Robert Strange McNamara (1916-2009) became President of the World Bank Group in April 1968. This followed seven years as United States Secretary of Defense and a period at the Ford Motor Company in the 1950s where he ascended to the position of president. Over the course of his thirteen years as President of the World Bank, McNamara brought considerable change to all aspects of Bank operations. The Bank began to specifically address problems of income disparity and poverty and diversified into sectors previously ignored by both the Bank and the burgeoning development community. It also began to play a more active and at times critical role in many developing economies.

The most prominent action McNamara took upon first becoming World Bank Group President was to dramatically increase the volume of lending. Based on his first five-year lending plan, he proposed to the Governors of the World Bank Group at the Annual Meetings in 1968 that the Bank double the volume of lending during the next five years. His second five-year plan, introduced in 1973, proposed another 40% increase. Bank commitments rose from $1 billion in 1968 to $13 billion in 1981. In order to prepare projects at the necessary rate, McNamara introduced the Country Program Paper (CPP) in 1969; the purpose of the CPP was to provide an overall and long-term development strategy for each country.

The number of staff increased by 125% during McNamara's first five years, and from 1,600 to 5,700 over the course of his tenure. Diversification in the nationality of staff also increased. In order to accommodate the expanding volume of business and the corresponding increase in staff, McNamara undertook a massive, Bank-wide reorganization in 1972. The most significant aspect of the reorganization was the integration of the former Projects Division, which consisted of sector specialists responsible for operational project work, into one of five new Regional Vice Presidencies (RVP). Thus, rather than one Projects Department supporting projects in countrieson an ad hoc basis, each RVP would maintain its own projects staff. As a result, staff responsible for both sector skills and country knowledge would necessarily work more closely together.

In order to mobilize the resources to fund this massive expansion of Bank operations, McNamara found less conventional avenues of support. He looked beyond Wall Street to Germany, Japan, and the Middle East. He also increased borrowing from central banks and broke into the European pension trust market. In 1969, he hired Eugene Rotberg to take command of these ambitious borrowing plans.

McNamara focused on the issue of population growth more than any other Bank President. The Bank's first financing for family planning was approved under McNamara in 1970. He also continued to expand the Bank's emphasis on agricultural lending. With the support of the Bank's economic research lead, Hollis Chenery, McNamara recommended measures such as land and tenancy reform and programs to increase the productivity of small farmers. Education lending also grew during McNamara's tenure, increasing threefold between 1968 and 1981. In the middle to late 1970s, urban poverty was increasingly identified for renewed focus by the Bank; urban assistance programs aimed at increasing employment opportunities, improving squatter settlement programs, supporting small-scale enterprise financing, and implementing plans for basic services in transport, electricity, water supply, and education.

McNamara also made a concerted effort to increase the financial support and status of development finance research in the Bank. This was evidenced by the Bank's early sponsorship of the Consultative Group on International Agricultural Research (CGIAR) and by the recruitment of the distinguished development economist, Hollis Chenery, to run the Bank's research activity and to be its chief economist. Chenery was encouraged to undertake general research as well as to provide analytical guidance to the new operational and sector policy units. By the time of McNamara's departure from the Bank in 1981, it was able to claim a role as an intellectual leader in development matters.

Towards the end of his time as President, the World Bank Group became even more involved in the economic policies of borrower nations through the proliferation of structural adjustment program lending. This included a call for a reorientation of economic policies to accomplish higher savings and investment rates, greater efficiency in the domestic use of capital, and more emphasis on the private sector than previously advocated. Structural adjustment loans provided financing that would induce reforms but would also deliver significant negotiable resources.

In terms of the organizational structure of the Bank during McNamara's tenure, the most significant change was the previously described 1972 reorganization. The arrangement of McNamara's most immediate advisers was not considerably altered. He maintained the formal structure of the President's Council as put in place by his predecessor GeorgeWoods, although the responsibilities of its members were distributed on a more functionally specific basis: as Senior Vice President of Operations (SVPOP) , Burke Knapp was responsible for lending and technical assistance activities only; Simon Aldewereld was designated Vice President of Finance (VPF); Mohammad Shoaib was named Vice President, Organization Planning and Personnel Management (VPO) and became responsible for administrative matters; and Vice President Dennis Rickett, who came on board with McNamara, was assigned responsibility for liaison with Part I countries and IDA replenishment negotiations.

Following the retirement of Vice Presidents Alderwereld and Rickett in 1974 and, earlier, Development Services Director Richard Demuth, a number of changes were instituted, many of which involved the RVPs. Significantly, the Director, External Relations (DER), who had supervised the Information and Public Affairs Department (IPA) and all functions previously assigned to the Development Services Department, was upgraded to a Vice President, External Relations. William Clark was named EXTVP. In 1978 the Vice President, Finance was upgraded to Senior Vice President, Finance (SVPFI), reflecting added responsibilities. I.P.M. Cargill, who had replaced Simon Aldewereld upon his retirement in 1974, was named SVP. Cargill was, in turn, replaced by Moeen Qureshi in 1980.

After more than thirteen years, McNamara departed the Bank in June 1981. Several of his most prominent managers and advisers left with him upon his departure, including: William Clark, his public affairs chief; Mahbub ul Haq, his most visible and articulate progressive; and Hollis Chenery.

Lewis Thompson Preston (1926-1995) became the eighth World Bank Group President in 1991. A former Marine in the Second World War and a Harvard graduate (1951), Preston was employed by J.P. Morgan Bank for nearly forty years prior to joining the Bank. Entering J.P. Morgan as a trainee in 1951, Preston rose to executive vice president for international banking in 1968 and, finally, chairman and chief executive in 1980. He would hold the latter position until stepping down in 1989.

Early in Preston's tenure, the Global Environment Facility (GEF), an effort initiated by Preston's predecessor, Barber Conable, was formally established. A cooperative program among the World Bank Group, the United Nations Development Program (UNDP), and the United Nations Environment Programme (UNEP), GEF functioned as a trust fund intended to assist in the protection of the global environment and to promote sustainable environmental development. The Bank under Preston continued with other efforts related to the environmental sector, including the implementation of environmental policies in Bank projects.

In response to criticism of the Bank's performance on resettlement and treatment of indigenous peoples, a major review of resettlement activities was undertaken during Preston's time as Bank President. In addition, programs were established to create partnerships between international organizations, governments, non-governmental organizations, and indigenous organizations to improve the conditions of indigenous populations.

Theindependent Inspection Panel was created in 1993. The Panel was modeled on the Morse Commission, which had investigated the controversial Sardar Sarovar (Narmada) project in India and whether or not the Bank Group had followed its own policies and guidelines on resettlement and environmental issues. The Panel was given the mandate to receive and investigate complaints that the Bank had not followed its policies and procedures with respect to the design, appraisal or implementation of development projects. The first panel members were appointed in April 1994.

Owing to the opening up of Eastern Europe, Preston oversaw one of the most dramatic increases in membership in World Bank Group history. International Bank for Reconstruction and Development (IBRD) membership increased by 24 countries and International Development Association (IDA) membership increased by 20 countries. The International Finance Corporation (IFC) and the International Centre for Settlement of Investment Disputes (ICSID) increased by 23members and 21 members respectively. Multilateral Investment Guarantee Agency (MIGA) experienced the largest growth, from 66 members when Preston assumed the presidency, to 129 members at the close of his tenure - almost doubling in size. Many of these new members received their first financing from the World Bank Group during Preston's presidency. In addition to new involvement with Eastern European countries, Preston also oversaw the resumption of lending to Vietnam and post-apartheid South Africa and a program of support for the West Bank and Gaza.

In 1991 Preston instituted a reorganization of the Bank's structure that fine-tuned the changes implemented by Conable. The management structure was streamlined by the removal of senior vice presidencies and by the implementation of a more simplified budgeting process. During Preston's tenure the Bank also increased its presence in member countries by establishing a number of new resident missions.

In February 1995, Lewis Preston announced that he had been diagnosed with cancer. He died three months later. Managing Director Ernest Stern was appointed acting president in his absence.

Benjamin B. King joined the World Bank in 1947 as an economist. He retired in 1981. During his long career he served in various parts of the Bank: the Economics Department (1947-1949, 1950-1952, 1965-1967), Office of the President (1949-1950), Europe, Africa & Australasia Department (1952-1957), Economic Development Institute (1957-1962), South Asia and Middle East Department (1962-1965), South Asia Department (1967-1970), Special Projects Department (1970-71), Economics Program Department (1971-1972),and Development Policy Staff (1974-1978). He completed his career as the Director, Development Economics Department, 1978-1981. From 1972-1974 King was seconded from the World Bank to serve as an adviser to the Canadian International Development Agency.

W. David Hopper joined the World Bank in 1978 as the Vice President, South Asia Regional Office. A Canadian citizen, he had previously been the president and CEO of the International Development Research Centre in Canada; his background was in agricultural development. In May 1987 he was appointed Senior Vice President for Policy Planning and Research, a position he held until November 1989. During his service with the Bank he chaired the Consultative Group on International Agricultural Research (CGIAR)and the Special Program for African Agricultural Research. Hopper was a member of the Personnel and Administration Committee (PAC) and the Senior Management Council (SMC). He retired in April 1990.

Bernard Raymond Bell was born in Philadelphia on January 9, 1912 and was educated at the University of Pennsylvania and the University of Paris. Bell began his career as an economist with the Department of Agriculture in 1935 and served as chief economist of the Export-Import Bank in the U.S. He was employed by various consulting firms from 1953 to 1965.

He first joined the World Bank in 1962 when he was engaged as a consultant to serve as a transportation adviser on a mission to Colombia. At that time, he was associated with a consulting firm, Surveys and Research Corporation, of Washington, D.C. From September 1964 through 1965 he directed a major Bank mission to India, at the request of President George D. Woods, to conduct a comprehensive study of the Indian economy and advise the Bank and its partnering aid group, the India Consortium, on India's economic challenges. During this period, India was the Bank's largest debtor and was also heavily indebted to several other development agencies and governments around the world. The report titled Report to the President on India?s Economic Development Effort, also known as the Bell Mission report, was issued on October 1, 1965. The report significantly influenced Bank policies toward development in India, recommending the introduction of intensified agricultural production and the devaluation of the Indian currency. The mission report also supported India's request for additional development assistance, especially for quicker project disbursements.

In December 1965, Bell joined the regular staff of the Bank as Assistant Director, Economics, Project Department and became Deputy Director of the Projects Department in 1967. Bell continued to be involved with India when he was appointed economic advisor to President Woods' resident representative to India, Andre de Lattre, who was handling financial negotiations between the government of India and the India Consortium. Bell was responsible for the Bank's analysis of the Indian government?s Fourth Five-Year Plan. His study was published in the subsequent 1967 Bank report titled ?Indian Economic Policy and the Fourth Five Year Plan".

In August 1968 Bell went to Djakarta, Indonesia as Director, Resident Staff Indonesia. Following the reorganization of the Bank in October 1972, he returned to headquarters to become the Vice President, Eastern Africa Region (AFRVP), and then became Regional Vice President, East Asia and Pacific Region (EAPVP), in July 1974. He retired from the World Bank in January 1977.

Bell later served as a consulting economist for the International Finance Corporation (IFC) as well as for the Bank and was a director of the Housing Development Corporation in Bombay until 1989.

He died on March 29, 1994 at his home in Washington, D.C.

In August 1968, former Canadian Prime Minister and Nobel Peace Prize winner, Honorable Lester Bowles Pearson, accepted an invitation from the President of the World Bank, Robert S. McNamara, to form an international commission "to review the impact of external assistance on the development of the poorer nations over the past two decades", assess the results, and make recommendations for the future of aid and development.

The initiative for the Commission came from McNamara's predecessor, George D. Woods. Amid international concern about declining foreign aid available from major donor countries, particularly during the declared United Nations Development Decade, President Woods explored different methods to increase development funding. In 1967, Woods spent a weekend at Sussex University to discuss these problems with a small group of individuals including diplomat William Clark and Barbara Ward, author of the UN Midterm Report on the Decade. The meeting resulted in the proposal for a commission of experts to examine the state of development and the steps necessary for maintaining hope and progress. Woods launched the idea of a "grand assize" of experts when he spoke to the Swedish Bankers' Association in Stockholm on October 27, 1967 in his last major speech as Bank president. He stated that the World Bank would be prepared to finance necessary research and to assist in recruiting a group of experts to examine the development problem. According to Woods, "[s]uch a Grand Assize - judging the world's record and prospects of growth - should in any case precede any attempt to round off our faltering Decade of Development with a genuine reformation of policy". The proposal was formally instituted ten months later during McNamara's tenure as World Bank president.

The Commission on International Development, also known as the Pearson Commission, was financed by the World Bank but operated as a completely independent body, just as its members were not representatives of their respective governments. Chairman Pearson had the authority to assemble the Commission members and by mid-October 1968, seven prominent international figures, each from a different country and background, had agreed to serve with Pearson in a non-official capacity. They were: Sir Edward Boyle (United Kingdom); Roberto de Oliveira Campos (Brazil); C. Douglas Dillon (United States); Dr. Wilfried Guth (West Germany); Sir W. Arthur Lewis (St. Lucia); Robert E. Marjolin (France); and Dr. Saburo Okita (Japan).

Because of the crisis in aid shortfalls, the Commission decided that its report should be made available as early as possible. To complete its objective in a timely manner and to sufficiently study the multitude of topics, the Commission employed contractors to conduct the research. Between October and December 1969, the Commission was also staffed with senior professionals and experts, some of whom were World Bank employees on loan. The group was housed in an office building at 1900 L Street NW, Washington D.C.

The Commission's eight members met four times in order to direct the staff's work, to receive senior staff's analysis of their study topics, to make decisions about the ideas and conclusions, and to write the report. The first meeting was in Mont Gabriel near Montreal, December 16-17, 1968, followed by Rome (March 1969), Copenhagen (June 1969), and Geneva (August 1969). Between these meetings, the Commission also sponsored a series of regional hearings in developing countries across four continents. Pearson, accompanied by one or more commissioners, invited governments and in some cases distinguished private individuals, to come during the few days spent in each location and give testimony to the Commission on the full range of development issues under study. The regional hearings took place in Santiago, Abidjan, Kampala, Rawalpindi, New Delhi, Singapore, and Ankara, and were attended by government representatives of some seventy countries to present their views.

The Commission investigated a wide variety of topics, including the volume and terms of aid, the debt burden of developing countries, technical assistance, trade, private investment, economic growth, population control, and education and research. The findings and recommendations of the Commission on International Development were published September 15, 1969 under the title "Partners in Development". The report presented thirty-three recommendations and argued that developed countries needed to make a more substantial commitment to foreign aid and to economic development as a global initiative. Many of the proposals would involve the leadership and support of international organizations including World Bank Group and Organization for Economic Co-operation and Development (OECD).

The Commission was dissolved in 1969 following the completion of its report. "Partners in Development" was the first sustained evaluation of international development assistance.

The International Bank for Reconstruction and Development (IBRD) established a centralized files system on September 30, 1946 with the issuance of Administrative Order No. 3, "Organization of the Communications and Records Services". Initially reporting to the Bank Vice President, the Communications and Records unit was responsible for opening and routing all incoming written official wire, mail, and other communications, dispatching all outgoing written official communications, and maintaining the centralfiles location of official correspondence created by Bank departments and offices.

According to the 1947 Administration Manual, "each office and department will forward Bank records received or created by it, as soon as they cease to be working papers" to the General Files. Initially only the Secretary's Department, Treasurer, Loan, Research, and Legal Departments were authorized to maintain their own files outside of the General Files. Executive Directors' minutes, agenda, and similar documents were also excluded from the centralized files, except those distributed by the Secretary for filing.

Beginning in 1948 through the next decade, file collections from Loan, Economics (formerly Research), Legal, and Technical Operations Departments as well as the Economic Development Institute were incorporated into the Central Files. As the Bank grew to include the International Finance Corporation (IFC) in 1956 and International Development Association (IDA) in 1960, the Central Files included records of those entities as well.

The centralized files were organized according to a Bank-wide classification system and files were traditionally divided into four groups: general files (or non-regional files); operational files (country-specific or regional files) generated mostly by the Loan and Economic Departments; membership, bond and finance files; and official documents mostly legal in nature including loan agreements.

The Communications and Records unit succeeded by the Central Files Section (ADMCF), theGeneral Files Section (ADMGF) and the Records Management Section (later under the Information Solutions Department) were responsible for classifying and maintaining official files from 1946 to 1987. In practice however, official files were incomplete and fragmentary, as departments often kept their own files for convenience or did not forward official correspondence to Central Files once it was no longer required for business.

By the 1960s the maintenance of a central filing system had become progressively cumbersome as the growth of Bank Group operations had resulted in an increasingly large volume of files. As a result, decentralization of some department files began occurring in 1960 with the Legal Department. By late 1967, other departments considered to be specialized including Treasurer, Economic Development Institute, and the Personnel Division of the Administration Department were also authorized to keep their own files.

The physical relocation of Central Files from the Bank's main complex tothe tenth floor of the G Street building in May 1970 also led to the sharp decrease in the use of Central Files and an increase of duplicate sets of working files in the divisions and departments throughout the Bank. In response to this problem, Central File Stations were created and located in close physical proximity to their primary users, although the files remained under the administrative control of the Records Management Section. The IFC Files Station was the first to become a satellite file stationin June 1971 followed by the Bank Administration and Policy (BAP) Central Files Stations (1972 - 1974). These were renamed BAP Central Records Stations (1975 - 1977) and then the Non-Regional Information Centers (NRIC, 1978 - 1987). From 1972 to 1987 these satellite records stations served Administration, Operations Policy, Economic Research and External Relations Vice Presidencies, among other non-regional departments.

As a result of the Bank's July 1987 reorganization of the records management function, Non-Regional Information Centers were closed and recordkeeping responsibilities were turned over to the records-creating offices.

An American national born in 1938, John Nellis received his B.A. (1960), M.A. (1964), and Ph.D. (1968) in Political Economy from the Maxwell School at Syracuse University. Prior to joining the World Bank, Nellis held teaching and research positions at a number of academic institutions, including the University of Nairobi (as a Fellow of the Institute for Development Studies), Carleton University (as professor of international affairs), and the Maxwell School at Syracuse University (as professor of Development Planning and Public Administration). He also served as the representative of the Ford Foundation in North Africa during which time he conducted research and administered aid programs.

Nellis was employed by the World Bank between 1984 and 2000 during which time he dealt with a variety of development topics and sectors, including privatization, public enterprise reform, market transitioning, and governance and public-sector management issues. Upon joining the Bank in 1984, he was named Management Specialist in the Public Management Unit (PPDPS) of the Projects Policy Department (PPD). The PPDPS, then just a year old, was responsible for advising and developing strategies for improving the management of governments and government-controlled enterprises.

As part of a 1987 Bank-wide reorganization, the PPD was terminated and the functions and staff of the PPDPS were transferred to the newly established Public Sector Management and Private Sector Development Division (CECPS) located in the Country Economics Department (CEC) of the Development Economics Vice Presidency (DEC). Nellis transitioned to CECPS, as well, and was soon after named Principal Management Specialist. CECPS specifically focused on private sector development activities such as assisting in the privatization of state-enterprises, performing private sector assessments, and improving the relations between the public and private sector through regulatory reform.

A Bank-wide reorganization in 1993 resulted in the termination of CECPS. Much of its staff and functional responsibility was transferred to the Private Sector Department (PSD). Nellis was one of those transferred to PSD where he was made Manager and then, in 1994, Senior Manager. PSD did not contain internal divisions until 1997. At this point Nellis was named Senior Manager of the Department's Enterprise Group (PSDEN) which focused on country enterprise reform and privatization. His final position at the Bank was director of the PSD. Nellis officially left the Bank in 2000.

Following his official departure from the Bank Nellis became a Principal in the research and consulting firm International Analytics. In this capacity he returned to the Bank regularly as a consultant in various regional and sectoral units. He also consulted for: the International Monetary Fund (IMF); the British Department for International Development; the Development Assistance Committee of the OECD; the Asian Development Bank; Transparency International; the Egyptian Centre for Economic Studies; the Government of Bolivia; the Government of Serbia; the Government of Tanzania; and the International Institute. He also served as a Non-Resident Senior Fellow at the Center for Global Development (CGD).

James L. Theodores was born on September 4th, 1922 in Thompson, Connecticut. After serving in World War II, Theodores attended Fitchburg State University in Massachusetts where he completed a BSE in Education. He subsequently completed a Master's degree in Management & Finance from New York University.

Prior to beginning employment at the World Bank, Theodores held a variety of positions related to education planning and management. These included: Superintendent of Schools in Scarsdale, New York; Education Planning, Building and Development Consultant for St. Ceyre Architects in Detroit, Michigan; and Senior Advisor to Colombia's Ministry of Education in Bogota, Colombia. He also published two books in the field of education.

Theodores joined the World Bank in 1970 as an Education Facilities Planner in the Education Department, the primary Bank unit responsible for appraisal, negotiation, and supervision of operational project work in the nascent education sector. Following the Bank-wide reorganization of 1972 that decentralized operational oversight into the new regional vice presidencies (RVPs), Theodores moved into the Education Division of the Europe, Middle East and North Africa Projects Department (EMPED).

In 1977, Theodores was named the Resident Representative for Afghanistan. Situated in Kabul, he held this position until 1980. As Resident Representative, Theodores was responsible for: maintaining liaison between the World Bank and Afghanistan government and presenting the Bank's views to the government; advising the Bank on significant developments in the country; participating in the preparation and presentation of projects for consideration by the Bank; providing information or responding to requests of the Afghan government; and facilitating the work of Bank missions visiting the country.

Following the closure of the World Bank's Kabul office in 1980, Theodores returned to World Bank headquarters in Washington D.C. and was named Senior Management Analyst in the Organization Planning Department (OPD). Theodores was named acting Field Coordinator (FC) in 1981, replacing Lawrence H. Berlin, and was officially named the new FC Coordinator in July 1982. As Field Coordinator, Theodores was responsible for introducing and establishing systems of security for both travelling and resident Bank/IFC staff and their dependents and advising the Vice President, Personnel and Administration (VPA) on field office matters.

Theodores left the Bank in 1987. He retired to Newport, Rhode Island before moving to San Francisco in 2009. He passed away on March 9th, 2014.

Aura Garcia de Truslow was born in Peru in 1938. She entered the employment of the World Bank in 1980 as an Urban Affairs Specialist. In 1981 she joined the Latin America and Caribbean Regional Vice Presidency's (LCNVP) Urban Division (LCPUR) as an Urban Planner. In this capacity she supported lending programs and conducted country and sector studies focusing on the urban and housing sectors.

In 1987, Garcia de Truslow joined the new Strategic Planning and Review Department (SPR) as a Planning Officer. SPR was created in 1987 as part of the new Policy, Planning and Research Complex (PPRSV) and was responsible for coordinating and managing PPRSV policy formation and developing a systematic Bank-wide strategic planning process. Garcia de Truslow worked in the department's Strategic Planning Division (SPRSP).

Following the termination of SPR in 1990, Garcia de Truslow rejoined the Bank's operations complex in the Latin America and Caribbean Regional Vice Presidency (LACVP) as a Senior Projects Officer. She served in a variety of LAC divisions during the subsequent seven years, including: Country Department 4's Infrastructure and Energy Operations Division (LA4IE, 1990); Country Department 4's Trade, Finance, and Industry Operations Division (LA4TF, 1991-1993); Country Department 4's Environment Division (LA4EN, 1994); and Country Department 1's Country Operations Division (LA1CO, 1994-1995). Garcia de Truslow retired from the Bank in 1997. She returned to the Bank briefly as a consultant in the Finance, Private Sector, and Infrastructure Division of LACVP between 1997 and 1998.

The Private Sector Development Vice Presidency (PSDVP) was launched in June 2003. It replaced the former Private Sector Development and Infrastructure Vice Presidency (PSIVP). Like its predecessor, the PSDVP was jointly organized by the World Bank and its affiliate the International Finance Corporation (IFC). PSDVP oversaw the following former PSIVP departments: the Private Sector Advisory Services (PSAS) and the Small and Medium Enterprise Department (SME). At its establishment, PSDVP consisted of the following joint IFC and Bank departments and units: the Investment Climate Department (CIC); the Private Sector Development Operations (CIO); and the Small and Medium Enterprises Department (CSM). SME functions and staff were transferred to the new CSM, and the PSAS functions and staff were transferred to CIC. The objectives of PSDVP included:

• enabling countries to build a favorable climate for investment and private sector growth;

• improving the enabling environment in client countries for corporate social responsibility (CSR), including gender and human rights; and

• improving the environment for privatization and state-owned asset management.

Michael Klein assumed the role of Director of PSDVP, and reported to Peter Woicke. Woicke oversaw PSDVP, serving in the dual role as IFC Executive Vice President and Managing Director for the World Bank.

In 2007, the PSDVP was terminated and its functions were transferred to the new joint Bank and IFC Financial and Private Sector Development Vice Presidency (FPDVP). The PSDVP departments and units were combined with the departments and units of the Bank's Financial Sector Vice Presidency (FSEVP) to form the new FPDVP.

The Senior Vice President of Operations (SVPOP) has its origins in the Office of the Vice President of Burke Knapp (OVPBK), or also referred to as the Vice President of Operations. Burke Knapp's Vice Presidency was established on July 24, 1956, as one of three vice presidencies replacing the Office of the Vice President of Robert Garner (OVPRG). Knapp reported directly to the President. Knapp was assigned responsibility for the Bank's operational activities, including:

• lending operations;

• economic, financial and technical research and analysis;

• economic survey missions and other technical assistance activities; and

• liaison with other lending and aid agencies on above matters.

Knapp was also designated Chairman of the Staff Loan Committee and the Area Department Head meetings. The following departments reported to Knapp: the Departments of Operations, or Area Departments - Europe, Africa and Australasia, Asia and the Middle East, and Western Hemisphere; the Department of Technical Operations (TOD); and the Economic Staff (ECS).

In 1965, the TOD was terminated and replaced by the new Projects Department (PRJ). PRJ continued to report to OVPBK.

In 1966, with the Departure of Vice President Geoffrey Wilson (OVPGW), responsibility for the Information Department (INFO) was transferred to OVPBK. In 1967, the Information Department (INFO) was transferred to the Director of Development Services (DSD), who reported directly to the Office of the President (EXC).

In 1968, the Projects Department (PRJ) was separated from OVPBK, and reported to Director and Vice President of Finance (VPF) Siem Aldewereld.

In 1972, the OVPBK was terminated. Its functions were transferred to the newly established Office of the Senior Vice President of Operations (SVPOP), which was also headed by J. Burke Knapp.

The Senior Vice President of Operations (SVPOP) was established on October 1, 1972, and reported directly to the Office of the President (EXC). The SVPOP was created as part of the comprehensive 1972 Bank-wide Reorganization, which upgraded the Bank's former Area Departments to new Regional Vice Presidencies (RVPs), and transferred most of the technical staff involved in project preparation and implementation from the Projects Department (PRJ) to the newly created regional projects departments located in the new RVPs, in order to more effectively fuse sector skills with country knowledge. The SVPOP would assist the Bank President in managing the integrated projects and operations staffs. Freed from day-to-day operational tasks, Knapp would concentrate on establishing operating objectives, priorities and policies, planning, spurring innovation and improving overall quality, efficiency and effectiveness.

At the date of its establishment, the following vice presidencies composing the Bank's Operations Complex reported to SVPOP: the Regional Vice Presidencies (RVPs) of the Asia Vice Presidency (ASN), the East Africa Vice Presidency (EAN), the West Africa Vice Presidency (WAN), the Europe, Middle East, and North Africa Vice Presidency (EMN), and the Latin America and the Caribbean Vice Presidency (LCN); and the newly established Vice President of Central Projects (CPSVP). The SVPOP also served as the Chairman for the Bank's Loan Committee and the Operational Vice Presidents (OVP, formerly the Area Department Heads) meetings. The SVPOP was also supported by a Front Office team consisting of a Senior Operations Adviser, and a Personal Assistant to the SVPOP.

In 1974, the Asia Vice Presidency (ASN) was split into the South Asia Vice Presidency (ASN) and the East Asia and Pacific Vice Presidency (AEN).

In 1978, Ernest Stern succeeded Burke Knapp and the SVPOP was re-titled the Vice President of Operations (VPO). The functions and responsibilities remained unchanged. In 1980, the position of the VPO of the Operations Complex was again upgraded to Senior Vice President of Operations (SVPOP).

In 1982, the CPSVP was terminated and replaced by the Operations Policy Vice Presidency (OPSVP). Some staff of CPSVP were also absorbed by the new Energy and Industry Vice Presidency (EIS). Both reported to the SVPOP.

