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A Guide to the World Bank
Document (for investment lending) or the Program Document (for development policy lending), along with other financial and legal documents, for submission to the Bank’s Board of Executive Directors for consideration and approval. When funding approval is obtained, the conditions for effectiveness are met, and the legal documents are accepted and signed, the implementation phase begins. Project documentation at this stage includes the following: n Project Appraisal Document n Program Document n Loan and credit documents
Project Implementation The borrower government implements the development project with funds from the World Bank. With technical assistance and support from the Bank’s team, the implementing government agency prepares the specifications for the project and carries out all procurement of goods, works, and services needed, as well as any environmental and social impact mitigation set out in the agreed-on plans. Financial management and procurement specialists on the Bank’s project team ensure that adequate fiduciary controls on the use of project funds are in place. All components at this phase are ready, but project delays and unexpected events can sometimes prompt the restructuring of project objectives. Once the project is under way, the implementing government agency reports regularly on the project’s activities. The government and the Bank also join forces and prepare a midterm review of the project’s progress. In addition, the World Bank’s Report on the Status of Projects in Execution, which is a brief summary of all Bank-funded projects active at the end of each fiscal year, is available to the public. As projects close during the fiscal year, they are removed from this report, because their individual Implementation Completion and Results Reports are publicly disclosed at that time. The government and the Bank monitor the project’s progress, outcomes, and effects on beneficiaries throughout the implementation phase to obtain data for evaluating and measuring the ultimate effectiveness of the operation and the project in terms of results. Project documentation at this stage includes the following: n Report on the Status of Projects in Execution