Contents -- Acknowledgments -- Executive Summary, Résumen, Résumé Analytique -- Acronyms and Abbreviations -- 1 Purpose and Background -- Long Period of Growth Followed by the "Lost Decade" -- 2 World Bank Assistance to Brazil, 1990-02 -- The First Phase (1990-94): Contraction of Lending and Shift to the Social Sectors and the Environment -- The Second Phase (1995-98): Recovery of Lending, Consolidation of the Strategy, Initial Support to Structural Reforms -- The Third Phase (1999-02): Further Expansion of Lending and Shift to Adjustment Lending in Support of Stabilization and Structural Reforms -- 3 Assessment of Bank Products and Services -- Assessment of Analytical and Advisory Services -- Assessment of Lending Services -- Factors that Contributed to Improved Project Performance -- Assessment of the Bank's Role in Aid Coordination -- 4 Assessing the Development Impact of the Bank's Assistance -- Assessing the Relevance and Consistency of the Bank's Strategy -- Assessing the Contribution of the Assistance Program to Poverty Alleviation -- Assessing the Contribution of the Bank's Program to Sustainable Growth -- Assessing the Overall Impact of the Assistance Program -- Assessing the Sustainability of the Positive Outcomes -- Assessing the Bank's Performance -- The Counterfactual and the Bank's Relevance -- 5 Lessons and Recommendations -- Annexes -- A: Reference Tables -- B: Summaries of Sector Evaluations -- C: An Evaluation of MIGA Activities in Brazil, 1994-02 -- D: Government Comments -- E: Management Action Record -- F: Chairman's Summary: Committee on Development Effectiveness (CODE) -- Endnotes -- Bibliography -- Box -- 3.1 Examples of Outstanding ESW -- Figures -- 2.1 World Bank Lending, 1980-01 -- 3.1 Projects at Risk, 1990-02 -- 4.1 Poverty Ratios and Income Growth by Deciles -- 4.2 Selected Education and Health Indicators.

4.3 GDP Growth, 10-Year Moving Averages (% p.a.) and Real Fixed Investment (% of GDP), 1965-01 -- Tables -- 1.1 Selected Economic Indicators, Annual Averages, 1950-02 -- 2.1 Size of World Bank Lending, 1980-01 -- 2.2 Sectoral Composition of Bank Loans, 1980-02 -- 2.3 Sectoral Composition of Bank Loans, 1990-02 -- 3.1 QAG Evaluation of ESW: Share of Satisfactory ESW, 1996-02 -- 3.2 OED Evaluation of Closed Projects: Share of Projects with Satisfactory Outcomes, 1980-02 -- 3.3 QAG Evaluation of Ongoing Projects: Share of Satisfactory Projects, 1996-02 -- 3.4 Average Lending Costs, by Project and Commitment, 1990-02 -- 4.1 Poverty and Social Indicators, 1990-01 -- 4.2 GDP Growth Rates in Brazil and Selected Comparators, 1990-02 -- 4.3 Environmental Indicators, 1980s and 1990s -- 4.4 Brazil's Progress in Meeting the Millennium Development Goals.