IDA: Governance and Operations. July 12, 2011 Antonella Bassani Director, IDA Resource Mobilization Department World Bank

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1 IDA: Governance and Operations Juy 12, 2011 Antonea Bassani Director, IDA Resource Mobiization Department Word Bank

2 Internationa Deveopment Association (IDA) A Fund for the Word s Poorest Countries Layout of Presentation I. Introduction to the Word Bank Group and IDA II. IDA s governance arrangements III.How IDA is funded IV.How IDA resources are aocated V. IDA Operations

3 Introduction to the Word Bank Group and IDA The Word Bank Group (WBG) assists in deveopment by providing:! Financing The WBG offers a wide range of financing instruments and financia products to deveoping countries. These incude oans, credits, grants, guarantees, project financing, and financia risk management.! Knowedge The WBG provides countries with a range of Anaytic and Advisory Activity (AAA) products to support their deveopment needs and to buid capacity.! Partnerships The WBG strives to buid and sustain a goba network of partnerships. These partnerships are committed to addressing deveopment issues that hep focus and everage resources to maximize the deveopment community s effectiveness.

4 IDA is a member of the Word Bank Group The Word Bank Group Internationa Bank for Reconstruction and Deveopment (IBRD) Internationa Deveopment Association (IDA) Internationa Finance Corporation (IFC) Mutiatera Investment Guarantee Agency Internationa Center for the Settement of Investment Disputes Supports midde-income countries Provides oans at AAA terms pus cost spread Funded through bonds, backed by sharehoder capita Supports the word s poorest countries Provides softoans and grants pus debt reief Repenished every 3 years by donors, refows and IBRD and IFC transfers Supports the private sector in deveoping countries Provides oans and equity investments Funded through bonds, backed by sharehoder capita Supports investors in deveoping countries Provides poitica risk insurance Backed by sharehoder capita Offers mediation and arbitration services for investors in deveoping countries

5 What is IDA? The Internationa Deveopment Association IDA was estabished in 1960 as the concessiona financing arm of the Word Bank! IDA s Artices of Agreement had 15 initia signatory countries and initia funding of $917 miion " IDA currenty has 170 member countries, of which 79 are eigibe for IDA resources, and 52 are donors " The Artices of Agreement are registered with the Secretariat of the United Nations! IDA s purposes are to promote economic deveopment, increase productivity, and raise standards of iving in the essdeveoped areas of the word! IDA pursues these purposes through the provision of ong-term funding concessiona oans (or credits ) and grants for high priority deveopment projects

6 What is IDA: Key principes To provide fexibe, un-earmarked resources that are programmed in ine with country priorities To provide a patform to countries that heps coordinate their biatera and mutiatera resources To support country efforts to buid capacity and deveop essentia systems and institutions To promote country capacity to address goba priorities within nationa deveopment programs To everage aid across mutipe sectors To provide safeguards and accountabiity mechanisms that promote good governance To generate and share knowedge on deveopment best practices and resuts across the gobe

7 Internationa Deveopment Association (IDA) A Fund for the Word s Poorest Countries Layout of Presentation I. Introduction to the Word Bank Group and IDA II. IDA s governance arrangements III.How IDA is funded IV.How IDA resources are aocated V. IDA operations

8 IDA s Governance Arrangements IDA s owners are deveoped and deveoping countries. These 170 member countries govern IDA through the Board of Governors and the Board of Executive Directors. Each member is represented on IDA s highest governing body the Board of Governors, which meets twice a year. Members are aso represented on IDA s Board of Executive Directors a resident board, responsibe for the conduct of the genera operations of IDA. The decisions of the Executive Directors are normay made by consensus. IDA s voting rights system has evoved to recognize contributions from donors and aso to preserve the voice of its deveoping country members.