In January 1983, the Secretariat of the Consultative Group for International Agricultural Research (CGIAR) was subordinated under the SVPOP; accompanying the move of Warren Baum, who served as Chairman of CGIAR, from the OPSVP to the Front Office of the SVPOP.

In May 1983, a new Vice President of Cofinancing (COF) was established with responsibility for all aspects of cofinancing policies and operations, and reported to theSVPOP. Later in 1983, the Office of the Management Systems and Budget (SVPMS) was added to the SVPOP Front Office to support budget formulation functions of the SVPOP and the Operations Complex.

In 1984, a Special Office for African Affairs was established in the Front Office of the SVPOP to coordinate and monitor a joint action program to expand technical and financial assistance to the countries of Sub-Saharan Africa.

In July 1984, the Operations Information Systems (SVPMI) Unit was established in theSVPOP Front Office to support and develop Management Information Systems (MIS) and database administration for the SVPOP and the Operations Complex.

In the May 1987 Reorganization, the Operations Complex was fundamentally restructured, the functions of the SVPOP redefined, and the SVPOP position given a new acronym (OPNSV). The main features of the reorganization were the consolidation of the former six Regional Vice Presidencies (RVP) into four, including: the Africa Vice Presidency (AFR); the Asia Vice Presidency (ASI); the Europe, Middle East, and North Africa Vice Presidency (EMENA); and the Latin America and Caribbean Vice Presidency (LAC). The reorganization also resulted in the creation of Country Departments (CDs), which combined functions previously divided between Programs and Projects Departments, and the establishment of Regional Technical Departments (TDs) taking on some of the functions of the former OPSVP and the EIS.

The newly reorganized Senior Vice President of Operations (OPNSV) served as a member of the President's senior management team and as Chief Operations Officer. The main responsibilities of the reorganized OPNSV included:

• advising the President on major operational issues;

• acting as the Bank's spokesman on operational matters vis-a-vis Part I and Part II counties;

• overseeing the formulation and implementation of the Bank's economic and social development programs; and

• ensuring the quality of the Bank's operational products and loans.

With the completion of the reorganization's second phase in September 1987, the following vice -presidencies and departments, which made up the Operations Complex, reported to OPNSV: the four Regional Vice Presidents (RVPs) of the Africa Vice Presidency (AFR), the Asia Vice Presidency (ASI), the Europe, Middle East, and North Africa Vice Presidency (EMENA), and the Latin America and Caribbean Vice Presidency (LAC); the newly established Vice President of Financial Intermediation (FIS); the Vice President of Cofinancing (COF); the Central Operations Department (COD); and the Economic Advisory Staff (EAS). The OPNSV also served as Chairman for the Operations Committee (OC, formerly the Loan Committee) and the Operations Policy Committee (OPC), which were composed of members from the Bank's Operations Complex.

The OPNSV was supported by a newly reorganized Front Office, or Operations Staff (OPN), which included: the Director of Operations Staff (OPN); the Special Adviser, Lending and Budget Operations; the Special Adviser, Personnel, Budget, and Information Management; the Chief Personnel Officer; and the Special Assistant to the OPNSV. The Operations Information Systems (SVPMI) Unit acronym was changed to the OPNMI, and the Office of the Management Systems and Budget (SVPMS) acronym was changed to the OPNMS.

Moeen Qureshi succeeded Ernest Stern as the new Senior Vice President for Operations (OPNSV).

In January 1989, the OPNMI was upgraded to a division and renamed the Operations Information Services Division (OPNIS).

In June 1989,the FIS was combined with the COF and renamed the Cofinancing and Financial Intermediation Vice Presidency (CFS). This was expected to enhance the Bank's ability to deal with debt issues and improve the service to the Regions and the borrowers.

In 1991, following the appointment of World Bank President Lewis T. Preston, the senior management structure was heavily reorganized, and the Bank's senior vice presidencies were abolished, including OPNSV. As a result, the Economic Advisory Staff (EAS) was terminated, and its staff and functions were absorbed by the new Development Policy Group (DPG) located in the Development Economics Vice Presidency (DEC); the Central Operations Department (COD) was transferred to the Vice President of Sector Policy and Research (OSPVP); and the Vice President of Cofinancing and Financial Advisory Services (CFS) reported to the newly appointed Managing Director Attila Karaosmanoglu. The four RVPs reported to Office of the President (EXC) and the newly established Managing Directors, who served as a broad administrative oversight team that supported the President. The Office of the Management Systems and Budget (OPNMS) of the OPNSV Front Office was terminated, and the Operations Information Services Division (OPNIS) functions were split between the new Information Services Division (CODIS) in the Central Operations Department (COD) and the Budget Policy and Systems Division (PBDPS) in the Planning and Budgeting Department (PBD).

The Sector Policy and Research Vice Presidency (PREVP), later renamed the Sector and Operations Policy Vice Presidency (OSPVP), was established in May 1987, and reported to the Senior Vice President of Policy, Planning, and Research (PPRSV) or PPR Complex. The PREVP oversaw sector departments that were responsible for policy creation and analysis, support for operations, and sectoral research for emerging priority areas of the Bank. This fonds encompasses only the office of PREVP; see "Related units of description" section below for the location of records related to PREVP's subordinate sector departments.

The PREVP was created as part of the general Bank reorganization in 1987. It assumed some of the responsibilities previously located in the Operations Policy Vice Presidency (OPSVP) of the former Senior Vice Presidency of Operations (SVPOP). OPSVP's responsibilities had included overseeing a broad set of functions related to operations policy, country policy, sector policy, sector research, quality control, liaison, and operational support and advice. However, only the sector departments reporting to OPSVP that were responsible for sector policy creation and analysis, operations support, and sector research were transferred and placed under the oversight of PREVP. The remaining OPSVP functions were absorbed by the Central Operations Department (COD) and the Economic Advisory Staff (EAS) of the new Senior Vice President of Operations (OPNSV).

PREVP's primary functions were to lead, review, and disseminatethe policy and research work of the sector departments. Its responsibilities also included: advising the Senior Vice President, Policy, Planning and Research on Bank-wide sector strategies and objectives; strengthening the effectiveness of the Bank's policy advice to member countries; and maintaining strong links to the Operations Complex to ensure the operational relevance of its outputs.

The following sector departments reported to the PREVP: the Agriculture and Rural Development Department (AGR); the Environment Department (ENV); the Population and Human Resources Department (PHR), which absorbed the functions of the former Population, Health, and Nutrition Department (PHN) and the Education and Training Department (EDT); the Infrastructure and Urban Development Department (INU), which absorbed functions of the former Water Supply and Urban Development Department (WUD) and the Transportation Department (TRP); and the Industry and Energy Department (IEN), which absorbed the functions of the former Energy and Industry Vice Presidency (EIS).

The PREVP was led by Vice President Visvanathan Rajagopalan.

In January 1990, as part of restructuring the PPR Complex, the PREVP acronym was changed to PRSVP. The new PRSVP reported to the renamed Senior Vice President of Policy, Research, and External Affairs (PRESV).

In December 1991, President Lewis Preston's re-organization abolished all Senior Vice Presidencies. As a result, the PRESV and the subordinate PRSVP were terminated. The PRSVP was replaced by the short-lived Sector and Operations Policy Vice Presidency (OSPVP). The new OSPVP absorbed the sector departments responsible for sector policy, research, and operational support from the former PRSVP. It also absorbed some functions of the former Senior Vice President of Operations (OPNSV), including operations policy and procurement policy functions of the Central Operations Department (COD). It also absorbed the Secretariat of the Consultative Group for International Agricultural Research (CGIAR) from the former PRESV. The responsibilities of OSPVP included:

• ensuring Bank investment operations are guided by a robust and workable framework of guidelines, policies, and procedures;

• ensuring the Bank's sectoral and cross sectoral/functional expertise (e.g. project finance, economics, procurement) remains at the leading edge and incorporates lessons of the Bank's experience;

• supporting the achievement of quality assurance for Bank operations consistent with full accountability of the Regions for all operational decisions;

• enabling the Bank to investigate and evaluate the potential relevance of new lines of sectoral business; and

• ensuring sectoral policies are closely aligned with policies for macro-economic management.

The following departments reported to OSPVP: the Central Operations Department (COD); the Agriculture and Rural Development Department (AGR); the Environment Department (ENV); the Industry and Energy Department (IEN); the Infrastructure and Urban Development Department (INU); and the Population and Human Resources Department (PHR). The OSPVP Front Office included the following units: the Office of the Assistant to the VP (OSPAV); the Sector Library (OSPSL); the Secretariat of the Consultative Group on International Agricultural Research (CGIAR); and the Energy Sector Management Assistance Programme (ESMAP).

The OSPVP was led by Vice President Visvanathan Rajagopalan and supported by Director David Bock.

On January 1, 1993, as part of a larger initiative to align the Bank's organization with the priority areas of its poverty reduction effort, the OSPVP was terminated. The departments of OSPVP were divided between three thematic vice presidencies: the Human Resources Development and Operations Policy Vice Presidency (HRO); the Finance and Private Sector Development Vice Presidency (FPD); and the Environmentally Sustainable Development Vice Presidency (ESD).

The financial policy, planning, and budgeting function of the World Bank Group is, alongside Resource Mobilization, Controller, and Office of the Treasurer, one of the four components of the Bank's Finance Complex. The financial policy, planning, and budgeting function includes: managing the Bank's strategic capital adequacy with respect to IBRD capital subscription; coordinating and reviewing the planning and programming of World Bank Group activities from a financial perspective; supporting management and resource allocation decisions at both senior management and departmental levels; and instituting and implementing procedures for World Bank wide budgetary controls.

Responsibility for these functions have most often been maintained in the various iterations of the Planning and Budgeting Department and the Financial Analysis Department. At different times these units were combined or reported to or alongside one another. For the majority of their existence these units reported to the Finance Vice President, Finance Senior Vice President, or Chief Financial Officer.

1967-1980

During the World Bank's first two decades, the Bank was small and centralized enough that the institution could essentially be managed from the President's Office or by the President's closest deputies. Planning and budgeting oversight and review were carried out in a variety of World Bank departments and Vice Presidencies, including the Administration Department (ADM) and Controller's (CTR) which in turn reported to the President'sOffice. However, as Bank operations and budgets grew throughout the 1960s, a unit that centralized activities of financial policy, planning, and budgetary control was deemed necessary. This resulted in the creation of the Program Evaluation and Control Department (PEC) in February 1967, the first unit responsible for the systematic programming and budgeting function. PEC was established to improve the President's control over the use of the Bank's manpower and financial resources and his ability to monitorthe effectiveness of the Bank's programs. As such, PEC reported directly to the Office of the President (EXC). The Department's specific responsibilities included:

• making continuous reviews of the effectiveness of the Bank's major functions;

• analyzing financial and other implications in terms of human and material resources required;

• monitoring the efficiency and economy of the Bank's organizational structure, its operating procedures, and use of manpower;

• instituting procedures for effective budgetary control;

• preparing the annual budgets for the World Bank Group; and

• conducting internal audits and arranging external studies to determine whether accounts and records conform to established policies.

John H. Williams was named the Director of PECin 1967.

Following the appointment of Robert McNamara as World Bank Group President in 1968, PEC was terminated and replaced by the new Programming and Budgeting Department (PAB) and John H. Adler was named PAB Director. The focus of the new PABwas initially narrowed, as activities related to organizational structure monitoring were returned to ADM. However, PAB's remaining work was intensified, as it took on the responsibility for developing and evaluating the 5-year programs for the Bank as well as the review of Country Program Papers (CPPs), the Bank's annual country economic review and planning profile. And while the new PAB reported to the Finance Vice President Siam Alderwereld, it also became an important resource and tool of the new President, serving as a quasi-secretariat to the President and his Council.

During a significant reorganization of PAB in July 1971, the Department's activities relating to planning and financial policy were expanded considerably, as it was agreed that PAB should take the lead in modifying and improving the projection capabilities of the Bank. Most notably, some of the responsibilities of the Statistical Services Division (ECDSS) which had previously resided in the Economics Department (ECD), the Bank's research department, were transferred into PAB. ECDSS's Financial Projects Unit, which had been responsible for making projections of the Bank's cash flows and financial condition, became the new Financial Projections and Special Projects Division (PABFP) within PAB; Jean-Claude Dumoulin was named the first Chief of PABFP. ECDSS's other section, the External Debt Unit, was located for a short time in PAB as the Indebtedness Unit before being transferred to the Economic Programming Department (EPD) in the Bank's new research unit, the Development Policy Vice Presidency (VPD).

Following the 1971 reorganization, PAB consisted of formal divisions for the first time. In addition to PABFP, it consisted of: the Budget Division (PABBG); the Program and Operations Review Division (PABPO); and the nascent Operations Evaluation Department (OED, later the Independent Evaluation Group [IEG]).

In July 1973 the Operations Evaluation Division (PABOE) was terminated and its functions were reestablished in the new and independentOperations Evaluation Department (OED). In February 1974 the Program and Operations Review Division (PABPO) was split into a Country Program Review Division (PABCP) and an Operations Review Division (PABOR). In September of 1974 the new PABOR was terminated and its functions were integrated into the renamed Budget and Operations Review Division (PABBG).

On April 1, 1974 the Financial Projects and Special Studies Division (PABFP) was reorganized into the Financial Analysis Division (PABFA). Later that year, a new Loan Portfolio Analysis Unit (PABLP) was established in PAB to analyze the changing composition of the Bank's loan portfolio and the creditworthiness of borrowing countries and to determine effects on the Bank's financial position and standing in the financial markets.

A 1975 Organizational Manual Statement on the Programming and Budgeting Department (PAB) described the unit as "a support department responsible for coordinating and consolidating the plans, programs, and budgets of the Bank Group, and for providing related flows of information and analyses to the President, the President's Council and Departmental Managers."

In June of 1976, the various changes to the Programming and Budgeting Department (PAB) in previous years were clarified by the creation of two new Assistant Directors in the Department. John G. N. Blaxall, the new Assistant Director, Programming and Budgeting and CPP Review, was given responsibility for the Budget and Operations Review Division (PABBG) and the CPP Review Division (PABCP) as well as a Systems Development Unit and an Overseas Mission Unit. The responsibilities of these units included:

• coordinating and consolidating the five-year plans, work programs, and administrative budgets of the Bank Group within the framework of Bank Group financial policies and constraints; and

• undertaking such reviews and analyses as are necessary to ensure the effective and efficient execution of the Group's plans, work programs, and budgets.

D. Joseph Wood was named the new Assistant Director, Financial Analysis, and was made responsible for the Financial Analysis Division (PABFA) and the new Financial Studies Division (PABFS). The responsibilities of the PABFA included:

• analyzing the Bank Group's financial position;

• making appropriate medium- and long-term financial projects;

• and preparing financial policy recommendations for review by senior management.

The PABFS's responsibilities included:

• analyzing the implications of changes in the international financial environment of Bank Group financial policies and on the access to capital, both private and official, by the Bank and its borrowers;

• recommending policies, programs, and strategies that will enable the Bank and its borrowers to secure the finances they require;

• and providing related flows of information and analyses to the President, the President's Council and Departmental Managers.

The two Assistant Directors worked in close coordination on financial policy implications for Bank operating programsand budgets.

Note that, while the PABFA provided support for IDA replenishment negotiations since 1974 and were given greater responsibility in this area in 1976, this arrangement was temporary. In 1987, support of IDA replenishment negotiations was moved into the new Resource Mobilization Department (FRM). IDA replenishment support has since been grouped alongside trust fund and cofinancing support and administration as part of the Bank's Resource Mobilization function.

On January 1, 1977, K. Georg Gabriel took over as the Director of PAB for John H. Adler, who had served in the role for over eight years.

1980-1983

In 1980, the financial policy functions located in the Financial Analysis Division (PABFA) and the Financial Studies Division (PABFS) were removed from the Programming and Budgeting Department (PAB). A new independent unit, the Financial Policy and Analysis Department (FPA), was created and began reporting directly to the new Senior Vice President, Finance (SVPFI). This upgrade to anindependent department was in response to the increased importance of the financial policy function in an environment of greater financial resource constraints. D. Joseph Wood was named the first Director of the new FPA. As in its PAB iteration, the new FPA consisted of a Financial Analysis Division (FPAFA) and Financial Studies Division (FPAFS). Together their responsibilities included:

• performing analytical work on Bank financial policies, and supporting the Senior Vice President, Finance in such keyactivities as IDA replenishment negotiations, IBRD capital increases, and analyzing the financial impacts of new initiatives;

• producing long-term financial projections and plans beyond a one-year horizon;

• assessing and managing financial risks; and

• providing support to Operations in areas involving financial analysis.

The Programming and Budgeting Department (PAB) had, since its creation in 1968, reported directly to the Vice President, Finance (VPF). However, amidst the various organizationalchanges of 1980, PAB reported to the new Vice President, Programming and Budgeting, Pension Fund (PBPVP) which, in turn, reported to the Senior Vice President, Finance (SVPFI). For the next three years PAB reported to the PBPVP alongside the new Staff Retirement Plan Office (SRP). Heinz Vergin led the PAB during this period. PAB's 1980 reorganization was the beginning of a move towards decentralization of the programming and budgeting function, as the Bank's operational units and Accounting Department weregiven greater roles in determining and creating budgets; the overall effect for the central PAB unit was that it was significantly weakened.

1983-1987

In 1983, the financial policy unit and planning and budgeting unit were reunited. However, instead of a reporting relationship, the two now coexisted within the new Financial Policy, Planning and Budgeting Vice Presidency (FPBVP). The objective of reintegrating the activities of the Financial Policy and Analysis Department (FPA) and the Planning and Budgeting Department (PBD) under one senior manager was to strengthen the Bank's capacity for prospective analysis and to implement a Bank-wide strategic planning initiative and an even more decentralized planning and budgeting process. FPBVP was led by D. Joseph Wood and reported to the Senior Vice President, Finance (SVPFI).

At the point that the FPA began reporting to the new FPBVP in 1983, D. C. Rao was named D. Joseph Wood's replacement as Director of FPA. The FPA consisted of the Financial Analysis Division (FPAFA) and the Financial Studies Division (FPAFS). A Policy Analysis Division (FPAPA) was established soon after. In February 1984, the Financial Analysis Division (FPAFA) and the Policy Analysis Division (FPAPA) were replaced by the Financial Management and Analysis Division (FPAMA) and the Financial Policy and Planning Division (FPAPP), respectively.

During the 1983 reorganization the PBD underwent restructuring in order to implement the more decentralized programming and budgeting process envisioned by new Bank President Alden W. Clausen. The Department took on most of the functions of its prior iteration, but within a system that decentralized more programming and budgeting responsibilities to the Bank's individual vice presidencies, thus allowing PBD to focus more broadly on the Bank as a whole. As such, the Department was responsible for:

• coordinating and supporting the Bank's planning and resource allocation processes, including the formulation of budgetary policies, to ensure the efficiency and effectiveness of resource utilization; and

• monitoring and supporting the country assistance planning and programming process, including standards employed in the analyses of country creditworthiness and IBRD portfolio risk.

At the time of its establishment, the PBD consisted of the following divisions: the Programming and Budgeting Division (PBDPG); the Country Program Review Division (PBDCP), and the Management Systems Division (PBDMS). In April 1984, the Department was realigned. PBDMS was terminated and the division's staff were assigned to the newly-established Institutional Planning Division (PBDIP) and were charged with setting up a Bank-wide institutional planning process and providing staff support for the "Future Role of the Bank" exercise. At the same time, the Programming and Budgeting Division (PBDPG) was renamed the Budget Policy and Review Division (PBDBP). In August of 1984, an Institutional and Financial Systems Unit (PBDIF) was established in the Department's Front Office.

Heinz Vergin continued to lead PBD until 1984 when he was replaced by Shinji Asanuma.

1987-2003

A 1987 Bank-wide reorganization separated the financial policy function and the planning and budgeting function; they would not be reunited again until 2003. The history of each function is presented separately during this period.

Financial Policy (1987-2003)

As part of the 1987 reorganization, the Financial Policy, Planning and Budgeting Vice Presidency (FPBVP) that consisted of the Financial Policy and AnalysisDepartment (FPA) and the Planning and Budgeting Department (PBD) was terminated. The Financial Management and Analysis Division (FPAMA) and the Financial Policy and Planning Division (FPAPP) of FPA were reorganized into the Risk Management and Financial Policy Department (FRS), which was led by D. C. Rao. The Financial Studies Division (FPAFS), which provided support for IDA replenishment negotiation, was absorbed by the new Resource Mobilization Department (FRM); note that FRM was responsible for overseeing policy development related to IBRD capital subscription during this period. Together the FRS and FRM reported to the new Vice President of Financial Policy and Risk Management (FPRVP), which reported to the new Senior Vice President of Finance (FINSV). D. Joseph Wood was named Vice President of the new FPRVP.

The new FRS was responsible for identifying and managing financial risks to the World Bank in order to maintain and promote the Bank's financial viability to effectively serve the long-term development objectives of its members. It was also responsible for evaluating country creditworthiness, advising Senior Management on strategies for managing risk in individual countries, and analyzing the portfolio risk implications of Bank lending programs. FRS consisted of three divisions: Financial Policies and Projections (FRSFP); Risk Management and Financial Policy (FRSDR); and Country Creditworthiness (FRSCR). Note that from this point, risk management and assessment is a predominant aspect of the financial policy function. Activities supporting this function were undertaken over the course of the previous decades, but with the creation of the FPRVP, it was prioritized. The four major types of financial risk relevant to the Bank were: country credit risk, or loan portfolio risk; market risk (i.e. interest rate and exchange rate); liquidity risk; and operational risk.

FRS underwent no significant changes in its organization or reporting relationship until 1996. Everardus J. Stoutjesdijk took over as Director of FRS in 1990. Mieko Nishimizu replaced him in late 1991 or early 1992 and Brian Wilson replaced Nishimizu in 1995.

In 1996 the Vice President of Financial Policy and Risk Management (FPRVP) was terminated when the Resource Mobilization Department (FRM) was removed and combined with the Cofinancing and Project Finance Department to form the new Resource Mobilization and Cofinancing Vice Presidency (RMCVP). The financial policy and country creditworthiness and risk functions of the former Risk Managementand Financial Policy Department (FRS) were relocated along with the Institutional Change and Strategy Department (ICD) into the new, but temporary, Financial Policy and Institutional Strategy Vice Presidency (FPIVP), the Bank's organizational planning unit.

In 1997 a new Vice Presidency, Financial Policy and Risk Management (FPRVP) was created. It maintained a divisional structure consistent with its recent predecessors, consisting of a Country Creditworthiness and Risk unit and a Financial Policy and Projects unit. FPRVP was led by Brian Wilson and reported to Managing Director Jessica Einhorn.

In 1999, responsibilities of the FPRVP were reorganized into the new Corporate Finance (FIN) unit that reported to the restored Senior Vice President and Chief Financial Officer (CFO) alongside the Offices of the Treasury (TRE) and Controller (CTR). The Corporate Finance unit temporarily consisted of four units: Corporate Finance (FINCF); Credit Risk (FINCR); Risk Management (FINRM); and Financial Products and Services. At some point towards the end of 2000 or beginning of 2001, the Financial Products and Services unit was removed.

Planning and Budgeting (1987-2003)

Following the termination of the Financial Policy, Planning and Budgeting Vice Presidency (FPBVP) in 1987, the Planning and Budgeting Department (PBD) was removed from the Finance Complex and transferred to the new Policy, Planning and Research Complex (PPRSV) alongside such vice presidencies and departments as the Development Economics Vice Presidency (DECVP), the Sector Policy and Research Vice Presidency (PREVP), and the Strategic Planning and Review Department (SPR). Robert Piciotto was named Director of the PBD. The aim of consolidating these various units beneath a single umbrella was to systematize and strengthen the Bank's strategic planning process by integrating the previously fragmented research, policy and strategic planning functions. The central planning and budgeting function of PBD was strengthened somewhat and its analytical functions began to recover.

Not all of PBD's functions were maintained following its transfer to the PPRSV. The Institutional and Financial Systems Unit (PBDIF) was transferred to the front office of the Senior Vice President, Finance (FINSV) and the activities of the Institutional Planning (PBDIP) and Country Program Review (PBDCP) Divisions were integrated with those of the new Strategic Planning and Review Department (SPR). PBD emerged from the 1987 reorganization with divisions for Budget Policy and Review (PBDPR) and Budget Planning and Systems (PBDPS). In September 1988, these two remaining divisions were restructured into the Budget Formulation and Review (PBDFR) and the Budget Planning and Policy (PBDPP) Divisions, respectively.

Significant change again occurred with regard to the Bank's Planning and Budgeting function in January 1990. The Planning and Budgeting Department (PBD) was terminated and its functions were subordinated to the new Vice President, Corporate Planning and Budgeting (CPBVP), which reported directly to the Office of the President (EXC). The CPBVP also consisted of an Organization Planning Staff unit (ORG) and the Internal Auditing Department (IAD). Robert Piciotto was elevated to CPB Vice President; PBD did not have a Director for the following year.

In June of 1990, the Planning and Budgeting Department (PBD) was reconstituted within CPBVP. At this point it regained responsibilities for program review and institutional planning. The functions of the reorganized PBD included:

• designing and operating a collaborative and integrated process of setting goals, priorities, programs and budgets throughout the Bank;

• producing annual plans and budget documents submitted to the Board for review and approval;

• advising senior management on resource allocation issues;

• supporting other Bank units in preparing plans, programs, and budgets and in evaluating performance; and

• identifying opportunities for improvement in Bank-wide planning, budgeting and implementation processes, enhancing transparency, effectiveness, and efficiency of resource allocation processes, and monitoring of resource use.

In 1991 Richard B. Lynn was named Director of the Planning and Budgeting Department (PBD).

In the summer of 1992, the CPBVP was terminated and the Planning and Budgeting Department (PBD) was returned to the Financial Complex (FINSV). However, it was placed in the Vice President and Controller (CTRVP) alongside its Accounting (ACT), Loan (LOA), and, later, Internal Auditing (IAD) departments. PBD's responsibilities did not change significantly, as reflected in the title of its three divisions: Budget Policy and Systems; Corporate and Budget Planning; and Program and Budget Review. However, PBD's role during this period was essentially subsumed within the Controller's function of financial administration, as it oversaw budget processes and served as a data manager, while program and budget decisions were made by executive fiat based on PBD analysis.

The organizational components and reporting relationship of PBD remained unchanged from 1992 until 1996 when it was removed from the CTRVP. It appears that, through 1996 and early 1997, PBD reported directly to the Office of the President (EXC). In 1997 it was placed in the new Strategy and Resource Management Vice Presidency (SRMVP) along with the Strategy, Change and Partnership Groups that had previously been located in the Financial Policy and Institutional Strategy Vice Presidency (FPIVP). The SRMVP reported to Managing Director Sven Sandstrom. This reorganization was motivated by a need for a top-down review and change program focusing on the Bank's budget; this undertaking took the form of the Strategic Compact (1997-1999). The Strategic Compact, a senior management review, focusedon: strategic priorities and selected efficiencies based largely on PBD advice; the Bank's top-down resource allocation and business planning process; and analytical capabilities with an emphasis on productivity.

Achim von Heynitz replaced Richard B. Lynn as Director ofthe Planning and Budgeting Department (PBD) in 1997. In 1998 the Planning and Budgeting Department was renamed the Corporate Resource Management Group (CRM). The SRMVP was led first by Mark Baird from 1997 to 1999 and then by Anil Sood from 1999 to 2003.

2003-2006

In 2003 the financial policy and planning and budget functions were reunited in the form of the Strategy, Finance, and Risk Management Vice Presidency (SFRVP). The reunion of these functions acknowledged the dependency between those responsiblefor articulating the Bank's strategy and programming and those responsible for ensuring that proposed business models are funded sustainably. It was also acknowledged that, while the units of the new SFRVP support and work closely with units throughout the Bank, such as operations, organizational planning, and treasury, they also had a strong business reason to remain independent from them.

SFRVP's functions were carried out in four departments. The Corporate Strategy and Integrated Risk Management Department (SFRSI) provided independent, Bank-wide perspective on the strategic and financial aspects of the Bank's business, combining the elements of corporate strategy, risk management, financial policy, and budget management. The Corporate Resource Management Department (SFRRM), or budget department, aligned resources to strategy, operations, and other programming. The Corporate Finance Department (SFRCF) supported the Bank's senior management, the Board, and the institution as a whole by providing review ofcapital deployment and ensuring the Bank's standing as a AAA-rated institution. Finally, the Credit Risk Department (SFRCR) analyzed and managed the Bank's credit risk exposure.

John Wilton was named Vice President of SFR.

