Table of Contents -- Abbreviations -- Acknowledgments -- Foreword -- Executive Summary -- Management Response -- Chairman's Summary: Committee on Development Effectiveness (CODE) -- PART I: Activities and Results -- 1. Results and Performance -- Unprecedented Change at the World Bank Group -- Rationale for a Review of the Whole World Bank Group -- Current Trends-A Year Dominated by Crisis -- Results and Performance -- 2. Management Follow-Up to IEG Recommendations -- Overview of the IEG Follow-Up Processes/Systems -- Adoption, Implementation, and Historic Analysis -- Selected International Practices on Recommendation Follow-Up -- Conclusion -- PART II: Selected Issues Related to Results -- 3. World Bank: Decentralization and Outcomes -- Context -- Findings -- Conclusions -- 4. IFC: Key Factors Affecting Performance -- IFC Development Impact: Factoring in Project Risks -- A Review of IFC's Work Quality at Entry -- Looking Ahead -- Summary -- 5. MIGA: Development Outcome and Quality of Underwriting -- Development Outcome -- Quality of Underwriting -- Summary -- Appendixes -- A IEG Evaluation Frameworks -- B Recent Trends in World Bank Project Performance -- C Follow-Up to Evaluation in Other Institutions -- D Further Details of Regression Analysis-World Bank Decentralization -- E IFC Supplemental Data Tables -- F Risk-Adjusted Expected Development Outcomes at IFC -- G IEG-MIGA's Ex Post Project Evaluation Methodology -- H MIGA Guarantee Projects Evaluated for This Report -- Endnotes -- Bibliography -- Boxes -- 1.1 How Well Have Previous Crisis-Related Loans Performed? -- 1.2 IFC's Global Trade Finance Program -- 1.3 Satisfactory and Unsatisfactory Projects -- 1.4 Evaluating the Performance of World Bank Water-Related Projects -- 1.5 IFC Environmental and Social Performance Case Studies: Client Commitment Is Key to Success.

1.6 Attention to Gender Issues Enhances Development Effectiveness -- 1.7 Monitoring AAA Resources -- 2.1 Opportunities for Assessing Effectiveness of Recommendation Follow-Up -- 2.2 IEG Recommendations Consistent with the Direction of IFC's Evolution -- 2.3 Lessons from IEG-IFC's Management Action Tracking Record -- 2.4 Many IEG Recommendations Have Been Taken Up by MIGA -- 2.5 Key IEG Recommendations to Strengthen MIGA's Effectiveness -- 3.1 Decentralization Tensions -- 3.2 Decentralization at IFC -- 4.1 External and Internal Factors Affecting IFC Development Outcomes -- 4.2 Examples of Observed Additionalities and Gaps in Achievement -- 5.1 Analyzing Project Financial Viability Is Key to Underwriting Quality -- 5.2 Quality of Underwriting: Assessing Banks' Environment and Social Management Systems -- Figures -- 1.1 New Commitments, Investments, and Guarantees at the World Bank, IFC, and MIGA-Present and Past Crises -- 1.2 World Bank and IFC: Precrisis, Crisis, and Postcrisis New Commitments -- 1.3 New World Bank and IFC Commitments and MIGA Guarantees to IDA Countries and Africa -- 1.4 World Bank: Policy-Based Lending, Investment, and Financial Intermediary Lending -- 1.5 IFC Net Commitments by Instrument, 2000-09 -- 1.6 Performance Ratings across the World Bank, IFC, and MIGA -- 1.7 IFC Investment Outcomes -- 1.8 Development Outcomes and IFC Investment Outcomes Correlated (2007-09) -- 1.9 World Bank Project Performance (1993-2009) -- 1.10 World Bank DPLs and Investment Lending Outcomes (Fiscal 1993-2009) -- 1.11 World Bank versus Borrower Performance (1990-2009) -- 1.12 IFC Environmental and Social Results -- 1.13 IFC Development Outcome Ratings -- 1.14 World Bank and IFC: Expenditures on Advisory Services, Fiscal 2000-09 -- 1.15 Development Effectiveness of IFC Advisory Services -- 2.1 IEG-World Bank Ratings since 2007.

2.2 IEG Average Level of Adoption Ratings over Time (2003-10) -- 2.3 Management Action Tracking Record Ratings since 2004 -- 2.4 Management Action Tracking Record Ratings for Country Evaluations in 2010 -- 3.1 Shares of Field-Based Staff and Country Directors since 2000 -- 3.2 Results Chain for Bank Decentralization -- 4.1 High IFC Work Quality Effects on Business Environments -- 4.2 Loan Reserve Balances versus Development Outcome Ratings -- 4.3 Project Risk versus Sponsor and Market Risk -- 4.4 Overall Work Quality versus Supervision Quality -- 4.5 Role of Client Contributions to Development Effectiveness Ratings in Advisory Services Projects -- 4.6 IFC Additionality by Type: Financial/Nonfinancial -- 4.7 Advisory Service Projects Linked to Investments versus Those with No Linkages -- 5.1 Project Development Outcome Ratings in Both Clusters -- 5.2 MIGA's Quality of Underwriting in Both Clusters -- 5.3 Quality of Underwriting and Development Outcome -- Tables -- MR.1 IEG Ratings of IBRD- and IDA-Sponsored Operations at Exit -- 2.1 Comparison of IEG Management Action Tracking Systems -- 3.1 Effects of Field-Based Task Team Leaders on Operations Design, Supervision, and Partnerships -- 3.2 Field-Based Operations Outcomes versus Those Based in Headquarters -- 3.3 Determinants of the Location of Task Team Leader at Closing -- 3.4 Determinants of IEG Outcomes -- 3.5 Country Program Outcomes When Director Is In-Country versus at Headquarters -- 3.6 Importance of Location of Team Leader by Regions -- 3.7 Importance of Location of the Team Leader in "Scattered Site" Projects.