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The World Bank Group 2005 Trust Funds Annual Report

By The World Bank

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Book Id: WPLBN0000189440
Format Type: PDF eBook
File Size: 0.4 MB
Reproduction Date: 2005
Full Text

Title: The World Bank Group 2005 Trust Funds Annual Report  
Author: The World Bank
Volume:
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Historic
Publication Date:
Publisher: The World Bank

Citation

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Bank, T. W. (n.d.). The World Bank Group 2005 Trust Funds Annual Report. Retrieved from http://members.worldlibrary.net/


Description
Economics

Excerpt
In recent years the World Bank has taken on greatly expanded responsibilities as a manager of development finance, well beyond the resources provided through IBRD loans and IDA credits and grants. Donor partners have asked the Bank to manage their funds for a variety of purposes, in support of both country-level and global development initiatives. What began as a modest extension of the Bank?s lending role has evolved into a major responsibility of the Bank to its development partners, encompassing policy, fiduciary and implementation elements, under the general rubric of trust funds. Total funds held in trust by the Bank continued to grow during fiscal year 2005, with new contributions of $4.75 billion and disbursements of $4.13 billion. This growth reflected donors? continuing desire for the Bank to bring its management, technical and administrative expertise to bear on both global initiatives and country-specific challenges. Examples of the former from the past year include two new carbon funds and new global programs, including for Output-based Aid and for Disability and Development. New country-based funds included cofinancing for poverty reduction strategies in Vietnam, the Post- Tsunami Fund for Aceh and North Sumatra, and the Sudan Post-Conflict Multi-Donor Trust Funds. Looking forward, we expect to see continuing growth in the scale and diversity of such funds, as they support broader harmonization and alignment efforts. There have also been important new financing proposals, such as for donor-backed market instruments, and levies or taxes for development, in which the Bank is playing a role. The Bank?s role as partner and fiduciary therefore is likely to evolve in significant ways beyond the trust fund experience to date. We will continue to refine our administrative policies and procedures to ensure such funds contribute to the Bank Group?s overall mission and do so effectively and efficiently. This report is the second annual account of the breadth and diversity of these financing partnerships that help in addressing critical development issues.

 

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