2006-2009

In 2005 a Budget Reform process was initiated in order to make the budget process more efficient, less complex, and more results- and performance-based. One of the results of this Reform was the 2006 termination of the SFRVP and the separation of financial policy and risk management functions from the planning and budgeting functions. Functions related to the former were placed in the Office of the Chief Financial Officer; units included the Corporate Finance Department (FINCF) and the Credit Risk Department (FINCR). Planning and budgeting activities related to strategic allocation of resources were once again placed alongside the Bank's Accounting and Loan Departments in the new Controllers, Strategy and Resource Management Vice Presidency (CSRVP). As in its previous iteration within the Controller Vice Presidency (1992-1996), the planning and budgeting function was reduced in scope, as it appears to have provided only budget process supervision and support. Fayezul Choudhury led the CSRVP.

2009-2016

With the creation of the Corporate Finance and Risk Management Vice Presidency (CFRVP) in 2009, the model for finance management from 2003 to 2006, including policy, risk management, and budget planning, was restored. The objective was that, by restoring the higher level of management, oversight of risk management and supervision of financial activities would be strengthened. Three departments similar to those that made up the earlier Strategy, Finance, and Risk Management Vice President (SFRVP) were created: Corporate Planning and Analysis Department (CFRPA); Corporate Finance Department (CFRCF); and Credit Risk Department (CFRCR). The priorities of the department were, as they were from 2003 to 2006, to manage risk from the balance sheet perspective, maintain a sustainable financial framework, and manage administrative expenditures. CFR Vice President Fayezul Choudhury reported to the Chief Financial Officer (CFO).

In 2010 the World Bank President announced the creation of the World Bank Group Chief Risk Officer (CRO). Reporting to the Chief Financial Officer (CFO) and supplementing the risk management work of the FINCR, the CRO was responsible for:

• assessing risks across the World Bank Group including possible interactions among types of risk;

• benchmarking existing riskmanagement practices against major financial institutions;

• ensuring consistency of World Bank Group risk management activities with best practice; and

• considering unique risks that are specific to multilateral development banks and international financial institutions.

Robert Kopech was named the first Chief Risk Officer in January 2011. Kopech was replaced by Lakshmi Shyam-Sunder in 2014; she continues to report to the World Bank Group Chief Financial Officer (CFO) as of 2016.

In 2013 Managing Director and Chief Financial Officer (CFO) Bertrand Badre reorganized the various policy, risk management, and budget planning functions within the Bank's Finance Complex. A new Budget, Strategic Planning, and Performance Review Vice Presidency (BSPVP) was created which included the Budget Department as well as the Resource Management Network and General Services Department. Pedro Alba was named Vice President for BSPVP. The BSPVP is still operational as of 2016.

Also in 2013, a new Financial Strategy Group (FSG) was created that pulled together corporate finance, organizational modeling, and financial analytics functions from across the World Bank Group, including the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). FSG was responsible for developing a business model and identifying options for strengthening the financial sustainability and delivery capacity of the IBRD, IDA, IFC, and MIGA. FSG was co-led by Lisa Finneran and Avi Hofman.

The following year, the Financial Strategy Group (FSG) joined the Concessional Finance and Global Partnerships Vice Presidency (CFPVP), formerly responsible for IDA replenishment, trust fund, and cofinancing related functions, to form the Development Finance Vice Presidency (DFiVP) led by Joachim von Amsberg. Financial management-related activities formerly located in the FSG were placed in the IBRD Corporate Finance Department (DFiCF) alongside the World Bank Trust Funds and Partnerships Department (DFPTF), IDA Resource Mobilization (DFIRM), and Development Partner Relations Department (DFDPR). DFiCF supports senior management and the World Bank Board in IBRD's financial management by recommending and facilitating policies and strategies related to medium-term capital planning, overall balance sheet management, and annual decisions on loan terms and income allocation. Activities include:

• monitoring the Bank's income and balance sheet variables and key sensitivities over the near-term and the medium-term;

• managing the Bank's strategic capital adequacy and developing strategies for optimal use of capital;

• determining balance sheet management approaches that support the development mission and the institution's financial strength; and

• assuring capacity to understand and resolve issues of income allocation, financial product pricing, and capital structure and adequacy.

Axel van Trotsenburg replaced Joachim von Amsberg as Vice President of the Development Finance Vice Presidency (DFiVP). The Vice Presidency continues to report to the World Bank Group Chief Finance Officer (CFO) as of 2016.

Desmond McCarthy was born in Cork, Ireland on December 2, 1936. He received a B.E. Electrical Engineering from National University of Ireland in 1958, followed by a PhD in Electrical Engineering from New York University in 1966 and an M.S. Economics from the Massachusetts Institute of Technology (MIT) in 1975. He subsequently spent time as a researcher at MIT prior to joining the World Bank.

McCarthy joined the World Bank in June 1981. During his 18 years as a staff member and ten more as a consultant, McCarthy held various positions in the operational, policy, research, and evaluation units of the Bank.

In 1981 McCarthy was an Economist in the Comparative Analysis and Projections Division of the Economic Analysis and Projects Department (EPDCA). The EPD was located in the Development Policy Vice Presidency (VPD), the Bank's research arm; it was transferred, along with most VPD functions, into the new Economics Research Staff (ERS) Vice Presidency in 1982. The EPD was primarily responsible for reviewing the Regional Vice Presidency's country economic analyses and programs and developing and operating macro-economic data systems related to national accounts, debt, capital flows, and trade.

In 1983 McCarthy joined the Country Policy Department (CPD). CPD was located in the Bank's Operations Policy Vice Presidency (OP), although it had previously been located in the Development Policy Vice Presidency (VPD). CPD focused on country policy and strategy and was primarily responsible for improving country and economic sector work in Bank lending operations.

In 1985 McCarthy entered the Bank's operations complex for the first time when he joined the Latin America and the Caribbean Vice Presidency (LCN) as a Senior Economist in the River Plate and Bolivia Division (LC2PB). He soon after moved into the Argentina Division (LC2AR) where he was the country economist for Argentina. Following the Bank-wide 1987 reorganization, McCarthy remained a Senior Economist in LCN but moved into the Country Operations Division of the Country Department responsible Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, and Panama (LC2CO).

In 1988 McCarthy returned from the operations complex to the research arm of the Bank, called the Development Economics Vice Presidency after 1987. He would remain there until his retirement. His first position upon his return was in the newly established International Economics Department (IEC); the IEC had been created in the 1987 reorganization and had assumed some of the functions of the EPD. McCarthy was located in the International Economic Analysis and Prospects Division (IECAP) where he soon gained the title of Principal Research Economist.

In 1992 McCarthy moved into the new Development Policy Group (DPG) as an Economic Adviser. The DPG had previously reported to the Senior Vice President of Operations (OPNSV) in the form of the Economics Advisory Staff; it had advised the office on matters related to Country Strategy Papers (CSPs) and adjustment loans. Upon the termination of the OPNSV in 1991, it was placed in the DECVP but maintained its prior responsibilities.

Between 1993 and 1999 McCarthy served as Economic Adviser first to the DECVP and then to the Development Research Group (DECRG).

McCarthy retired from the Bank in 1999 but served as a consultant for the Bank in a variety of capacities over the subsequent decade. Units in which he served include: DECVP; the Office of Operations Evaluation (OED); the Operations Policy and Strategy Vice Presidency (OPS); the Health, Nutrition, and Population Team in the Human Development Network (HDNHE); and the Quality Assurance Group (QAG). McCarthy's last consultancy with the World Bank ended in 2010.

This fonds contains the records of the World Bank Group units responsible for donor-based resource mobilization functions related to cofinancing, trust funds, and International Development Agency (IDA) replenishments. The fonds does not include records related to the Bank's traditional resource mobilization efforts of acquiring IBRD financing through the world's financial markets because the function does not share a provenance with the units described. This administrative history describes the provenance of the administrative units for cofinancing, trust funds, and IDA replenishments separately. After 1996, the functions merged under one vice presidency. As a consequence, the post-1996 section focuses on all functions together.

Cofinancing

Cofinancing is defined as additional funding sought by borrowing member countries from external sources outside of the World Bank. Cofinancing is meant to supplement funding resources provided by the World Bank (e.g. IBRD/IDA loans, credits, and grants), which may fall short of the funding needs for projects and programs associated with a borrowing member country. Cofinancing funding is sought by the Bank and its member countries from the following external official and private sources: agencies or government departments administrating bilateral development programs; multilateral agencies such as regional development banks; export credit agencies; and commercial banks. Cofinance funding is administered through two types of financing methods: 1) parallel cofinancing, in which the Bank and cofinanciers finance different goods and services or parts of the project; and 2) joint cofinancing, in which the Bank and cofinanciers finance expenditures from a common list of goods and services in agreed proportions, which adhere to the Bank's procurement guidelines. Cofinancing activities were developed in the Bank to help mobilize additional funding for sector-oriented programs and projects, fill funding gaps, and also foster greater international coordination to respond more rapidly to global macro-economic crises.

The first use of cofinancing in Bank operations was a joint cofinancing agreement drafted for the Mexico Power Sector Program in 1966. Initial Bank loans fell short of financing needs for projects under this program, so external funding sources were sought and renegotiated by members of the Bank's Loan Committee, cofinanciers, and the Government of Mexico. Similar agreements were negotiated thereafter for other programs and projects, including a parallel cofinancing agreement negotiated between the Bank, cofinanciers, and the Brazilian Government related to steel industry projects in 1971.

The use of cofinancing to mobilize resources significantly increased in World Bank operations during the oil and energy crisis that began in 1973. In this period, Arab/OPEC multilateral institutions emerged as a primary contributor for providing cofinancing sources. Newly founded regional multilateral institutions such as the Inter-American Development Bank, the Asian Development Bank, and the African Development Bank also emerged as valuable multilateral cofinancing partners.

In 1975, the Bank's cofinancing functions were formalized with the establishment of the Senior Adviser for cofinancing in the Front Office for the Senior Vice President of Operations (SVPOP). Regional Cofinancing Coordinators (RCC) were also established in the six Regional Vice Presidencies (RVP). The Senior Adviser for Cofinancing took lead responsibility in Bank-wide overall planning, policy making, communication, coordination, and monitoring of cofinancing operations. The RCCs were given line responsibilities of identifying operations to be cofinanced and arranging cofinancing with official sources in the Regional Programs Departments (RPD). The RCCs were also responsible for arranging cofinancing with export credit and commercial banking sources for the Regional Projects Departments. Roger Hornstein served as the Senior Adviser for Cofinancing.

In 1981, Frank Vibert succeeded Roger Hornstein as Senior Adviserfor Cofinancing in the SVPOP Front Office.

Demand for cofinancing sources grew in the late 1970s and the early 1980s with the ongoing oil crisis and emerging debt crisis. This demand strained the limited cofinancing operations in the Bank. As a result, the Vice President of Cofinancing (VPCOF) was established in May 1983. Teruyuki Ohuchi served as Vice President for VPCOF. The new VPCOF reported to the Senior Vice President, Operations (SVPOP). The VPCOF was created to strengthen and expand the Bank's cofinancing operations as a means to maintain and increase international capital flows to developing countries in times of constrained financial resources. The RPD retained line responsibilities for identifying and arranging cofinancing and also for arranging cofinancing for commercial and export credit sources. A new Regional Cofinancing Advisor was also established who would have functional control for cofinancing activities in the Region. The VPCOF was given responsibilities for:

• maintaining top-level contacts and promotion with cofinanciers;

• developing new cofinancing tools; and

• planning, coordinating, and monitoring the Bank's overall cofinancing program.

The VPCOF included the subordinate Cofinancing Advisory Unit (VPCAU), which was staffed by cofinancing advisers with expertise in commercial banking, export credits, and official financial sources.

During the establishment of VPCOF, the Japanese government emerged as the largest cofinancing contributor to the Bank by launching a number of cofinancing programs through the Overseas Economic Cooperation Fund (OECF), Japan's development aid agency, as well as the Export-Import Bank of Japan (UEXIM). This marked the beginning of strong Japanese leadership in the Bank's cofinancing operations, which extended from the 1980s into the early 2000s.

In 1983, the Bank's "B-Loan" program was launched to expand private cofinancing efforts and channel commercial bank resources to Bank operations. Shortly after, multilateral, bilateral, and export credit agency cofinancing programs were launched as part of the Japanese Grant Facility (JGF, later renamed the Japanese Policy and Human Resources Development [PHRD] Fund). In 1985, the multi-country official cofinancing (bilateral and multilateral) programs, the Special Facility for Sub-Saharan Africa (SFA) and the Consultant Trust Fund (CTF) Program, were launched.

In June 1986, Teruyuki Ohuchi was succeeded by Kunihiko Inakage as Vice President for VPCOF. In the May 1987 Reorganization, the Cofinancing Vice Presidency remained structurally unchanged but new acronyms were assigned to the Office of the Vice President (COFVP) and to the Cofinancing Advisory Unit (COFAU).

In June 1989, the COFVP was terminated and its functions were combined with the former Vice President of Financial Intermediation (VPFIS). This merger broadened cofinancing functions to include technical assistance in debt management and resource mobilization. The new combined VP was renamed the Vice President of Financial Intermediation and Cofinancing (CFSVP). The CFSVP reported to the Senior Vice President, Operations (OPNSV). CFSVP responsibilities included:

• assisting member countries in restructuring debt;

• assisting member countries with deregulation, public sector restructuring and privatization;

• advising member countries on management of their foreign financial assets and liabilities;

• procuring cofinancing arrangements from commercial and public sources;

• developing a Bank-wide strategy and capability for dealing with privatization requests; and

• developing new lending products to mobilize financial resources in commercial markets.

At the time of its establishment, the CFS had one subordinate unit, the Cofinancing and Financial Advisory Services Department (CFS), which incorporated the financial engineering functions of the former Debt Management and Financial Advisory Department (DFS) formerly located in the Vice President of Financial Intermediation (VPFIS), as well as most of the staff of the former CofinancingVice Presidency (COFVP). CFS consisted of the following units: the Cofinancing Group (CFSCO); the Financial Advisory Services Group (CFSFA); and the Private Sector Development Group (CFSPS). The CFSVP was also supported by a Front Office consisting of advisers in the following areas: commercial finance; official sources; export credits; and banking institutions.

Koji Kashiwaya assumed the role of Vice President for the new CFSVP.

In late 1989, the CFSPS was transferred from the Cofinancing and AdvisoryServices Department (CFS) to the Front Office of the CFSVP. In December 1990, the CFS Department was restructured, splitting the CFSCO into the new Official Cofinancing Group (CFSOC), and the new Private Cofinancing Group (CFSPC). In this same year, the Expanded Cofinancing Operation (ECO) program replaced the "B-Loan" program.

In 1990, the CFSVP was renamed the Vice President of Cofinancing and Advisory Services (CFSVP).

In February 1992, the CFSVP underwent a comprehensive reorganization to strengthen private sector development work and streamline the process of financial resource mobilization. This entailed building up the cofinancing and financial advisory capabilities in the regional Country Departments, which were given primary responsibility for implementing private sector development programs, and a consolidation of CFSVP's subordinate units. Specific responsibilities included:

• mobilizing official and private equity financing to cofinance Bank supported projects;

• managing and reducing the external debt of heavily indebted countries;

• developing programs for public enterprise divestiture;

• restructuring and privatizing of specific major public enterprises; and

• developing new approaches to attract private sector investment into major infrastructure projects.

The CFSVP restructuring included the merging of CFSPC and CFSPS, as well as some of the functions of the CFSFA, to create the new Private Sector Finance and Advisory Services Group (CFSPS). The responsibilities of the former CFSOC were also redefined and the unit was renamed the Official Cofinancing and Trust Fund Management Group (CFSOC). The remaining functions of CFSFA created the new Project Finance Group (CFSPF).

In April 1992, the CFSPS was further restructured, and became the Private Sector Development and Privatization Group (CFSPS).

In 1994, Hiroo Fukui succeeded Koji Kashiwaya as Vice President for CFSVP.

In March 1996, CFSVP was terminated and the subordinate CFSOC and the CFSPF staff and functions were absorbed by the new Resource Mobilization and Cofinancing Vice Presidency (RMCVP). The CFSPS staff and functions were removed from cofinancing operations and absorbed by the Private Sector Development (PSD) Department located in the Finance and Private Sector Development Vice Presidency (FPDVP).

Trust Funds

A trust fund is a financing arrangement set up with contributions from one or more donors and, in some cases, from the World Bank Group. The Bank establishes and administers trust funds as a complement to IDA and IBRD financing to promote development and aid effectiveness by leveraging its capacity and development knowledge. The Bank encourages trust funds that: draw on its operational role; include contributions from more than one donor; reinforce country capacity and ownership; and promote harmonization and alignment of donor aid modalities. Selectively, the Bank also provides specific administrative and financial services to the international community for trust funds that support work on issues of global importance and where the Bank may not perform an operational role. Trust funds differ to cofinancing arrangements in that trust funds are not limited to being tied to an existing Bank loan or grant for a program or project. Trust funds are also not generally initiated by the recipient member country like cofinancing. Many funds acquired through cofinancing arrangements are distributed into a Bank administered trust fund, but cofinancing arrangements serve as one example of a more restricted type of trust fund. Trust funds have a diversity of arrangements, which provides donors flexibility to target a variety of sectoral, regional, and global initiatives.

The earliest use of trust funds in World Bank Group operations can be traced to 1960 when the Bank administered the multi-donor Indus Basin Development Fund to help finance the Indus Basin Project in Pakistan. In the 1970s, the Bank also served as a financing partner in multiple global programs in partnership, with the United Nations Development Programme (UNDP), the Food and Agriculture Organization of the United Nations (FAO), and the World Health Organization (WHO). The most notable examples were, the Consultative Group on International Agricultural Research (CGIAR), established in 1972, and the River Blindness (Onchocerciasis) Control Program established in 1974.

Significant growth of trust fund mobilization, however, occurred in the early-1980s. At this time, the Bank lacked a formal trust fund administrator or central authority charged with implementing, coordinating, and monitoring trust fund administration, and developing trust fund related policies, guidelines, and procedures. Instead, trust fund administration responsibilities were fragmented among multiple Bank units. In this period, trust funds fell into two broad categories: 1) cofinanced trust funds; and 2) trust funds that are not tied directly to Bank loans (non-cofinanced), but augmented or diversified the sources of funding for a wide range of activities, including studies, institutional development training, and technical assistance.

The first category, cofinanced trust funds, were tied to existing Bank loans or credits, and were arranged either through a joint or parallel cofinancing agreement. Joint cofinancing required an agreement between the Bank and the cofinancier on the expenditure of a common list of goods or services for a project, and abided by the procurement and disbursement procedures of the Bank. Agreed upon joint cofinanced funds were deposited into a Bank administered trust fund. With parallel cofinancing, the Bank and the cofinancier agreed to finance different services, goods, or parts of a project, but the cofinancier was not required to use the procurement and disbursement procedures of the Bank. This allowed for the cofinancier to disburse funds to colenders according to their own procedures, and not have to be part of a Bank administered trust fund. Parallel cofinancing funds were part of Bank administered trust funds, however, if the parallel cofinancing agreement was "untied" and the cofinancier chose to have the Bank administer funds on the cofinancier's behalf.

The second category of trust funds were not tied directly to a Bank loan (non-cofinanced). Instead, the Bank served the role of trust fund administrator either as a fiscal agent or as the Executing Agency for trust funds financed by external donors. Such trust funds included contributions from governments, private foundations, or intergovernmental organizations. Many of these trust funds were either one-time contributions, or were subject to periodic replenishments, and were also free-standing programs with their own independent administration, executive secretariat, committee structure, and funding apparatus (e.g. CGIAR and the Global Environmental Facility [GEF]). Administering trust funds as a fiscal agent simply implied the Bank was responsible for the financial management functions of accounting and disbursement for a trust fund. The role of Executing Agency was more complex in that it included accounting and disbursement functions, but also responsibilities for hiring consultants and consulting of firms, procuring goods, organizing training activities, administering project budgets, and reviewing studies and reports prepared by consultants. The Executing Agency functions not related to financial management were generally handled by program coordinators, project officers, and advisers located in the Bank's sector departments, or country program departments and country project departments located in the Regional Vice Presidencies. An executive secretariat or independent administrative unit was also usually established to administer this type of trust fund.

In 1983, the newly established Vice President of Cofinancing (VPCOF) served as a focal point for the arrangement and management of cofinanced trust funds. VPCOF evolved into the central unit responsible for the management of some of the Bank's largest pooled and multi-donor technical assistance and consultant trust funds. In the early 1980s, the Japanese Government emerged as the largest cofinancier for the Bank and took a strong leadership role in leading cofinancing operations in the Bank. This included the launch of numerous grant-based trust fund programs through their donor agencies, the Overseas Economic Cooperation Fund (OECF) and the Export-Import Bank of Japan (JEXIM). The Japanese led programs were collectively referred to as the Japanese Grant Facility (JGF).

In 1984, the Chief United Nations Development Programme (UNDP)/Trust Funds Section (LOATF) of the Loan Department (LOA) located in Vice President of the Treasurer (TREVP) was established to administer financial management (accounting and disbursement) of the Bank's trust funds, including the United Nations Development Programme (UNDP) financed trust funds in where the Bank served as the Executing Agent. Kah Hie Lau served as Chief for the UNDP/Trust Fund Section. The VPCOF continued to be the unit responsible for the arrangement of cofinanced trust funds, but the LOATF handled the financial management of cofinanced trust funds.

In 1985, the multi-donor Special Facility for Sub-Saharan Africa (SFA) and the multi-donor Consultant Trust Fund (CTF) Program consisting of donors from multiple Bank member countries were launched. They were also managed by VPCOF and its subordinate Cofinancing Advisory Unit (VPCAU).

In 1986, LOA and its subordinate LOATF were transferred to the Vice President of the Controller (CTRVP). LOATF was renamed and upgraded to the Trust Funds Division (LOATF) due to the expanding use of trust funds.

In 1987, the VPCOF remained structurally unchanged but new acronyms were assigned to the Office of the Vice President (COFVP) and to the Cofinancing Advisory Unit (COFAU).

In the same year, the Resource Mobilization Department (FRM) was established in the Vice President of Financial Policy and Risk Management (FPRVP). The FRM focused on resource mobilization of official IDA concessional resources and IBRD capital resources, but also played a role in managing donor negotiations and relations related to trust funds that helped supplement the concessional lending of IDA operations. This was done in close collaboration with the COFVP, or other trust funds operations focused on providing concessional resources. For instance, the Special Facility for Sub-Saharan Africa (SFA) consisted of trust funds designed specifically to supplement IDA projects and programs. The COFVP and FRM worked closely to mobilize resources for SFA, and to help foster agreements between the Bank, borrower, and donor.

In 1989, the COFVP and the subordinate COFAU were terminated, and replaced by the Vice President of Financial Intermediation and Cofinancing (CFSVP). Within CFSVP, the new Official Cofinancing Group (CFSOC) served as the focal point for managing the Bank's cofinanced trust funds. CFSOC served as the key unit responsible for managing the technical assistance portions of the Consultant Trust Funds (CTF) Program, and the Japanese Policy and Human Resources Development (PHRD) Fund, which consolidated numerousgrant-based programs of the former Japanese Grant Facility (JGF). Specific responsibilities of CFSOC included:

• developing and maintaining institutional relations with the main donor agencies;

• establishing and monitoring formal arrangements for cofinancing so that clear operational procedures and policies are in place for cofinancing with colenders;

• assisting both potential cofinanciers and task managers in bringing together financing interests and funding needs; and

• mobilizing grant funds for consultants to be used for the Bank's operational work, and other special purposes.

John Taylor served as the Manager for CFSOC.

In same year, the Bank issued Operation Manual Statement (OMS) 4.40, Trust Funds. This statement designated the role of Trust Funds Administrator (LAOTF), and assigned this role to the reorganized Loan and Trust Fund Department (LOA). This was done to expand the responsibilities of the former LOATF Chief, strengthen trust fund policies and guidelines, consolidate the fragmented trust fund administration functions, and strengthen trust funds administration Bank wide. Specific responsibilities included:

• implementing the policies and guidelines for administering funds;

• ensuring the consistency of information given to donors on the terms and conditions on which funds are administered by the Bank;

• coordinating within the Bank to ensure compliance with Bank policies and with the specific provisions of each agreement;

• participating in negotiating agreements and clearing them before signature;

• ensuring that disbursements are for eligible countries only;

• preparing financial reports on each fund in accordance with the agreement;

• coordinating the preparation by Task Managers of implementation reports and other reporting requirements; and

• requesting the donor to replenish trust fund accounts as needed.

The new Trust Funds Administrator of the Loan and Trust Fund Department (LOA) remained in the CTRVP. Kah Hie Lau was promoted to the Trust Funds Administrator.

In1991, the Global Environment Facility (GEF) was launched. The COFVP and the FRM served as the key units in the Bank responsible for the resource mobilization and replenishment of the GEF trust funds. In the same year, the Trust Funds Administrator was transferred to the Resource Mobilization Department (FRM) located in the Vice President of Financial Policy and Risk Management (FPRVP), and its acronym changed to FRMTF.

In February 1992, the CFSVP underwent a comprehensive reorganization and the CFSOC wasrenamed the Official Cofinancing and Trust Fund Management Group (CFSOC). The newly reorganized CFSOC responsibilities included:

• administering the Japanese Policy and Human Resources Development (PHRD) Fund;

• administering the Consultant Trust Fund (CTF) Program;

• managing institutional relationships with bilateral and multilateral cofinanciers to include proactive initiatives to increase cofinancing; and

• maintaining the Bank's Cofinancing Database and CTF Management Information system.

CharlesMeissner served as the new Manager for the reorganized CFSOC.

In 1993, the Trust Funds Administrator was removed from FRM, and transferred to the Trust Funds Administration Department (CTRTA) in the Controller Vice Presidency (CTRVP).

In March 1996, CFSVP was terminated and CFSOC staff and functions as well as the Resource Mobilization Department (FRM) were absorbed by the new Resource Mobilization and Cofinancing Vice Presidency (RMCVP). CFSOC was placed in the new Cofinancing and Project Finance Department (CAP), and renamed the Official Cofinancing and Trust Funds Group (CAPOC).

The Trust Funds Administrator was transferred to the new Trust Funds Division (ACTTF) in the Accounting Department (ACT) of the Controller Vice Presidency (CTRVP), and supported the new RMCVP in financial management of trust funds, and implementing policies and guidelines related to trust fund administration.

IDA replenishment

This section focuses on the units responsible for the following functions: leading and supporting IDA replenishments negotiations with the Bank's IDA Deputies; managing the finances of IDA's concessional lending funds; managing the allocation of IDA resources; and monitoring the implementation of IDA mandated policies within Bank operations.

The International Development Agency (IDA) was established in 1960 to complement the role of the International Bank for Reconstruction and Development (IBRD) in promoting economic development by offering concessional financing to the poorer developing countries within its membership. The IDA replenished its resources through negotiations held every three years, wherein the Bank sought donations from its wealthiest Part I member countries.

The first replenishment of IDA resources was held in 1962. The Bank's Board of Governors requested that the Board of Executive Director's assess financial requirements for IDA operations. Subsequently, the Financial Policy Committee of the Board was given the task of leading replenishment negotiations, and did so in a number of informal meetings with Part I member country leaders.

In 1965, the second replenishment was held and, much like the first replenishment, it was initiated by the Board of Governors with a request to the Board of Executive Directors. The second IDA replenishment negotiations established Part I member country representatives as the new IDA Deputies, and the formal IDA replenishment negotiations became known as the IDA Deputy Meetings. IDA replenishment negotiations included senior officials of the Bank andthe IDA Deputies.

The third replenishment was held in 1968, and the process of initiating formal negotiations by a Board of Governors request to the Executive Directors was discontinued. Formal donor meetings with the IDA Deputies where arranged by Bank management after this point. The Office of the Vice President of Sir Denis Rickett (OVPDR) established on April 1, 1968 was the unit responsible for such IDA replenishment arrangements. The OVPDR was created in conjunction with the appointment of PresidentRobert McNamara, and reported directly to him. This OVPDR was established as a liaison office of the Bank with Part I countries. Specific responsibilities included leading negotiations for IDA replenishments, and providing information on the Bank's lending programs and policies. The OVPDR was not assigned any direct responsibility for department supervision.

On October 4, 1974, with the resignation of Vice President Rickett, the OVPDR was terminated. The functions of OVPDR were absorbed by the Vice President of Finance (VPF) led by I.P.M. Cargill. The VPF was also responsible for managing the Bank's financial operations and advising the President on Bank financial policies, and consisted of the following subordinate units: the Treasurer's Department (TRE) and the Programming and Budgeting Department (PAB). The IDA replenishment function was supported by two Special Assistants in the VPF Front Office. The PAB Department's Financial Analysis Division (PABFA) was responsible for providing staff support to IDAreplenishment efforts of the Front Office assistants.

