text

Title: Eligibility of Expenditures in World Bank Financing  
Author: The World Bank
Volume:
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Historic
Publication Date:
Publisher: The World Bank

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Bank, T. W. (n.d.). Eligibility of Expenditures in World Bank Financing. Retrieved from http://members.worldlibrary.net/


Description
Economics

Excerpt
The World Bank is engaged in a broad effort to modernize and realign its operational policies and practices.1 Its aims are to help borrowers achieve the Millennium Development Goals and other development objectives, and to harmonize the Bank?s procedures with those of other donors to better support country capacity and reduce transaction costs. As part of this process, on April 13, 2004, Executive Directors approved changes to the policies that determine the expenditures that the Bank may and may not finance in investment lending.2 The changes were aimed at eliminating a disconnect that had emerged, over time, between the expenditures that borrowers need to incur to achieve their development goals, and those that the Bank could finance under its previous policies. The new policy, set out in Operational Policy (OP) and Bank Procedure (BP) 6.00, Bank Financing, allows the Bank to finance the expenditures that are needed to meet the development objectives of the operations that it supports, within an overall framework that addresses risks to fiscal sustainability and the appropriate use of Bank resources, in the context of specific country conditions.

 

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