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As part of a growing focus on the effectiveness of development assistance from the World Bank and other agencies, new efforts are being made to relate development finance more closely to outcomes achieved rather than o inputs used—the Results-Based Financing (RBF) approach. We provide a framework for analyzing the operational dimensions of RBF, including the conditions which suit this approach, and how best to define, measure, and report results. We review some of the early World Bank experience with this approach, and highlight strengths and challenges in the range of techniques adopted so far. We also discuss how best RBF can be evaluated and used to greatest effect over the coming years.

Table of contents

1. Introduction
2. The Theory of Results-Based Development Assistance
3. The Adoption of Results-Based Financing in the World Bank
4. Results Measurement and Verification
4.1 Which Results and Indicators?
4.2 A Verification System
5. Calibrating Finance to Results
5.1 How Much Finance?
5.2 Over What Period?
5.3 Managing Conditionality
6. Evaluating Results-Based Development Assistance
7. Conclusion
References

Resource Information

Author/s: Thomas O’Brien, Ravi Kanbur
Date of Publication: April 2013

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