In 1977, the Financial Analysis Division (PABFA) of the PAB Department absorbed greater responsibility for supporting IDA replenishment from the former IDA Special Assistants of the VPF Front Office due to increased workload of the function, and planned retirement of one its assistants. The VPF continued to lead IDA replenishment negotiations, but was primarily supported by PABFA. Within PABFA, the IDA replenishment related functions were merged with financial policy, financial projections, and IBRD capital increase support responsibilities. Specific responsibilities of PABFA included:

• maintaining analysis of Bank Group financial policies and activities as they affect the soundness and financial needs of the institution;

• alerting management to potential financial problem conditions and proposed changes to the Bank Group's financial policies;

• providing staff support related to IBRD capital increases, including periodic reviews of the appropriate capital structure of the Bank and analysis of the size, timing, and distribution by country of increases in subscribed capital;

• providing staff support for the periodic IDA replenishment negotiations, including analysis of the size of replenishment burden-sharing arrangements, voting rights issues, method of payment, maintenance of value, and other topics;

• preparing periodic reviews of the Bank's lending rate, liquidity policy, and allocation of net income;

• preparing the sections on Bank/IDA financial position and prospects for inclusion in the annual review of the five-year program as well as for the mid-year review of operations;

• preparing standard long-term financial projections for the Bank and IDA;

• reviewing the changes in the quality of the Bank's overall loan portfolio; and

• maintaining awareness of changes in the external financial environment.

The PABFA was led by Division Chief David Bock at the time it absorbed IDA replenishment related functions.

In July 1978, VPFI.P.M. Cargill was promoted to Senior Vice President of Finance (SVPFI) to further assist the Bank President more broadly on priority areas, and serve as Acting President and Board Chairman in the absence of the President. The position of Vice President of Finance (VPF) remained, and Cargill relinquished most of his responsibilities of overseeing the operations of the Finance Complex to the new VPF Moeen Qureshi. With this change, PABFA reported to the VPF, but still supported the SVPFI, who continued to lead IDA replenishment negotiations.

In 1980, SVPFI I.P.M. Cargill retired from the Bank. Moeen Qureshi was promoted soon after as the new SVPFI, and retained the responsibility of leading IDA replenishment negotiations. The position of VPF was terminated.

At the same time, the PABFA and the Financial Studies Division (PABFS) of Programming and Budgeting Department (PAB) were transferred to the new Financial Policy and Analysis Department (FPA), which reported directly to the SVPFI. The FPA Department was assigned the following responsibilities:

• performing analytical work on Bank financial policies, and supporting the Senior Vice President, Finance in such key activities as IDA replenishment negotiations, IBRD capital increases and analyzing the financial impacts of new initiatives;

• producing long-term financial projections and plans beyond a one-year horizon;

• assessing and managing financial risks; and

• providing support to Operations in areas involving financial analysis.

The former Financial Studies Division and Programming and Budgeting Department maintained their titles in the new FPA, but their acronyms were changed to FPAFA and FPAFS, respectively. The function supporting IDA replenishment negotiations was moved to the FPAFS Division.

In 1983, the FPA reported to the new Vice President of Financial Policy, Planning, and Budgeting (FPBVP).

During the 1987 Bank-wide reorganization, the FPA was terminated. As a result, the FPAPP and FPAMA divisions were absorbed by the new Risk Management and Financial Policy Department (FRS), and the FPAFS, which maintained responsibility for IDA replenishment negotiations, was absorbed by the new Resource Mobilization Department (FRM). Both departments reported to the new Vice President of Financial Policy and Risk Management (FPRVP), which reported to the new Senior Vice President of Finance (FINSV) Ernest Stern.

FRM was given the responsibility of securing official funding necessary to fund the Bank's planned programs. Official funding sources sought by FRM included capital subscriptions by Bank shareholders for IBRD lending operations and IDA concessional resources for its lending to countries which were not creditworthy for IBRD borrowing. Specific responsibilities included:

• maintaining a positive environment for Bank funding approaches;

• developing a system for monitoring funding approaches;

• monitoring the adequacy of the Bank's capital and taking steps to replenish it;

• managing the subscription payments and the release of local currency contributions;

• replenishing IDA;

• managing donor contributions to IDA's contributions;

• exploring new facilities that use official funding; and

• analyzing the role of Bank/IDA flows in relation to aggregate aid and commercial flows.

At its inception, the FRM had the following subordinate units: the Replenishment Policy Division (FRMRP) and the Replenishment Operations Division (FRMRO). Basil Kavalasky served as Director for FRM.

In 1991, the Trust Funds Administrator Kah Hie Lau was transferred from the Loan and Trusts Funds Department (LOA) of the Vice President of Controller (CTRVP) to FRM. In 1993, the Trust Funds Administrator was removed from FRM, and transferred to the Trust Funds Administration Department (CTRTA) in the Controller Vice Presidency (CTRVP).

In 1996, the Vice President of Financial Policy and Risk Management (FPRVP) was terminated. As a result, the Risk Management and Financial Policy Department (FRS), was absorbed by the new Office of the Vice President Financial Policy and Institutional Strategy (FPIVP). The Resource Mobilization Department (FRM) was transferred to the new Resource Mobilization and Cofinancing Vice Presidency (RMCVP).

Cofinancing, trust funds, and IDA replenishment (1996-present)

In April 1996, the cofinancing, trust funds, and IDA replenishment functions were merged under the new Resource Mobilization and Cofinancing Vice Presidency (RMCVP). More specifically, the functions of the former Official Cofinancing and Trust Fund Management Group (CFSOC) and the Project Finance Group (CFSPF) of the former Vice President of Financial Intermediation and Cofinancing (CFSVP), and the functions of the Resource Mobilization Department (FRM) of the former Financial Policy and Resource Mobilization Vice Presidency (FPRVP) were absorbed by the new RMCVP. The new RMCVP was created to enable the Bank to forge a more effective partnerships with the donor community and the private sector. RMCVP focused on mobilizing funds from official and private sources to IBRD and IDA operations and services and the Global Environmental Facility (GEF). Specific responsibilities included:

• expanding resource mobilization efforts to achieve greater financial sustainability through donor support, official cofinancing, export credit, and trust funds;

• accelerating the implementation of the guarantee Program, expand the use of guarantees, and increase the pipelines of guarantee operations; and

• supporting the Bank's efforts to mainstream the trust fund activities into the Bank's processes.

At its establishment, the RMCVP consisted of the following subordinate units: the Cofinancing and Project Finance Department (CAP) and the Resource Mobilization Department (FRM). CAP consisted of the Official Cofinancing and Trust Funds Group (CAPOC) and the Project Finance and Guarantees Group (CAPPF). The FRM Department consisted of the Replenishment Operations Unit (FRMRO) and the Replenishment Policy Unit (FRMRP). CAPOC served as the main unit for cofinancing related responsibilities, which consisted of promoting and monitoring official cofinancing of Bank Group operations. CAPOC was also responsible for trust fund functions including monitoring, mobilization, and administration.

Hiroo Fukui served as Vice President for RMCVP.

Soon after the establishment of the RMCVP, the Highly Indebted Poor Countries (HIPC) Debt Initiative, a debt restructuring trust fund, was launched. RMCVP served as trustee for this fund. In 1997, the global trust fund program, Development Grant Facility (DGF), was launched. The RMCVP also served as trustee for this fund.

In 1998, the RMCVP was restructured. FRM remained unchanged, but CAP functions were divided into two new departments: the Trust Fund and Cofinancing Department (TFC) and the Project Finance and Guarantees Department (PFG).

In 1999, PFG was removed from the RMCVP, and its functions were transferred to the Private Sector Development and Infrastructure Vice Presidency (PSIVP).

The early 2000s marked a significant increase in the Bank's trust fund portfolio, primarily due to the 2002 launch of the United Nations Millennium Development Goals (MDGs). This prompted the creation of numerous global programs and partnership trust funds to respond to the international initiatives of the MDG, including the Global Fund to Fight AIDS, Tuberculosis, and Malaria (the Global Fund) and the Climate Investment Funds (CIFs), both established in 2002. The use of global programs and partnership existed prior to this period, most notably GEF and DGF, but their use rapidly expanded in the 2000s.

Furthermore, due to the growth and increasing complexity of trust funds, this period also experienced a shift in the type of trust funds arrangements used for various funds. This included the growing use of the following types of trust fund arrangements: Financial Intermediary Funds (FIFs); Bank Executed Trust Funds (BETF); and Recipient Executed Trust Funds (RETF). FIFs, in particular, saw significant expansion foster the arrangement of complex global programs and partnership trust funds. With the changing trust fund landscape, more traditional cofinancing arrangements experienced gradual decline as a source for external funding. Cofinancing, however, still remained a component of these trust fund arrangements, and the cofinancing function was integrated into broader trust funds operations.

In 2001, RMCVP was again restructured. The functions of TFC were split into two new departments: the Trust Fund Operations Department (TFO) and the Trust Fund Strategy and Donor Relations Department (TFS). FRM remained unchanged.

In June 2003, the RMCVP was terminated and its functions absorbed by the new Concessional Finance and Global Partnerships Vice Presidency (CFPVP). The responsibilities of the new CFPVP included:

• mobilizing and managing concessional and grant finance in the Bank;

• agreeing to the policy framework with which these resources are provided by donors; and

• facilitating and overseeing the robust and accountable framework of partnerships to take forward the Bank's strategic priorities.

At its establishment, the CFPVP consisted of the following subordinate departments and units: the Resource Mobilization Department (FRM); the Global Programs and Partnerships (GPP); the Trust Fund Operations (TFO); the Trust Fund Strategy and Donor Relations Department (TFS); and the Multilateral Trustee Operations (MTO).

Geoffrey Lamb served as Vice President of the CFPVP.

In 2004, the Finance and Risk Unit (CFPFR) and the Multilateral Trustee Innovative FinanceUnit (CFPMI) were added to CFPVP. In 2006, Phillippe Le Houerou succeeded Geoffrey Lamb as Vice President for CFPVP.

In 2008, the GPP and the TFO were merged to create the new Global Partnerships and Trust Fund Operations Department (CFPTO). CFPTO was assigned two subordinate units: the Global Partnership and Trust Fund Policy Unit (PTP) and the Program Administration and Management Unit (PAM).

In 2009, Axel van Trotsenburg succeeded Phillippe Le Houerou as Vice President for CFPVP. Around this time, the CFPVP was reorganized into the following subordinate units: IDA Resource Mobilization (CFPIR); the Global Partnerships and Trust Fund Operations (CFPTO); and the Multilateral Trusteeship and Innovative Financing (CFPMI).

In 2012, Joachim von Amsberg succeeded Axel van Trotsenburg as Vice President for CFPVP.

In July 2014, the CFPVP was terminated and replaced by the new Development Finance Vice Presidency (DFIVP).

The Development Finance Vice Presidency (DFIVP) absorbed the IDA replenishment, trust fund, and cofinancing related functions of the former CFPVP. It additionally absorbed functions related to IBRD capital monitoring, planning, and management from the former Vice President of Corporate Finance and Risk Management (CFRVP). The DFIVP includes the following subordinate units: the Development Finance Resource Mobilization Department (DFiRM); the Development Partner Relations Department (DFDPR); the Trust Funds and Partnerships Department (DFPTF); and the IBRD Corporate Finance Department (DFICF). Joachim von Amsberg serves as Vice President for DFIVP.

The Private Sector Development and Infrastructure Vice Presidency (PSIVP) was launched in February 1999. The establishment of PSIVP was the result of the termination of the former Finance, Private Sector Development and Infrastructure Network (FPSI) in January 1999, and a renewed effort by World Bank President James D. Wolfensohn to more closely integrate the operations of the Bank and its affiliate of the International Finance Corporation (IFC), especially in the areas of private sector development and infrastructure. To facilitate this integration, Wolfensohn appointed Peter Woicke to serve in a dual role of IFC Executive Vice President and Managing Director for the World Bank. The newly created PSIVP and its subordinate departments were created as a joint IFC and Bank vice presidency, and reported directly to Woicke. Nemat Talaat Shafik was appointed Director of PSIVP in February 1999, and also reported to Woicke.

The functions and staff of the FPSI departments of the Private Sector Development Department (PSD), the Energy, Mining, and Telecommunications Department (EMT), and the Transportation, Water, and Urban Development Department (TWU) were transferred to PSIVP at its establishment. PSD and parts of EMT were later mapped into the following newly established joint IFC and World Bank departments: the Private Sector Advisory Services (PSAS); the Small and Medium Enterprise Department (SME); the Oil, Gas, and Chemicals Department (COC); the Global Information and Communications Technologies Department(CIT); and the Mining Department (CMN). In 2001, transportation, water, energy, and urban development functions were mapped into the newly organized Energy and Water Department (EWD) and the Transport and Urban Development (TUD). EWD and TUD were not joint Bank and IFC departments, but still reported to the PSIVP. In 2002, CMN was merged with COC to form the new Oil, Gas, Mining, and Chemicals Department (COC) in PSIVP.

In May 2003, PSIVP was terminated and its functions and staff were spilt among the new joint IFC and World Bank Private Sector Development Vice Presidency (PSDVP) and the Bank's Infrastructure Network (INF). PSAS and SME were mapped into PSDVP. COC, CIT, EWD, and TUD were mapped into the INF Network.

The Chief Financial Officer (CFO) is responsible for providing leadership for the following Bank functions: institutional planning and budgeting; financial planning and policy; risk assessment and management; market fund-raising, investment, cash management, and liability management; resource mobilization; financial controls and reporting; and pension fund management. These functions together make up the financial operations or Finance Complex of the Bank. The CFO has its origins in the Bank's Treasurer's Department (TRE) established in 1947. The Treasurer's Department was responsible for the development and application of all Bank practices pertaining to funds and securities of the Bank. More specifically, the responsibilities of TRE included:

• development of overall financial policies for the Bank;

• management of Bank funds and securities;

• development and maintenance of a program of fiscal operations;

• development and maintenance the Bank's accounting system; and

• development and maintenance of a program of budgeting and budgetary control.

The following subordinate units reported to TRE: the Fiscal Operations Loan Division (TREOL); the Fiscal Operations Borrowing Division (TREOB); the Fiscal Operations Administrative Division (TREOA); Receipts and Disbursement Division (TRERD); and the Accounts and Financial Reports Division (TREAF). Daniel Crena de Iongh served as the Bank's Treasurer and reported to the Vice President Robert Garner (OVPRG).

In October 1948, the TREOA Division of TRE wasterminated and its functions related to administrative budget and control were transferred to the new Controller (CTR) located in the Administration Department (ADM), which was also responsible for administrative activities related to personnel, office services, and records management. The CTR broadly oversaw responsibilities related to administrative budget and expense, auditing, and organization and methods planning. Francis Poore served as the Bank Controller (CTR).

In 1953, Henry Riley replaced Daniel Crena de Iongh as Bank Treasurer.

In 1959, Robert Cavanaugh replaced Henry Riley as Bank Treasurer.

In February 1967, the Controller (CTR) of the ADM Department, as well as staff from the TRE Department responsible for budgeting and programming functions, were transferred to the new Department of Program Evaluation and Control (PEC). The PEC, which reported to the Office of the President (EXC), was established to improve the President's control over the use of the Bank's manpower and financial resources and monitor the effectiveness of the Bank's programs. PEC responsibilities included:

• making continuous reviews of the effectiveness of the Bank's major functions;

• analyzing financial and other implications in terms of human and material resources required;

• monitoring the efficiency and economy of the Bank's organizational structure, its operating procedures and use of manpower;

• instituting procedures for effective budgetary control;

• preparing the annual budgets for the World Bank Group; and

• conducting internal audits and arranging external studies to determine whether accounts and records conform to established policies.

PEC had no formal subordinate units. John H. Williams served as Director for PEC.

In June 1968, the position of Vice President of Finance (VPF) was created in the reorganization following the appointment of Robert S. McNamara as President of the Bank earlier that year. The VPF was responsible for managing the Bank's financial operations or Finance Complex, and was also responsible for advising the President on the Bank's financial policies. With the creation of the VPF, the PEC was renamed the Programming and Budgeting Department (PAB) and joined the TRE as a subordinate unit to the new Vice President of Finance (VPF). At this time, it appears budgetary control functions were transferred to the TRE Department, while remaining functions were retained by the PAB. The first VPF, Siem (Simon) Aldewereld, was not only responsible for the Bank's financial and programming activities, but also served as Director for the Projects Department (DRP), which was responsible for providing leadership in evaluating, improving, performing quality control, and setting policies and procedures for project work of the Bank's Projects Department (PRJ).

In the following years, the Finance Complex expanded rapidly. In May 1969, the TRE was split to include the new Controller's Department (CTR) with the TRE. The TRE retained the functions of borrowing, investment, and receipt and payment of funds. The new CTR was assigned responsibility for the Finance, Loan Disbursement and Administrative Expense Divisions previously located in the TRE Department. The Internal Audit Office (ADMIA) was also transferred from the Administration Department (ADM), assigned the new acronym IAD, and placed in the PAB Department of VPF in May 1969.

In July 1973, the IAD and the operations evaluation functions located in the PAB were transferred to Auditing and Evaluation, Vice President Mohamed Shoaib (OVPMS).

In July 1974, I.P.M. Cargill replaced Simon Aldewereld as VPF. With the appointment of Cargill, the VPF also assumed responsibility for the coordination of IDA replenishments from the retiring Vice President Sir Denis Rickett (OVPDR). Later that year, the Tokyo Office (TOK), created in 1971, started reporting to the VPF, as did the Loan Portfolio and Analysis Unit (LPAU) which was created by merging the Budget and Operations Review Divisions of the PAB.

In 1975, the Front Office of the VPF was expanded to include a Director, Financial Policy and two assistants for the IDA-5 Replenishment to help support the VPF in IDA Replenishment negotiations.

Following Vice President Shoaib's retirement in January 1976, the Internal Auditing Department (IAD) was reassigned to the VPF.

In July 1978, I.P.M. Cargill was promoted to the new position of Senior Vice President of Finance (SVPFI) to assist the President more broadly in managing the work of the Bank. On July 1, 1979, Cargill relinquished the management of the Finance Complex to Moeen Qureshi, who was appointed the new VPF. Cargill continued to oversee the negotiations for the 6th IDA replenishment, and remained SVPFI until his scheduled retirement in 1980. Upon Cargill's retirement, Qureshi was named the new SVPFI, and the position of Vice President of Finance (VPF) was abolished.

With the appointment of Qureshi to SVPFI in 1980, the role took on more expanded responsibilities. The creation of the SVPFI reflected the increasing importance ofthe Finance Complex as the unit primarily responsible for the mobilization of financial resources and their management and control in a more constrained external environment. In addition to managing the Finance Complex, the SVPFI also advised the President and the Executive Directors on overall Bank financial policies and prospects, and served as a liaison with member countries on matters involving sources of funds for the Bank, including leadership on IDA replenishment and International Bank for Reconstruction and Development (IBRD) capital increase negotiations. In conjunction with Qureshi's appointment to the SVPFI, two new vice presidential positions were created: the Office of the Vice President and Controller (CTRVP) and the Vice President of Programming and Budgeting, and Pension Fund (PBPVP). The Pension Fund, previously located in the SVPFI Front Office, was upgraded to the Staff Retirement Plan Department (SRP) and placed in PBPVP. A new Financial Policy and Analysis Department (FPA) was also created, which upgraded the resource mobilization support functions previously located in the Financial Studies Division (PABFS) and Financial Policies Division (PABFA) of the PAB. The TRE, Internal Auditing (IAD), and the Tokyo Office continued to report to the SVPFI.

In July 1981, the Treasurer's Department was upgraded to the Treasurer's Vice Presidency (TREVP). In the same year, Bank President A.W. Clausen established the Managing Committee for the purpose of providing overall guidance for and managementof the Bank. The SVPFI served as a committee member for the Managing Committee, along with the Senior Vice President of Operations (SVPOP) and other Bank vice presidents.

In late 1982 the Vice President of Programming and Budgeting and Pension Fund (PBPVP) was reduced to the Vice President of Pension Fund (PFDVP) with the removal of the Programming and Budgeting Department (PAB). The PAB reported directly to the SVPFI until its absorption into the new Financial Policy, Planning, and Budgeting Vice Presidency (FPBVP) in August 1983. The new FPBVP was established to improve the Bank's institutional planning and resource allocation and control processes by integrating the FPA Department and the refocused Programming and Budgeting Department (PBD). PFDVP and the FPBVP continued to report to SVPFI.

In 1985, the Internal Auditing and the Tokyo Office were placed in the Front Office of the SVPFI.

In May 1987, the SVPFI was reorganized as part of a Bank wide reorganization, and its acronym changed to FINSV. The reorganization included replacement of the FPBVP with the Vice Presidency of Financial Policy and Risk Management (FPRVP). This was accomplished by transferring the planning and budgeting functions located in PBD to the new Policy, Planning and Research Complex (SVPPR); consolidating the Financial Policy and Planning Division (FPAPP) and the Financial Management and Analysis Division (FPAMA) of FPA into the new Risk Management and Financial Policy Department (FRS) of FPRVP; and upgrading the FPA's Financial Studies Division (FPAFS) to the new Resource Mobilization Department (FRM) of FPRVP. The creditworthiness review function located in PBD was also transferred to the new FRS Department. The former Vice President of Pension Fund (PFDVP) was replaced by the Office of the Pension Plan Administrator (PENAD) and placed in the FINSV Front Office, along with the Tokyo Office. The IAD was transferred from the former SVPFI Front Office to the new Senior Vice President of Administration (SVPEA). The reorganized FINSV was responsible for the major resource mobilization activities of the Bank and the management and control of its financial resources. More specifically, the FINSV was responsible for:

• executing all IBRD and IDA financial transactions, including IBRD capital subscriptions, IDA replenishments, borrowings, and investment operations;

• collecting, keeping custody, and disbursing of funds;

• maintaining accounts for loans and trust funds;

• accounting for and reporting of financial information; and

• formulating risk management and financial policy.

Subsequent to the completion of the reorganization, the following vice presidencies reported to FINSV: TREVP, CTRVP, and FPRVP. Ernest Stern succeeded Moeen Qureshi as the new Senior Vice President of Finance (FINSV).

In December 1991, following the appointment of World Bank President Lewis T. Preston, the senior management structure was significantly reorganized, and the Bank's senior vice presidencies were abolished, including the FINSV. The senior vice presidents were replaced by a broad oversight team of the Office of the Managing Directors (MDC) that reported directly to the President. Each Managing Director was assigned responsibilities of regional oversight, policy, and finance. The functions of the former FINSV were not exclusively assigned to one Managing Director. Instead, the oversight responsibilities related to the finance functions of treasurer, controller, financial policy, risk management, and resource mobilization were dispersed among the Managing Directors. As a result, the senior or chief financial officer did not exist at this time. The newly appointed Managing Directors, which shared finance responsibilities, included: Ernest Stern, Sven Sandstrom, and Attila Karaosmanoglu.

In July 1995, James Wolfensohn's was appointed the World Bank President following the passing of Lewis T. Preston earlier that year. Immediately upon his appointment, Wolfensohn initiated a Bank wide reorganization. As part of this reorganization, the Office of the Managing Directors (MDC) was reorganized to include the appointment of five new Managing Directors and a new Executive Committee. Among the new appointments, the Managing Director of Finance and Resource Mobilization (MDFMD) was created, and absorbed oversight responsibilities of the finance complex vice presidencies. At the time of the creation, the following vice presidencies reported to the MDFMD: the Vice President of the Treasurer (TREVP); the Vice President of the Controller (CTRVP); theVice President of Cofinancing and Advisory Services (CFSVP); and the Vice President of Financial Policy and Risk Management (FPRVP). Jessica Einhorn was appointed the new MDFMD.

In April 1996, the CFSVP was replaced by the Vice President of Resource Mobilization and Cofinancing (RMCVP), which absorbed the units of the former CFSVP, but also the Resource Mobilization Department (FRM) of the FPRVP. The FPRVP was replaced by the new Vice President of Financial Policy and Institutional Strategy (FPIVP), which absorbed the functions of the Risk Management and Financial Policy Department (FRS) of the former FPRVP. Both vice presidencies continued to report to the MDFMD.

In 1997, the FPIVP was renamed the Vice President of Financial Policy and Risk Management (FPRVP).

In September 1998, MDFMD Jessica Einhorn retired from the Bank. The role of MDFMD was replaced by the new role of Senior Vice President and Chief Financial Officer (CFO).

Gary Perlin assumed the role of Senior Vice President and Chief Financial Officer (CFO) in January 1999. Perlin absorbed the oversight responsibilities of the former MDFMD for the following Finance Complex vice presidencies: the CTRVP; the TREVP; and the FPRVP. The Vice President of Resource Mobilization and Cofinancing (RMCVP) reported to Managing Director Sven Sandstrom, who was also responsible for oversight of some the Bank's regional vice presidencies, the Corporate Secretariat, External Affairs, and the Poverty Reduction and Economic Management Network (PREM).

In 2000, the Senior VP and CFO Gary Perlin began reporting to Managing Director Jeffrey Goldstein. Perlin retained oversight responsibilities for the finance complex, but Goldstein served as another level of oversight for the finance complex, and was also responsible for oversight of financial sector development related units, including the Financial Sector Vice Presidency (FSEVP).

In 2003, Gary Perlin retired from the Bank. Jeffrey Goldstein was appointed his successor, and the role of Managing Director and CFO was combined. The following finance complex and financial sector development vice presidencies reported to the Managing Director and CFO (MDCFO) Jeffrey Goldstein: the TREVP; the CTRVP; the Concessional Finance and Global Partnerships Vice Presidency (CFPVP, formerly the RMCVP); the Vice President of Strategy, Finance, and Risk Management (SFRVP); and the FSEVP.

In 2004, Jeffrey Goldstein retired from the Bank, and was succeeded by Acting CFO John Wilton. The position of combined Managing Director and CFO was terminated with Goldstein's departure.

In September 2005, Vincenzo La Via was appointed the new CFO responsible for finance complex oversight. The SFRVP, the CTRVP, and the TREVP continued to report to the CFO. The CFPVP was removed and reported directly to the Bank President.

In late 2006, however, the CFPVP once again reported to the CFO. Around this same time, the CTRVP and the SFRVP were combined and renamed the Controllers, Strategy, and Resource Management Vice Presidency (CSR).

In 2009, the CSR was reorganized and split into two new vice presidencies: the Vice President and Controller (CTRVP) and the Vice President of Corporate Finance and Risk Management (CFRVP). The General Services Department (GSD) located formerly in the Information Services Group (ISG) and the new VP and World Bank Group Chief Risk Officer (CROVP) also reported to the CFO at this time.

In 2012, Vincenzo La Via left the Bank, and Charles McDonough served as Acting CFO.

In March 2013, Betrand Badrewas appointed the new Managing Director and CFO (MDCFO). The CFPVP, CTRVP, TREVP, CROVP, and GSD continued to report to the MDCFO. The Vice President of Budget, Performance Review, and Strategic Planning (BPS) and the World Bank Group Chief Information Officer (CIO) and Vice President of Information and Technology Solutions (ITS) also reported to the MDCFO later in 2013.

In 2014, the CFPVP was replaced by the Vice President of Development Finance (DFIVP) and continued to report to the MDCFO.

The operations policy function of the World Bank is broadly defined as determining standards, policies, and guidelines for lending, technical assistance, and other operations to best assist countries in their development.

1946 - 1972

Upon the opening of the World Bank in 1946, functional responsibility for operations policy was not ascribed to any particular World Bank unit, as the Bank's organizational structure was still in the process of being established.

Departmental responsibility for the operations policy function was first initiated as a result of the closure of the Loan Department (LOD) in 1952. LOD functions were divided between geographically organized Area Departments, which were responsible for country relations, and the Technical Operations Department (TOD), which was responsible for project identification, appraisal and supervision. In addition, TOD was responsible for operations policy-related activities, such as policy formulation, research, and advice in support of the activities of the Area Departments.

1972 - 1982

TOD and its successor, the Projects Department (PRJ, 1965-1972), maintained responsibility for operations policy-related functions until a significant reorganization of the Bank's operations in 1972.The expansion of Bank lending operations in the late 1960s and early 1970s prompted the 1972 reorganization. The reorganization included the elevation of the former Area Departments to new Regional Vice Presidencies (RVP), and the decentralization of most operational

staff from the former PRJ to new sector-oriented Projects Departments located in the RVPs. Remaining PRJ staff were organized into centralized sector-oriented departments known as Central Projects Staff (CPS). The resulting Operations Complex, containing both RVPs and CPS departments, was overseen by Senior Vice President of Operations (SVPOP) Burke Knapp.

