Learning in World Bank Lending (Approach Paper)

The World Bank has a comparative advantage in development knowledge that is valued by countries and its partners. This knowledge sets it apart from other development organizations and helps it attract partners, funding, and new business. The World Bank aims to promote the use of the best global and country knowledge available to inform operations. The World Bank’s knowledge contributes to outcomes directly (by informing clients in their reform efforts) and indirectly (via World Bank financing). Knowledge is embedded in World Bank–financed operations and is an important part of the World Bank’s value proposition for clients. Managing knowledge in a large organization like the World Bank is inherently complex. The World Bank has responded in many ways over the years, and more recently, developed the Strategic Framework for Knowledge (SFK). The new Knowledge Compact for Action is the World Bank’s latest approach to articulate its vision and approach to knowledge. It aims to transform the World Bank’s approach to knowledge, positioning it as a “21st century Knowledge Bank” and to create a dynamic knowledge ecosystem that facilitates knowledge flows within the Bank and externally. This evaluation’s broad purpose is to assist the ongoing efforts of the World Bank and the Committee on Development Effectiveness to improve learning in World Bank–financed operations. This evaluation is timely and relevant because it is aligned with management’s efforts to renew the World Bank’s leadership in development knowledge and develop the new Knowledge Compass.