The Independent Evaluation is based on a Board-approved policy and consists of assessment of operations, programs, activities and strategies through systematic and rigorous analysis of their outputs, outcomes and impact against expected results and the overall mandate of the Bank.
These activities are conducted by the Evaluation Office fulfilling two basic objectives, serving the overall purpose of assessing mandate fulfilment and drawing lessons for improved future operations:
a) Accountability – to reveal the results of the Bank’s operations/activities, both intended and otherwise, and assess their contribution to the Bank’s mandate;
b) Quality Management Improvement – to derive significant lessons learned from past experience in view of using them for improving future operations.
The Bank’s evaluation system has two tiers: (i) self-assessment by the staff directly involved with Operations, resulting in Operation Completion Reports and (ii) independent and rigorous evaluation performed by the Bank’s Evaluation Office, resulting in various Evaluation Reports and Studies, as well as Annual Evaluation Overviews, presented to the Board of Governors, the Board of Directors and published within the Bank’s Annual Reports.