This Operational Policy statement was updated in March 2007 to reflect issuance of OP/BP 8.00, Rapid Response to Crises and Emergencies, dated March 2007. Also revised in August 2005 to limit its application to investment lending. Implementation completion reporting requirements for development policy lending are set out in OP/BP 8.60, Development Policy Lending.
Note: OP and BP 13.55 replace the OP and BP 13.55 dated April 1994, and apply to all investment loans that have a closing date after June 30, 1999. Questions may be addressed to email@example.com.
1. The Bank1 evaluates completed lending operations, and it encourages cofinanciers and other partners to participate in the process. The General Conditions provide that the borrower also evaluates completed lending operations and reports its findings to the Bank.2
2. The Bank prepares an Implementation Completion Report (ICR) for each lending operation it finances. The ICR, an integral part of the Bank's knowledge management systems, is a milestone in the project cycle. It is prepared at the time of project completion and marks the transition from implementation to project operation. It assesses (a) the degree to which the project achieved its development objective and outputs as set out in the project documents; (b) other significant outcomes and impacts; (c) prospects for the project's sustainability; and (d) Bank and borrower performance, including compliance with relevant Bank safeguard and business policies. It also provides the data and analysis to substantiate these assessments, and it identifies the lessons learned from implementation.
3. The borrower prepares and provides to the Bank its own evaluation report on the project's execution and initial operation, its cost and the benefits to be derived from it, the Bank's and borrower's performance of their obligations under the Loan Agreement, and the extent to which the purposes of the loan were achieved. The borrower's summary of this report (or the full report, if it is 10 pages or less) is attached unedited to the ICR. The borrower also assists the Bank in the preparation of the ICR.
4. An ICR is not prepared for a loan that fails to become effective or is canceled before significant implementation is initiated. Instead, a Project Completion Note to the Board summarizes the project and explains why it was not implemented.
- "Bank" includes IBRD and IDA; "loans" includes IDA credits and IDA grants; "borrowers" includes guarantors and public or private subborrowers; and "project" refers to activities supported by investment loans processed under OP/BP 10.00 or emergency operations processed under OP/BP 8.00. This OP does not apply to programs supported by development policy loans, for which implementation completion reporting requirements are set out in OP/BP 8.60.
- See Section 9.07 (c), General Conditions Applicable to Loan and Guarantee Agreements, and Section 9.06 (c), General Conditions Applicable to Development Credit Agreements.