IDB Group Project Performance: The 2023 Validation Cycle

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Nov 2023
This report summarizes the 2023 results of the Office of Evaluation and Oversight's (OVE's) annual review of project performance at the Inter-American Development Bank (IDB) Group. Every year, IDB Group Management prepares self-evaluations on the final results of its operations. These are called Project Completion Reports (PCRs) at the IDB and Expanded Supervision Reports (XSRs) at IDB Invest. PCRs and XSRs are then validated by OVE to ensure that they are substantiated by evidence and are prepared in accordance with their respective guidelines. Self-evaluations are intended to serve as accountability and learning tools.

The IDB Group's project evaluation methodology is objectives-based. Project performance is rated based on four core criteria: (i) relevance of the project's goals and design, (ii) effectiveness or the degree to which the project achieved the specific objectives for which it was approved, (iii) efficiency with which the objectives were achieved, and (iv) sustainability of the results achieved. Each project then receives an overall outcome rating, calculated as a weighted average of the core criteria ratings, where effectiveness has the highest weight. In addition, two noncore criteria are rated for IDB operations (Bank performance and borrower performance), while three are rated for IDB Invest operations (additionality, investment profitability, and work quality). OVE also rates the quality of the self-evaluation reports by Management. The overall outcome is rated on a six-point scale, while core criteria, noncore criteria, and PCR and XSR quality are rated on a four-point scale. For simplicity, this report groups ratings into “positive” and “negative,” where positive corresponds to the top half ratings in the scale, and negative to the bottom half.