Development Marketplace

For more than 15 years, the World Bank Group's Development Marketplace (DM) has identified innovative social entrepreneurs who tackle service delivery bottlenecks that disproportionately affect the world's poorest populations. Originally a competitive grants program, the DM has evolved into a multi-faceted, consultative program that identifies these entrepreneurs and analyzes their specific needs to provide capacity development and technical assistance. The DM aims to map these innovative solutions to identify quickly and efficiently service delivery problems that exist around the world and to provide the most effective solution possible. Since its inception in 1998, the DM has awarded more than $65 million in grants to more than 1,200 innovative projects.

Development Policy Operations

Development Policy Operations provide direct budget support to governments for policy and institutional reforms aimed at achieving a set of specific development results. These operations provide rapid financial assistance to allow countries to deal with actual or anticipated development financing requirements. The operations are supportive of, and consistent with, the country's economic and sectoral policies and institutions aimed at accelerated sustainable growth and efficient resource allocation. They typically support a program of policy and institutional actions, for example, to improve the investment climate, diversify the economy, create employment, and meet applicable international commitments. Any investment financing subcomponent included in a development policy operation is subject to the relevant operational policies for investment financing.

Development policy operations are delivered as a series of annual loans, credits, or guarantees to support a government's medium-term program of policy reforms. Lending funds from each operation are disbursed against (or raised after, in the case of guarantee operations) the achievement of a mutually agreed set of policy and institutional actions. In low-income countries where a national poverty reduction strategy has been adopted by the government and where a development policy series supports implementation of that strategy, development policy operations may also be called poverty reduction support credits.

The World Bank's policy for Development Policy Lending (DPL) was updated in February 2012 to provide a unified framework for all development policy operations. It is a single lending instrument, leaving room for customizing content and design to country circumstances.

DPL aims to help a borrower achieve sustainable reductions in poverty through a program of policy and institutional actions that promote growth and enhance the well-being and increase the incomes of poor people. Every three years, the World Bank reviews its use of Development Policy Lending. The "2012 Development Policy Lending Retrospective" was the third such retrospective since Development Policy Operations was introduced in 2004. It covers 221 development policy operations approved by the Board between 2009 and 2012.

< Prev   CONTENTS   Next >