A key element of the World Bank’s support, especially after Mr. Wolfensohn assumed the presidency, is ensuring that the large amount of resources devoted to these 1,500 projects in the portfolio is used as effectively as possible in reaching our shared goals of sustainable eco- nomic development and poverty alleviation. The track record of the recent past in this respect leaves something to be desired. Roughly speaking, at completion, about one-third of the projects the Bank finances do not meas