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Description area
Dates of existence
History
The Task Force on Cost Sharing and Local Cost Financing was created by Senior Vice President of Operations [OPNSV] Moeen Qureshi in October 1989. The objectives of the task force were to review the Bank's implementation of its cost sharing policy and determine if any changes were needed as a result of the review.
The motivation for the Task Force originated in a June 13, 1989 meeting of the Bank's Board of Directors when questions from the Board were raised concerning the determination of the levels of local cost financing and cost sharing for individual projects within the context of the Bank's local cost financial policy. The policy, OMS 1.22 - Local Cost Financing and Cost Sharing, had been issued in September 1977.
A draft response to the Board's concerns was circulated internally by Bank management in July 1989 and a final response to the Board was distributed on October 2, 1989. The note contained background on past policies related to local cost financing and cost sharing (including OMS 1.22) andinformation about then-current implementation including in those projects discussed by the Board in June 1989.
The Task Force was officially created later in October 1989 to 1) review recent cost sharing experience in light of existing policy procedures (specifically OMS 1.22), and 2) recommend any needed changes in the guidelines resulting from that review. Changes to the OMS would be incorporated into a new Operational Directive 6.30 -- Cost Sharing and Local Cost Financing.
Randolph (Randy) Harris of the Central Operations Department (COD) served as chairman of the task force. (COD reported to OPNSV Moeen Qureshi, who oversaw and managed the Bank's Operations Complex.) The Task Force was made up of representatives from the four regional vice presidencies, Sector Policy & Research Vice Presidency (PREVP), Loan and Trust Funds Department (LOADR), General Counsel Vice Presidency (LEGVP), Strategic Planning & Review Department (SPRDR), Risk Management & Financial Policy Department (FRSDR), and two departments in the Development Economics & Chief Economist Vice Presidency (DECVP; Economic Advisory Staff [EASDR] and the Country Economics Department [CECDR]).
The Task Force's final report was submitted to Qureshi on May 31, 1990.