The Poverty Reduction Strategy Initiative: An Independent Evaluation of the World Bank’s Support through 2003

Although, in 2004 it is still too early to expect to evaluate PRSPs’ impact on poverty, the review did assess progress under the new initiative and how effectively the World Bank has supported it. The initiative has two key features: five underlying principles (box 1) and several process requirements that require preparation of PRSPs and their endorsement by the boards of the Bretton Woods institutions for countries to gain access to resources.1