FIAS performance is measured on a scorecard attached to the FY17-21 FIAS Strategy. Results are mainly reported in relation to investmen climate reforms supported at the national level and knowledge management products. Impact is reported in relation to direct compliance cost savings for firms and investments generated from facilitation of foreign direct investments.
In terms of investment climate reforms, in total during the Strategy period FIAS has supported 133 reforms (31 under FY19), of which 60 % were achieved in IDA counties, 35 % were achieved in fragile, conflict and violence affected (FCV) states and 71 % were achieved in Sub-Saharan Africa. In relation to the overall targets the reform count is just below half, which is a little slow in order to reach the target (see more below), but the share of work in IDA, FCV and SSA is in accordance to reach set targets.
Country level examples include Togo, were FIAS assisted the government to ease the process of starting a business by reducing the minimum capital requirement, introducing an online platform for company name search, reducing registration fees, and allowing entrepreneurs to pay the fees directly at the one-stop shop. [NAT/INST]
In Ethiopia as well as in Rwanda, FIAS is supporting the respective governments to expand and retain foreign direct investments by assisting in the design and implementation of a Systemic Investor Response Mechanism (SIRM) that aims to better detect, manage and track investor grievances. The SIRM unit is intended to reinforce ability to identify as early as possible critical grievances that arise between already established investors and public agencies before they escalate in to full-fledged disputes or lead to withdrawal, cancellation of investment. It also offers the opportunity to measure investment and jobs impact in connection with high-risk grievances successfully resolved. [NAT/INST]
In Afghanistan, the FIAS-supported Business Licensing Project was launched in 2015 and completed successfully in FY19. It demonstrated a flexible approach in order to reduced time and cost of business licensing and renewals. Policy discussions between the IFC team and the Afghan government led to the merger of the Afghanistan Investment Support Agency (AISA) and the Ministry of Commerce and Industries (MoCI), which eliminated many overlapping license requirements and also led to a broadening of the project’s scope in line with new government priorities. [NAT/INST]
In Albania, FIAS contributions to building Albanian Investment Development Agency’s (AIDA) capacity to perform investment protection and aftercare services were critical for facilitating repeat investments. Through AIDA’s help to investors to solve construction, taxation, and customs clearance issues, firms have invested an additional $10 million, creating 2,000 new jobs, including for 1,580 women.
The team working with Equitable Growth, Finance and Institutions (EFI) prepare and disseminate knowledge management products on a wide range of topics related to the business environment, markets, and competitiveness. This includes publications, conferences, seminars, and knowledge-sharing events on topics related to the FIAS strategic pillars, and open data/data science.
Example of publications during 2019 are “Women at Work: How Can Investment Incentives Be Used to Enhance Economic Opportunities for Women?” which identifies and analyses investment incentives that governments can provide to businesses with the aim of promoting gender equality, and “Regulatory Tools, Effective Markets and Private Sector Participation in the Forestry and Wood Products Processing Sectors: Issues and Solutions for Developing Countries”, a report which presents framework for strengthening the effectiveness and efficiency of regulation of forestry and related sectors in developing countries. These products is aimed to contribute to global knowledge and feed into broader dialogue and processes. [GLOB/NORM]
The Open Data platforms supported by FIAS, featuring the most relevant indicators and datasets in the dynamic space incorporating trade, competitiveness, investment, innovation, and governance, have continued providing users with updated data, reports, and visualizations from more than 70 different sources and more than 6,000 indicators. Nearly 115,000 users visited the platforms from May 2018 to September 2019. [GLOB/NORM]
On a general level, the recent FIAS Mid Term Review (MTR) states that client facing (CF) projects are generally well aligned with country needs and priorities, as spelled out in national strategies. Project designs are usually well attuned to local conditions. CF-projects have delivered a substantial amount of assistance and performance in terms of output delivery is largely very positive with most operations performing on or above targets. KM-projects also produced a significant amount of outputs. KM-products have, according to the MTR, played a crucial role in setting the stage for a range of new operational invest climate projects, especially at the regional level and so far benefitted nearly 300 World Bank Group operational projects under the FIAS strategy period.
