【行业研报】世界银行-国际金融公司平台方法：大规模应对发展挑战——独立评估（方法文件）（英）-202.docx

《【行业研报】世界银行-国际金融公司平台方法：大规模应对发展挑战——独立评估（方法文件）（英）-202.docx》由会员分享，可在线阅读，更多相关《【行业研报】世界银行-国际金融公司平台方法：大规模应对发展挑战——独立评估（方法文件）（英）-202.docx（32页珍藏版）》请在第一文库网上搜索。

1、Pzoua1soosQo=qndPaZ一一0namsoosQo=qndFGIwor1dbankgroupWfcM二IMIGAApproachPaperInternationa1FinanceCorporationP1atformsApproach:AddressingDeve1opmentCha11engesatSca1eAnIndependentEva1uationJu1y28,20231. BackgroundandContext1.1 Recurringdeve1opmentcha11engesandnewcompoundingcrisesaffectingc1ientcountries

2、andfirmsconstraintheambitionoftheInternationa1FinanceCorporation(IFC)tocontributetoattainmentoftheSustainab1eDeve1opmentGoa1s(SDGs)by2030.Therecurringcha11enges,inc1udinginsufficientprivatesectorparticipationindeve1opmentfinancing,1continuetoaffectemergingmarketsanddeve1opingeconomiesandthefirmswith

3、inthem.Theyjeopardizesevera1SDGs.Interre1atedandcompoundingcrises(suchasCOVID-19,theenergycrisis,andthefoodcrisis)makeprivatesectorparticipationineconomicdeve1opmentandachievingtheSDGsevenmorecha11enging.1.2 Twore1atedinitiativestheIFCcapita1increaseandtheIFC3.0strategyunderpinIFCsgoa1tocontributeto

4、theSDGsby2030.AspartofitsUS$5.5bi11ioncapita1increasepackagecommitments(Wor1dBankGroup2018a,2018b),IFCisexpectedtodoub1eitsown-account1ending,trip1eits1endinginpoorcountriesandthemostfragi1eandconf1ict-affectedcountries,andgrowitsinvestmentsinInternationa1Deve1opmentAssociation(IDA)countriesbyfivefo

5、1d.IFCzscapita1increasepackagewasbasedontheIFC3.0strategy,whichrequirescreatingnewmarketsthroughadvisoryandupstreamservicesandmobi1izingprivatecapita1fromnewsourcesandthroughnewapproaches(IFC2017,2018,2023a).ThetwoinitiativesrequireIFCactionsthatcantrip1ethenumberofinvestmentservicesprojectsby2030(f

6、romapproximate1y300projectsperyeartoanestimated900projectsperyear)withoutincreasingIFCsrea1budget.1.3 IFChasintroducedap1atformsapproachtosca1eupitsinterventionsinaccordancewithIFC3.0andthecapita1increaseobjectives.IFCdefinesp1atformsasthematicinterventionsataregiona1,g1oba1,orsectora11eve1designedt

7、oaddressaspecificdeve1opmentcha11enge(IFC2023b).Subprojectsundereachp1atformhavec1ear1ydefinede1igibi1itycriteriaandmayusearangeofIFCproducts(forexamp1e,1oans,equity,andadvisoryservices)totack1ethesethematicinterventions.P1atformsmaybenefitfromde1egationofauthorityinfu11orinpart,ortheymayhavenode1eg

8、ationofauthorityfromtheBoard.Thep1atformsapproachisintendedtohe1pachieveIFCscapita1increasetargetsandaddressdeve1opmentcha11engesatsca1ebyapp1yingitsresourcesmoreefficient1ywhi1emaintaininganeffectiverisk-returnprofi1eandreportingstructure.AtthetimeofthisApproachPaper,IFChascreatedandismanagingseven

9、activep1atformsthatwereapprovedbetweenfisca1year(FY)17andFY22(theeva1uationperiod):2 FY17IFCStartupCata1yst(ISC)andPrivateEquityCo-Investmentprograms FY18Sma111oanGuaranteeProgram FY19Coted,IvoireHousingProgram3 FY20-Fast-TrackCOVID-19Faci1ity FY21G1oba1Hea1thP1atform(GHP)andtheBaseofthePyramid(BOP)

10、Program1.4 Thep1atformsapproachhasfourkeyfeatures:(i)de1egatedauthorityfromtheBoardtoIFCmanagement,(ii)projectapprova1sonanabsenceofobjectionbasis(AOB)z(iii)IFCmonitoringandreportingtotheBoard,and(iv)se1f-eva1uationandindependenteva1uation.Oneormoreofthesefeaturesmayapp1ytoeachp1atform,buttheydonota

11、11havetobepresent.Thefirstfeature,de1egatedauthority,4invo1vestheBoardde1egatingtoIFCmanagementtheabi1itytoapproveprojectsthatwou1dotherwisebewithintheBoardspurview,expeditingtheapprova1process.P1atformsinitiatedduringtheCOVID-19crisis(2023-22)tendtohavede1egatedauthorityforgroupsofprojectsunderacom

12、monumbre11a,suchascountry(forexamp1e,CotedzIvoire),sector(forexamp1e,hea1thorfinancia1institutions),ortheme(forexamp1e,digita1techno1ogies).Second,thep1atformsapproachmaya11owIFCmanagementtosubmitindividua1projectstotheBoardonanAOBusingashort-formBoardpaper.Thisapp1ies,forexamp1e,totheGHP.Third,moni

13、toringandreporting,forexamp1ethroughIFCOperationsReportstotheBoard,isanimportantfeaturetoa11owtheBoardtotrackprogressonp1atformsimp1ementation,particu1ar1ywhende1egatedauthorityandprojectapprova1onanAOBapp1y.Fina11y,independenteva1uationsofp1atformsbytheIndependentEva1uationGroup(IEG)andGroupInterna

14、1Audit(GIA)areimportanttoassesscomp1ianceandsupport1earningbyIFCmanagementandoperationsteams.1.5 IFCneedstotakeintoaccounttheBoardsandc1ientsexpectationswhendesigningp1atforms.TheBoard,representingIFCsshareho1ders,expectstomaintainoversightandgovernanceoverIFCp1atforms(forexamp1e,throughhigh-qua1ity

15、andsystematicreporting).TheBoarda1soexpectsIFCtousep1atformstotakeadequateriskstoenternewandriskiermarketstosupportprivatefirms.C1ientsexpectIFCtoconductbusinessandmakedecisionsfasterwhi1eincreasingaccesstofinanceandexp1oringnewavenuestochanne1finance(suchasdigita1financia1intermediaries,ear1y-stage

16、investing,andventurecapita1).2. Purpose,Objectives,andAudienceoftheEva1uation2.1 Themainpurposeoftheeva1uationistoassesswhetherthep1atformsapproachoffersIFCameanstoachieveitscapita1increaseandIFC3.0objectiveswhi1emeetingtheBoardsandc1ientsexpectations.Wewi11assessIFCsp1atformsapproachbyfocusingonitsfourkeyfeatures:de1egatedauthority,approva1sonanAOBzmonitoringandreporting,andse1f-eva1uationsandindependenteva1uations.Wefo