The reorganization resulted in the assignment of policy formulation responsibilities to two key groups: the Central Projects Staff (CPS) and the Development Policy Staff (DPS). Policy formulation was divided between "operating policy", which was the responsibility of CPS, and "development policy", undertaken by DPS. The DPS development policy was defined as strategies and activities developing countries may undertake, and focused on formulating development policy at

both general and country levels. CPS's operating policy work related to the development of policies, guidelines, and standards directing the Bank's lending and advisory activities. More specifically, CPS's operations policy development involved:

• preparing policy papers outlining the basic principles and approaches of the Bank relating to project and sector work;

• preparing guidelines and standards for particular problems (e.g. procurement, pre-investment, etc.);

• collecting and interpreting data to provide better access to information required for sector and project work;

• developing monitoring systems to effectively monitor the project cycle; and

• developing analytical tools and implementing their use in operations.

The CPSVP consisted of the following subordinate units: the sector departments of the Agriculture Department (AGP), the Education Department (EDP), the Public Utilities Department (PBP), the Transportation Department (TRP), the Development Finance Corporations Department (DFC); and the Central Operating Projects Departments (COPD) consisting of staff in the areas of Industry, Population and Nutrition, Tourism, and Urban Development.

The CPSVP also contained the new Projects Advisory Staff (PAS). The PAS served as the main unit responsible for coordinating the newly articulated operating policy functions within the CPSVP, becoming the first World Bank unit with clearly defined responsibilities related to operations policy. PAS focused on cross-sectoral and general operations policy issues, and served as the main unit responsible for coordinating work programs for policy formulation, guidelines,

and standards. The PAS consisted of the following advisers: economic, environmental, financial, pre-investment, procurement, supervision, and training. PAS consisted of no subordinate departments or units.

The sector departments and COPD of the CPSVP shared some policy formulation responsibilities with PAS, but were more heavily focused on providing professional development and project support to their respective sectors in the RVPs and developing sector-specific policy. This differed from PAS, which provided cross-sectoral support and policy development, but also focused on broader non-sectoral matters such as lending and advisory services.

Upon its creation, PAS was led by Director Herman G. van der Tak. Warren C. Baum served as the Vice President for CPSVP.

In January 1977, an adviser position for Women in Development (WID) was created in PAS.

1982 - 1987

In February 1982, the CPSVP was terminated. As a result, the PAS, the sector departments, and the COPD were absorbed by the newly established Operations Policy Vice President (OPSVP). Like its predecessor, the OPSVP reported to the Senior Vice President of Operations (SVPOP) Ernest Stern, who oversaw and managed the Bank's Operations Complex. Within OPSVP, PAS remained the focal point for operations policy functions and activities. The PAS continued to operate alongside centralized sector departments and units within OPSVP. Further, a new Country Policy Department (CPD) was established, absorbing former Development Policy Staff (DPS) who focused on country policy and strategy. CPD's main

responsibility included improving country and economic sector work in Bank operations.

Warren C. Baum remained as the Vice President of the new OPSVP, but was succeeded shortly thereafter by Syed Shahid Husain in 1983. Herman G. van der Tak remained the Director of PAS.

In October 1983, the Projects Advisory Staff (PAS) was restructured and renamed the Projects Policy Department (PPD). PPD maintained a corps of advisers with expertise relevant to cross-sectoral operational topics. PPD responsibilities included:

• formulating operational policies, standards, and guidelines;

• providing advice and reviews for selected projects and project-related work to the regions;

• conducting training and external liaison; and

• supporting the OPSVP in discharging his responsibilities to the Loan Committee.

At the date of its establishment, PPD included the following subordinate units: the Environment, Science, and Technology Unit (PPDES); the Policy and Review Unit (PPDPR); the Public Sector Management Unit (PPDPS); and the Procurement Unit (PPDPC). PPD also included the Adviser for Women in Development (WID).

In 1983, Visvanathan Rajagopalan succeeded Herman G. van der Tak as Director of the new PPD. In 1986, Hans-Eberhard Kopp succeeded Rajagopalan as Director of PPD.

1987 - 1992

During the Bank-wide 1987 reorganization, the OPSVP was terminated. Many of the units formerly contained in OPSVP, including sector policy oriented departments, were transferred to the new Policy and Research Vice Presidency (PRE). CPD functions were transferred to the new Economic Advisory Staff (EAS). Within the Projects Policy Department (PPD), the Public Sector Management Unit (PPDPS) and the WID Adviser were also transferred to PRE. The remaining operational policy oriented functions of PPD were absorbed by the new Central Operations Department (COD), which joined EAS, the Regional Vice Presidencies (RVP), the Vice President of Cofinancing (COF), and the newly established Vice President of

Financial Intermediation (FIS) as part of the new Operations Complex reporting to the Senior Vice President of Operations (OPNSV).

The Central Operations Department (COD) reported to the Senior Vice President of Operations (OPNSV) Moeen Qureshi who oversaw and managed the Bank's Operations Complex. COD responsibilities included:

• planning and production of operational directives, and providing related advice and training to staff;

• reviewing and monitoring project implementation, including preparation of reports to management (PIRs), and managing the Management Information System (MIS) portfolio module;

• advising operations staff on financial and economic analysis;

• coordinating technical assistance activities, including liaison with the UNDP;

• acting as link with the Planning and Research Complex (PPR); and

• providing operational support with regard to procurement matters in the form of advice, guidelines and policy formulation and analysis.

At the time of its establishment, the COD had the following subordinate units: the Operations Policy Unit (CODOP); the Procurement Unit (CODPR); and the Operations Monitoring Unit (CODMO).

In 1987, Ducksoo Lee assumed the role as Director for COD. He was succeeded by Hans Wyss in 1990.

In July 1992, the Operations Information Services Division (PBDIS) was transferred from the Planning and Budgeting Department (PBD) to COD and its acronym changed to CODIS.

In late 1992, World Bank President Lewis Preston terminated the senior vice-presidencies, including OPNSV. As a consequence, COD and its subordinate units were transferred to the short lived Sector and Operations Vice Presidency (OSPVP).

1993 - 1997

In January 1993, OSPVP was terminated and units and functions were absorbed by the new Operations Policy Department (OPR) located in the new Vice President, Human Resources Development and Operations Policy (HROVP).

The Operations Policy Department (OPR) was established on January 1, 1993, and reported to HROVP Armeane M. Choksi. OPR joined two other departments in HROVP: the Population, Health, and Nutrition Department (PHN) and the Education and Social Policy Department (ESP). OPR continued the functions of the former COD. It additionally absorbed the International Economic Relations Division (EXTIE) and the UN Office in New York (EXTNY) units from the Bank's External Relations Department (EXT). OPR responsibilities included:

• developing and disseminating policies and best practices in project economics and project finance;

• producing Operational Directives;

• monitoring and evaluating portfolio management;

• providing policy and operational guidance on procurement matters;

• developing and operating information management tools and applications, managing the Sector Library; and

• managing the Bank's contributions with the Development

Committee, and relations with UN agencies, OECD, EEC and bilateral aid agencies, as well as with NGOs.

At its establishment the OPR consisted of the following subordinate units: the Operations Policy Group (OPRPG); the Procurement Policy and Coordination Unit (OPRPR); the Information Services Division (OPRIS); the Sector Library (OPRSL); and the International Economic Relations Division (OPRIE).

In 1993, James W. Adams assumed the role of Director for OPR.

In 1996, OPR briefly operated independently after it was separated from the Human Capital Development and Operations Policy Vice Presidency (HCO, formerly HROVP). At this time, Myrna Alexander succeeded James W. Adams as Director for OPR.

1997 - 2011

The OPR was terminated in 1997 as part of another Bank-wide reorganization. As a result, the Information Services Division (OPRIS) and the Sector Library (OPRSL) were absorbed by the new Information Services Group (ISG). The International Economic Relations Division (OPRIE) responsible for liaison with international organizations and NGOs was absorbed by the new Social Development Department's Non-Governmental Organization Division (SDVNG). The operations policy related units of the Procurement Policy andCoordination Unit (OPRPR) and the Operations Policy Group (OPRPG) were absorbed by two newly established Bank organizational units: the Operational Core Services Network (OCS) and the Operations Policy and Strategy Group (MDOPS) of the Front Office of the Managing Directors.

First, the new Operational Core Services Network (OCS) responsibilities included procurement policy and advisory functions absorbed from OPRPR, along with new responsibilities related to investment lending and financial management. OCS reported to Bank Managing Director Caio Koch-Weiser. OCS operated in four areas: quality promotion; procurement; financial management; and resource management. At its establishment, the OCS consisted of the following subordinate units: the Operational Services Group (OCSOS) and the Procurement Policy and Services Group (OCSPR). Katherine Sierra served as Vice President and Head of Network for OCS. Second, the new Operations Policy and Strategy Group (MDOPS) absorbed the operation policy functions of theformer OPRPG, which included developing and revising Operational Policies (OP), Bank Procedures (BP), and Good Practices (GP) as part of the Bank's Operational Manual (OM). MDOPS was also responsible for review and reform of operational Country Assistance Strategies (CAS), structural adjustment lending (SAL), and macro-economic policy. The MDOPS reported to Managing Directors Caio Koch-Weiser and Sven Sandstrom, and joined the newly established Quality Assurance Group (MDOQA) in the Front Office of the Managing Directors.

Joanne Salop served as Director for the MDOPS.

In July 1999, MDOPS and MDOQA were separated from the Front Office of the Managing Directors. MDOPS was renamed the Operations Policy and Strategy Vice Presidency (OPS), and Joanne Salop became its first Vice President. The MDOQA acronym

was changed to QAG (Quality Assurance Group). In the same year, the OCS was re-organized into the following subordinate units: the Administrative and Client Support Group (OCSAS); the Operational Services and Knowledge Sharing Group (OCSOK); and the Financial Management Unit (OCSFM).

In January 2001, the functions and staff of OCS, OPS, and QAG were merged to form the new Operational Policy and Country Services Network (OPC).

At its establishment, the OPC consisted of the following subordinate units: the Country Assistance Strategy (CAS) Team and Country Directors Support Desk (OPCCS); the Comprehensive Development Framework (OPCDF); the Financial Management Unit (OPCFM); the Operational Services Unit (OPCOS); the Policy Review and Dissemination Unit (OPCPD); the Products and Services Unit (OPCPG); the Procurement Policy and Services Group (OPCPR); the Operations Processes and Systems Unit (OPCPS); and the Quality Assurance Group (QAG).

Joanne Salop assumed the role of Vice President and Head of Network for the new OPC.

In 2002, James Adams succeeded Joanne Salop as Vice President and Head of Network for OPC. Around this time, the following units were added to OPC: the Country Economics Unit(OPCCE); the Delivery Management Unit (OPCDM); the Investment Lending Unit (OPCIL); and the Country Services Unit (OPCCS). The Results Secretariat (OPCCR) and the Global Monitoring Secretariat (GMS) were also added to OPC. OPCDF, OPCFM, OPCPD, OPCPR, and QAG remained unchanged in OPC.

Around 2006, OPC added the Harmonization Unit (OPCCH), the Aid Effectiveness Unit (OPCAE), the Fragile/Conflict Affected Countries Group (OPCFC), and the Results Secretariat (OPCRX).

In 2007, Jeffrey Gutman succeeded James Adams as Vice President and Head of Network for OPC. In the same year, the Quality Assurance Group (QAG) was separated from OPC and began reporting to Bank Managing Directors Juan Jose Daboub and Ngozi

Okonjo-Iweala.

In 2011, the QAG was re-integrated into OPC.

Mr. Frank K. Vita, a U.S. national born in 1936, attended the University of Pittsburgh where he earned a Bachelor of Science (Economics) in 1964 and a Master in Public and International Affairs (MPIA) the following year. In 1966 he was a Ford Foundation Fellow at Harvard University.

Vita joined the World Bank in 1969 as a loan officer in the Eastern Africa Department (EAF). In 1972 he moved to the Latin America and Caribbean Vice Presidency (LCN) where he served in the same capacity. In June 1973 Vita took leave from the Bank to pursue studies at Harvard University.

Upon Vita's return in 1975, he joined the Development Finance Companies Department (DFC) as an Economist in the Financial Development Unit (DFCDR). The new Industrial Development and Finance Department (IDF) assumed DFC's responsibilities in 1977. Vita briefly served in the new IDF before being transferred to the Financial Division of the Western Africa Industrial Development and Finance Projects Department (WAPID) where he was promoted to Senior Operations Officer.

In 1980, Vita moved into the Bank's Finance Complex when he was named Senior Economist for Financial Operations in the Treasury Vice Presidency's Financial Operations Department (FOD). In this capacity he headed FOD's Capital Markets and Economic Studies Unit (CAMES). In June 1984 he was appointed to the position of Deputy Chief of Mission, Tokyo Office, and was the Bank's liaison with the Japanese government and financial community.

Vita joined the Bank's International Finance Corporation (IFC) in November 1985. He was located in the Office of the Executive Vice President (CEX) where he was a Manager in Corporate Development.

In 1990, Vita returned to the World Bank's Operations Complex when he was named Senior Country Officer in the Europe, Middle East, and North Africa Vice Presidency (EMENA). Vita was placed in Country Department 4 (EM4) which contained a number of former communist states that were in the process of transitioning to market economies; EM4 countries included Poland, Romania, Czechoslovakia, and Yugoslavia. After the Bank-wide 1991 reorganization, Vita was named a Senior Operations Officer in the Europe and Central Asia Vice Presidency's (ECAVP) Country Department 2 (EC2) which was responsible for Albania, Czechoslovakia, Hungary, Poland, and Yugoslavia.

Vita retired from the World Bank in 1992. In 1993 he was named special advisor under the Executive Service agreement between the World Bank and the United States Agency for International Development (USAID). Vita worked out of USAID's Central Europe Department which was responsible for rendering advisory assistance in the areas of privatization of domestic financial institutions and commercial enterprises. It was also responsible for identifying potential projects for the World Bank Group or other financing in former communist countries.

In 1994 Vita was hired by Arthur Andersen LLP as Managing Director, Global Emerging Markets Services (GEMS). Vita's teams provided support for large-scale World Bank-financed financial institutions. Vita fulfilled contracts funded by recipient governments in Russia and the Central Asian republics. In 1997, Vita moved to PricewaterhouseCoopers (Asia) where he worked on project identification for possible World Bank funding primarily in the financial and energy sectors.

Jaime Biderman was born in 1949. He joined the World Bank in 1973 as a researcher in the Economic Department's Urban and Regional Economics Division (ECDRB). The following year Biderman entered the Bank's Young Professionals Program (YPP). Upon his completion of the Program in 1976, Biderman was made an Economist in the Transportation and Urban Projects Department's Urban Division (TRUD2). Shortly thereafter the two sectors, Transport and Urban Development, were separated and Biderman was placed in the newUrban Projects Department (URB). Note that while following the 1972 Bank-wide reorganization most sector departments were only responsible for policy formulation and quality control, URB functioned as a centralized operating projects department, meaning that it provided a full operational package of technical services to the regional operational vice presidencies. This included the planning, direction, and supervision of project work.

Biderman took an extended leave from the World Bank from 1978 to 1983.Upon his return he continued his work as an Economist in the Urban Development sector. Regionalization of URB and project planning and supervision functions had, however, begun in 1979. Thus when Biderman joined the East Asia and Pacific Regional Vice Presidency's Urban and Water Supply Division (AEPUW) in 1983, its functions included the full operational package of responsibilities within the East Asia and Pacific Regional Vice Presidency (AENVP). Biderman remained in the AEPUW through 1987.

In 1987 Biderman moved to the Africa Vice Presidency's Department 6 (AF6) responsible for overseeing lending operations in Botswana, Lesotho, Malawi, Mozambique, Swaziland, Tanzania, Zambia, and Zimbabwe. Biderman worked as a Senior Economist in the Department's Country Operations Division (AF6CO).

In 1991, following a brief period in the Development Economic's Policy and Review Department (PRD), Biderman was named Senior Country Officer in the Europe and Central Asia Vice Presidency (ECA).

In 1994 Biderman was named Operations Adviser in the Operations Policy Department (OPR). OPR was responsible for operational policy development, portfolio management monitoring and evaluation, and procurement guidance and policy, among other activities. Biderman worked in the Department's Policy Group (OPRPG).

In 1998 Biderman returned to the Africa Vice Presidency (AFR) and would remain there until 2009. During this period Biderman held a variety of positions in a number of AFR's divisions. These included:

• Lead Specialist,Operations Support 1 (AFTS1, 1998-1999)

• Lead Specialist, Operational Quality and Knowledge (AFTQK, 1999-2000)

• Operations Adviser, Operational Quality and Knowledge (AFTQK, 2001)

• Operations Adviser, Quality and Knowledge Operations Support (AFTOS, 2002)

• Sector Manager, Water and Urban 1 (AFTU1, 2002-2008)

• Sector Manager, Urban and Water (AFTUW, 2009)

Biderman served as an Adviser in 2010 and 2011 in an unspecified role before retiring from the Bank in 2011. In [year], he returned as a consultant for a variety of Bank units, including the Independent Evaluation Group (IEG).

The Economic Policy Reform Sector includes those departments that were responsible for policy, review, and operational support functions related to the areas of macroeconomic growth, fiscal policy, international trade, structural adjustment, and debt management. These functions primarily lie in the Economic Policy Division (PRMEP) of the Poverty Reduction and Economic Management Network (PREM), as well as in related units such as the Heavily Indebted Poor Countries Unit (PRMHP) and the International Trade Department (PRMTR).

The creation of PRMEP occurred as part of a Bank-wide reorganization in 1997 that included the introduction of Bank networks and a simultaneous reorganization of the Development Economics Vice Presidency (DEC); the Bank's research and policy development group. As part of the latter, functions then maintained by DEC, such as research and policy work and operational support in fields related to economic policy reform as well as country strategy and adjustment operational review, were transferred into PRMEP. This move was made in order to promote greater collaboration between DEC, sector departments, Bank Regions, and other networks related to economic policy reform. Further, it was recognized that the country strategy and adjustment operations review functions were unsustainable in DEC and more appropriate in a sector department which offered closer proximity to staff and operational work in the Bank's regions and the ability to work across Bank operations as a network division.

During the DEC reorganization, three DEC units were terminated: the global economics research oriented International Economics Department (IEC); the development economics policy research oriented Policy Research Department (PRD); and the Development Policy Group (DPG), which was responsible for adjustment operations and country strategy review. Before its termination, IEC consisted of the following divisions: the International Trade Division (IECIT); the International Finance Division (IECIF); the International Economic Analysis and Prospects Division (IECAP); the Systems Division (IECSD); and the Socio-Economic Data Division (IECSE). PRD included the following divisions: the Environment, Infrastructure and Agriculture Division (PRDEI); the Finance and Private Sector Development Division (PRDFD); the Poverty and Human Resources Division (PRDPH); the Public Economics Division (PRDPE); the Trade Policy Division (PRDTP); and the Transition and Macro-Adjustment Division (PRDTM). DPG did not have subordinate units.

The functions and staff of IEC, PRD, and DPG were subsequently absorbed into the following new units: the Development Research Group (DECRG) and the Development Prospects Group (DECPG) in DEC, and the Economic Policy Division (PRMEP). DECRG absorbed the divisions, functions, and budget of PRD, and was established as the primary development economics policy research unit in Bank operations. The former IECIF, IECAP, and the subordinate Commodity Policy and Analysis Unit (IECCP) were merged to create the new DECPG,replacing IEC as the Bank's primary global economics and financial analysis policy research unit. The Economic Policy Division (PRMEP) absorbed economic research staff from both the PRD and IEC divisions. The DPG functions and staff were primarily mapped and absorbed into PRMEP, but other adjustment operations and country strategies review staff were also mapped into the other PREM divisions, including: the Gender Division (PRMGE); the Poverty Division (PRMPO); and the Public Sector Management Division (PRMPS).

PRMEP was responsible for coordinating World Bank strategy, knowledge management, quality enhancement, staffing and professional development, and partnerships related to economic policy. More specifically, PRMEP objectives included:

• preparing and maintaining a knowledge base in selected areas;

• coordinating Bank activities: Country Assistance Strategies (CAS), adjustment loans, technical assistance (TA) loans, economic sector work (ESW), seminars, workshops, local capacity building;

• building and maintaining data bases, analytical tools and other resource materials to reduce costs;

• improving consensus with partners by constructing a Bank view on relevant topics; and

• improving staff skills.

PRMEP supported operational and policy work in five thematic areas: development effectiveness; macroeconomic and financial management; growth and inequality; macroeconomic sustainability and creditworthiness; and trade and competiveness. The functions of PRMEP were undertaken in close collaborationwith DECRG and DECPG, the Bank regions, and the other departments of PREM.

PRMEP was governed by the Economic Policy (EP) Sector Board. The EP Sector Board main objectives included:

• strengthening the analytical underpinnings of Country Assistance Strategies (CASs);

• improving the quality of economic analysis and policy dialogue; and

• advising the Bank on strategic economic policy matters including adjustment lending operations.

The EP Sector Board consisted primarily of representatives from theabove mentioned units, and representatives from the Finance, Private Sector Development, and Infrastructure Network (FPSI). Many of DEC's representatives on the Sector Board served in a dual appointment within DEC units and PRMEP. This was done to promote greater synergy and cross-support between economic policy research and operational staff in DEC, PREM, and the Bank regions.

Homi Kharas assumed the role of Director for PRMEP in July 1997.

In 2000, the Heavily Indebted Poor Countries Unit (PRMHP) was established in PREM, following the termination of the Debt Initiative Group (AFTD1), which was focused on HIPC related issues and located in the Africa Vice Presidency (AFR). The HIPC Initiative, a joint program of the International Monetary Fund (IMF) and World Bank, was originally launched in 1996 and served as a comprehensive country debt relief program that worked in close collaboration with bilateral creditors, other multilateral banks, and representatives from civil society groups and non-governmentalorganizations (NGOs). At its inception, the AFTD1 was placed in the Africa Vice Presidency (AFR) primarily because most countries eligible under the HIPC program were located in Sub-Saharan Africa. AFTD1 was replaced by PRMHP, however, due to the raised profile of the program following the launch of the Enhanced HIPC Initiative in 1999 and an increasing number of eligible heavily indebted poor countries in other regions. PRMHP was created in order to serve as the main implementation unit in the Bank. PRMHP operated as a separate unit in PREM but coordinated closely with PRMEP in the area of debt management within the thematic area of macroeconomic sustainability and creditworthiness. PRMHP would later be merged in 2005, however, with PRMEP due to the growing demand of debt management advisory services in Bank operations. Axel von Trotsenburg, the former Manager of AFTD1, assumed the role of Senior Manager for PRMHP.

In 2000, Uri Dadush assumed the dual appointment of Director for PRMEP and DECPG.

In 2002, the international trade functions were transferred from PRMEP to a new International Trade Department (PRMTR) within PREM. Uri Dadush was appointed the new Director for PRMTR. With Dadush's new appointment, Yaw Ansu was named Director for PRMEP. The PRMEP was re-organized shortly thereafter to coordinate economic policy work in the following thematic economic policy areas:

• growth and labor markets;

• managing volatility;

• fiscal policy;

• subnational regional economies; and

• data and tools foreconomic analysis.

Operational and policy work focused on the following areas:

• macroeconomic management in the areas of economic growth, debt management, fiscal sustainability, managing volatility, and subnational economic management;

• integrative policy analysis; and

• country strategies.

PRMEP functions included: providing support to economic sector work (ESW) in the Regions; reviewing Country Assistance Strategies (CASs) and adjustment operations; preparing papers for the Executive Board; preparing policy notes on major country or global economic developments or issues; preparing briefs and speeches for senior management; and leading special task forces.

In 2004, PRMHP was mapped into the Debt Department (PRMDE) located in PREM. Around 2005, PRMDE was merged with PRMEP and renamed the Economic Policy and Debt Department (PRMED).

In 2005, Vikram Nehru replaced Ansu as Director of PRMED and in 2008, Carlos A. Primo Braga succeeded him.

As of 2014, PRMED continues to be responsible for the Bank's operational and policy work on macroeconomic management and growth, fiscal policy, and debt issues. It also continues to play a significant role in debt management activities. In addition to the HIPC Initiative, it is involved in coordinating: the multi-donor Debt Management Facility (DMF); the Debt Reduction Initiative; the Debt Reduction Facility (DRF) for IDA-Only Countries; the Debt Sustainability Framework (DSF); and medium-term debt management strategies (MTDS).

The poverty analysis and policy sector functions in the World Bank evolved from the Living Standards Measurement Study (LSMS) research project launched in 1980 by the Development Research Center (DRC) located in the Development Policy Staff (DPS). The LSMS was developed to improve the quality of collection of household data. In turn, this data was used to monitor progress of living standards; identify consequences of government policies on households; and to improve exchange of data between survey statisticians, analysts, and policy makers. LSMS efforts were overseen by DRC from 1980 to 1982. In March 1983, DRC was replaced by the Development Research Department (DRD). The DRD was located in DPS successor Economics and Research Staff (ERS). A Living Standards Measurement Unit (DRDLS) was established in DRD to oversee LSMS research projects. Dennis N. de Tray was appointed the Head of DRDLS.

In June 1987, DRD was terminated. LSMS functions were transferred from DRDLS to the new Welfare and Human Resources Development Division (PHRWH) located in the Population and Human Resources Department (PHR). Jacques van der Gaag was appointed Chief of PHRWH. The transfer of LSMS functions from DRDLS to PHRWH changed LSMS focus from a long-term research project to a permanent means of data collection, monitoring, and policy analysis within Bank operations. In 1990, the working paper entitled Improving data on poverty in the Third World: the World Bank's Living Standards Measurement Study documented this shift. LSMS additionally served as a tool for PHRWH's broader functions focused on poverty analysis and policy. PHRWH functions focused on: expanding the Bank's knowledge base regarding the causes and consequences of poverty; and providing operational and analytical support to the Regions in the design and evaluation of poverty reduction interventions. Activities undertaken in support of these functions included:

• designing and validating development policies that benefit the poor, with emphasis on the human capital formation of the poor;

• designing and validating anti-poverty strategies that target the poor;

• researching the impact of the education and training services;

• implementing the Living Standards Measurement Study (LSMS) surveys as a core basis for sector work and design of projects for poverty alleviation; and

• researching the response of households to changes in their economic environment.

In January 1992, PHRWH was closed and its functions were transferred to the Population and Human Resources Poverty Analysis and Policy Division (PHRPA). PHRPA functions included:

• research and policy analysis (including LSMS);

• monitoring poverty trends and policy implementation;

• operational support; and

• dissemination and training.

PHRPA, however, was terminated along with PHR in December 1992.

As part of the reorganization that took effect in January 1993, PHR was split between two newly created departments: the Population, Health and Nutrition Department (PHN) and the Education and Social Policy Department (ESP). Both of these departments were placed in the new Human Resources Development and Operations Policy Vice Presidency (HRO). The LSMS related functions of PHRPA were transferred to the Poverty and Human Resources Division (PRDPH) of the Policy Research Department located in the Development Economics Vice Presidency (DEC). ESP absorbed the functions of PHRPA, as well as a number of other social sectors. ESP performed work in four main thematic areas: Poverty analysis and social policy; Labor markets and safety nets; Women in Development; and Education and Training. The ESP Department was responsible for:

• formulating and disseminating policies and guidelines for its sectors;

• monitoring the effectiveness of policies and approaches;

• identifying and disseminating best practices and lessons of experience;

• liaising with Bank-external organizations and professionals in the field;

• assessing skills requirements and upgrading skills; and

• providing operational support to the Regions.

On July 1, 1995, HRO became Human Capital Development and Operations Policy (HCO). The education team was removed from ESP and placed in the newly established Human Development Department (HDD) of HCO. ESP was terminated, and the remaining teams were moved into the new Poverty and Social Policy Department (PSP). PSP contained four thematic Groups: Gender Analysis and Policy; Poverty and Social Assistance; Labor Markets, Social Protection, and Public Sector Management; and Participation and Non-Governmental Organizations. PSP's work was focused on different social sectors, but had a particular poverty reduction emphasis. Responsibilities included:

• performing analytical work covering the three elements of the Bank's poverty reduction strategy: (i) encouraging policies conducive to labor-absorbing growth; (ii) promoting human development through the provision of social services, especially primary education, primary health care, and family planning; and (iii) designing and implementing safety nets to protect vulnerable groups in society when necessary;

• providing support in preparation of poverty assessments;

• monitoring Country Assistance Strategies (CAS) to ensure poverty is at the center of the strategy; and

• preparing an annual progress report on poverty.

On December 31, 1995, Human Capital Development and Operations Policy (HCO) was terminated, and replaced by the Human Capital Development Vice-Presidency (HCD). PSP remained in HCD.

