ľ¹ÏÓ°Ôº's Global Tax Program is pleased to release its , which provides an update on the progress of the activities undertaken by GTP during the period of July 2023 ¨C June 2024. The GTP is a main vehicle in WB¡¯s support to Domestic Resource Mobilization in developing countries: the GTP is the only Umbrella Trust Fund of the World Bank that is mandated to raise funds for and dedicated to cover tax policy, tax and customs administration. This report documents in detail the satisfactory portfolio and project level performance of GTP.
Since its inception in 2018, the GTP-funded activities amplified their impact by leveraging other Bank instruments such as concessional lending operations and technical assistances projects with a DRM element. GTP funded projects further leveraged their impact as their analytics and policy recommendations informed the design and implementation of 27 DRM-related lending operations, totaling over US$ 7.67 billion (most of which were IDA grants or concessional IDA lending). During the review period, the GTP has been generously supported by nine development partners: Denmark, France, Japan, Luxembourg, Netherlands, Norway, Switzerland, the United Kingdom, and the Bloomberg Philanthropies. At the close of FY24, total contributions to the GTP Umbrella in Phase 1 amounted to $87.4 million. Donor funds committed during phase 1 are fully allocated. The timeline extension of the GTP Multi Donor Trust Fund until end-June 2028 allowed the World Bank management to set strategic fundraising targets and receive generous support for phase 2 of GTP. The total pledges for Phase 2 stand at US$51.1 million.
In this reporting period, the DRM Pillar executed a total of US$ 17.7 million and project teams provided technical assistance to 83 countries. By June 30, 2023, the GTP DRM Pillar portfolio included 67 activities (including closed activities) in 104 countries. Over 87 percent of the GTP DRM portfolio is channeled to support country-level activities, of which 71 percent were directed to countries that are International Development Association (IDA)-eligible and 37 percent to Fragile and Conflict-Affected Situations (FCS).
In this reporting period, the GTP executed a total of US$ 15.5 million and project teams provided technical assistance to 70 countries. By June 30, 2024, the GTP portfolio included 77 activities (including successfully delivered/closed activities) in 110 countries. 88 percent of the GTP portfolio is channeled to support country-level activities, of which close to 70 percent were directed to countries that are International Development Association (IDA)-eligible. 32 percent of the portfolio has been dedicated to supporting Fragile and Conflict-Affected Situations (FCS).
For previous GTP Annual Progress Reports, please visit our website.