About Projects

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How The Project Cycle Works :

Country Assistance Strategy : The Bank proposes financial, advisory and technical services to help countries identify their priorities and reach their main development goals.

Identification : Ideas for creating meaningful change are discussed. Borrower and Bank representatives weigh development objectives and project impacts, risks, alternatives and timetable.

Preparation, Appraisal and Board Approval : With advice and financial assistance from the Bank, the Borrower conducts studies and prepares detailed project documentation. The Bank assesses the economic, technical, institutional, financial, environmental and social aspects of the project. When the Bank and the Borrower agree on the terms of a loan or credit, the project is presented to the Bank's Board of Executive Directors for approval.

Implementation and Supervision : The Borrower implements the project, issuing contracts through a competitive bidding process that follows the Bank's procurement guidelines.

Implementation and Completion : At the end of the loan or credit disbursement period (anywhere from 1-10 years), a completion report identifying project results, problems and lessons learned is submitted by operation staff to the Bank's Board of Executive Directors for information purposes.

Evaluation : After a Borrower completes a project, the Bank's Independent Evaluation Group (IEG) measures the outcome against original objectives and assesses whether or not the projects results can be maintained over the long term. A number of projects are further scrutinized in detailed impact evaluation reports.