The determinants of the performance of the World Bank loans: The case of Turkey

In this study, success factors of the World Bank's loan for Turkey are analyzed at the credit level. In the literature, studies which examine comparisons between the countries by using macro variables can overlook an important part of the difference between the loans in the same country. Therefore, examining Turkey, which is an important country in terms of the level of the World Bank loan disbursement, at the credit level constitute the unique part of this study. The completion dates of the programs and projects carried out within the scope of the loans examined vary between 1997-2017. In the analysis, credit ratings of the World Bank's IEG for each loan were used as the dependent variable. The statistical relationships between the independent variables and the credit ratings were analyzed at the credit /program/project level and the logistic regression method was used to examine the power of these variables to predict success. Finally, the results of the analysis were discussed and compared with the findings of the literature, policy recommendations were developed and recommendations were made for future research. Keywords: World Bank, Project Success, Development Aid, Foreign Aid Effectiveness, Program Loans, Project Loans, Performance