abhishreshthaa
Abhijeet S
The World Bank has established policies and procedures that help ensure its operations are economically, financially, socially, and environmentally sound.
Policies and procedures are codified in the Bank's Operational Manual. They are subject to extensive review while being formulated, and to compliance monitoring once approved
Policy Definitions and Documentation Policy Formulation and Review
Compliance Monitoring
Disclosure of Information
Fiduciary Policies
Safeguard Policies
Policy Definitions and Documentation
The Operational Manual is available online. Volume I deals with the Bank's core development objectives and goals, and the instruments for pursuing them. Volume II covers the requirements applicable to Bank-financed lending operations.
The Manual covers several different kinds of operational statements: Operational Policies, Bank Procedures, Good Practices, and Operational Directives.
Operational Policies (OPs) are short, focused statements that follow from the Bank's Articles of Agreement, the general conditions and policies approved by the Board of Executive Directors. They establish the parameters for the conduct of operations, describe the circumstances in which exceptions to policy are admissible, and spell out who authorizes exceptions.
Bank Procedures (BPs) explain how Bank staff carry out the OPs by describing the procedures and documentation required to ensure Bankwide consistency and quality.
Good Practices (GPs) contain advice and guidance on policy implementation such as the history of the issue, the sectoral context, analytical framework, and examples of good practice. Operational Directives (ODs) contain a mixture of policies, procedures, and guidance; these are gradually being replaced by OPs/BPs/GPs.
The Operational Policies and Bank Procedures are detailed in the Manual. Operational Directives that are still in effect can also be found in the Manual. Good Practices are maintained and made available by the various Bank units responsible for specific policies.
Policy Formulation and Review
The Bank's Operations Policy and Country Services Vice Presidency (OPCS) guides policy formulation and review, a process that is managed by the appropriate Network Vice Presidency.
Formulation or review of a policy entails bringing together experienced regional and network staff, legal experts, and policy writers. If the policy is complex, the task may take several years, entailing an iterative process of drafting and revising. An initial draft is prepared, often based on sector or thematic strategy work relevant to the policy.
The draft statement is then circulated for comments to internal experts, clients, external experts and partners such as NGOs, and the public. Finally, the policy is submitted for comments and approval to responsible units, the Bank's Managing Directors and the Board.
Compliance Monitoring
The Bank's credibility rests on effective implementation of its policies. Monitoring compliance with policies is the responsibility of the Operations Poilcy and Country Services Vice Presidency (OPCS). OPCS works to strengthen systems for monitoring compliance. It works in collaboration with the Bank's other vice presidencies, and with other World Bank Group organizations.
The Bank has also set up the Inspection Panel, an independent forum for private citizens who believe that their rights or interests have been or could be directly harmed by a Bank-financed project. If people living in a project area believe that harm has resulted or will result from the failure of the Bank to follow its policies and procedures, they or a representative may request a review of the project by the Inspection Panel.
Disclosure of Information
The Bank has established its Disclosure Policy to support important goals: to be open about its activities, to explain its work to the widest possible audience, and to promote overall accountability and transparency in the development process. The Bank seeks to provide balanced information, reporting and learning from the failures or disappointments in its operations as well as the successes.
Recent extensions of the Disclosure Policy include the release of a greater number of project-related documents; disclosure of the Chairman's summaries of Board discussions on Country Assistance Strategies (CASs) and Sector Strategy Papers (SSPs); and a more systematic approach to accessing Bank archives. The Bank continues to review the provisions and implementation of its Disclosure Policy on a regular basis.
Fiduciary Policies
These policies govern the use and flow of Bank funds, including procurement. The Operations Policy and Country Services Vice Presidency (OPCS) provides guidelines for the procurement of goods and services in Bank projects. The guidelines help ensure that funds are used for their intended purposes, with economy, efficiency, and transparency.
They also ensure competitive bidding and help protect Bank-funded projects from fraud and corruption.
Bank projects are periodically audited by independent firms to make sure that the procurement rules are being followed. Any allegations of fraud or corruption that surface are referred to the Oversight Committee for follow-up, including investigations where appropriate. If allegations prove true, the Bank may terminate the employment of a staff member, debar firms implicated, and/or cancel the funds allocated to the contract in question.
Safeguard Policies
These policies help ensure that Bank operations do no harm to people and the environment. There are 10 safeguard policies, comprising the Bank's policy on Environmental Assessment (EA) and those policies that fall within the scope of EA: Cultural Property; Disputed Areas; Forestry; Indigenous Peoples; International Waterways; Involuntary Resettlement; Natural Habitats; Pest Management; and Safety of Dams.
The Bank conducts environmental screening of each proposed project, to determine the appropriate extent and type of EA to be undertaken, and whether or not the project may trigger other safeguard policies. The Bank classifies the proposed project into one of four categories (A, B, C, and FI) depending on the type, location, sensitivity, and scale of the project and the nature and magnitude of its potential environmental impacts.
