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Buy Now. We stock these brands. Featured Products. About Us. Faster, easier, simpler. View our products. Amy is the very proud owner of Scrapbook Life. Featured Categories. New Products. Most Popular. To learn more about cookies, click here. The World Bank provides financing and services to low and middle-income countries to support development and change.
Development projects are implemented by borrowing countries following certain rules and procedures to guarantee that the money reaches its intended target. The project cycle is the framework used to design, prepare, implement, and supervise projects. The duration of the project cycle is long by commercial standards. It is not uncommon for a project to last more than four years; from the time it is identified until the time it is completed.
The World Bank, jointly with IFC and MIGA, works with a borrowing country's government and other stakeholders to determine how financial and other assistance can be designed to have the largest impact. Identified projects can range across the economic and social spectrum from infrastructure, to education, to health, to government financial management. The World Bank and the government agree on an initial project concept and its beneficiaries, and the Bank's project team outlines the basic elements in a Project Concept Note.
This document identifies proposed objectives, imminent risks, alternative scenarios, and a likely timetable for the project approval process. Two other Bank documents are generated during this phase.
The Project Information Document outlines the scope of the intended project and contains useful public information for tailoring bidding documents to the proposed project, and the publicly available Integrated Safeguards Data Sheet identifies key issues related to the Bank's safeguard policies for environmental and social issues.
Project Information Document. Integrated Safeguards Data Sheet. The borrower government and its implementing agency or agencies are responsible for the project preparation phase, which can take several years to conduct feasibility studies and prepare engineering and technical designs, to name only a few of the work products required.
The government contracts with consultants and other public sector companies for goods, works and services, if necessary, not only during this phase but also later in the project's implementation phase. Beneficiaries and stakeholders are also consulted now to obtain their feedback and ensure the project meets their needs. Due to the amount of time, effort and resources involved, the full commitment of the government to the project is vital.
The World Bank generally takes an advisory role and offers analysis and advice when requested, during this phase. However, the Bank does assess the relevant capacity of the implementing agencies at this point, in order to reach agreement with the borrower about arrangements for overall project management, such as the systems required for financial management, procurement, reporting, and monitoring and evaluation. Earlier screening by Bank staff may have determined that a proposed project could have environmental or social impacts that are included under the World Bank's Safeguard Policies.
If necessary, the borrower now prepares an Environmental Assessment Report that analyzes the planned project's likely environmental impact and describes steps to mitigate possible harm. In the event of major environmental issues in a country, the borrower's Environmental Action Plan describes the problems, identifies the main causes, and formulates policies and concrete actions to deal with them.
From a social point of view, various studies aimed at analyzing a project's potentially adverse effects on the health, productive resources, economies, and cultures of indigenous peoples may be undertaken. An Indigenous Peoples Plan identifies the borrower's planned interventions in indigenous areas that may be needed, with the objective of avoiding or lessening potential negative impacts on the people.
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