Effectiveness Review of DFIDs engagement with the World Bank
This review considered the effectiveness of DFID’s engagement with the World Bank and its influence on the Bank’s activities, in order to maximise impact for intended beneficiaries and value for money for the UK taxpayer.The World Bank comprises the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). Over the last five years, DFID has contributed £5.1 billion to IBRD and IDA. Almost 60% went into the main IDA fund, where money is lent to countries based on their needs and priorities. The remainder went into trust funds, where money is granted for specific projects; the UK has been the largest contributor to World Bank trust funds over the last five years. This review concentrates on IDA and trust funds, to which the UK Government makes cash contributions, rather than on IBRD, which raises the funds for its lending by issuing bonds on capital markets.
This report was prepared by ICAI with the assistance of KPMG LLP, Agulhas Applied Knowledge, Center for Effective Global Action (CEGA) and the Swedish Institute for Public Administration (SIPU International).
Areas of Expertise
- Aid effectiveness
- Performance management and accountability