A key element of the World Bank’s support, especially after Mr.
Wolfensohn assumed the presidency, is ensuring that the large amount
of resources devoted to these 1,500 projects in the portfolio is used as
effectively as possible in reaching our shared goals of sustainable eco-
nomic development and poverty alleviation.
The track record of the recent past in this respect leaves something to be
desired. Roughly speaking, at completion, about one-third of the projects
the Bank finances do not measure up to the high standards initially set
for them. Development is a risky business; it involves complex issues. It
takes place in countries where institutions are weak, and it...
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Illustrative financial statements: investment funds 2010
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