Partnership between the EU and WBG is underpinned by regular consultations and a strong administrative and fiduciary framework.
Regional consultations. Upstream consultations on programming are held in several regions:
The WBG’s Europe and Central Asia region supports client governments, including EU members and prospective members, in maximizing the gains for their citizens from European integration. Intensive cooperation takes place on a country and thematic basis in client country capitals and in Brussels.
In Africa, high-level meetings take place each year between the European Commission, WBG and African Development Bank. Priority themes are budget support, public financial management, infrastructure and managing for results.
In the Middle East and North Africa, dialogue takes place through the Luxembourg Process, which brings together the EC, EIB, EBRD, WBG and IMF to discuss operational priorities. Meetings during 2012 focused on joint responses to the Arab Spring.
Trust Funds framework. The European Commission uses WB-administered TFs as an important channel for aid, especially for implementing global initiatives and assisting in post-crisis situations. Contributions are governed by the EU-WBG Framework Agreement, which was signed in March 2009 by the EC and WBG Presidents, and updated in 2010 to reflect changes resulting from the Lisbon Treaty.
The Framework Agreement governs all new financing agreements signed after March 20, 2009, and applies for a ten-year period. The Bank and EC meet regularly to discuss TF portfolio issues, the centerpiece of which is the Annual Consultations held in the Spring of each year. This dialogue is conducted on the EC side by DG Development and Cooperation-EuropeAid, and the Framework Agreement applies also to contributions from other Directorates-General (DGs). The agreement establishes a strong fiduciary framework and addresses key issues such as visibility and results measurement.
Geographic and sectoral focus. During fiscal years 2008-12, a total of $2,794m was provided in EC funding. Contributions are focused on global issues (eg. health, food security, debt relief), Africa (35% of contributions) and fragile states (30% of contributions).
Over fiscal years 2008-12, 94% or $1,783M in disbursements from IBRD/IDA trust funds supported by the EC were made through recipient-executed trust funds, of which 53% co-financed WBG projects. The remaining 6%, or $120M, were made through Bank-executed trust funds.
Source: World Bank CFP