Figure 2.12
A. By Business Line—Percent with High Development Effectiveness Rating
B.Three-Year Average—Percent with High Rating in Evaluation Dimension 100
80
80 58
60
55
Percent
46
40 20
40
64
59
39
20
A2F IC (n = 61) (n = 43)
PPP (n = 28)
0
SBA (n = 82)
ct
0
60
58
80
79
i ra (n ven te = gi 21 ess c r 4) O ut ( ele pu n va t a = 2 nc O ch 75 e ut ie ) co m (n vem e = e ac 2 n h 7 t Im pa ( ieve 5) n ct = m ac 2 en hi 24 t e (n vem) IF = en C 11 t ro E ffi 1) le an (n cie d = nc co 25 y nt 0) r (n ibu = tio 27 n 5)
Percent
69
75
D
ev
el
op
m
en
te
ffe
Business line
St
100
IFC Advisory Services Success Rates (FY2008–10)
Dimension of evaluation Source: IEG data. Note: A2F = Access to Finance; IC = Investment Climate; PPP = Public-Private Partnership; SBA = Sustainable Business Advisory.
The quality of MIGA’s underwriting and monitoring has shown some improvement, but shortcomings remain. Overall, 38 percent of evaluated MIGA projects were rated satisfactory or higher for the quality of their underwriting, assessment, and monitoring. MIGA improved in the following areas: more comprehensive assessment of project risks, including political, commercial, and reputational risks; more attention paid to the assessment of the project’s financial viability and economic sustainability, including economic distortions; systematic assessment of environmental and social aspects of projects, now including financial sector projects; more detailed analysis of sector issues in projects; and more examples of following up on environmental and social requirements specified in the contract of guarantee. Conversely, common shortcomings identified in MIGA self-evaluations and IEG evaluations include inadequate analysis of development risks, including business viability and project sustainability risks; insufficient follow-up on requirements related to environmental and social documentation and monitoring reports and failure to keep abreast of relevant project-specific issues throughout the duration of the guarantee; missing files of key project documents and requirements relevant to the risks covered; lack of consideration of sustainability risks in PPPs and of
World Bank Group Operations: Findings from Evaluation Work
37