This annual report, which covers theperiod from July 1, 1999 to June 30, 2000, spells out theguiding principles of the Bank's work: countryownership, long-term integrated approach, partnership, andresults focus. This vision was put into practice under apilot approach, the Comprehensive Development Framework. Thefollowing are some of the highlights of Fiscal Year 2000: a)The share of projects at risk of not achieving theirdevelopment objectives fell to an estimated 15 percent ofthe total in fiscal 2000, or roughly half the rate of fiscal1998. b) New lending commitments declined to $15.3 billion.c) Seven countries qualified for debt relief under theenhanced initiative for Heavily Indebted Poor Countries, sixof them in Africa. d) The Bank and the InternationalMonetary Fund began to help countries prepare PovertyReduction Strategies, which are becoming the basis for debtrelief and concessional lending by the Bank, the Fund, andother development partners. e) The Bank announced up to $1billion support to help borrowers of the InternationalDevelopment Association to combat HIV/AIDS, and to addresspriority social problems with cross-border or globaldimensions - with a special focus on Africa, and activepartnership in the Global Alliance for Vaccines and Immunization.
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