Given the significant financing gap to meet the needs of developing countries and achieve the United Nations’ Sustainable Development Goals, governments, multilaterals and other development partners are increasingly looking to the private sector to help fill this gap.
Results-based financing is a well-established financing modality in the health and education sectors but it is still in an early stage of deployment in the area of climate change.
Some 768 million people worldwide don’t have access to safe, healthy water sources, and 2.4 billion people live without access to safe sanitation, such as an on-site toilet or connection to a sewerage network -- around 900 million must defecate in the open.
“Evidence shows that results-based financing has a significant impact – saving lives and expanding access to quality, essential health services for the poorest women and children in developing countries”. Jim Yong Kim, World Bank Group President
GPOBA was initially founded to implement output-based aid, targeting low-income households and communities. While OBA has proven to be a successful type of development financing over its 15 years of operation, GPOBA has discovered that more complex and changing environments require more flexible financing solutions to meet impact objectives.
The report covers highlights of this fiscal year of 2018 (July 1, 2017 to June 30, 2018), in which GPOBA commemorates its 15th anniversary, along with a review of the progress towards achieving the partnership's goals of designing and implementing OBA pilot projects, building a Center of Expertise, piloting other results-based approaches, and communicating with the development community.
The World Bank Group—along with international and local nongovernmental organizations (NGOs)—is a longtime partner of the Bangladesh government in improving access to sanitation. Strong progress has been achieved, and the Bank Group continues to support the government’s initiatives, particularly by mobilizing the country’s well-developed microfinance sector.