IEG calls World Bank’s crisis action limited

15 February 2010

A November report by the World Bank’s arms-length Independent Evaluation Group declared that the additional Bank funding made in response to the financial crisis was “sizable yet modest, compared to the fall in private capital flows to emerging and developing economies and to the assistance provided by some other sources.” Confirming NGO analysis (see Update 68), the report showed that disbursements remained flat in financial year 2009. The United Nations’ Education for All: Global Monitoring Report, released in January, also condemned the Bank’s reliance on front-loading as an “elaborate financial reshuffle” that was “neither a sustainable nor a credible response to a systemic crisis.”