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연구정보

[경제] Jamaica : First Economic Resilience Development Policy Loan Project

중남미 기타 국외연구자료 연구보고서 - World Bank 발간일 : 2023-12-04 등록일 : 2023-12-10 원문링크

Ratings for the First Economic Resilience Development Policy Loan Project for Jamaica were as follows: overall outcomes were moderately satisfactory, the relevance of prior actions was satisfactory, and the Bank performance was satisfactory. Some lessons learned included: the DPF proved to be an agile operational instrument in that its flexible design allowed for relatively quick adjustment to a lending program in the face of the crisis. After the COVID-19 pandemic hit, the Bank was able to postpone the second operation, giving the client additional time to respond to crisis needs. Instead of either canceling the second operation or requiring the Government to proceed according to the fixed schedule, the Bank helped the Government navigate uncharted waters. In doing so, it was able to preserve the benefits of the operation while pivoting to a new operation that addressed the new circumstances. The Bank could have better investigated the factors affecting the achievement of the PDO, hence designing a stronger theory of change. Greater diligence in monitoring and collecting indicators linked to the program will make progress easier to measure and improve accountability. Data on several results indicators was not systematically tabulated and shared at program closure. On the one hand, this created challenges for assessing the program’s achievements, requiring repeated requests over a period of months. On the other hand, it suggested low buy-in for the program by some agencies. This reflects an often-noted issue in policy lending, whereby the funds are delivered to the Ministry of Finance and the Public Service, but the agencies tasked with making progress in policy areas are not necessarily given the resources to do so.

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