In December 1996, the Human Capital Development Vice-Presidency (HCD) was terminated. The PSP Groups of HCD were transferred to the Development Economics Vice Presidency (DEC) under the oversight of International Economic Department Director (IECDR) Masood Ahmed. The Gender Analysis and Policy Group, the Poverty and Social Assistance Group, and the Public Sector Management Group temporarily became the Poverty, Gender, and Public Sector Management Department (PGP) in January 1997. These PGP sector groups were then mapped into independent units in the new Poverty Reduction and Economic Management Network (PREM) launched in July 1997.

The new PREM Poverty Division (PRMPO) launched in July 1997 absorbed the functions of the Poverty and Social Assistance Group of PGP. The objectives of PRMPO included:

• to develop approaches to country assistance strategies that are firmly grounded on analysis and determinants of poverty, with the participation of the poor;

• to foster implementation and monitoring of poverty-focused strategies through sharing and documentation of good practices;

• to strengthen understanding of how public policy can lead to the poor expanding their capabilities and managing risks they face;

• to deepen understanding of the links between patterns of development and poverty reduction, and implications for assistance strategies;

• to deepen the Bank's understanding of the linkages between poverty and social exclusion, post-conflict situations, gender, and violence;

• to develop a program of analytical work and a broad consultative process to build up to the WDR 2000 on poverty;

• to develop practical approaches for evaluating the impact of interventions on poor households, controlling for general patterns of change;

• to support a shift in project work to greater use of feedback, evaluation and redesign of interventions and institutions to increase gains for the poor;

• to strengthen in-country capacity to generate and use data for the monitoring and diagnosis of poverty;

• to make both data and analyses widely and regularly available, within and, especially, outside the World Bank; and

• to assess the progress of the World Bank in supporting strategies, policies, and projects to reduce poverty.

In June 2001, PRMPO was closed and was replaced by the Poverty Reduction Group in the PREM Network (PRMPR). Sometime after 2005, the Poverty Reduction Group was renamed the Poverty Reduction and Equity Department (PRMPR).

Functional responsibility for financial sector development originated in the Financial Development Unit (INDFD) established in July 1983, which was located in the Industry Department (IND) of the Energy and Industry Vice Presidency (EIS). This unit was founded in the context of the 1980s debt crisis and turmoil in developing nations' financial sectors and institutions. The INDFD had the responsibility to carry out policy, research, and review work with regard to the financial sector. It additionally coordinated work with financial intermediaries in other Bank units as well as the International Finance Corporation (IFC), and the International Monetary Fund (IMF). In July 1985, INDFD was upgraded to a Division. Millard F. Long assumed the role of first Chief and later Division Chief in INDFD from 1983 to 1987.

As part of a Bank-wide reorganization in 1987, the IND was terminated. The staff and functions of the INDFD were transferred to the Financial Policy and Systems Division located in the Country Economics Department (CECFP) of the Development Economics Vice Presidency (DEC). CECFP was created in July 1987 with five other divisions, including: the Trade Policy Division (CECTP); the Debt and Macroeconomic Adjustment Division (CECDA); the Public Economics Division (CECPE); the Public Sector Management and Private Sector Development Division (CECPS); and the Special Studies Division (CECSS). CEC was responsible for providing leadership in the design and analysis of country development policies through researchpolicy work, operation advice and support, and training and liaison with outside research groups. CECFP focused specifically on financial policy and systems for financial sector lending, regulation, supervision, and restructuring. CECFP was led by Division Chief Millard Long from 1987 to 1991, and later by Andrew Len Tao Sheng in 1992.

As part of another reorganization that took effect in January 1993, the majority of financial sector development functions and staff from CECFP were transferred to the newFinancial Sector Development Department (FSD) located in the new Finance and Private Sector Development Vice Presidency (FPDVP). Some staff were also transferred to the Finance & Private Sector Development Division (PRDFP) located in the Policy Research Department (PRD) of the Development Economics Vice Presidency (DEC), which served as a research oriented division, and worked closely with the FPDVP departments, including FSD. FSD was created alongside two other subordinate departments in FPDVP, including the Private Sector Development Department (PSD) and the Industry and Energy Department (IEN). FSD was assigned responsibility for:

• formulating and disseminating policies and guidelines with regard to its sector;

• monitoring the effectiveness of policies and approaches;

• maintaining effective relations with Bank-external organizations and professionals in the field; and

• providing operational support, especially in the areas of financial sector organization and regulatory frameworks, specialized finance, bank restructuring and management, and capital markets development.

FSD work focused on the following themes: bank and enterprise restructuring; finance intermediation; capital markets development; and financial sector infrastructure. Millard Long served as Acting Director for FSD in 1993, and was later succeeded by Director Gary Perlin from 1994 to 1995 and by Acting Director Diana McNaughton from 1996 to 1997.

As part of the reorganization of the Bank in 1997, the FPDVP was terminated and replaced with the Finance, Private Sector Development and Infrastructure Network (FPSI). The research division of the PRDFP was also terminated at this time. FPSI was created along with three other networks: the Poverty Reduction and Economic Management Network (PREM); the Human Development Network (HDN); and the Environmentally and Socially Sustainable Development Network (ESSD). The FPSI consisted of four subordinate departments: the Financial Sector Department (FSD); the Private Sector Development Department (PSD); the Energy, Mining, and Telecommunications Department (EMT); and the Transportation, Water, and Urban Development Department (TWU). The responsibilities of FPSI included:

• developing vibrant private sectors with rapid job growth by implementing the financial sector reinforcement program;

• speeding up the emergence of livable, bankable, and competitive cities;

• promoting the growth in energy and infrastructure provision that is environmentally sensitive;

• stemming infrastructure deficit; and

• sharing in the promise of the Information Age.

FSD activities focused on strengthening banking, capital markets, and regulatory policy in emerging economies. In 1998, the FPSI added the financial sector oriented Special Financial Operations Unit (SFO) and the Capital Markets Development Department (CMD) to address the East Asia Financial Crisis of 1997.

The FPSI was terminated, however, in January 1999 because the network became too large with multiple sector focuses; greater response was also needed for the East Asia Financial Crisis from financial sector related units. As a result, the functions of PSD, EMT, and TWU were transferred to the newly established Private Sector Development and Infrastructure Vice Presidency (PSIVP) and the FSD, CMD, and SFO functions were transferred to the financial sector oriented Financial Operations Vice Presidency (FIOVP). At its establishment, FIOVP departments included: the Financial Sector Practice Department (FSP); the Capital Markets Development Department (CMD); and the Special Financial Operations Department (SFO). The FIOVP, however, was short lived and was terminated in June 1999.

The FIOVP was replaced by the Financial Sector Vice Presidency (FSEVP), which was launched in July 1999. FSEVP retained the FSD, FSP, CMD, and SFO departments of FIOVP, and added the new Banking and Financial Institutions Department (BFI). The joint IMF and World Bank Financial Sector Assessment Program (FSAP) pilot program was also launched in 1999 as a response to the East Asia Financial Crisis, and was designed to rapidly assess and respond to financial sector crises. The FSP department assumed FSAP responsibilities, and FSEVP representatives were also responsible to sit on the joint IMF and Bank Financial Sector Liaison Committee (FSLC) to oversee implementation of FSAP missions, and review subsequent policy development and lending.

In 2001, the FSEVP was restructured to three departments, including: the Financial Sector Strategy and Policy Department (FSP); the Financial Sector Development Department (FSD); and the Banking and Financial Restructuring Department (BFR). FSEVP was restructured again in 2003, at which point it included: the Global Partnerships Program; the Financial Market Integrity and Money Laundering Program; the Financial Market Integrity Group (FSEFI); the FIRST Trust Fund Initiative (FSEFT); the Financial Sector Strategy and Policy Department (FSEGP); and the Financial Sector Operations and Policy Department (OPD).

In 2006, the FSEVP was terminated and its functions were transferred to the Financial and Private Sector Development Vice Presidency (FPDVP). The FPDVP was organized jointly by the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). This joint effort was intended to combine the Bank's financial sector policy expertise and the IFC's rapid response advisory services to more effectively meet the growing demand for private and financial sector development services from developing countries. The FSEVP functions were combined with existing IFC private sector development oriented units, including: the Corporate Governance and Capital Markets Advisory (CCG); the Global Corporate Governance Forum (GCGF); and the Investment Climate Group (CIC). The joint IFC and MIGA Foreign Investment Advisory Service (FIAS) was also included in the new FPDVP. The transferring of FSE functions created the following new groups and advisory services: the Financial Market Integrity Group (FPDFI); the FinancialMarkets for Social Safety Net Group (FPDSN); the Financial Systems Group (FPDFS); and the Financial Sector Reform and Strengthening (FIRST) Initiative. Around 2010, the FPDVP was restructured, and the following groups were added: the Global Indicators and Analysis Group (GIA); the Global Markets Development Group (GCM); and the Financial Inclusion Group. FPDFS, CGP, CIC, FIRST, FIAS, and CGP units were retained.

The Finance and Private Sector Development Vice Presidency (FPD) was one of three Vice Presidencies created during President Lewis Preston's reorganization of January 1, 1993. Following the abolishment of all Senior Vice Presidencies on December 1, 1991, Preston initiated a larger reorganization in 1993 that aligned the Bank's organization with the priority areas of its poverty reduction effort. The result was three new thematic vice presidencies: FPD; Human Resources Development and Operations Policy (HRO); and Environmentally Sustainable Development (ESD). The vice presidencies were responsible for:

• providing operational support to the Regions by participating in Sector Operations Division (SOD) task teams, undertaking specialized assignments for the Regions, providing ad hoc advice, distilling lessons of operational experience, disseminating best practices, and defining sector and operational policies;

• assisting in identifying and addressing the Bank's skills mix and training needs;

• providing information and intellectual support to interested parties outside the Bank;

• liaising with the UN and other official and private organizations; and

• delivering complete products to the country directors in the 'clustered' subsectors, where the small number of expert staff can most efficiently be located in the central Vice Presidency.

At the time of its establishment, the FPD Vice Presidency had three departments: the Financial Sector Development Department (FSD); the Private Sector Development Department (PSD); and the Industry and Energy Department (IEN). FSD absorbed the functions and staff of the former Financial Policy and Systems Division of the Country Economics Department (CECFP) located in the Development Economics Vice Presidency (DEC). The PSD absorbed the functions and staff of the former Public Sector Management and Private Sector Development Division of the Country Economics Department (CECPS), which was also previously located in DEC. IEN was transferred from the Sector and Operations PolicyVice Presidency (OPS). FPD departments were responsible for the following functions:

• preparing policies, guidelines, standards, handbooks and analytical tools relevant to the sector;

• identifying, codifying and disseminating best practices and lessons of experience, and evaluating weaknesses;

• providing advice to the Regions as needed;

• monitoring and tracking work in the sectors assigned in order to identify generic issues and identify, evaluate and influence trends and patterns;

• performing surveys of experience and practice within the Bank and elsewhere, and developing innovative approaches;

• participating in Bankwide efforts to assess skill requirements, and to upgrade skills through recruitment, training, orientation, seminars, newsletters, etc.;

• representing the Bank to external communities of interest; and

• maintaining an awareness of relevant external practices and viewpoints.

Jean-Francois Rischard assumed the role as Vice President for FPD in January 1993.

As part of the reorganization of the Bank in 1997, the FPDVP was terminated and replaced with the Finance, Private Sector Development and Infrastructure Network (FPSI). FPSI was created along with three other networks: the Poverty Reduction and Economic Management Network (PREM); the Human Development Network (HDN); and the Environmentally and Socially Sustainable Network (ESSD). The FSD, PSD, and IEN departments of FPDVP were transferred to FPSI, joining the new Transportation, Water, and Urban Development Department (TWU).

The Private Sector Development (PSD) Sector of the World Bank is broadly defined as those "activities which encourage the growth of an efficient private sector capable of contributing to economic development." The origins of PSD functions in the World Bank evolved out of the Development Finance Companies Department (DFC) established in 1968. The DFC replaced the Development Banks Department (DBD), which was transferred to the World Bank from its World Bank Group organization affiliate, the International Finance Corporation (IFC). DFC reported directly to the Office of the President (EXC). Development finance companies or DFCs (e.g. commercial and development banks, apex banks, government banks, and state enterprise finance banks) were used as a means to finance or serve as intermediaries for private sector investment for small and medium enterprises (SME). Unlike the IFC, the Bank did not directly lend to private sector enterprises, but their support in developing DFCs served as an indirect way to bolster private sector development because it created greater efficiency and expanded availability of credit for private sector lending. DFC was given the following tasks: expand the work program with respect to private and government-controlled development finance companies (DFCs); to streamline procedures for this work within the World Bank Group; and permit the IFC to concentrate on direct financing and promotion of projects in the private sector. More specific responsibilities of DFC Department included:

• keeping informed about and advising the World Bank Group on policies, procedures and problems of DFCs;

• evaluating proposals for DFC establishment, reorganization of expansion;

• recommending a suitable capital structure, organization and operating policies for new DFCs, and preparing and supervising a program for raising the needed capital;

• maintaining close contact with all Bank-assisted DFCs and monitoring their performance;

• assisting in the recruitment and training, in cooperation with the EconomicDevelopment Institute, of the management of these institutions; and

• reviewing appraisals of projects submitted for financing by DFCs.

On the date of its establishment, the DFC Department had seven operational divisions. Five of them, Division I (DFCD1), Division II (DFCD2), Division III (DFCD3), Division IV (DFCD4), and Division V (DFCD5) were transferred from the IFC. Two new divisions, Division VI (DFCD6) and Division VII (DFCD7), were added to explore potential DFC activities in Africa and Latin America. With the exception of Divisions VI and VII, the divisions were not based on geographical regions. William Diamond assumed the role of DFC Director.

In 1971, the seven DFC divisions were consolidated into five, which were based on geographical regions: Latin America and the Caribbean (DFCD1); Europe, Middle East, and North Africa (DFCD2); Africa (DFCD3); South Asia (DFCD4); and East Asia (DFCD5).

As part of the Bank-wide reorganization in 1972, DFC began reporting to the Vice President of CentralProjects (CPS). Most DFC staff was decentralized to regional projects departments in the newly established Regional Vice Presidencies. This left a core Department of advisors with responsibility for operational and development policy, research, operational support, and quality control for project and sector work. The exception was the Africa Division, which changed its acronym to DFCAF and remained intact as a centralized division. In that same year, Douglas Gustafson became the new Director of DFC.

In 1975, David Gordon took over as Director for DFC.

On February 11, 1977, as a result of the realignment of all industrial activities related to the Bank's Urban Poverty Program, DFC was terminated. Most of DFC functions were transferred to the new Intermediaries Unit (IDFIN) of the Industrial Development and Finance Department (IDF), which was assigned the responsibility for operational support to the Regional Vice President on lending to development finance companies. The IDFIN was short lived, however, andwas terminated in the summer of 1978.

In the period from the late 1960s and 1970s, the DFC served as the closest unit that resembled activities related to private sector development sector within the Bank. The Bank did not have an explicit unit devoted to PSD during this time, and the affiliate IFC remained the focal point for private sector development related functions of the broader World Bank Group. The Bank's private sector development approach consisted of lending through intermediaries such as DFCs, or investment in public sector entities and infrastructure, which was intended to create a stable and efficient environment for long-term private sector growth. In the late 1970s and early 1980s, however, the economies of many Bank member countries were increasingly perceived as being overburdened with overly large, wasteful, and inefficient public sector entities that stymied economic development. In response, the Bank began a shift towards establishing a different balance for public and private sectors. The new approach included advocating for privatization of public services, development of financial markets, reduction and limitation of public spending, and investment in private enterprises. As a consequence, Bank private sector development activities evolved from the public sector reform initiatives of this period.

In 1983, the Bank established the Public Sector Management Unit (PPDPS) located in the Projects Policy Department (PPD). PPDPS was given the responsibility of advising and developing strategies for improving the management of governments and government-controlled enterprises by reducing excessive staffing, and privatization of selected public services. Arturo Israel was named Chief for PPDPS.

As part of the 1987 Bank-wide reorganization, the PPD was terminated. The functions and staff of the PPDPS were transferred to the newly established Public Sector Management and Private Sector Development Division (CECPS) located in the Country Economics Department (CEC) of the Development EconomicsVice Presidency (DEC). CECPS was created in July 1987 with five other divisions, including: the Trade Policy Division (CECTP); the Debt and Macroeconomic Adjustment Division (CECDA); the Public Economics Division (CECPE); the Financial Policy and System Division (CECFP); and the Special Studies Division (CECSS). CECPS responsibilities included:

• providing intellectual leadership;

• advising on Bank policy;

• participating in missions to prepare and appraise projects and advise governments;

• acting as a liaison with other agencies active in public sector management and private sector development;

• developing and implementing training courses for Bank staff; and

• promoting research in the areas of public sector management and private sector development.

CECPS specifically focused on private sector development activities such as privatization of state-enterprises, performing private sector assessments, and improving the relations between the public and private sector through regulatory reform. Arturo Israel assumed the role as Division Chief for the newly established CECPS.

In 1989, at the request of World Bank President Barber Conable, a Private Sector Development Review Group was established to assess private sector development activities in the World Bank Group and make recommendations for further expansion of private sector development services in the World Bank, IFC, and a newly established World Bank affiliate, the Multilateral Investment Guarantee Agency (MIGA). The Private Sector DevelopmentReview Group and members of CECPS were responsible for summarizing private sector development activities within the World Bank Group and produced the report Developing the Private Sector: A Challenge of the World Bank Group. The subsequent report helped produce the Action Program on Private Sector Development, and the Private Sector Development Committee, which oversaw the implementation of the Action Program. This expansion was pursued due to the Bank Group member countries growing demand for private sector development related services. The Action Program resulted in: the capital expansion of the IFC; greater collaboration between the Bank, IFC, and MIGA in private sector development functions; and a larger private sector development profile in the Bank.

In the Bank, expansion of private sector development related activities included the creation of the Private Sector Operations Group (CFSPS) within the newly established Co-financing and Financial Advisory Services Vice Presidency (CFS) in June 1989. CFSPS did not replace the research and policy analysis oriented CECPS, but served a different function in providing private sector development advisory services and resource mobilization to membership countries through the Bank Regions via their Country Departments. CFS responsibilities included:

• assisting member countries in restructuring debt;

• assisting member countries with deregulation, public sector restructuring and privatization;

• advising member countries on management of their foreign financial assets and liabilities; and

• procuring co-financing arrangements from commercial and public sources.

CFSPS was responsible for supporting Bank operations in mobilizing private and official participation for private sector led investments in developing countries. The CFSPS private investments included physical infrastructure projects, and restructuring of public sector enterprises through privatization and divestiture. CFSPS was created alongside the Financial Advisory Services Group (CFSFA) and the Co-financing Group (CFSCO). Ibrahim I. Elwan assumed the role of Manager of CFSPS.

In 1990, Mary M. Shirley replaced Arturo Israel as Division Chief for CECPS.

In 1991, the CFSPS was renamed the Private Sector Financial Operations Group (CFSPS). In that same year, the Private Co-financing Group (CFSPC) was added to CFS.

In February 1992, CFS underwent a reorganization to strengthen private sector development functions and to help streamline the process of financial resource mobilization. The re-organization included the merger of CFSPS, CFSPC, and some of the staff and functions from CFSFA. The new merger was renamed the Private Sector Finance and Advisory Services Group (CFSPS). The Group re-organized again in 1992, however, and was renamed the Private Sector Development and Privatization Group (CFSPS). Kevin Young assumed the role of Manager for the new CFSPS.

As part of the Bank-wide reorganization that took effect in January 1993, CECPS was terminated and its functions and staff were transferred to two new Bank units. Some of the private sector development oriented research staff in CECPS were transferred to the Finance and Private Sector Development Division (PRDFD) located in the newly established Policy and Research Department (PRD) of the Development Economics Vice Presidency (DEC). The bulk of CECPS staff and functions were transferred to the Private Sector Department (PSD) located in the new Finance and Private Sector Development Vice Presidency (FPDVP). CFSPS was left unchanged in this re-organization.

At its establishment, PSD was created alongside two other complimentary departments in FPDVP: the Financial Sector Development Department (FSD), and the Industry and Energy Department (IEN). PSD responsibilities included:

• formulating and disseminating policies and guidelines with regard to its sector;

• monitoring the effectiveness of policies and approaches;

• liaising with Bank-external organizations and professionals in the field; and

• providing operational support aimed at improving the enabling environment for private sector development through reforms of the regulatory framework, small business development, accounting and auditing infrastructure, market and technology information, and trade facilitation services.

PSD did not have any formal divisions, but was organized into task-specific teams, each led by a designated manager. The teams included: the Restructuring and Privatization Team; the Policy and Regulatory Framework Team; and the Private Sector Development Team. Magdi Iskander assumed the role of PSD Director.

PRDFP, which worked closely with PSD and the FSD department in the FPDVP, focused specifically on research and policy analysis. PRDFP work was organized under two general themes of financial markets and the public-private boundary. Mary M. Shirley assumed the role of Division Chief for PRDFP.

In 1996, the CFS was terminated. As a consequence, the staff and functions of the Private Sector Development and Privatization Group (CFSPS) were transferred to PSD in FPDVP, and its acronym changed to PSDPS.

As part of the reorganization of the Bank in 1997, the FPDVP was terminated and replaced with the Finance, Private Sector Development and Infrastructure Network (FPSI). The research division of the PRDFP was also terminated at this time. FPSI was created along with three other networks: the Poverty Reduction and Economic Management Network (PREM); the Human Development Network (HDN); and the Environmentally and Socially Sustainable Network (ESSD). The FSD, PSD, and IEN departments of FPDVP were transferred to FPSI, and joined a new Transportation, Water, and Urban Development Department (TWU). IEN's acronym was changed to EMT with the creation of FPSI. The responsibilities of FPSI included:

• developing vibrant private sectors with rapid job growth by implementing the financial sector reinforcement program;

• speeding up the emergence of livable, bankable, and competitive cities;

• promoting the growth in energy and infrastructure provision that is environmentally sensitive;

• stemming infrastructure deficit; and

• sharing in the promise of the Information Age.

Within PSD, the following groups were created: the Private Sector Development and Privatization Group (PSDPS); the Private Participation in Infrastructure Unit (PSDPP); the Business Environment Unit (PSDBE); the Knowledge Management Unit (PSDKM); the Enterprise Group (PSDEN); and the Micro-finance and Small and Medium Enterprises Group (PSDMF). PSD focused on the following areas: enterprise reform and privatization; increasing private provision in infrastructure (PPI) and social services; micro-finance and small medium enterprise (SME) promotion; and strengthening business environment. Magdi Iskander remained the PSD Director for the new FPSI.

The FPSI was short lived, however, and terminated in January 1999. The FPSI was partially terminated because it was too large with multiple sector focuses. WorldBank Group President James D. Wolfensohn also sought greater integration of the World Bank and its affiliate IFC. IFC specialized in private sector development advisory and investment services, and greater integration helped eliminate duplication of private sector development related activities between the Bank and IFC, and would help create more efficient delivery of private sector development services. The result of this integration was the creation of the Joint IFC and Bank Private Sector Development and Infrastructure Vice Presidency (PSIVP). Functions and staff from PSD, EMT, and TWU departments of FPSI were transferred to the new PSIVP. The staff and functions of FSD were transferred to the new Financial Operations Vice Presidency (FIOVP). At the time of its establishment, PSIVP included the following joint IFC and Bank departments and units: the Oil, Gas, and Chemicals Department (COC); the Small and Medium Enterprise Department (SME); the Global Information and Communications Technologies Department (CIT); the Mining Department (CMN); and the Private Sector Advisory Services (PSAS). To facilitate this new integration, Peter Woicke was given the dual role of IFC Executive Vice President and Managing Director for the World Bank. Nemat Talaat Shafik assumed the role as Director for PSIVP, reporting to Peter Woicke.

In late 1999, the former PSD units of FPSI, the joint IFC and World Bank Foreign Investment Advisory Services (FIAS), and the IFC Corporate Finance Services (CFS) were integrated and mapped into new units for the PSAS department of the PSIVP. The new units of PSAS included: the Rapid Response Unit (PSARR); the Corporate Governance Unit (PSACG); the Private Provision of Public Services Unit (PSAPP); the Business Environment and Foreign Investment Unit (PSABE and PSAFI); the Privatization Policy and Transaction Unit (PSAPT and PSAPO); and the Privatization Strategy and Policy Unit (PSAGM).

In 2002, CMN was merged with COC to form the new Oil, Gas, Mining, and Chemicals Department (COC) in PSIVP.

In June 2003, PSIVP was terminated and its functions and staff were spilt among the new joint IFC and Bank Private Sector Development Vice Presidency (PSDVP) and the Bank's new Infrastructure Network (INF). The COC and CIT departments of PSIVP were transferred to INF, while PSAS and SME were transferred and mapped into PSDVP. At its establishment, PSDVP consisted of the following joint IFC and Bank departments and units: the Investment Climate Department (CIC); the Private Sector Development Operations (CIO); and the Small and Medium Enterprises Department (CSM). SME functions and staff were absorbed by the CSM, and the PSAS functions and staff were absorbed by CIC. Michael Klein assumed the role as PSD Vice President, reporting to Peter Woicke.

Around 2004, the PSDVP added the Rapid Response Unit, the Corporate Governance Department (CCG), and the Global Corporate Governance Forum (GCGF).

In 2006, the PSDVP was terminated and its functions were transferred to the new Financial and Private Sector Development Vice Presidency (FPDVP). The FPDVP integrated the departments and units from the PSDVP and the Bank's Financial Sector Vice Presidency (FSEVP). This integration effort was sought to combine the Bank's financial sector development policy expertise and the IFC's private sector development rapid response advisory services to more effectively meet the growing demand for private and financial sector development services from developing countries. At its establishment, the FPDVP included: the Corporate Governance and Capital Markets Advisory (CCG); the Global Corporate Governance Forum (GCGF); the Investment Climate Group (CIC); the Foreign Investment Advisory Service (FIAS); the Financial Market Integrity Group (FPDFI); the Financial Markets for Social Safety Net Group (FPDSN); the Financial Systems Group (FPDFS); and the Financial Sector Reform and Strengthening (FIRST) Initiative. Around 2010, the FPDVP was restructured, and the following groups were added: the Global Indicators and Analysis Group (GIA); the Global Markets Development Group (GCM); and the Financial Inclusion Group. FPDFS, CGP, CIC, FIRST, FIAS, and CGP units were retained.

Gender and development sector work in the World Bank originated within the context of the United Nations Decade for Women (1976-85). In 1977, the World Bank established the Adviser on Women in Development (WID) position. Gloria Scott was selected to serve as the first WID Adviser. The Adviser position initially reported to the Office of the Vice Presidency for Central Projects (CPSVP) from 1977 to 1980 and then to the Projects Policy Department (PPD) from 1980 to 1985. The responsibilities of the WID Adviser included reviewing Bank development projects in the preparation stages for potential implications for women, and advising on how projects could serve the unique needs of women. Additionally, the WID Adviser assessed projects and their long-term impacts on women. The WID Adviser focused particularly on projects related to the education, agriculture and rural development, urban development, industry, and population, health, and nutrition sectors. The WID Adviser additionally produced key research, studies,and training on women related issues. One result of this role was Gloria Scott's key publication: Recognizing the Invisible Woman in Development: The World Bank's Experience published in 1979.

By the mid-1980s, the WID Adviser role was successfully producing studies, policy, and training on women's issues in developing countries, but incorporation of women related measures into Bank funded development projects remained limited. This began to change however, with the establishment of the Women in Development Division (PHRWD) in July 1987 within the newly created Population and Human Resources Department (PHR). Barbara Herz, who succeeded Scott in 1985, served as the first Division Chief of PHRWD, and emphasized a greater focus on applying "women in development" policies to projects: "We want to get beyond studies and training. We want to show what can actually be done to include women in development programs and how that contributes to economic performance, easing of poverty, and other development activities" (The Bank's World, Volume 6: Number 11, November 1987, page 9).

The PHRWD was created alongside three other divisions in PHR: the Education and Employment Division (PHREE), the Population, Health and Nutrition Division (PHRHN), and the Welfare and Human Resource Division (PHRWH). The divisions of the PHR Department were responsible for:

• formulating policies and strategies for human resource development and women in development, and developing new initiatives and Bank products;

• conducting the supporting research, including the improvement of research capabilities in developing countries, and management of external research funded through the Research Support Budget;

• improving methodology and identifying best practices;

• performing ex-post evaluation of the in the Bank's human resource sector work;

• providing operational support;

• liaising with non-Bank organizations and professionals in this field;

• developing household data on living standards; and

• assisting in the recruitment and training of staff.

