Turkey - Economic Reform Loan Project
S.N.
The project outcome is satisfactory, sustainability likely, and the institutional development impact is substantial; in addition, both performances by the Bank and Borrower are rated satisfactory. Lessons however point at issues that should be taken into consideration. Regarding the pre-qualification of tenders for the sale of electricity distribution companies, critical steps prior to the procurement process should have been taken, specifically, the sale should have been clearly defined, as well as the corporate structure of the distribution companies. In terms of market issues, the condition for the sale of 20 percent of TT, was not accompanied by the transfer of any management control, a situation not in compliance with market expectations. Reforms in all of the policy areas encompassed by the project were controversial and involved large and difficult constituencies. Areas where the greatest progress was achieved-agriculture, privatization, fiscal reform and macroeconomic performance-were areas where the Bank identified a long-term agenda for the government, and then played a support role. A high Bank profile in the reform process would not have been effective. Indeed, an effective public communications strategy could have facilitated reform: such a strategy could have helped the government develop greater credibility to deal with interest groups.
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