Abstract
This paper discusses whether the World Bank's (Bank's) policy has been successful in promoting economic efficiency in the power sector. The conclusion is that the Bank's presence has improved the situation, as four countries receiving a disproportionate share of Bank assistance have witnessed a more positive development since the late 1980s than developing countries as a whole. Loans provided through periods of non-compliance may have eased the urgency of reform. In a longer perspective, the financing of such over-investment may have been justified on grounds of maintaining the Bank's presence in these countries and laying the foundation for the more recent sector reforms. Co-ordination with broader sector reforms is also found to yield positive results.
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