Programme for results – A study on world bank's new financing instrument Prof. Dr. Baral S.K.*, Prof. Dr. Moharana Samson** *Director, Kushagra Institute of Information & Management Science (KIIMS), Cuttack-753011, Odisha, India **Sr.Professor in Finance, PG Department of Commerce, Utkal University, Vanivihar, Bhubaneswar, Odisha, India Online published on 7 August, 2012. Abstract The World Bank has recently adopted a new financing instrument known as ‘Programme for Results’ (P for R). As the name suggests, the Bank can be now provide finance not only to a specific investment project but to any blurry programme for the purpose of achieving results could potentially include in country programme. A 5% capital from Bank's overall lending port folio will be used for P for R in its two-to-three year pilot. World Bank Management is proposing a new lending instrument P for R to respond to rapidly changing development needs and urgent demand from borrowing countries. A new focus on achieving results was launched a decade ago when the international community adopted the Millennium Development Goals as targets to advance development and reduce poverty. Since then, all of us in the development community—countries, financing institutions, taxpayers, civil society and others—have been wrestling with issues such as how to define development results, how to achieve them, how to create incentives for results and how to measure the. All these issues have been analyzed carefully in this paper with the help of secondary source. Top Keywords World Bank, Programme for Results (P for R), Development Programmes, Development Results, New Financial Instrument. Top |