Japan Policy and Human Resources Development Fund Annual Report 2002

By The World Bank

Book Id: WPLBN0000124596
Format Type: PDF eBook
File Size: 1.4 MB
Reproduction Date: 2005

Title:	Japan Policy and Human Resources Development Fund Annual Report 2002
Author:	The World Bank
Volume:
Language:	English
Subject:	Economics, Finance & business, World Bank.
Collections:	Economics Publications Collection
Historic Publication Date:
Publisher:	The World Bank


Citation APA MLA Chicago Bank, T. W. (n.d.). Japan Policy and Human Resources Development Fund Annual Report 2002. Retrieved from http://www.gutenberg.cc/

Description
Economics

Excerpt
The use of grants financed from trust funds in the development process is not new. The PHRD Fund has been supporting grants since 1988 and other grant facilities have been operating for years. Today, grants are being increasingly viewed as effective instruments that can achieve small to medium scale results quickly while building the foundations for the successful implementation of larger development initiatives. Because of their focus on achieving results on a smaller scale, grants can better deliver tangible outcomes in the short-term while broadening the scope of future development operations. As grants can be prepared relatively quickly, they can be more immediately responsive and encourage innovation. And because they are more focused, they are more conducive to creating development partnerships. Grants act as catalysts, working to achieve short-term results on a small to medium scale so that larger scale projects can be effectively implemented and longer-term results realized. The World Bank and the Government of Japan recognized early the catalytic role of grants in the development process. In the last five years, the PHRD Fund has contributed more than $575.7 million to development (Figure 1)...