[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-112824-en":3,"doc-seo-112824-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},112824,962075114765,"Quinn","https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd",8,"Research & Report","Bhutan - Country Partnership Framework Completion and Learning Review (CLR) - IEG Review","This CLR review by the Independent Evaluation Group (IEG) assesses World Bank Group support to the Kingdom of Bhutan across the Country Partnership Strategy period FY15–19, updated through the Performance and Learning Review. It summarizes macroeconomic and development context, including hydropower-driven growth, poverty reduction, and key challenges such as rapid urbanization, low agricultural productivity, limited infrastructure, difficult terrain, and climate and disaster vulnerability. It evaluates development outcome and WBG performance, noting moderate satisfactory outcomes overall and rating concerns tied to indicator design, program selectivity, and uneven progress across focus areas.","Public Disclosure Authorized Public Disclosure Authorized  \nFor Official Use Only  \nCLR Review  \nIndependent Evaluation Group  \n\n| 1. CPS Data |  |  |  |\n| --- | --- | --- | --- |\n| Country: Kingdom of Bhutan |  |  |  |\n| CPS Year: FY 15 |  | CAS/CPS Period: FY 15 – FY 19 |  |\n| CLR Period: FY 15 – FY 19 |  | Date of this review: January 4, 2021 |  |\n| 2. Ratings |  |  |  |\n|  |  |  |  |\n|  | CLR Rating |  | IEG Rating |\n| Development Outcome: | Moderately Satisfactory |  | Moderately Satisfactory |\n| WBG Performance: | Good |  | Fair |\n|  |  |  |  |\n| 3. Executive Summary |  |  |  |\n|  |  |  |  |\n| i. This review of the World Bank Group (WBG) Completion and Learning Review (CLR) covers the period of the Country Partnership Strategy (CPS) FY15-19, as updated in the Performance and Learning Review (PLR) dated May 8, 2017.\u003Cbr>ii. Bhutan is a small, land-locked, lower middle-income country. Between 2015 and 2019 the annual real GDP growth has varied between 6.2 percent and 3.7 percent. The country’s economic growth was bolstered in recent years by investments in hydropower. Gross National Income (GNI) per capita is now only ten percent below the threshold for upper middle-income countries. Between 2007 and 2017 the poverty headcount ratio (measured at the US$3.20 poverty line in 2011 purchasing power parity terms) dropped from 36 to 12 percent of the population.\u003Cbr>iii. The CPS noted that Bhutan needed to sustain macroeconomic stability while creating a business environment to promote private sector growth and job creation. The hydro-led growth had created some short-term macroeconomic imbalances, which called for careful management of fiscal and monetary policies. At the same time, it was critical to provide a better investment climate that would be more conducive to private sector development, diversification of the economy and job creation. Also, Bhutan’s large stock of natural capital called for increasing its sustainable contribution to the economy, while protecting the environment and human well-being. Related challenges included rapid urbanization, low agriculture productivity, limited infrastructure, difficult topography, and vulnerability to disaster and climate change. The 2020 Systematic Country Diagnostic (SCD) confirmed these development challenges.\u003Cbr>iv. The CPS focus areas were: (i) improving fiscal and spending efficiency, (ii) increasing private sector growth and competitiveness, and (iii) supporting green development. These areas and their associated objectives were aligned with the government’s five-year plans (the CPS period overlapped with the 11th and 12th five-year plans) and the country’s development challenges. The program envisaged a lending program with a combination of development policy financing ( DPFs) and investment project financing ( IPFs) , and at the PLR stage included the PforR instrument. In contrast, actual lending was all in the form of DPFs. The CPS divided the analyticsand advisory services (ASAs) work into supporting the CPS results areas and building the knowledge base to strengthen policies and institutions. In practice, these broad criteria led to a large ASA program with a lack of clear focus. |  |  |  |\n\nv. During the CPS period, the Bank approved four DPFs in two series for a total of US$104 million, significantly below the eight operations proposed in the CPS and PLR (including one operation proposed twice) , as the possible Program for Results ( PforR) and IPF operations were all dropped. The overall loan amounts were significantly below the IDA17 and IDA18 allocations for Bhutan. The CLR notes limited demand for Bank lending, a strong government preference for DPFs, and a reluctance to borrow for technical assistance. The Bank’s program was supported by a large number of trust funds , totaling US$41 .5 million over the CPS period, all of which were recipient-executed.  \nvi. During the CPS period, IFC made two investment commitments for a total net amount of US$6.5 million, one ","cbCaih2w4jXWcIOG","https://ap.wps.com/l/cbCaih2w4jXWcIOG","pdf",1459259,1,34,"English","en",105,"# Executive Summary\n## Review Scope and Context (FY15–19)\n## CPS Focus Areas and Program Design\n## Lending, Trust Funds, and IFC Support\n## IEG Ratings: Development Outcome and WBG Performance\n## Focus Area Results and Indicator Issues","[{\"question\":\"What period does the Bhutan CLR cover and how is it updated?\",\"answer\":\"The review covers FY15–19 under the Country Partnership Strategy, updated in the Performance and Learning Review dated May 8, 2017.\"},{\"question\":\"Which CPS focus areas and objectives guided the program?\",\"answer\":\"The CPS focus areas were fiscal and spending efficiency, private sector growth and competitiveness, and supporting green development, aligned with Bhutan’s 11th and 12th five-year plans.\"},{\"question\":\"How does IEG rate Bhutan’s development outcome and what explains the ratings?\",\"answer\":\"IEG rates the overall development outcome as Moderately Satisfactory, reflecting that some objectives were achieved while others were partially achieved due to inadequate indicators linked to the stated objectives.\"}]",1784497411,86,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":27},"bhutan-country-partnership-framework-completion-and-learning-review-clr-ieg-review","",{"@graph":35,"@context":85},[36,53,68],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/bhutan-country-partnership-framework-completion-and-learning-review-clr-ieg-review/112824/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-20","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What period does the Bhutan CLR cover and how is it updated?","Question",{"text":75,"@type":76},"The review covers FY15–19 under the Country Partnership Strategy, updated in the Performance and Learning Review dated May 8, 2017.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"Which CPS focus areas and objectives guided the program?",{"text":80,"@type":76},"The CPS focus areas were fiscal and spending efficiency, private sector growth and competitiveness, and supporting green development, aligned with Bhutan’s 11th and 12th five-year plans.",{"name":82,"@type":73,"acceptedAnswer":83},"How does IEG rate Bhutan’s development outcome and what explains the ratings?",{"text":84,"@type":76},"IEG rates the overall development outcome as Moderately Satisfactory, reflecting that some objectives were achieved while others were partially achieved due to inadequate indicators linked to the stated objectives.","https://schema.org",{"og:url":51,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,115,120,123,128,131,135],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":45,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":45,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":111,"doc_module":4,"doc_module_name":45,"category_name":112,"show_sort_weight":113,"slug":114},6,"Technology",50,"technology",{"id":116,"doc_module":4,"doc_module_name":45,"category_name":117,"show_sort_weight":118,"slug":119},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":121,"slug":122},30,"research-report",{"id":124,"doc_module":4,"doc_module_name":45,"category_name":125,"show_sort_weight":126,"slug":127},9,"Religion & Spirituality",20,"religion-spirituality",{"id":126,"doc_module":4,"doc_module_name":45,"category_name":129,"show_sort_weight":126,"slug":130},"World Cup","world-cup",{"id":132,"doc_module":4,"doc_module_name":45,"category_name":133,"show_sort_weight":132,"slug":134},10,"Lifestyle","lifestyle",{"id":136,"doc_module":4,"doc_module_name":45,"category_name":137,"show_sort_weight":106,"slug":138},19,"General","general"]