A new instrument to advance development effectiveness: program-for-results financing
Canagarajah, Sudharshan | Paliu, Anca | Dumitru, Ionut | Brownbridge, Martin
Program-for-Results is a new instrument designed to enable the Bank to better respond to changing development needs, meet demand from client countries, and enhance development effectiveness. It links disbursements to achievement of results that are tangible, transparent, and verifiable. By directly supporting government programs, Program-for-Results will help countries strengthen institutions, build capacity, and enhance partnerships with stakeholders to achieve lasting impact. Designed to accommodate a broad range of countries, sectors, and programs, Program-for-Results will also enable the Bank to leverage its own financing and partner with other development organizations in supporting country programs. This paper describes the instrument and requests approval by the Executive Directors that will allow Management to roll it out.
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