Policies and procedures are codified in the Bank's Operational Manual. They are subject to extensive review while being formulated, and to compliance monitoring once approved
Policy Definitions and Documentation Policy Formulation and Review
Compliance Monitoring
Disclosure of Information
Fiduciary Policies
Safeguard Policies
Policy Definitions and Documentation
The Operational Manual is available online. Volume I deals with the Bank's core development objectives and goals, and the instruments for pursuing them. Volume II covers the requirements applicable to Bank-financed lending operations.
The Manual covers several different kinds of operational statements: Operational Policies, Bank Procedures, Good Practices, and Operational Directives.
Operational Policies (OPs) are short, focused statements that follow from the Bank's Articles of Agreement, the general conditions and policies approved by the Board of Executive Directors. They establish the parameters for the conduct of operations, describe the circumstances in which exceptions to policy are admissible, and spell out who authorizes exceptions.
Bank Procedures (BPs) explain how Bank staff carry out the OPs by describing the procedures and documentation required to ensure Bankwide consistency and quality.
Good Practices (GPs) contain advice and guidance on policy implementation such as the history of the issue, the sectoral context, analytical framework, and examples of good practice. Operational Directives (ODs) contain a mixture of policies, procedures, and guidance; these are gradually being replaced by OPs/BPs/GPs.
The Operational Policies and Bank Procedures are detailed in the Manual. Operational Directives that are still in effect can also be found in the Manual. Good Practices are maintained and made available by the various Bank units responsible for specific policies.
Policy Formulation and Review
The Bank's Operations Policy and Country Services Vice Presidency (OPCS) guides policy formulation and review, a process that is managed by the appropriate Network Vice Presidency.
Formulation or review of a policy entails bringing together experienced regional and network staff, legal experts, and policy writers. If the policy is complex, the task may take several years, entailing an iterative process of drafting and revising. An initial draft is prepared, often based on sector or thematic strategy work relevant to the policy.
The draft statement is then circulated for comments to internal experts, clients, external experts and partners such as NGOs, and the public. Finally, the policy is submitted for comments and approval to responsible units, the Bank's Managing Directors and the Board.
Compliance Monitoring
The Bank's credibility rests on effective implementation of its policies. Monitoring compliance with policies is the responsibility of the Operations Poilcy and Country Services Vice Presidency (OPCS). OPCS works to strengthen systems for monitoring compliance. It works in collaboration with the Bank's other vice presidencies, and with other World Bank Group organizations.
The Bank has also set up the Inspection Panel, an independent forum for private citizens who believe that their rights or interests have been or could be directly harmed by a Bank-financed project. If people living in a project area believe that harm has resulted or will result from the failure of the Bank to follow its policies and procedures, they or a representative may request a review of the project by the Inspection Panel.
Disclosure of Information
The Bank has established its Disclosure Policy to support important goals: to be open about its activities, to explain its work to the widest possible audience, and to promote overall accountability and transparency in the development process. The Bank seeks to provide balanced information, reporting and learning from the failures or disappointments in its operations as well as the successes.
Recent extensions of the Disclosure Policy include the release of a greater number of project-related documents; disclosure of the Chairman's summaries of Board discussions on Country Assistance Strategies (CASs) and Sector Strategy Papers (SSPs); and a more systematic approach to accessing Bank archives. The Bank continues to review the provisions and implementation of its Disclosure Policy on a regular basis.
Fiduciary Policies
These policies govern the use and flow of Bank funds, including procurement. The Operations Policy and Country Services Vice Presidency (OPCS) provides guidelines for the procurement of goods and services in Bank projects. The guidelines help ensure that funds are used for their intended purposes, with economy, efficiency, and transparency.
They also ensure competitive bidding and help protect Bank-funded projects from fraud and corruption.
Bank projects are periodically audited by independent firms to make sure that the procurement rules are being followed. Any allegations of fraud or corruption that surface are referred to the Oversight Committee for follow-up, including investigations where appropriate. If allegations prove true, the Bank may terminate the employment of a staff member, debar firms implicated, and/or cancel the funds allocated to the contract in question.
Safeguard Policies
These policies help ensure that Bank operations do no harm to people and the environment. There are 10 safeguard policies, comprising the Bank's policy on Environmental Assessment (EA) and those policies that fall within the scope of EA: Cultural Property; Disputed Areas; Forestry; Indigenous Peoples; International Waterways; Involuntary Resettlement; Natural Habitats; Pest Management; and Safety of Dams.
The Bank conducts environmental screening of each proposed project, to determine the appropriate extent and type of EA to be undertaken, and whether or not the project may trigger other safeguard policies. The Bank classifies the proposed project into one of four categories (A, B, C, and FI) depending on the type, location, sensitivity, and scale of the project and the nature and magnitude of its potential environmental impacts.