|
A REPORT
from the Independent Evaluation Group (IEG) within the
World Bank Group concluded that the Bank must become
more effective in issues surrounding income inequality,
corruption, and the preservation and conservation of the
environment in middle-income countries (MICs) like the
Philippines.
The
IEG’s “Development Results in Middle-Income Countries:
An Evaluation of the World Bank’s Support” report said
that while the Bank’s efforts in fostering growth and
reducing poverty has been significant and appreciated by
MICs, more efforts are needed to curb the growing income
inequality, corruption and environmental degradation in
MICs, and among MICs.
There
are 86 MICs who are home to one-third of the world’s
poor. The World Bank has lent $163 billion to MICs since
1995—nearly two-thirds of its total lending to all
developing countries—and allocates about half of its
administrative budget to work with this group.
The
evaluation helps the Bank Group improve its work by
identifying and disseminating the lessons learned from
experience and by framing recommendations drawn from
evaluation findings.
Some of
the recommendations in the latest report also include
producing greater development benefits by becoming more
responsive to countries’ needs.
In the
Philippines, the report stated that the Bank’s
assistance was “ill-matched” when it offered lending
assistance largely through traditional free-standing
investment projects.
“The way
it [the Bank] offered lending did not match the
country’s preference for lending more closely linked to
budget support,” the report stated.
“It [the
Bank] has to become more agile in response to rapidly
changing client needs; draw upon MICs’ own capacity more
systematically; and more clearly demonstrate best
practice to deliver impact beyond the Bank’s limited
direct role,” the report added.
The
report also said that the role of the Bank is important
considering that MICs face rapidly evolving development
challenges brought about by maturing economies and
global economic integration.
As a
group, the 86 MICs account for about one-fifth of world
output, and their per-capita income has grown by almost
4 percent annually since 1995. Yet, they are still home
to one-third of the world’s poorest citizens, living on
less than $2 per day
Of the
total number of people living on less than $2 per day in
the world, China alone accounts for 18 percent while
other MICs combined account for another 14 percent.
In terms
of income per capita, the Philippines is considered a
lower MIC with the second to the lowest income per
capita among MICs. Lower MICs in terms of income per
capita include Brazil, Jamaica, Bulgaria, Thailand,
Peru, Kazakhstan, Jordan, Colombia, Morocco, Arab Rep.
of Egypt, China, and Azerbaijan.
The IEG
is an independent, three-part unit within the World Bank
Group. IEG-World Bank is tasked to evaluate the
activities of the IBRD (The World Bank) and IDA while
the IEG-IFC focuses on assessment of IFC’s work toward
private sector development, and IEG-MIGA evaluates the
contributions of MIGA guarantee projects and services.
IEG reports directly to the Bank’s Board of Directors
through the director-general for evaluation. |