On January 1, 1993, the PHR was terminated as part of a larger initiative to align the organization of the Bank's sector work with the priority areas of its poverty reduction effort. Its functions were split between a new Population, Health and Nutrition Department (PHN) and an Education and Social Policy Department (ESP) in the Human Resources andOperations Policy Vice Presidency (HRO). ESP absorbed the functions of the PHRWD and the PHREE. It also absorbed the functions of the Divisions for Poverty Analysis and Policy (PHRPA), which was formerly the PHRWH. The ESP Department was responsible for:

• formulating and disseminating policies and guidelines for its sectors;

• monitoring the effectiveness of policies and approaches;

• identifying and disseminating best practices and lessons of experience;

• liaising with Bank-external organizations and professionals in the field;

• assessing skills requirements and upgrading skills; and

• providing operational support to the Regions.

The ESP Department did not have formal divisions, but was organized into task-specific teams. The following four teams were included: Education; Women in Development; Poverty Analysis and Policy; and Economic Analysis and Labor Markets.

In 1994, the World Bank shifted from a Women in Development (WID) policy to a Gender and Development (GAD) policy. WID policy focused exclusively on women's roles, responsibilities, and needs in regards to specific World Bank development projects. GAD policy still made women's issues a vital focus, but provided a broader policy that emphasized reducing gender inequalities between men and women by targeting the complex social, economic, political, legal, and cultural factors that impede women's participation in economic development. GAD policy in the Bank was prompted by the strategy paper Enhancing Women's Participation in EconomicDevelopment, and resulted in the adoption of the World Bank operational policy "OP 4.20 Gender and Development (GAD)" in 1994. The new policy emphasis evolved from the still limited integration of women's issues into World Bank development projects and programs. "OP 4.20 GAD" took a country level approach by mandating that Country Gender Assessments (CGA) be performed to diagnose gender related issues within in a member country. Once a CGA was complete, this information would become part of the Country Assistance Strategy (CAS), helping to embed gender-informed policy into all subsequent projects within that country. This differed greatly from WID projects that performed a social analysis of women's issues only at the development project level.

On July 1, 1995, the ESP was terminated and its replacement reflected the shift from WID to GAD policy. HRO became Human Capital Development and Operations Policy (HCO), and ESP was replaced by the Povertyand Social Policy Department (PSP). The ESP education functions were moved into the new Human Development Department (HDD). The WID functions of ESP were replaced by the Gender Analysis and Policy (GAP) Group. GAP was responsible for:

• helping the Bank to define and implement its gender policies;

• conduct research on gender-related issues in areas such as education, property rights, labor markets, and economies in transition;

• provide gender training for World Bank staff;

• and provide operational support to the Regional Vice Presidencies.

Minh Chau Ngyuen assumed the role of Manager for GAP from July 1995 to December 1996.

On December 31, 1996, the Human Capital Development Vice-Presidency (HCD, formerly the HCO) was terminated as part of President's Wolfensohn's reorganization of the World Bank. PSP was temporarily relocated under the oversight of Director Masood Ahmed of the International Economic Department (IEC), a unit within the Development Economics Vice Presidency (DEC). Ahmed was transitioning into the role of Vice-President for the new Poverty Reduction and Economic Management Network (PREM). In this transition period from January 1, 1997 to June 31, 1997, the PSP became the Poverty, Gender, and Management Units (PGP). The various divisions of PGP were then mapped into the newly created PREM sector departments. Much of PGP staff and functions were mapped into the PREM Gender Division (PRMGE), which launched in July 1997. In 1997, the PRMGE consisted of the Gender and Development (GAD) Board led by the head role of GAD manager. In 1998, the head role of GAD was raised to director. From 1997 to 1998, Joanne Salop served as both the Interim Manager and the Director of PRMGE. The GAD responsibilities included:

• knowledge management;

• regular monitoring and reporting of policy implementation;

• and for building capacity to mainstream gender within the Bank.

In 1999, Karen Mason succeeded Joanne Salop to become the Director of PRMGE. She served in this role until January 2005.

The publications of the World Bank policy research report Engendering Development - Through Gender Equality in Rights, Resources and Voice in 2001, and the PRMGE produced strategy paper "Integrating Gender into the World Bank's Work: A Strategy for Action" in 2002, prompted revision of "OP 4.20 GAD" in 2003. Both publications provided a detailed framework in how gender actions could be further mainstreamed into Bank operations. This produced the revised "OP 4.20 GAD" and a new parallel bank procedure "BP 4.20 GAD". The new revisions provided significantly more guidance for gender policy integration for country directors, sector managers, and task teams than had previous "OP 4.20 GAD" policies. PRMGE remained the main gender and development sector in charge of oversight, monitoring, and support of gender and development initiatives within the World Bank, but the "OP 4.20 GAD" embedded gender and development policy compliance measures across networks, regions, and country operations.

In 2005, Mayra Guvinic succeeded Karen Mason as the Director of PRMGE, and served in this position until 2011.

In 2006, the PREM Vice President, the PRMGE GAD Board, and other World Bank regional and network officials partnered with the OECD Development Assistance Committee Network on Gender Equality (GENDERNET) to pursue a plan to achieve the UN Millennium Development Goal 3 (MDG3), which seeks to "Eliminate gender disparity in primary and secondary education, preferably by 2005, and in all levels of education no later than 2015".

GENDERNET included a forum of gender experts from numerous international development agencies, including World Bank officials. The partnership resulted in the Gender Equality as Smart Economics: A World Bank Action Plan. The Action Plan was intended to achieve MDG3 goals and economic empowerment of women, but it had an additional purpose of hastening the mainstreaming of gender policies outlined in "OP 4.20 GAD" and "BP 4.20 GAD" into World Bank operations. The Action Plan was undertaken over the years 2007 to 2011.

In August 2011, Jeni Klugman succeeded Mayra Guvinic as Director of PRMGE.

In 2012, gender and development policy received unprecedented attention and visibility within the World Bank when the Bank's key annual publication of the World Development Report (WDR) focused on the theme of Gender Equality and Development.

The Financial Sector Vice Presidency (FSEVP) was launched in July 1999. FSEVP replaced the short lived Financial Operations Vice Presidency (FIOVP). FSEVP oversaw the following FIOVP departments: the Financial Sector Development Department (FSD); the Financial Sector Practice Department (FSP); the Capital Markets Development Department (CMD); and the Special Financial Operations Department (SFO). In addition, Banking and Financial Institutions Department (BFI) was created and placed in FSEVP. The joint IMFand World Bank Financial Sector Assessment Program (FSAP) pilot was also launched in 1999 as a response to the East Asia Financial Crisis, and was designed to rapidly assess and respond to financial sector crises. The FSP department assumed FSAP responsibilities, and FSEVP representatives also sat on the joint IMF and Bank Financial Sector Liaison Committee (FSLC) which oversaw implementation of FSAP missions and reviewed subsequent policy development and lending. Other responsibilities of FSEVP included:

• providing support to the Bank's client countries in the area of financial sector reform;

• supporting countries goals to reduce vulnerabilities in their financial sector and make financial systems stable and efficient;

• administering the Financial Sector Assessment Program jointly with the International Monetary Fund;

• providing advice and technical assistance to crisis countries;

• working with regional departments to formulate financial sector strategies for the systematically important countries;

• generating knowledge in the financial sector, providing research and policy notes on key topics and emerging trends; and

• promoting stability in financial systems by working closely with international standard setting bodies in updating and revising standards in the areas of banking, securities markets, insurance, and payment systems.

In 2001, the FSEVP was restructured to three departments, including: the Financial Sector Strategy and Policy Department (FSP); the Financial Sector Development Department (FSD); and the Banking and Financial Restructuring Department (BFR). FSEVP was restructured again in 2003, at which point it included: the Global Partnerships Program; the Financial Market Integrity and Money Laundering Program; the Financial Market Integrity Group (FSEFI); the FIRST Trust Fund Initiative (FSEFT); the Financial Sector Strategy and Policy Department (FSEGP); and the Financial Sector Operations and Policy Department (OPD).

In 2006, the FSEVP was terminated and its functions were transferred to the new joint Bank and IFC Financial and Private Sector Development Vice Presidency (FPDVP). The FSEVP departments and units were merged with the departments and units of the joint Bank and IFC Private Sector Development Vice Presidency (PSDVP) to form the new FPDVP.

The Finance, Private Sector Development, and Infrastructure Network (FPSI) was created in 1997 as part of President Wolfensohn's reorganization of the World Bank. The reorganization's objective was to strike a better balance between "country focus" and "sectoral excellence". It was also motivated by the recognition that the Bank's development programs were excessively driven by a culture of lending, and there was a the need to increase attention on client needs and the quality of results. To facilitate sharing of expertise and knowledge, the Bank established networks that linked Bank-wide communities of staff working in the same field across organizational boundaries and with external partners. The networks were intended to link staff working in the same sectors throughout the Bank, whether the staff member was located in the regional vice presidencies, central vice presidencies' sectoral departments, Independent Evaluation Group (IEG, formerly the Operations Evaluation Group [OED]), World Bank Institute (WBI, formerly the Economic Development Institute [EDI]), or Development Economics (DEC). The objectives and responsibilities of the networks were many: reduce fragmentation; increase information flow; set priorities; manage quality; run the information system; consolidate external partnerships; vet staff promotions; and disseminate best practices. The work programs of network staff focused on:

• Global knowledge - putting the best development knowledge in the hands of Bank task teams; ensuring that the knowledge base was accessible to external clients; and contributing to the growth of the knowledge base.

• Enhanced skills - developing and providing content for training courses; establishing professional and technical standards for professional development.

• Shared strategies - assisting regional and central units to develop a common sector agenda, and ensuring that skills are effectively deployed across the entire network. Network leadership assumed responsibility for global programs, sector strategy development and evaluation, strategic partnerships, and learning and dissemination.

• Best teams and best practices - improving the Bank's flexibility and mobility by building stronger task teams and delivering higher quality products.

• Institutional initiatives - providing substantial support for new Bank-wide initiatives, such as social development, rural development, financial sector, anti-corruption, human resources, and knowledge partnerships.

FPSI was created along with three other networks: the Poverty Reduction and Economic Management Network (PREM); the Human Development Network (HDN); and the Environmentally and Socially Sustainable Network (ESSD).

FPSI absorbed the staff and functions from the former Finance and Private Sector Development Vice Presidency (FPD) as well as the Transportation, Water, and Urban Development Department (TWU) of the former Environmentally Sustainable Development Vice Presidency (ESD).

At its establishment, the FPSI consisted of four subordinate departments: the Financial Sector Department (FSD); the Private Sector Development Department (PSD); the Energy, Mining, and Telecommunications Department (EMT); and the Transportation, Water, and Urban Development Department (TWU). The objectives of FPSI included:

• developing vibrant private sectors with rapid job growth by implementing the financial sector reinforcement program;

• speeding up the emergence of livable, bankable, and competitive cities;

• promoting the growth in energy and infrastructure provision that is environmentally sensitive;

• stemming infrastructure deficit; and

• sharing in the promise of the Information Age.

In 1998, FPSI added the financial sector oriented Special Financial Operations Unit (SFO) and the Capital Markets Development Department (CMD) to address the East Asia Financial Crisis of 1997.

Jean Francois-Rischard, former VP of FPD, served as FPSI Vice President and Head of Network at the inception of the FPSI, but was later replaced by Masood Ahmed in 1998, who served as an acting VP and Head of Network.

The FPSI was short lived,however, and was terminated in January 1999. The FPSI was partially terminated because it was too large and oversaw multiple sector focuses. World Bank Group President James D. Wolfensohn also sought greater integration of the World Bank and its affiliate IFC, which specialized in private sector development advisory and investment services. The integration was the creation of the Joint IFC and Bank Private Sector Development and Infrastructure Vice Presidency (PSIVP). Functions and staff from PSD, EMT, and TWU departments of FPSI were transferred to the new PSIVP. The staff and functions of FSD were transferred to the new Financial Operations Vice Presidency (FIOVP), which became the Financial Sector Vice Presidency (FSEVP) shortly thereafter in July 1999.

Prior to 1983, public sector management or activities aimed specifically at reforming public sector institutions and entities within developing countries remained virtually absent from World Bank operations. In the late 1970s and early 1980s, however, the economies of many Bank member countries were increasingly perceived as being overburdened with large, wasteful, and inefficient public sector entities that hindered economic development. Public sector reform was sought to reduce wasteful spending, limit public sector growth, and create a different balance between the public and private sectors in developing countries.

In 1983, the Bank responded to the public sector reform demand by establishing the Public Sector Management Unit (PPDPS) located in the Projects Policy Department (PPD). PPDPS was given the responsibilities of research, operational support, and developing strategies for improving the management of governments and government-controlled enterprises. The PPDPS focused on areas of civil servicereform, and privatization of selected public services to improve balance of the public and private sectors. Arturo Israel was named Chief for PPDPS.

Around 1987, the Bank established its first Regional Technical Department devoted to Public Sector Management in the Africa Regional Vice Presidency (AFR). Like other sector-oriented units in the Technical Department, the Public Sector Management Division (AFTPS) was responsible for region-and country- specific knowledge collection, assessment and dissemination through regional sector studies and planning, operational support, staff training, and the provision of advice and materials to Bank staff, clients, and donors. Through PPDPS and the Regional Technical Departments, public sector reform was addressed through the utilization of a variety of lending instruments, including: structural adjustment and credits; public enterprise reconstruction loans and credits; and freestanding technical assistance loans and credits for public sector management.

As part of the 1987 Bank-wide reorganization, the PPD was terminated. The functions and staff of the PPDPS were transferred to the newly established Public Sector Management and Private Sector Development Division (CECPS) located in the Country Economics Department (CEC) of the Development Economics Vice Presidency (DEC). CECPS was created in July 1987 with five other CEC divisions, including: the Trade Policy Division (CECTP); the Debt and Macroeconomic Adjustment Division (CECDA); the Public Economics Division (CECPE); the Financial Policy and System Division (CECFP); and the Special Studies Division (CECSS). CECPS responsibilities included:

• providing intellectual leadership;

• advising on Bank policy;

• participating in missions to prepare and appraise projects and advise governments;

• acting as a liaison with other agencies active in public sector management and private sector development;

• developing and implementing training courses for Bank staff; and

• promoting research in the areas of public sector management and private sector development.

CECPS combined private sector development and public sector management focuses to help foster a better balance of private and public sectors within member countries. Specific CECPS activities included advising on privatization of state-enterprises, performing private sector assessments, and improving the relations between the public and private sector through regulatory reform. Arturo Israel assumed the role as Division Chief for the newly established CECPS.

TheLatin America debt crisis of the 1980s, the collapse of the Soviet Union in 1991, and the World Bank Report Sub-Saharan Africa: From Crisis to Sustainable Growth: A Long-Term Perspective Study:http://documents.worldbank.org/curated/en/1989/11/439705/crisis-sustainable-growth-sub-saharan-africa-long-term-perspective-study published in 1989 prompted renewed interests in public sector management related activities in World Bank operations, and also marked a shifting point in re-defining public sector management within the World Bank. Public sector management services were in demand to stabilize rapid decentralization and for limiting growing fiscal deficits in Latin America. The fall of the Soviet Union also created an immediate demand for public sector management services to help decentralize, reduce, and modernize the large and overburdened Central and Eastern European governments of the former Soviet Union. The Sub-Saharan publication detailed the systematic failure of many governments and public sector institutions in Sub-Saharan Africa member countries. It additionally introduced the topic of "good governance" in relation to public sector management.

The World Bank responded by increasing and enhancing public sector management activities and staff in the existing Public Sector Management Division in the Africa Technical Department (AFTPS) and, in 1991, establishing similar Public Sector Management Technical Advisory Divisions in the Latin America and Caribbean Regional Vice Presidency (LACVP) and the Europe and Central Asia Regional Vice Presidency (ECAVP).

A governance task force was also launched in 1991 in response to the Sub-Saharan Africa publication. Two reports were subsequently published: the Governance and Development:http://documents.worldbank.org/curated/en/1992/04/440582/governance-development report published in 1992, and the Governance: the World Bank's Experience:http://documents.worldbank.org/curated/en/1994/05/698374/governance-world-banks-experience report published in 1994. The reports built on the good governance topic introduced in the Sub-Saharan Africa publication and articulated a World Bank specific governance definition: "Governance is the manner in which power is exercised in the management of a country's economic and social resources for development" (Governance and Development, World Bank, 1992, pgs. 1-2). Three aspects of governance were outlined:

• the form of the political regime;

• the process by which authority is exercised in the management of a country's economic and social resources for development; and

• the capacity of governments to design, formulate, and implement policies and discharge functions.

The reports additionally broke down governance into four dimensions: public sector management; accountability; transparency and information; and legal framework for development. These reports incorporated public sector management into the broader definition of governance, and marked a change in Bank-wide policy towards public sector management.

As part of the Bank-widereorganization that took effect in January 1993, CECPS was terminated, and its staff and functions were transferred to different newly created units. Most private sector development (PSD) oriented staff were transferred to the new Private Sector Department (PSD) located in the new Finance and Private Sector Development Vice Presidency (FPDVP), and other PSD research staff were transferred to the new Finance and Private Sector Development Division (PRDFD) located in the Policy and Research Department (PRD) of the Development Economics Vice Presidency (DEC). Public sector management oriented staff and functions were transferred to the Public Sector Management Unit located in the new Operations Policy Group (OPRPG) of the Operations and Policy Review Department (OPR). OPR was located in the new Human Resources Development and Operations Policy Vice Presidency (HRO), and was created alongside the Population, Health, and Nutrition Department (PHN) and the Education and Social Policy Department (ESP). The responsibilities of Public Sector Management Unit within OPRPG included:

• providing leadership in dealing with pressing issues in the public sector managemnt area, particularly in the field of public expenditure management, budget reform, and civil service reform;

• providing advice, support, and training to operational staff, and through identification and dissemination of best practice; and

• providing leadership in the area of governance in relation to public sector management.

The Public Sector Management Unit in OPRPG was short lived, however, with the reorganization of HRO in July 1995.

On July 1, 1995, HRO became the Human Capital Development and Operations Policy Vice Presidency (HCO). At this time, the Public Sector Management Unit staff and functions were transferred from OPRPG to the new Poverty and Social Policy Department (PSP) of HCO. PSP replaced the former the Education and Social Policy Department (ESP) of HRO. The Public Sector Management Unit was merged into the following PSP group: Labor Markets, Social Protection, and Public Sector Management. This group was established alongside three others, including: Gender Analysis and Policy; Poverty and Social Assistance; and Participation and Non-Governmental Organizations. Alberto de Capitani assumed the role as Manager of the Public Sector Management Unit within the Labor Markets, Social Protection, and Public Sector Management group.

On December 31, 1995, HCO was terminated, and replaced by the Human Capital Development Vice-Presidency (HCD). PSP remained in HCD. Jane Armitage later replaced Alberto de Capitani as Public Sector Management Unit Manager in 1996.

In the fall of 1996, events helped change the course and raise the profile of public sector management and governance activities within the World Bank. The first of these events occurred in October 1996, when President James D. Wolfensohn delivered his "Cancer of Corruption" speech at the World Bank/ IMF Annual Meeting, which outlined corruption as a major impediment to development, and called for greater action by World Bank operations to combat corruption. This speech launched the Corruption Action Plan Working Group to explore ways to improve the strategic framework for anti-corruption measures in World Bank operations. As part of this new push, the public sector reform activities of public sector management and governance units of the Bank received renewed focus and anti-corruption was subsequently linked to public sector management and governance.

Around this same time, President Wolfensohn initiated a Bank-wide reorganization. As part of this reorganization, PSP sectors and functions were mapped into a new network-based structure with a series of temporary relocations. In December 1996, the Human Capital Development Vice-Presidency (HCD) was terminated. In January 1997, the Public Sector Management Unit was transferred to the Development Economics Vice Presidency (DEC) under the oversight of International Economic Department Director (IECDR) Masood Ahmed , along with the Gender Analysis and Policy Group and the Poverty and Social Assistance Group. The Public Sector Management Unit and these two groups were then temporarily organized into the Poverty, Gender, and Public Sector Management Department (PGP). In July 1997, PGP sectors were officially mapped into the Poverty Reduction and Economic Management Network (PREM).

At its establishment, the Poverty Reduction and Economic Management Network (PREM) consisted of four departments: Economic Policy Division (PRMEP); Gender Division(PRMGE); Poverty Division (PRMPO); and Public Sector Management Division (PRMPS). The functions and staff of the former Public Sector Management Unit of PGP were mapped into PRMPS. The responsibilities of the PRMPS included:

• improving the understanding and expertise of Bank staff in the area of public sector reform;

• expanding opportunities and incentives for the development of knowledge and the sharing of insights and experiences both inside and outside the Bank; and

• strengthening the positive impact of Bank interventions on the functioning of public sector institutions in borrowing countries.

The major activities of PRMPS focused on the following areas: public sector strategy; public finance; governance and accountability mechanisms (e.g. anti-corruption, legal and judicial strategy, civil service reform); decentralization; public enterprise reform; and technical assistance. A Public Sector Board (PSB) was also established to coordinate the functions and activities to PRMPS. Cheryl Gray assumed the role of Director and PSB Chair for PRMPS in 1997.

In 2002, Sanjay Pradhan succeeded Cheryl Gray as PRMPS Director and PSB Chair. In 2003, PRMPS was renamed the Public Sector Governance Department, but retained its acronym.

In 2007, the World Bank pursued a governance and anti-corruption (GAC) strategy, which was articulated in the report Strengthening World Bank Group Engagement on Governance and Anticorruption. PRMPS played a key role in developing the new strategy.

In 2009, Deborah Wetzel succeeded Sanjay Prahan as Director and PSB Chair for PRMPS.

The concept for the World Bank Institute (WBI, formerly the Economic Development Institute [EDI]) originated in the early 1950s. Bank staff recognized that the knowledge and practical experience they had accumulated should be shared and that those who would benefit most from it were key people in the governments of developing countries. In 1952, President Black appointed a committee to consider the possibility of creating an Institute of Advanced Studies in Economic Development and to make recommendations on that proposal to the Staff Loan Committee. A Report of Committee to Consider Bank Sponsorship of Institute of Advanced Studies in Economic Development was submitted to the Staff Loan Committee on July 9, 1952. Subsequently, cooperation in the form of operational and financial support from external agencies was sought; a report prepared by Bank staff entitled Preliminary Proposal for an Economic Development Institute (1953) was circulated to various government agencies, educational institutions, and private foundations. As a result, the Rockefeller Foundation and the Ford Foundation became involved in the endeavor, agreeing to provide half of the budget for the first three years of the Institute's operation.

The Economic Development Institute was established by the World Bank in 1955 and officially opened on January 9, 1956, on a two-year trial run basis. A.K. Cairncross, Professor of Applied Economics and Director of the Department of Social and Economic Research at the University of Glasgow, had been invited to develop the Institute in 1954 and was subsequently named the first Director of the EDI.

The Institute's objective was to help promote international development through the training of mid- and high-level officials from developing countries. Training focused on planning and managing national investments more effectively through the mobilization of knowledge and experience accumulated by the World Bank. The Bank conceived of EDI as an instrument to improve developing country governments' capacities to manage and direct the development process. In its operations it aimed to fulfill its objective through three major functions: training; institution building; and publishing.

In May 1957, the Executive Directors voted to establish the Institute as a permanent activity of the Bank. For its first two years, EDI was included as a part of the Technical Assistance and Liaison Staff but with its new permanent status it was to be considered a separate unit comparable to other Bank departments. On January 1, 1962, the Institute started reporting to the Development Services Department (DSD). However, the Institute regained its independent status and officially became a Bank department on July 27, 1964.

During its first seven years, until 1962, the EDI offered a single six-month general course that focused on the formulation and administration of policies, programs, and projects related to economic development. There were fourteen participants in the Institute's first year; in subsequent years the number of participants rose but would be limited to twenty-five. Potential participants were nominated by their respective governments and selection of participants was undertaken by an admissions committee composed of senior Bank officials. Participants who completed the courses given by the EDI received certificates as Fellows of the Institute. The EDI teaching staff consisted of Bank personnel as well as instructors from universities, government agencies, and research centers. Bank staff members were often invited to conduct sessions on subjects on which they had particular knowledge. External guest lecturers were also invited to guest lecture.

In the early 1960s, a movement towards the contextualization of courses and curricula began, as different problems and requirements for the various regions and countries were identified. In 1962, the Institute began offering a more diverse group of special courses. In the summer of 1962 a compressed ten-week general course was offered in French. A specialized course on the preparation and appraisal of development projects was offered for the first time in the spring of 1963; this marked the beginning of a trend towards focusing on the preparation and evaluation of investment projects rather than on development plans and programs. A modified project appraisal course in Spanish was also offered in the fall of 1963. Specialized sectoral courses were added over the following decade: industry projects in 1964; agricultural projects in 1965; education projects and transportation projects in1970; urbanization, advanced agricultural projects, and water supply and waste disposal projects in 1973; development banking, transportation policy planning, and agricultural processing industries in 1974; and Rural Credit in 1976. In 1973, the long General Development course was replaced with a shorter macroeconomic course called National Economic Management that provided reduced coverage of basic economic principles.

In the early 1960s, the Institute also began to organize or cosponsor ad hoc courses given outside of Washington. In 1963, a Development Program Course was organized in Seoul, Korea. In 1965 a Joint Regional Project Evaluation Course was held in Jaipur, India, and the following year a Regional Project Evaluation Course was held in Karachi, Pakistan.

EDI began publishing activities immediately following its creation. William Diamond's Development Banks (1957) and Jan Tinbergen's The Design of Development (1958) were the first two EDI publications. By the early 1970s, however, it became the policy of the Institute that EDI research and publication should be limited to material required for its own teaching. In addition to publishing, EDI began a service in 1960 that provided small libraries comprised of books, articles, and reference materials to countries where materials on economic development were unavailable.

In 1970, the EDI's principal responsibilities were described as:

• To conduct courses on principles and practices of economic development, the formulation of economic and financial policies, and the planning and administration of development programs, with special emphasis on practical problems and the experience of the Bank Group and its member countries; the preparation and evaluation of development projects; and other subjects related to the promotion of economic growth;

• To undertake studies related to its training program and, after approval by the Publications Committee, to prepare for publication those studies of general interest;

• To provide, in appropriate cases, technical assistance to other institutions which have programs for training in the subjects mentioned under (1) above;

• And to undertake other work related to the functions described above or required to perform such functions effectively.

While retaining its departmental status the Institute started reporting to the newly formed International Relations Department on March 1, 1973; the IRD was part of the Director, External Relations (DER). The DER was terminated on July 1, 1974, and replaced by the Vice President, External Relations (VPE). EDI began reporting to the VPE at this point.

The 1970s saw substantial expansion and diversification of project courses in terms of specific sectors covered and, especially, locations around the developing world where the courses were offered. In 1972-73, the Institute began to focus on increasing its ability to sponsor and participate in overseas training in cooperation with other training institutions. A rapid increase in the number of overseas courses took place during the mid- to late-1970s; by 1978, two thirds of EDI courses took place in member countries. Courses continued to be developed, teaching materials and methods tested, and teachers trained in Washington. The Bank's Regional offices, which had been provided with increased size and importance following the Bank's reorganization of 1972, cooperated with EDI with respect to course planning and organization.

The principal responsibilities of the EDI as described in 1975 were similar to those in 1970 (listed above) with the exception of an additional objective: [t]o advise and assist in the development of regional and national training institutions. In addition, EDI mirrored the Bank's concerns regarding increasingly complex economies in developing nations as well as issues of low per capita income, growing external debt and the slowdown of the world economy. The Institute addressed these concerns by placing a stronger emphasis on economic and sector studies, analysis of key policy issues, structural adjustment, and technical assistance.

In 1975, the Institute began publishing a quarterly newsletter entitled EDI Review.

In the early 1980s, the Bank established a Task Force to reassess EDI's purposes, approaches, and activities. One of the results of the Task Force's 1983 report, The Future of the Economic Development Institute, was that, on April 1, 1983, EDI was placed under the supervision of the Vice President, Operations Policy (OPSVP). The intention was to create a closer link between EDI and the Bank's Operations Complex and thus to obtain the staffing and substantive support that was deemed necessary.

The Task Force also created a broader mandate and increased activity for EDI. Four new undertakings were established in the mid-1980s: short policy-related seminars to high-level government officials that would explore issues, alternatives, and likely implementation problems in bringing about policy improvements was offered; technical and pedagogical assistance to other training institutions was increased and coordination with the Bank's Regional offices was extended; publication and distribution of training materials was increased; and the Institute's focus on the participation of sub-Saharan African countries was increased.

