term. We combine newly geocoded data on World Bank aid project allocation at the subnational level over the period 2008 …--2019 with exceptionally rich survey data from a sample of almost one million individuals across the entire developing world and … show that in the short term (after the announcement of a World Bank project and within two years after project disbursement …

impacts on growth through key intermediate outcomes. A coherent picture emerges: aid stimulates growth and reduces poverty …