IFC’s international development goals
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Nigel Twose, director of the IFC-IDA Secretariat
- Testing of ‘international development goals’ (IDGs) extended from one to two years, will go live in 2012 – after initial review must be approved by EDs
- There will be a small number of goals
- IDGs will apply to all three arms of IFC
- Each goal will have numeric targets at outcome level
- Goals should be useful as input to decision making process
- IDGs have become highly politicised
- Implementation of IDGs should not increase the cost or time burden
- Goals must meet priorities of client countries
- Risk that IDGs will take precedence over other IFC projects
- Focus is on economic growth with subsidiary effect of poverty reduction
- Jobs issue is first among equals. It is possible to have an IDG on economic growth.
- FIs are not good at tracking development and gender issues.
- IFC works primarily on vanguard projects; success is measured by number of firms that follow lead
- IDG methodologies: incremental reach; expected reach subject to ex-post validation; attribution; Asset Management Company investments and syndication treated like IS
Five questions for the testing period:
- are these the right goals?
- appropriate numerical target
- appropriate methodologies
- systems
- reporting
