Independent Verification in Results-Based Financing
With pressure for greater accountability and value for money in public budgets, widening the use of results-based financing (RBF) and setting up adequate independent mechanisms to verify results is becoming increasingly important. In January 2012,...
| Main Authors: | , |
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| Format: | Brief |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/05/16742432/independent-verification-results-based-financing http://hdl.handle.net/10986/16175 |
| Summary: | With pressure for greater accountability
and value for money in public budgets, widening the use of
results-based financing (RBF) and setting up adequate
independent mechanisms to verify results is becoming
increasingly important. In January 2012, the World Bank
launched the Program-for-Results (PforR), an innovative
financing instrument that disburses funds upon delivery of
verified results in developing country programs. Until now,
the use of independent verification has been limited to
output-based aid (OBA), which is one of the RBF modalities;
however, there is potential for more widespread use of
independent verification. This note highlights lessons from
projects funded by the Global Partnership on Output-Based
Aid (GPOBA) and the World Bank, and discusses elements that
can best ensure the independence and effectiveness of a
verification system. |
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