World Bank: U.S. Interests Supported, but Oversight Needed to Help Ensure Improved Performance
NSIAD-96-212
Published: Sep 26, 1996. Publicly Released: Sep 26, 1996.
Skip to Highlights
Highlights
Pursuant to a congressional request, GAO evaluated the World Bank, focusing on the: (1) Bank's role in enhancing the flow of private investment capital into developing countries; (2) extent to which Bank projects achieve their development objectives; (3) Bank's progress in reforming its operations to improve effectiveness; and (4) extent to which the Bank supports U.S. foreign policy goals.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Department of the Treasury | To ensure that the World Bank reforms have the desired impact, the Secretary of the Treasury should monitor and periodically report to Congress measurable indicators of progress, such as the extent to which: (1) the Bank allocates financing to those countries that make Bank-advocated policy and market reforms; (2) projects substantially achieve policy and market reform objectives; (3) project design problems decrease; and (4) implementation problems are identified and resolved early in the project cycle. If the indicators do not show satisfactory progress, the Secretary should report on the actions being taken by the Department to improve progress. |
Closed – Implemented
The Bank has developed indicators of project and country portfolio performance and appears to be employing these indicators for decisionmaking purposes. However, the Treasury has not yet reported to Congress as GAO recommended. The Treasury has indicated that the Department's next annual report to Congress on the activities of the U.S. National Advisory Council on International Monetary and Financial Policies will include information that responds to this recommendation.
|
Full Report
Office of Public Affairs
Topics
Bank managementDeveloping countriesEconomic growthEconomic policiesForeign economic assistanceForeign loansForeign policiesInternational economic relationsInternational organizationsLending institutions