Economics & Development

Ratings of Private-Sector-Led and More Sustainable Economic Recovery Development Policy Financing Project for Kazakhstan were as follows: overall outcome was satisfactory, relevance of prior actions was satisfactory, and achievement of objectives was satisfactory. Some of the lessons learned include: Standalone DPFs can be effective in reinvigorating sequenced reforms in key sectors; Operations in response to external shocks or crises should prioritize the government's new challenges to effectively manage the shocks; The increasing maturity of the reform agenda, supported by DPFs, and the stability of the reform environment, facilitated a transition to programmatic DPF series; Enhancing the Monitoring and Evaluation (M&E) framework of DPFs can be achieved by ensuring that the results indicators are concentrated on the key development outcomes targeted by the program through the prior actions; and Collaboration with development partners, including International Financial Institutions, was crucial in the implementation of this DPF.

Ratings of the GH eTransform Ghana for Ghana were as follows: outcome was moderately satisfactory, Bank performance was moderately satisfactory, and M&E quality was high. Key lessons and recommendations are as follows: Flexibility in project design and timely restructuring are essential to remain aligned with evolving government priorities; future operations should adopt an agile, phased approach and include a comprehensive theory of change from the outset, and consider, where appropriate, developing a follow-on operation rather than relying on late additional financing. Strong and continuous stakeholder engagement, including early and proactive consultations and the integration of environmental and social considerations from the start, helps mitigate implementation risks and delays. Stable leadership and empowered institutional champions are critical for ownership and continuity; formalizing roles and commitments through memorandums of understanding can strengthen collaboration and accountability. Sustainability requires anticipating rapid technology changes and budgeting for software licenses, operations, and maintenance; governments should plan permanent or multi-year licensing and avoid hardware obsolescence by factoring lifecycle and support horizons into procurement. Investing in capacity building across beneficiary institutions and addressing high staff turnover are necessary to secure adoption, effective operation, and long-term use of digital systems. Close collaboration and regular communication between the implementation unit and the World Bank team, including frequent joint problem-solving and on-the-ground support, improve responsiveness and delivery. To drive uptake and sustained use of e-services, teams should diagnose and address resistance to change beyond skills gaps by conducting early needs assessments, ensuring leadership alignment, communicating clearly, securing adequate budgets, delivering quick wins through agile methods, and adapting services as technologies and user demands evolve. Specific to e-immigration and similar complex platforms, early leadership buy-in, consistent decision-making, secured budgetary allocations for recurring costs such as search engine and system licenses, and procurement strategies that account for rapid technology change are necessary to avoid deactivation, ensure continuity, and protect returns on investment.

This press release announces on December 23, 2024, that the International Finance Corporation (IFC) has partnered with Meghna Re-Rolling & Steel Mills Limited (MRSL), a sister concern of Meghna Group of Industries, to establish Bangladesh’s first climate-smart steel plant. The state-of-the-art facility is expected to produce 1.5 million metric tons of steel annually, representing approximately 20 percent of Bangladesh’s current annual steel demand. Using 100 percent recycled scrap, the project aims to support sustainable industrial development, strengthen economic growth, and help address climate-related challenges while promoting environmentally responsible steel production.