9 IDA s Governance Arrangements cont d IDA repenishes its resources every 3 years we are currenty at the start of the 16th three-year IDA repenishment period (which ends on June 30th, 2014) The Governors of deveoped and deveoping donor countries appoint high-eve representatives to negotiate the terms and voume of a repenishment the IDA Deputies. The 52 IDA Deputies are joined by 10 Borrower Representatives for discussions on how additiona resources wi be aocated and spent The resuting IDA Repenishment Report is approved by the Executive Directors and the Board of Governors IDA foows a country-based mode whereby IDA recipients program their IDA resources in ine with their nationa priorities

10 Internationa Deveopment Association (IDA) A Fund for the Word s Poorest Countries Layout of Presentation I. Introduction to the Word Bank Group and IDA II. IDA s governance arrangements III.How IDA is funded IV.How IDA resources are aocated V. IDA operations

11 How IDA is funded IDA was set up as a revoving fund! The founding countries recognized that the poorest countries coud not borrow resources for their deveopment at market interest rates! A of IDA s assistance thus has a grant eement " Most credits have a 60% grant eement (meaning that ony 40 cents per doar needs to be repaid in NPV terms) " IDA grants have a 100% grant eement! IDA has a strong soidarity eement in that countries that have graduated from IDA are providing repayments ( refows ) and some have aso become donors

12 How IDA is funded (cont d) IDA needs periodic repenishment by donors since its capita base is being constanty eroded A reguar IDA credit (40 years of maturity, incuding 10 years of grace, zero interest) invoves a 60% grant eement Credit repayments ( refows ) revove and compement donor resources Credit repayments finance about ¼ of IDA s disbursements Other members of the Word Bank Group the IBRD and IFC aso contribute a portion of their net income to IDA Debt reief and grants have increased IDA s dependence on future donor contributions Debt reief provided under HIPC and MDRI wi reduce credit refows by $54 biion, owering IDA s assets by about 1/3 rd Grant provided to countries at risk of debt distress (between percent of tota IDA commitments) further owers future credit refows

13 How IDA is funded (cont d) Since inception in 1960, IDA credits and grants have totaed $234 biion ($387 biion in 2010 prices) Tota resources of IDA have grown by 10% per year in nomina terms. In rea terms, tota IDA resources have been about fat since IDA6 IDA16 provides $49.3 biion over the next 3 years Tabe 1. Tota IDA resources in nomina and rea terms

14 How IDA is funded (cont d) IDA16 Donor Contributions by Country Type 34 sma donors provide 5% 11 mid-sized traditiona donors provide 26% G-7 dominates with 69% of tota donor contributions

15 Internationa Deveopment Association (IDA) A Fund for the Word s Poorest Countries Layout of Presentation I. Introduction to the Word Bank Group and IDA II. IDA s governance arrangements III.How IDA is funded IV.How IDA resources are aocated V. IDA operations

16 How IDA s resources are aocated Ony countries meeting IDA s eigibiity criteria can receive IDA aocations! Reative poverty, as measured by the GNI per capita (cutoff for FY12: US$1,175)! Lack of creditworthiness for market-based financing options 79 IDA-eigibe countries in FY11 IDA resources are aocated annuay through a transparent, formuadriven Performance-Based Aocation (PBA) system The PBA provides for arger IDA aocations to countries with better poicy and institutiona outcomes! Consistent with aid effectiveness research findings that better poicies ead to stronger deveopment outcomes Country performance is measured through an annua Country Poicy and Institutiona Assessment (CPIA) as we as portfoio performance

17 How IDA s resources are aocated (cont d) The specific PBA formua has evoved since its introduction in the 1970, in ine with research findings on aid effectiveness and donor priorities Much greater emphasis on governance, which now carries a weight of 68% in the PBA formua! this refects the direct impact of governance on the deveopment performance at the country, program and project eves, as we as donor concern over the integrity of their contributions Athough the system is primariy performance based, country needs are taken into account through:! IDA eigibiity criteria (per capita income beow $1175; ack of creditworthiness)! GNI per capita, popuation! Base (or minimum) aocation to a IDA countries (benefits sma states)! Capping IDA aocations to arge bend countries! Specia aocations to post confict and re-engaging countries! Crisis Response Window Terms of IDA assistance (grants vs. soft oans) is determined by countries risk of debt distress