The Institute's repertoire of course offerings continued to be diversified throughout the 1980s. By the early 1980s, the number of seminars and courses in which EDI was directly involved rose to about 70. By 1989 over 100 training activities were offered and institutional support to 52 training institutions was planned. By this point, the nature and location of courses had also changed. By 1983, 85-90% of courses and seminars were taught in developing countries. The length of seminars ranged from less than one week to three weeks while courses ranged from four to six weeks.

The changes of 1983-84 resulted in the expansion of the Institute's organizational structure. Beginning in 1972, EDI was organized into a small number of units aligned with the sector courses being offered. After the 1983 reorganization and the increase of EDI's activities, the number of divisions and units began to grow. As the Institute's activities continued to increase in subsequent years, units and divisions changed in title. (Click here for an MS EXCEL chart of WBI/EDI's organizational history. The information for this chart was taken from World Bank organizational history charts created by Archives staff in the mid-2000s and from World Bank directories. The dates, therefore, indicate the month represented by a given chart or when a directory was published; the dates do not mean that changes to the organizational structure of WBI/EDI took place at that point.)

Two scholarships were created through the Institute in the 1980s. The Robert S. McNamara Fellowships Program was established in 1982. The fellowship, funded by the Bank and various governments, provides its recipient with full-time study or research at the postgraduate level in fields related to economic development. In 1987, the Joint Japan/World Bank Graduate Scholarship Program was initiated. The program is funded by the government of Japan and administered by EDI. It awards scholarships to individuals from World Bank member countries to undertake graduate studies at universities throughout member countries.

As part of the Bank-wide reorganization of May 1987, EDI was moved from OPSVP to the new Senior Vice President, Policy, Planning and Research (PPR). There was, however, little change to the internal organization of the Institute. Soon after, in the spring of 1988, EDI was moved into the Development Economics Vice Presidency (DEC).

EDI continued to expand its activities in the 1990s. It opened a number of training centers in Eastern Europe and Asia. A master's degree program in economic development for officials from developing countries was created as part of the new World Bank Graduate Scholarships Program. The Institute also began expanding the type of participants it invited to take part in its programming; these included public sector enterprise managers, bankers, civil society leaders as well as opinion makers such as journalists, teachers, parliamentarians, and youth. In 1998, evaluation units and coordinators for each of the Bank's Regions were established in order to ensure the relevance of the Institute's programs and their quality and impact. The use of technological innovation was expanded in the late 1990s. This allowed distance learning to be developed and resulted in the initiation of the Global Development Learning Network (GDLN) by the World Bank in June 2000. The GDLN brings together more than 100 international learning centers (GDLN Affiliates) that offer the use of advanced information and communication technologies to people working in development around the world.

In 1999, EDI merged with the Bank's Staff Learning and Leadership Center to become the World Bank Institute (WBI). On February 1, 2000, WBI was removed from DEC and became its own Vice-Presidency: the World Bank Institute, Office of the Vice President (WBIVP).

In the years following, a renewed effort to reflect and support Bank operations was made by WBI. Courses, programs and training materials were developed that emphasized the cross sectoral and thematic approaches to development and development projects that were increasingly prevalent in Bank operations. Fifteen well-defined thematic programs were developed by the Institute in conjunction with the Bank's Regions and Networks. Responding to individual country needs also became a point of focus with the transition from individual training to the design and delivery of products and services intended to create long-term institutional capacity development.

In July of 2011, WBI launched the e-Institute, a virtual learning platform that provides access to knowledge and communities of practice to users from around the world. Online classes, podcasts, webinars, toolkits, and other resources are provided through the resource.

Martin M. Rosen was born in 1919 in Cincinnati, Ohio. He graduated from the University of Cincinnati in 1940 and received a master's degree in economics from the University of Minnesota in 1941.

Following service in the U.S. military during World War II, Rosen joined the World Bank (Bank) in 1946. He served as Assistant to the Director of the Economic Staff; Assistant Director of the Department of Operations - Europe, Africa and Australasia; Assistant Director of the Department of Technical Operations;and Director of the Department of Operations - Far East. In 1961, he became the Executive Vice President of the International Finance Corporation (IFC), a position he held until he resigned from the World Bank Group in 1969.

After leaving the Bank Group, Rosen became president of the First Washington Securities Corporation, an investment banking company.

Rosen died in 1984.

Activities related to Bank operations evaluation began prior to the origin of the Operations Evaluation Department (OED), now known as the Independent Evaluation Group (IEG). In the late 1960s, a number of project reviews in the form of formal research and ad hoc analysis were undertaken. Aspects of the Programming and Budgeting Department (P&B) also focused on project evaluation and monitoring. However, with increased Bank lending and the introduction of new program initiatives, particularly in education, population, agriculture, and rural development, the need for an independent evaluation unit became evident and was addressed by the establishment of the Operations Evaluation Unit on September 2, 1970. The Unit, consisting of five individual staff members, was temporarily placed in the Programming and Budgeting Department and was tasked with assessing the usefulness of individual projects and the effects of groups of related projects in individual countries. The Unit was converted into the Operations Evaluation Division the following year.

In order to reduce the risk of actual or perceived conflict of interest for Bank management, it was soon decided that operations evaluation should be removed from P&B and set up as a separate entity under the charge of a vice president who would have no operational responsibilities. Effective July 1, 1973, the Operations Evaluation Division became the Operations Evaluation Department (OED). The Department was placed under the Joint Bank-IFC Audit Committee (JAC), which had been created in 1970 to supervise Bank and International Finance Corporation internal and external audit arrangements. Bank Vice President Mr. Mohamed Shoaib supervised the Department and Christopher R. Willoughby was appointed the first Director of the OED.

In 1973, a related development was initiated by the Bank's Vice President, Projects, which supported the OED's mandate. This related development was the requirement for all operating departments to prepare Project Completion Reports (PCRs), also referred to as Completion Reports, as the final step in the project cycle for lending operations. In these reports, projects were assessed generally in terms of: the extent to which they met their objectives; their economic and social impact; their impact on institution building; their completeness; their compliance with loan covenants and regulated agreements; and the involvement and influence of the Bank. These reports would then be evaluated as part of OED's new responsibilities.

OED was made responsible for conducting an audit of each completed project for submission to the Bank's executive board. Operating units produced PCRs which were forwarded to the new OED for audit. OED audit of the project could then result in changes or additions to the PCR. The OED audit produced the Project Performance Audit Report (PPAR) for submission to the executive board. The PPAR provided an evaluation of the extent to which project objectives stated in the lending documents were achieved and the general effectiveness and efficiency of the lending operation. While initially all projects were to be audited by the OED, the percentage of projects given full audits would decrease over the years.

PCRs, PPARs, and other Bank study reports would also serve as the basis for different types of special evaluation studies generated by the OED, which focused on a variety of broader topics, including countries, sectors, Bank processes and policies, and broad themes as identified by management, operations staff, and OED staff.

Efforts to further institutionalize the Department's independence led to President McNamara's proposal in 1974 of a new organizational position for the Department and a new managerial head: Director-General, Operations Evaluation (DGO), with rank of vice president. In 1975, Mervyn L. Weiner was appointed by the Executive Directors as the OED's first DGO. It was determined at this time that the OED would report directly to the Board with an administrative link to the President. OED's functions at this time included:

• making periodical assessments of the Bank's operations evaluation system;

• carrying out performance audits of completed projects supported by the Bank;

• encouraging member countries to establish their own operations evaluation systems;

• assessing actions taken by the Bank in connection with OED's findings; and

• assisting in the dissemination of evaluation findings within the Bank and the development community.

On September 26, 1975, the first Annual Review of Project Performance Audit Results was released by OED. Including audits for fifty projects, it provided a summary of PPAR results and a relatively brief but comprehensive scorecard of the performance of completed Bank-assisted projects. It also highlighted lessons, ideas, and themes identified over the previous year. The annual review would be renamed a number of times: Annual Review of Project Performance Results in 1985; Annual Review of Evaluation Results in 1989; and Annual Review of Development Effectiveness in 1997.

Another form of evaluation was undertaken by the OED in 1979. The Impact Evaluation Report (IER) was designed as a second look at a project taken about five years after its completion. It assessed the effect of the project, both intentional and unintentional, on people and the environment as well as the sustainability of the implementing organization.

As OED's responsibilities for the creation of evaluation products increased through the 1970s and into the 1980s, corresponding changes in organization and staffing occurred. The number of senior evaluation officers continued to increase. By 1981/1982 each senior evaluator was assigned a specific sector or area of responsibility (public utilities, industry, development finance companies/corporation [DFCs], structural adjustment and program loans, agriculture, education and training, transport and tourism, and policy review). In 1983, three chief evaluation officer positions were created and each was assigned sector-specific divisions. Divisions at this time were simply referredto as Division 1, Division 2, and Division 3. By November 1985, the division's assignments were reflected in division titles: Division 1, Agriculture and Human Resources; Division 2, Industry and Policy Review; and Division 3, Infrastructure and Urban Development. This arrangement remained in place through September 1987.

OED was reduced to two divisions from September 1987 to July 1991: Division 1, Agriculture, Infrastructure and Human Resources, and; Division 2, Policy-Based Lending, Industry, Public Utilities and Urban Sectors. From 1991 to May 1997 OED was again re-organized into three divisions: Agriculture and Human Development (OEDD1), Country Policy, Industry and Finance (OEDD2), and Infrastructure and Energy Division (OEDD3).

In 1994, the Committee on Development Effectiveness (CODE) was created as a standing committee of the Board of Executive Directors and would serve as a replacement for the JAC. The eight-member committee was made responsible for overseeing the operations evaluation systems ofthe Bank (IBRD and IDA) and of the IFC.

That same year, OED began to offer a new product, Country Assistance Reviews (CARs), which provided countrywide impact evaluations that concentrated on the overall impact and development effectiveness of the Bank's whole program of assistance to a country over a number of years. Country assistance evaluations represented a shift in the Bank's and OED's focus. When OED was established, the Bank was essentially dealing with investment lending, and the project was the appropriate evaluation unit to assess Bank performance. By the 1990s, the situation had changed. With the growing recognition of the importance of a country's policy environment, the Bank was giving greater attention to a whole country strategy. Country Assistance Strategies (CASs), which outlined the Bank's program in a country for the next several years, became a central focus of Bank-client dialogue. OED responded to this new country focus by shifting from the project to the country as the basic unit of evaluation.

In 1995, the IFC's Operations Evaluation Unit was reorganized as a department, the Operations Evaluation Group (OEG), to provide for increased attention to the development impact of IFC operations. In addition, OEG began to transmit its report to the Board through the DGO.

The emerging emphasis on country and thematic evaluation and renewed emphasis on evaluation capacity and knowledge dissemination resulted in another organizational restructuring in 1997. In June of that year, the Department was divided into four component parts: Corporate Evaluation and Methods (OEDCM), Country Evaluation and Regional Relations (OEDCR), Sector and Thematic Evaluation (OEDST), and Partnership and Knowledge Program (OEDPK).

In January of 2002, the World Bank Group's Multilateral Investment Guarantee Agency (MIGA) created its own evaluation office. As with the IFC's OEG, it also began transmitting reports to the Board through the OED's DGO.

In December 2005, the OED changed its official name to the Independent Evaluation Group (IEG) to better reflect its three components: the Independent Evaluation Group (Bank) (IEGB), Independent Evaluation Group (IFC) (IEGI), and Independent Evaluation Group (MIGA) (IEGM). In 2008 or later, another reorganization took place. The resultant divisions were: Public Sector Evaluation (IEGPS); Private Sector Evaluation (IEGPE); Country, Corporate Global Evaluation (IEGCC); and Strategy, Learning and Communication (IEGCS).

Gloria Davis was the first anthropologist hired by the World Bank. She specialized in Southeast Asia, receiving her Ph.D. from Stanford University in 1975 with a dissertation on Parigi: A Social History of the Balinese Movement to Central Sulawesi, 1907-1934. She then taught anthropology for three years at Yale University. In 1978 Davis joined the World Bank's Indonesia Transmigration and Land Settlement Program, where she became part of the team assessing the Bank's support for transmigration projects in Indonesia. This led to the publication of the major report, Indonesia Transmigration Program Review, in 1981. In 1984 Davis became the senior operations office in the agriculture division of the East Asia and Pacific Region. She participated in various missions, often to Indonesia but also to Fiji in 1984. During this period she lead the review of the entire Indonesia transmigration sector, culminating in a major report, Indonesia Transmigration Sector Review, in 1986. Following the general reorganization of the World Bank in 1987, Davis became the chief of the Environment Division of the Asia Technical Department. In 1990 she wrote another major study, Indonesia: Sustainable Development of Forests, Land and Water. She became chief of the Social Policy and Resettlement Division in the Environment Department in 1993 and director of the Social Development Department from 1997 until 2000. Davis retired from the Bank in 2000 but continued to serve as a consultant until 2004. Gloria Davis was born in 1943 in Minneapolis, Minnesota. She died in 2005.

This fonds contains the records of temporary bodies comprised of Bank staff from various inter-departmental units that were established to address a Bank-wide issue or an issue directly affecting one or more major units of the Bank.

The Human Resources Development and Operations Policy Vice Presidency (HRO) was one of three Vice Presidencies created during President Lewis Preston's reorganization of January 1, 1993. Following the abolishment of all Senior Vice Presidencies on December 1, 1991, Preston initiated a larger reorganization in 1993 that aligned the Bank's organization with the priority areas of its poverty reduction effort. The result was three new thematic vice presidencies: the HRO; Finance and Private Sector Development (FPD); and Environmentally Sustainable Development (ESD).

The vice presidencies were responsible for:

• Providing operational support to the Regions through participation in Sector Operations Division (SOD) task teams, undertaking specialized assignments for the Regions, providing ad hoc advice, distilling lessons of operational experience and disseminating best practices, and definition of sector and operational policies;

• Assisting in identifying and addressing the Bank's skisurells mix and training needs; * Providing information and intellectual support to interested actors outside the Bank;

• Liaising with the UN and other official and private organizations;

• Delivering complete products to the country directors in the 'clustered subsectors', where the small number of expert staff can most efficiently be located in the central Vice Presidency.

As part of the 1993 reorganization, the former Population and Human Resources Department was terminated and its divisions were split between two newly created departments: the Population, Health and Nutrition Department (PHN) and the Education and Social Policy Department (ESP). Both of these departments were placed in the HRO Vice Presidency along with an Operations Policy Department (OPR). The OPR absorbed the functions of: the former Central Operations Department (COD); the International Economic Relations Division (OPRIE); and the UN Office in New York (OPRNY) transferred from the External Relations Department (EXT).

In January 1994, President Lewis Preston created a secretariat within the HRO (HROAN) responsible for managing a program of the Bank's 50th anniversary activities.

On July 1 1995, HRO became Human Capital Development and Operations Policy (HCO). At this time education, health, nutrition and population functions were again combined in a single department named the Human Development Department (HDD). A Poverty and Social Policy Department (PSP) was also formed and placed in HCO.

Sidney E. Chernick, a Canadian national, was employed by the World Bank from 1969 to 1990. Chernick graduated from the University of Manitoba and gained a Master's Degree from the University of Toronto and a Ph.D. from the Massachusetts Institute of Technology. Prior to joining the Bank, Chernick was employed by the Organisation for Economic Co-operation and Development (OECD) in Paris, the United Nations Economic Commission for Latin America (ECLA) in Santiago, and, for five years, by the United Nations in New York. He also taught Economics at the University of Melbourne.

Chernick began his employment at the World Bank as an economist in the Central America and Caribbean Department (CAC) in 1969. He was promoted to Senior Economist in 1970.

In 1972 he joined the newly created Policy, Planning and Program Review Department; he would remain in the Department until its termination in 1982. (The Department had different acronyms over the years: EPR from 1972 to 1977 and PPR from 1977 to 1982. It was also referred to as PPPRD and PP&PR.) The basic functions of the PPPRD were to identify development policy issues, to prepare or coordinate analysis of alternative program and policies, and to supervise the presentation of policy papers at the appropriate level of management. It provided guidelines for analysis in economic reports and country programs and reviewed country programs before their submission to the President to ensure the quality of economic analysis, consistency with Bank development objectives, and consideration of alternative strategies.

The PPPRD consisted of only two divisions during its existence: the Policy Planning Division (PPRPP) and the Program Review Division (PPRPR). Chernick was named Division Chief of the Program Review Division in or around September of 1973 and reported directly to PPPRD Director, Hahbub ul Haz. (Ul Haz and the PPPRD, in turn, reported to Hollis B. Chenery, Vice President of the Office of the Vice President Development Policy [DPS].) Chernick's division was responsible for:

• Establishing guidelines for the content of Economic Reports and, in cooperation with the Programming and Budgeting Department, of Country Program Papers;

• Managing the review of Economic Reports and Country Program Papers in close collaboration with the Regional Offices and the Programming and Budgeting Department with a view to evaluating alternative policy options for management;

• Evaluating the annual and 5-year country economic work program of the Regional Offices;

• Maintaining communication links between the DPS and the Regional Offices on issues of development strategy and Bank policy at the country or regional levels;

• Analyzing selected economic development issues of Bank-wide relevance and ad hoc questions raised by management; and

• Providing support for selected economic missions.

In the spring of 1976, Chernick was named Senior Advisor in PPPRD and would serve in this capacity until the Bank's and PPPRD's reorganization in 1982. He would also serve as Acting Director at various times during the decade in which he was a PPPRD staff member.

In February of 1982, Chernick was named Assistant Director of the newly-established Country Policy Department (CPD). The CPD replaced the PPPRD and assumed its functions and much of its staff (as well as staff from the former Development Economics Department [DED]). Chernick's main responsibilities in the CPD included:

• Providing advice and support to the regions on designing assistance strategies and preparing CPPs, structural adjustment and other program lending, and carrying out policy dialogue with member countries;

• Serving management through reviews of CPPs and country economic and sector work plans, through advice on lending allocation, and through work on operational policy issues;

• Conducting applied research and preparing papers on such issues as trade strategies, resource mobilization, economic management, employment productivity and welfare;

• Acting as a secretariat for the Operations Policy Sub-Committee of the Managing Committee.

In June 1983, Chernick was named a Senior Advisor of CPD.

In January of 1984, Chernick moved to the South Asia Country Programs Department (ASADR) under the title of Senior Economist. Chernick's activities involved: supporting the design and quality of economic and sector work by undertaking regional, country, and project analyses; and raising the capacity of the practitioners by providing guidance, organizing training courses and regional seminars, and participating actively in recruitment.

On November 1, 1986, Chernick joined the Economic Development Institute (EDI, later the World Bank Institute [WBI]), the Bank's capacity development branch. Chernick was named the Advisor on Senior Policy Seminars in the Institute's Front Office. These seminars, beginning in the mid-1980s, offered short policy-related seminars to high-level government officials that would explore issues, alternatives, and likely implementation problems in bringing about policy improvements. Chernick remained in this position until he retired from the World Bank in 1990.

Hollis Burnley Chenery was born January 6, 1918 in Richmond, Virginia. He received a Ph.D. in economics from Harvard University in 1950.

From 1949 - 1950, he worked at the U. S. Economic Cooperation Administration in Paris, and from 1950 - 1952, he was chief of the Program Division at the U.S. Mutual Security Agency in Rome. He returned to U. S. government service in 1961, serving at the United States Agency for International Development until 1965.

From 1952 to 1961, Hollis Chenery was a professor of economics at Stanford University. From 1965 to 1970 and again in 1983, he was a professor of economics at Harvard University.

Chenery served as The Economic Advisor to the President of the World Bank from September 1970 to September 1972. In October 1972, he became Vice President, Development Policy (VPD) following the Bank's Reorganization in 1972. In May 1982, he became the Vice President of the Economics and Research Staff (VPERS). He resigned from that position in September 1982 and remained on the Bank staff as a Senior Adviser until February 1, 1983.

Hollis Chenery died September 1, 1994.

The Environmentally Sustainable Development Vice Presidency (ESD) was one of three vice presidencies created during Bank President Lewis Preston's reorganization of January 1, 1993. Following the abolishment of all senior vice presidencies on December 1, 1991, Preston initiated a larger reorganization in 1993 that aligned the Bank's organization with the priority areas of its poverty reduction effort. The result was three new thematic vice presidencies: the ESD; Finance and Private Sector Development (FPD); and Human Resources Development and Operations Policy (HRO).

The vice presidencies were responsible for:

• Providing operational support to the Regions through participation in Sector Operations Division (SOD) task teams, undertaking specialized assignments for the Regions, providing ad hoc advice, distilling lessons of operational experience and disseminating best practices, and definition of sector and operational policies;

• Assisting in identifying and addressing the Bank's skills mix and training needs;

• Providing information and intellectual support to interested actors outside the Bank;

• Liaising with the UN and other official and private organizations;

• Delivering complete products to the country directors in the 'clustered' subsectors, where the small number of expert staff can most efficiently be located in the central Vice Presidency.

At the time of its establishment, ESD had the following subordinate departments: the Agriculture and Natural Resources Department (AGR); the Environment Department (ENV); and the Transportation, Water and Urban Development Department (TWU). It was also responsible for the Secretariat of the Consultative Group for International Agricultural Research (CGIAR). Each sector department maintained the following functions:

• prepare policies, guidelines, standards, handbooks and analytical tools relevant to the sector;

• identify, codify and disseminate best practices and lessons of experience, and evaluate weaknesses;

• provide advice to the Regions as needed;

• monitor and track work in the sectors assigned in order to identify generic issues and identify, evaluate and influence trends and patterns;

• perform surveys of experience and practice within the Bank and elsewhere, and develop innovative approaches;

• participate in Bank-wide efforts to assess skill requirements, and to upgrade skills through recruitment, training, orientation, seminars, newsletters, etc.;

• represent the Bank to external communities of interest; and

• maintain an awareness of relevant external practices and viewpoints.

In 1997, the thematic vice presidencies were reorganized to strike a better balance between country focus and sectoral excellence. To facilitate sharing of expertise and knowledge, the Bank established networks that linked Bank-wide communities of staff working in the same field across organizational boundaries and with external partners. Each of the three thematic central vice presidencies was transformed into the central units, or anchors, of each network and consisted of the existing sector departments. The result of the 1997 restructuring was four networks: the Environmentally and Socially Sustainable Development Network (ESSD); the Finance, Private Sector Development, and Infrastructure Network (FPD); the Human Development Network (HDN); and the Poverty Reduction and Economic Management Network (PRM). The former sector departments of ESD were placed in different networks. ENV, AGR (as the Rural Development Department [RDV]), and the CGIAR Secretariat were placed inESSD while TWU was placed in FPD.

The Poverty Reduction and Economic Management Network (PREM) was created in 1997 as part of President Wolfensohn's reorganization of the World Bank. The reorganization's objective was to strike a better balance between "country focus" and "sectoral excellence". It was also motivated by the recognition that the Bank's development programs were excessively driven by a culture of lending. The need to increase attention towards client needs and the quality of results was addressed by the reorganization.

To facilitate sharing of expertise and knowledge, the Bank established networks that linked Bank-wide communities of staff working in the same field across organizational boundaries and with external partners. The networks were intended to link staff working in the same sectors throughout the Bank, whether the staff was located in the Regional Vice Presidencies sectoral departments, Independent Evaluation Group (IEG, formerly the Operations Evaluation Group [OED]), World Bank Institute (WBI), or Development Economics (DEC). The objectives and responsibilities of the networks were many: reduce fragmentation; increase information flow; set priorities; manage quality; run the information system; consolidate external partnerships; vet staff promotions; and disseminate best practices. The work programs of network staff focused on:

*Global knowledge - putting the best development knowledge in the hands of Bank task teams; ensuring that the knowledge base was accessible to external clients; and contributing to the growth of the knowledge base.

*Enhanced skills - developing and providing content to training courses; establishing professional and technical standards for professional development.

*Shared strategies - assisting regional and central units to develop a common sector agenda, and ensuring that skills are effectively deployed across the entire network. Network leadership assumed responsibility for global programs, sector strategy development and evaluation, strategic partnerships, and learning and dissemination.

*Best teams and best practices - improving the Bank's flexibility and mobility by building stronger task teams and delivering higher quality products.

*Institutional initiatives providing substantial support for new Bank-wide initiatives, such as social development, rural development, financial sector, anti-corruption, human resources, and knowledge partnerships.

PREM was one of the first of three networks to be created in 1997; the others were the Human Development Network (HDN) and the Environmentally and Socially Sustainable Network (ESSD). Soon after, in 1997-98, the Private Sector and Infrastructure Network (PSI) was created. In 2000-01, the Operation Policy and Strategy Department became the Operations Policy and Country Services Network (OPCS). In 2003-04, the PSI became the Financial and Private Sector Development Network (FPSD) and in 2007 ESSD was combined with Infrastructure to form the Sustainable Development Network (SDN).

PREM is organized in the same way as the other Bank networks. Eachnetwork is headed by a vice president and head of network. Under the vice president is a network council that oversees the entire network. The council is composed of the top network managers from each Region and is responsible for setting the overall agenda for the network and for promoting effective deployment of skills across network units. It deliberates on issues relevant to the functions and objectives of the network - e.g., strategy; people; knowledge; quality/business process; and external partnerships.

At the time of its creation, the PREM Network absorbed department units, functions, and staff from different areas of the Bank. In December 1996, the Human Capital Development Vice-Presidency (HCD, formerly the Human Resources Development and Operations Policy Vice Presidency [HRO) was terminated, and its subordinate unit Poverty and Social Policy Department (PSP) was temporarily relocated under the oversight of Masood Ahmed. At the time, Ahmed was the International Economic Department Director (IECDR), but was transitioning into the role as PREM Vice President. The PSP temporarily became the Poverty, Gender, and Public Sector Management (PGP) during this time. The various divisions of PGP were then mapped into the newly created PREM network and would be officially moved into PREM when it was launched in July of 1997. IEC was terminated as part of the re-organization of the DEC Vice-Presidency. The IEC staff and functions were either absorbed into existing DEC units, or absorbed into the PREM Network. As a consequence, the former staff of PSP and IEC made up a large portion of PREM in its original form.

PREM contained four sector departments at its creation: Economic Policy Division (PRMEP); Gender Division (PRMGE); Poverty Division (PRMPO); and Public Sector Management Division (PRMPS). Each Sector Department has its own Board, with representatives drawn from the Regions as well as from the network itself. The Sector Boards are accountable to the network council and are supported by a secretariat.

Sectors departments were subsequently closed, absorbed, or renamed as PREM evolved. In 2000, PREM added a sector devoted solely to the joint IMF and World Bank Heavily Indebted Poor Countries (HIPC) Initiative (PRMHP). The Poverty Reduction Strategy Initiative (PRMPR) was also added in 2000. The Gender Division (PRMGE) was renamed the Gender and Development Division in 2000. The Poverty Division (PRMPO) and the Poverty Reduction Strategy Initiative (PRMPR) were both closed in June 2001, and replaced by the Poverty Reduction Group (PRMPR) in July 2001. In 2002, PREM added the International Trade Department (PRMTR). The PRMPS was renamed the Public Sector Governance Department in October 2003, but retained its acronym. PRMHP closed in June 2004 and ongoing HIPC projects fell under the newly formed Debt Department (PRMDE) in July 2004. Around 2005, the Economic Policy and Debt Department (PRMED) was created, and appears to have replaced the PRMDE. As of 2014, the PREM Network lists the following thematic areas of concentration for sector departments: Poverty Reduction and Equity; Economic Policy and Debt; Public Sector Governance; International Trade; and Gender and Development.

Irving S. Friedman was born on in New York City in 1915. After graduating from Columbia University, Friedman began his career as an economist in the office of the Secretary of the Treasury. He joined the International Monetary Fund (IMF) in 1946 where became a senior department director and headed missions to member countries. In 1950 Friedman became director of the Fund's Exchange Restrictions Department.

In October 1964, Friedman joined the World Bank. He was appointed by President George S. Woods as the first Economic Adviser to the President and was placed in the President's immediate staff. Friedman supervised the Economics Department and the Director of Special Economic Studies. He also oversaw the Economic Program Department, the Computing Activities Department, and the Development Research Center. Friedman was succeeded by Hollis B. Chenery as Economic Adviser to the President in October and left the Bank soon after.

After his time at the World Bank, Friedman joined Citibank in Manhattan in 1974 and First Boston Corporation in 1989. In the 1980s he held senior advisory positions with the African, Asian, and Inter-American Development Banks in addition to other public and commercial financial institutions. Throughout the 1970s and 80s, Friedman taught at a variety of academic institutions, including Yale University, the University of Virginia, and Fordham University. He also lectured abroad as well as at the Bank's Economic Development Institute (EDI, now the World Bank Institute [WBI]).

Irving Friedman died in November 1989.