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![handle is hein.gao/gaobaaxlx0001 and id is 1 raw text is:
DOCUMlENT ]RE-SUBE
06281 - 1'B15866031
Effectiveness of the Woj-ld Bank's Independent fieview aad
Evaluation System. ID-78-14; 8-161470. June 5, 1978. 3C pp. + 3
appendices (10 pp.).
Report to the Congress; by Elmer B. Staats, Ccaptzcller Generdl.
Issue Area: International Economic ard Military Programs: U.S.
Participation in Activities of International Organizations
(609).
Contact: International Div.
Budqet Function: Intarnaticnal Affairs: International Financial
Proqrams (155).
Organization Concerned: Department of the Treasury;
International Bank for Reccnstructicn and Development.
Congressional Relevance, House C-nmmittee on International
Relations; Senate Committee on foreign Relaticas; Congress.
Authority: Bretton Woods Aqreezent Act (22 U.S.C. 2EC).
International Finance Corporation Act J22 U.S.C. 282).
International Development Associatioi, Act (22 U.S.C. 284).
Foreiqn Assistance Act of 1961 (22 U.S.C. 229.1(e)). :-175281
(1974).
The International Bank for beconstructicn amd
Development (World Bank) was created in 1945 pximarily to help
finance reconstructior economies devastated by World War II and
fov development of productive facilities where private capital
was not ava iable on reqsonable terms. The Foreign Assistance
Act of 1961 required the President, acting through the U.S.
representative to the World Baak, to propose amd actively seek
establishment of an independent revieb and evaluation system for
the World Bank. Findings/Conclusions: Since the establishment
of an operations evaluation unit in Sept mber 1S70, the Bank has
made considerable progress in developivq an independent review
and evaluation system. The establishment of a Eirectcr-General
position in 1975 was a major step tobard saking Bank operations
aore responsive ti the needs and concerns cf member governments.
A roview of auditing standards and prccedures fcllcued by the
Operations Evaluation Department (OED) disclosed opportunities
for the Bank and OED to strengthen their independeat review
system by furtler refining and juildirg uFcn standaxds and
procedures initiated over the past several years. The Bark's
review system has evolved so tPat nov is ar ojicitune tine to
bring OED's standards, procedures, and practices more in line
with thos, recommended by the Comptrcller General in 1974. The
effectiveness of OED reports would bt enhacced if
recommendations were required when arzcpiate.
Recommendatfons: The Secretary of toe Treasury, through the U.S.
Executive Director of the World Bank, Ehculd urge development of
a time-phased plan for systematically reviewing all Eank
activities and functions and encourage the World Bank's Bcard cf
Directors to establish a standard requiring that reports contain](ViewImageLocal?handle=hein.gao/gaobaaxlx0001&div=1&collection=&method=preview&ext=.png&size=3)