73397
    RESULTS AND PERFORMANCE OF THE WORLD BANK GROUP 2012 AND
            WORLD BANK GROUP MANAGEMENT COMMENTS

                              CHAIR’S SUMMING UP ∗

                          Meeting of the Executive Directors

                                    October 23, 2012

       Executive Directors discussed the report entitled “Results and Performance of the
World Bank Group 2012� prepared by the Independent Evaluation Group (IEG) together
with the World Bank Group (WBG) Management Comments.

        Directors welcomed the IEG report’s effort to distill the findings of recent
evaluations in the current global development context.           They also welcomed
Management’s broad agreement with IEG’s overall findings and the steps the WBG is
undertaking to further enhance the impact of its interventions. Directors concurred that
several areas warrant greater attention including enhanced synergies within the WBG;
project quality-at-entry and implementation support; crisis preparedness; sustained
dialogue with clients; and quality of analytical work. They emphasized the importance of
learning from IEG assessments, Management’s self-evaluation, and impact evaluations to
effectively address today’s development challenges.

         Directors noted that the IEG Report provides a balanced picture of the WBG
activities and recognizes the recent achievements of each WBG institution. They
welcomed the assessment that the Bank had responded to the global economic crisis in
2008-09 with speed and volume. They noted Management's efforts to address a
weakening of outcome ratings for investment lending, and emphasized the critical
importance of ensuring quality and results of Bank support to countries. They proposed
finding appropriate ways to report on the results of country engagements and focusing on
selectivity given the flat budget environment. Directors encouraged Management to
accelerate the planned shift towards a results culture in the institution including through
appropriate staff incentives, strengthening implementation and monitoring and evaluation
systems with adequate resources, alignment with the Corporate Scorecard and
modernization agenda, and working towards a “solutions Bank�.

        Directors noted that IFC development outcome was stable overall despite a
challenging operating environment; and MIGA made progress in diversifying its portfolio
and reducing the financial sector concentration of its guarantees. They appreciated that
IFC remained committed to IDA countries and its continued efforts to better mitigate the
higher risks associated with projects in these countries through recent initiatives. They
noted that recent IFC internal evaluations show that development effectiveness ratings for
advisory services have improved consistently over the past few years.

       Directors welcomed the ongoing efforts of IEG and Bank Group management to
prepare joint guidance for assessing country program results. They also underscored the
importance of strengthening the implementation of the Management Action Record.
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This summary is not an approved record.