Economics & Development

This Annual Report, covering the period of January to December 2025, summarizes the main activities supported and results achieved by the Seoul Center for Finance and Innovation (SCFI). This includes results from the SCFI knowledge operations as well as the grant projects financed through the Seoul Center for Finance and Innovation (SCFI) Trust Fund.

Ratings of the Emergency Multi-Sector Rohingya Crisis Response Project for Bangladesh were as follows: outcome was satisfactory, Bank performance was satisfactory, quality of monitoring and evaluation was substantial. Implementing infrastructure in constrained social, organizational, and physical settings requires adaptive design and fosters useful innovation; projects should enable flexible, context-responsive solutions such as upgrading sanitation standards, adopting solar-integrated water systems and tariff-based management, and deploying information and communication technology tools for real-time, geo-referenced monitoring, supported by technical partnerships with research institutions. Institutional coordination must be streamlined to an adequate level; excessive layers slow approvals and delivery, while strong field-level coordination accelerates implementation, so future operations should prioritize practical, on-the-ground collaboration and provide early capacity building for implementing agencies on humanitarian coordination, camp-specific construction constraints, and multi-stakeholder engagement. Incorporating livelihood support into implementation, including hiring displaced populations for construction and maintenance, simultaneously advances service delivery, builds skills and income, and strengthens social acceptance. Government oversight and independent monitoring and evaluation should be reinforced by establishing shared evidence platforms with clear data-sharing protocols and independent verification to reduce reliance on partner documentation and improve accountability and learning. Safeguard compliance in complex humanitarian contexts depends on strong task team leadership, adaptive and problem-solving approaches, and intensive capacity building; systematic tracking of actions, regular consultations, accessible grievance mechanisms, targeted communication in local languages, and mandatory worker training help maintain compliance and trust. Close coordination with humanitarian actors and government counterparts is essential to align siting and service delivery, avoid duplication, and manage risks in congested camps and hazard-prone areas.