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Independent practitioner analysis on accountability in development finance. Grounded in evaluation data. Written for the people who use the institutions — and the people who should be holding them to account.

⛵ Kofi & the Six Ships — MDB Results Through a Child’s Eyes Day 0 to Day 7

Day 0The Boy Who Thought the Bank Was a Cruise Ship

Day 1The Cruise Ship — World Bank

NoteWho Is Minding the Ship? The Board That Approves Everything

Day 2The Two Battleships — IMF (Five Parts)

2.1The Ship That Does Not Keep Score

NoteIMF Ratings & Transparency

2.2Nigeria $3.4bn RFI — The Evaluation That Could Not Name It

NoteRushing to Disburse: Africa, IMF & COVID

2.3The Cold War Across 19th Street

NoteParallel Bureaucracies, Wasted Billions

2.4AFRITAC: The Homework It Does Do

NoteIsomorphic Mimicry and AFRITAC

2.5Europe’s Chair

NoteEurope’s Chair — Analytical Note

Day 3The Palace Casino — IFC

NoteIFC Fragile States: 11% Satisfactory and Additionality

Day 4The Dhow — African Development Bank

NoteAfDB: The 94% Problem

Day 5The Atakebune — Asian Development Bank

NoteADB: Best Architecture, 12-Point Gap

Day 6The Carnival Ship — Inter-American Development Bank

NoteIDB: 81% vs 53% — The Rating Divergence

Day 7The Full Picture — Six Ships. One Ocean.

🇳🇬 Kofi in Nigeria — Benin City, Edo State, Niger Delta 10 sessions · 6 live, 4 coming

Day 1Kofi and His Mother Land in Benin City

NoteRethinking the IDA Private Sector Window

Day 2The Palace of the Oba

Day 3Kofi & SEEFOR — State Employment and Expenditure for Results

Day 4Kofi & Kobo — How Do You Monitor 4,200 Sub-Projects?

Day 5Kofi & The Contractor

Day 6Kofi & The Photographer — The Kidnapping

▶ PodListen: Scratch, Toju & Parminder (Spotify)

PDFThe Judge’s Story — November 2019

Day 7What Happens When Something Goes Wrong — INT, Fiduciary, Accountability

Day 8Where Did the Other $78.4 Million Go? — Trust Funds and EU Accountability

Day 9Who Is Auditing the Auditors? — PEFA, Country Systems, SAI Capacity

Day 10The Last Morning in Benin City

⚡ Nigeria Power Sector 3 pieces

OverviewNigeria Power Sector — Series Overview

PPPsHow Not to Do PPPs: The Nigeria Power Privatisation

⚠ FCV Strategy — The Delivery Record in Fragile States 6 papers + full submission

OverviewFCV Strategy Series — Landing Page

Paper 1The Strategy Is Right. The Delivery Platform Is Broken.

Paper 2$117.0 Billion Below Standard: The IDA Delivery Record

Paper 3Four Root Causes: Why the Bank Keeps Underperforming

Paper 4IFC in Fragile States: 11 Percent Satisfactory

Paper 5IDA21: What It Gets Right and What It Doesn’t Fix

Paper 6Eight Recommendations in Priority Order

FullDownload Full 130-Page Submission (PDF)

🎬 Spring Meetings 2026 — Seven Sector Records, Zero Accountability & Open Letters 20 pieces · April 2026

NewZero Accountability — Eleven Findings from the Spring Meetings

NewThe Transport Record — The Foundation That Does Not Hold. 4% S+ by Commitment. 96% Below.

PDFDownload Transport Paper (PDF)

NewThe Energy Record — Mission 300. Mission Impossible. 15% S+ by Commitment. 85% Below.

PDFDownload Energy Paper (PDF)

NewThe Water Record — Water Forward. Delivery Backward. 25% S+ by Commitment. 75% Below.

PDFDownload Water Paper (PDF)

NewThe Health Record — Health Works Without Accountability. 29% S+ by Commitment. 71% Below.

PDFDownload Health Paper (PDF)

NewThe Education Record — Human Capital Without Human Results. 31% S+ by Commitment. 69% Below.

PDFDownload Education Paper (PDF)

NewThe FCI Record — The Jobs Machine That Does Not Create Jobs. 36% S+ by Commitment. 64% Below.

PDFDownload FCI Paper (PDF)

NewThe Agriculture Record — Scale Without Transformation. 38% S+ by Commitment. 62% Below.

PDFDownload Agriculture Paper (PDF)

NewThe Knowledge Bank — $1bn in ASA. No Evaluative Framework.

PDFDownload Knowledge Paper (PDF)

NewIDA at 65: $117 Billion Below Satisfactory. The Case for a Challenge Fund.

PDFDownload IDA Paper (PDF)

NewThe Spring Meetings: Bollywood and Hollywood

Day 1Open Letter to the IMF

Day 2Open Letter on the IEO

Day 3Open Letter to IFC, MIGA, IBRD — Blended Finance

Day 4Open Letter to the World Bank President — Where Are the Jobs?

Day 5Open Letter to the Boards of the WB and IMF

Day 6Open Letter to the Governors

🛡 MIGA — The Guarantor That Cannot Verify Its Own Results 2 notes · May 2026

NewThe MIGA Record — The Guarantor That Cannot Verify. Eight Issues for the Board.

PDFDownload Institutional Note (PDF)

NewMIGA in Africa — 459 Projects. $36 Billion. 20% of Exposure. Africa’s Share Halved.

PDFDownload Africa Note (PDF)

⚖ IDA Reform, Sector Records, DPF, Governance & PFM 21 papers

IDAIDA at 65: The Delivery Record and the Challenge Fund

TransportThe Transport Record — Africa

EnergyThe Energy Record — Africa

WaterThe Water Record — Africa

HealthThe Health Record — Africa

EduThe Education Record — Africa

FCIThe FCI Record — Africa

AgriThe Agriculture Record — Africa

ASAThe Knowledge Bank — ASA

DPFPolicy Without Performance: Isomorphic Mimicry and the DPO Incentive Trap

AnnexPaper Triggers by Global Practice — Companion Annex

BoardWho Is Minding the Ship? The Board That Approves Everything

PSWRethinking the IDA Private Sector Window

PforRDesigned to Fail: The SOML PforR (Nigeria)

GameWhy the System Does Not Learn: A Game Theory Analysis

PEFAPEFA & Sub-Saharan Africa

PEFAPEFA at the Crossroads: The Cost of Losing the Thread

TanzaniaThe Richmond Reckoning

📊 Data — Open Datasets Downloadable

IEGIEG Master Database March 2026 — 10,542 deduplicated rated projects

IEGIEG Full Database 1973–2026 — 12,434 projects

DPADDPAD Prior Actions Database — 11,628 actions

PEFAPEFA SSA Dataset — 46 countries

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World Bank Reform IDA Performance Accountability Governance Project Ratings MDB Lending Fragile States Private Sector IEG Evaluations PEFA IMF Governance PFM Nigeria Spring Meetings 2026