Analysis of Recipient Executed Trust Funds
In recent years, bilateral aid channeled through multilateral organizations like the World Bank has become an important vehicle for concessional finance for development. At the end of FY09, the World Bank held US$23.9 billion in trust, an amount th...
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| Format: | Working Paper |
| Language: | English English |
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World Bank, Washington, DC
2017
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| Online Access: | http://hdl.handle.net/10986/27578 |
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okr-10986-275782017-12-14T09:04:10Z Analysis of Recipient Executed Trust Funds Huq, Wahida ACCOUNTING ADVISORY SERVICES AID EFFECTIVENESS ALLOCATION MECHANISM ANNEXES ARREARS ASSISTANCE PROGRAM ASSISTANCE PROGRAMS BANK ACTIVITIES BANK FINANCING BANK LENDING BANK POLICIES CAPACITY BUILDING CAS CASS CONSOLIDATION COUNTRY ASSISTANCE COUNTRY ASSISTANCE STRATEGIES COUNTRY ASSISTANCE STRATEGY COUNTRY PERFORMANCE COUNTRY PROGRAMS CREDITS DEBT DEBT REDUCTION DEBT SERVICE DEBT SERVICING DEVELOPMENT BANK DEVELOPMENT FINANCE DISBURSEMENT DISBURSEMENTS ECONOMIC GROWTH FINANCE CORPORATION FINANCES FINANCIAL ASSISTANCE FINANCIAL CRISIS FINANCIAL INTERMEDIARY FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SUPPORT FINANCING SOURCES FLEXIBLE FINANCING FRAGILE INSTITUTIONS FUNDING SOURCE FUNDING SOURCES GUARANTEE AGENCY HUMAN DEVELOPMENT HUMAN RESOURCES IDA CREDIT IMMUNIZATION INSTITUTIONAL CAPACITY INSTRUMENT INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE JURISDICTION LOAN MONETARY FUND NPL NUTRITION OFFICIAL DEVELOPMENT ASSISTANCE OPERATING COSTS PEOPLES PORTFOLIO PORTFOLIO PERFORMANCE PROMISSORY NOTES PUBLIC ADMINISTRATION RECIPIENT COUNTRIES RECIPIENT COUNTRY RESOURCE ALLOCATION SAFETY NETS SOCIAL DEVELOPMENT SOCIAL SERVICES SPECIAL FINANCING STOCKS TA TECHNICAL ASSISTANCE TITLE TRANSPORT TRUST FUND TRUST FUNDS TRUSTEE In recent years, bilateral aid channeled through multilateral organizations like the World Bank has become an important vehicle for concessional finance for development. At the end of FY09, the World Bank held US$23.9 billion in trust, an amount that has doubled since FY05. While much of the growth reflects the increase in large Financial Intermediary Funds (FIFs), there has also been a rapid increase in Recipient Executed Trust Funds (RETFs). This paper aims to inform internal Bank audiences and stimulate discussion on some selected issues - primarily the growing importance of RETFs as a source of finance and relevance to Bank's country level operations. The report also examines briefly the link between RETF allocations and country performance. The report finds that disbursements of RETFs grew by twenty percent over FY03-FY09. Over this period the trends in regional disbursement shares shifted away from East Asia and Pacific and South Asia Regions to Africa Region. Recipient country concentration is evident: fifty percent of the disbursements have been from six countries - Afghanistan, West Bank and Gaza, Ethiopia, Vietnam, Indonesia and China. RETF disbursements, as a share of the combined International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), and RETF, grew from five percent in FY03 to twelve percent in FY08, while that of IBRD and IDA fluctuated. The bulk of the disbursements from RETF grants were from IDA eligible countries. RETFs appear to have substituted for IDA in fragile and conflict affected states. Disbursements from RETF grants and IDA credits were broadly aligned by sector. There may be some correlation between RETF grants allocation and country performance but the results are not conclusive. The report identifies some areas for further examination: whether RETFs should complement or substitute for Bank operations in specific cases; and whether RETF allocations should be made on the basis of some need or performance based country priorities, outcomes and results. 2017-07-17T19:00:29Z 2017-07-17T19:00:29Z 2010-03 Working Paper http://hdl.handle.net/10986/27578 English en_US CFP Working Paper Series;No. 5 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Working Paper Publications & Research |
| institution |
Open Data Bank |
| collection |
Open Knowledge Repository |
| building |
World Bank |
| language |
English English |
| topic |
