Private firms are at the forefront of the development process providing more than 90percent of jobs, supplying goods and services, and representing a significant sourceof tax revenues. Their ability to grow, create jobs, and reduce poverty dependscritically on a well-functioning investment climate defined as the policy, legal andinstitutional arrangements underpinning the functioning of markets and the level oftransaction costs and risks associated with starting, operating and closing a business.The World Bank Group has been providing extensive support to investment climatereforms—having supported over the period FY07–13, 819 projects with investmentclimate interventions in 119 countries for a total estimated value of $3.7 billion. Thisevaluation is designed to assess the relevance, effectiveness, and social value as itrelates to concerns for inclusion and shared prosperity of World Bank Groupsupport to investment climate reforms.