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OPEV’s Evaluation on Project Supervision - Management Response
Management welcomes OPEV’s independent evaluation of the Bank’s project supervision practices and policies between 2001 and 2007. It provides useful insights into how good supervision can improve portfolio performance, help address persistent issues with regard to cancellation of operations and, ultimately, advance the Bank’s development agenda. The review rightly signals some serious weaknesses with regard to the Bank’s current supervision practices: lack of realism of project performance ratings, insufficient attention to results and risk and inappropriate level of resources devoted to supervision. The findings of the evaluation are particularly timely: they come at a point when management is launching an overhaul of the Bank’s practices with a view to introducing actionoriented and evidence-based supervision practices.