ACCOUNTING ADVISORY SERVICES AID EFFECTIVENESS ALLOCATION MECHANISM ANNEXES ARREARS ASSISTANCE PROGRAM ASSISTANCE PROGRAMS BANK ACTIVITIES BANK FINANCING BANK LENDING BANK POLICIES CAPACITY BUILDING CAS CASS CONSOLIDATION COUNTRY ASSISTANCE COUNTRY ASSISTANCE STRATEGIES COUNTRY ASSISTANCE STRATEGY COUNTRY PERFORMANCE COUNTRY PROGRAMS CREDITS DEBT DEBT REDUCTION DEBT SERVICE DEBT SERVICING DEVELOPMENT BANK DEVELOPMENT FINANCE DISBURSEMENT DISBURSEMENTS ECONOMIC GROWTH FINANCE CORPORATION FINANCES FINANCIAL ASSISTANCE FINANCIAL CRISIS FINANCIAL INTERMEDIARY FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SUPPORT FINANCING SOURCES FLEXIBLE FINANCING FRAGILE INSTITUTIONS FUNDING SOURCE FUNDING SOURCES GUARANTEE AGENCY HUMAN DEVELOPMENT HUMAN RESOURCES IDA CREDIT IMMUNIZATION INSTITUTIONAL CAPACITY INSTRUMENT INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE JURISDICTION LOAN MONETARY FUND NPL NUTRITION OFFICIAL DEVELOPMENT ASSISTANCE OPERATING COSTS PEOPLES PORTFOLIO PORTFOLIO PERFORMANCE PROMISSORY NOTES PUBLIC ADMINISTRATION RECIPIENT COUNTRIES RECIPIENT COUNTRY RESOURCE ALLOCATION SAFETY NETS SOCIAL DEVELOPMENT SOCIAL SERVICES SPECIAL FINANCING STOCKS TA TECHNICAL ASSISTANCE TITLE TRANSPORT TRUST FUND TRUST FUNDS TRUSTEE |
| spellingShingle |
ACCOUNTING ADVISORY SERVICES AID EFFECTIVENESS ALLOCATION MECHANISM ANNEXES ARREARS ASSISTANCE PROGRAM ASSISTANCE PROGRAMS BANK ACTIVITIES BANK FINANCING BANK LENDING BANK POLICIES CAPACITY BUILDING CAS CASS CONSOLIDATION COUNTRY ASSISTANCE COUNTRY ASSISTANCE STRATEGIES COUNTRY ASSISTANCE STRATEGY COUNTRY PERFORMANCE COUNTRY PROGRAMS CREDITS DEBT DEBT REDUCTION DEBT SERVICE DEBT SERVICING DEVELOPMENT BANK DEVELOPMENT FINANCE DISBURSEMENT DISBURSEMENTS ECONOMIC GROWTH FINANCE CORPORATION FINANCES FINANCIAL ASSISTANCE FINANCIAL CRISIS FINANCIAL INTERMEDIARY FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SUPPORT FINANCING SOURCES FLEXIBLE FINANCING FRAGILE INSTITUTIONS FUNDING SOURCE FUNDING SOURCES GUARANTEE AGENCY HUMAN DEVELOPMENT HUMAN RESOURCES IDA CREDIT IMMUNIZATION INSTITUTIONAL CAPACITY INSTRUMENT INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE JURISDICTION LOAN MONETARY FUND NPL NUTRITION OFFICIAL DEVELOPMENT ASSISTANCE OPERATING COSTS PEOPLES PORTFOLIO PORTFOLIO PERFORMANCE PROMISSORY NOTES PUBLIC ADMINISTRATION RECIPIENT COUNTRIES RECIPIENT COUNTRY RESOURCE ALLOCATION SAFETY NETS SOCIAL DEVELOPMENT SOCIAL SERVICES SPECIAL FINANCING STOCKS TA TECHNICAL ASSISTANCE TITLE TRANSPORT TRUST FUND TRUST FUNDS TRUSTEE Huq, Wahida Analysis of Recipient Executed Trust Funds |
| relation |
CFP Working Paper Series;No. 5 |
| description |
In recent years, bilateral aid channeled
through multilateral organizations like the World Bank has
become an important vehicle for concessional finance for
development. At the end of FY09, the World Bank held US$23.9
billion in trust, an amount that has doubled since FY05.
While much of the growth reflects the increase in large
Financial Intermediary Funds (FIFs), there has also been a
rapid increase in Recipient Executed Trust Funds (RETFs).
This paper aims to inform internal Bank audiences and
stimulate discussion on some selected issues - primarily the
growing importance of RETFs as a source of finance and
relevance to Bank's country level operations. The
report also examines briefly the link between RETF
allocations and country performance. The report finds that
disbursements of RETFs grew by twenty percent over
FY03-FY09. Over this period the trends in regional
disbursement shares shifted away from East Asia and Pacific
and South Asia Regions to Africa Region. Recipient country
concentration is evident: fifty percent of the disbursements
have been from six countries - Afghanistan, West Bank and
Gaza, Ethiopia, Vietnam, Indonesia and China. RETF
disbursements, as a share of the combined International Bank
for Reconstruction and Development (IBRD), International
Development Association (IDA), and RETF, grew from five
percent in FY03 to twelve percent in FY08, while that of
IBRD and IDA fluctuated. The bulk of the disbursements from
RETF grants were from IDA eligible countries. RETFs appear
to have substituted for IDA in fragile and conflict affected
states. Disbursements from RETF grants and IDA credits were
broadly aligned by sector. There may be some correlation
between RETF grants allocation and country performance but
the results are not conclusive. The report identifies some
areas for further examination: whether RETFs should
complement or substitute for Bank operations in specific
cases; and whether RETF allocations should be made on the
basis of some need or performance based country priorities,
outcomes and results. |
| format |
Working Paper |
| author |
Huq, Wahida |
| author_facet |
Huq, Wahida |
| author_sort |
Huq, Wahida |
| title |
Analysis of Recipient Executed Trust Funds |
| title_short |
Analysis of Recipient Executed Trust Funds |
| title_full |
Analysis of Recipient Executed Trust Funds |
| title_fullStr |
Analysis of Recipient Executed Trust Funds |
| title_full_unstemmed |
Analysis of Recipient Executed Trust Funds |
| title_sort |
analysis of recipient executed trust funds |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://hdl.handle.net/10986/27578 |
| _version_ |
1610830820849745920 |