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Highlights – Board Meeting of 18 October 2017
The above-mentioned proposal provides a country by country assessment of eligibility for resources in the ADF 14 cycle through the TSF to strengthen the re-engagement and recovery process in eligible countries, thereby enabling them over time to compete or qualify for larger PBA allocations. The Board expressed appreciation for the increase in ADF 14 resources to tackle the economic challenges associated with fragility and noted the steady progress made by certain countries to transit out of fragility. While recognizing the challenges associated with work in the fragile countries, some Chairs raised concerns about the continued use of TSF Pillar 1 resources for countries significantly in arrears. They urged the Bank to do more to enhance resource mobilization and private sector financing and to prioritize regional projects that are likely to promote economic growth. Members also encouraged the Bank to work in collaboration with other development partners to build resilience and institutional capacity in order to enhance transparency and accountability in the management of public sector resources. At the end of the deliberations, the Board approved the eligibility of the 19 countries recommended in the appraisal report for the fourth cycle of the TSF supplementary support in ADF 14, together with the indicative TSF country resource allocation in the ADF 14 cycle.