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Managing Results in anUncertain WorldPublic Disclosure Authorized © 2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington, DC 20433Telephone: 202-473-1000Internet: www.worldbank.org Please cite the report as: World Bank. 2025.Results and Performance of the World Bank Group2024:Managing Results in an Uncertain World.Independent Evaluation Group. World Bank. COVER PHOTOCreated using GPT-3 using the prompt, “The concept is that things work differently for differentgroups. The image should be abstract.” November 15, 2024. EDITING AND PRODUCTIONAmanda O’Brien GRAPHIC DESIGNLuísa Ulhoa This work is a product of the staff of The World Bank with external contributions. The findings,interpretations, and conclusions expressed in this work do not necessarily reflect the views ofThe World Bank, its Board of Executive Directors, or the governments they represent.The World Bank does not guarantee the accuracy of the data included in this work. The bound-aries, colors, denominations, and other information shown on any map in this work do not implyany judgment on the part of The World Bank concerning the legal status of any territory or theendorsement or acceptance of such boundaries. RIGHTS AND PERMISSIONSThe material in this work is subject to copyright. Because The World Bank encourages dissem- ination of its knowledge, this work may be reproduced, in whole or in part, for noncommercialpurposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to WorldBank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax:202-522-2625; e-mail: pubrights@worldbank.org. Results andPerformance of theWorld Bank Group2024 Managing Results in anUncertain World March 7, 2025 Contents Abbreviationsvi Acknowledgmentsvii 1.Introduction���������������������������������������������������������������������������������������������������������������1 Background and Audience1Objectives, Question, Scope, and Use3Methods5Organization of the Report6 2.World Bank����������������������������������������������������������������������������������������������������������������8 Trends11Challenges20Levers27 3.International Finance Corporation��������������������������������������������������������������������������36Investment Projects38Advisory Services57 4.Multilateral Investment Guarantee Agency����������������������������������������������������������68Trends70Challenges73Levers76 5.Country Program�����������������������������������������������������������������������������������������������������79 Trends82Challenges87Levers95 6.Conclusions������������������������������������������������������������������������������������������������������������99 Fragile and Conflict-Affected Situations99Operational Efficiency and Effectiveness: Preparation and Processing Time100 World Bank Group Scorecard101Joint Country Representation102 Bibliography��������������������������������������������������������������������������������������������������������������105 Box O.1.Validation Frameworks and Methodologies of the Independent EvaluationGroupviiiBox 1.1.Relevance ofResults and Performance of the World Bank Group 2024to theBetter Bank Initiatives2Box 1.2.Key Terms and Concepts inResults and Performance of the World BankGroup 20245Box 2.1. Main Performance Ratings in the World Bank10Box 2.2. Delivery Challenges in Operations Taxonomy20Box 5.1.Ratings and Perceptions at the Country Level Analyzed byResults andPerformance of the World Bank Group 202481Box 5.2. Important Conditions for World Bank Group Collaboration93 Figures Figure 2.1. World Bank Project Rating Trend and Coverage12Figure 2.2. Portfolio Composition Shift from FY20 to FY2314Figure 2.3.Gap in Average Project Volume Between Operations in Fragileand Conflict-Affected Situations and in Non–Fragile andConflict-Affected Situations15Figure 2.4. Share of All Lending Projects in Operation15Figure 2.5.Average COVID-19 Exposure Among Projects Closed During FY20–2316Figure 2.6. Distribution of Outcome Ratings by COVID-19 Exposure18Figure 2.7. World Bank Performance Ratings19Figure 2.8.Challenges in Institutional Capacity of Stakeholdersand Project Factors22Figure 2.9.Density Distribution of Project Preparation Days BetweenInitiation and Approval25 Figure 2.10.Correlations Between Project End Systematic OperationsRisk-Rating Tool Rating and Challenges29Figure 2.11.Comparison of Average Systematic OperationsRisk-Rating Tool Ratings30Figure 2.12.Share of Projects with an Objective on Expanding Access to Services33Figure 3.1.Performance Ratings in International Finance CorporationInvestment Projects38Figure 3.2.Trends in Development Outcomes for International FinanceCorporation Investment Projects, Calendar Years 2013–2340Figure 3.3.Development Outcomes by Region, Calendar Years 2013–15Versus 2021–2341Figure 3.4.Share of Proje