18 How IDA s resources are aocated (cont d) IDA15: 84% of IDA resources aocated through the PBA system 18

19 How IDA s resources are aocated (cont d) IDA15: 50% of IDA resources went to Sub-Saharan Africa 19

20 Internationa Deveopment Association (IDA) A Fund for the Word s Poorest Countries Layout of Presentation I. Introduction to the Word Bank Group and IDA II. IDA s governance arrangements III.How IDA is funded IV.How IDA resources are aocated V. IDA Operations

21 IDA Operations: Country-Led Strategies IDA countries define their own deveopment objectives and approaches with input from a wide range of stakehoders through the Poverty Reduction Strategy (PRS) process. IDA, with hep from the government and other stakehoders, uses the country-ed strategies to prepare a four-year Country Assistance Strategy (CAS). The CAS is based on an anaysis of country needs and defines a program of ending and non-ending assistance based on:! The country s deveopment priorities, and! The Bank s comparative advantage that is, how the Bank can best everage its capabiities to produce the desired resuts. The CAS aso identifies a resuts-based framework for monitoring the impact of the assistance.

22 IDA Operations: Financia Instruments IDA has three main financia instruments! Investment Operations finance a wide range of activities that create the physica and socia infrastructure necessary to reduce poverty and create sustainabe deveopment. They:! are provided to achieve resuts agreed with the recipient! finance expenditures that are eigibe under Bank poicy; and! are disbursed as the expenditures are incurred! Deveopment Poicy Operations provide rapid assistance to finance poicy and institutiona actions that are consistent with a country s economic and sectora poicies.! DPOs are provided as budget support! IDA Guarantees hep mobiize private sector finance by covering debt service defaut on a oan for a private sector project when the defaut is caused by the government s faiure to meet its obigations under the project agreement

23 IDA Operations: Key Operationa Poicies IDA s work is guided by a set of operationa poicies approved and monitored by Executive Directors. Key poicies incude:! Fiduciary Poicies ensure that funds are used effectivey, efficienty and transparenty for the intended purposes and hep the country buid capacity for sound fiduciary management.! Procurement poicies (to ensure owest price from quaified bidders) for the purchase of goods, works and services.! Financia management poicies to provide assurance on the use of project funding and avoid corruption.! Disbursement management poicies to ensure that funds reach beneficiaries.

24 IDA Operations: Key Operationa Poicies! Safeguard Poicies address the environmenta and socia impacts of Bank operations.! Integrating environmenta and socia issues into decision-making in operations.! Providing toos for countries and Bank staff to assess environmenta and socia impications of projects and mitigate them where needed.! Ensuring transparency and participation by potentiay affected stakehoders on a timey basis.! These and other Bank poicies provide donors and recipients with assurance that funds are used to deiver maximum deveopment resuts.! As such, they are instrumenta for the success of IDA efforts to mobiize resources for the poorest countries.

25 IDA Operations: Managing for Deveopment Resuts IDA supports managing for deveopment resuts through:! Working with governments to deveop their own capacity to manage for resuts! Strengthening IDA own capacity to measure, monitor and report on resuts of IDA-supported programs To strengthen its own capacity IDA has adopted a four-tiered Resuts Monitoring System (RMS):! Tier 1: How is IDA countries progressing on key deveopment indicators?! Tier 2: What is the contribution of IDA supported activities to deveopment?! Tier 3: What is the operationa effectiveness of IDA?! Tier 4: What is the organizationa effectiveness of IDA? Note: A stronger resuts orientation has been a key donor demand in the ast few repenishments as donors seek cear evidence of vaue for money

26 IDA Operations: Impementation Support Key esson earned has been need to provide strong impementation support to address specific country needs and circumstances The Word Bank has offices/staff in 127 countries in 6 regions! IDA has offices in 72 out of 79 IDA countries! IDA s goba reach faciitates generation and sharing of knowedge and goba best practices Increased decentraization over the ast decade with more staff ocated in, and tasks managed from, country offices.! Decentraization came in response to esson earned that a soid country presence is critica to deveopment resuts.! Aso, a strong demand from both IDA recipients and donors.

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