Country Program Evaluation: El Salvador (2004-2008)
This Evaluation (RE-360) covers the period from 2004 to 2008. El Salvador in 2004 presented an unusual challenge for the Bank in developing a strategy for future engagement. To develop a program appropriate in this context, the Bank undertook a significant diagnostic effort in partnership with a local research institute. The Bank¿s proposed program contained a relatively high percentage of fastdisbursing policy-based lending and a relatively low percentage of direct lending to the private sector without sovereign guarantee. In light of past experience, the evaluation makes five specific recommendations for the next country program. This report is organized as follows: 1) Country context and development challenges; 2) Programming, 3) Delivery of the program; 4) Development effectiveness; 5) Conclusions and recommendations.