OVE Annual Report 2015: Technical Note: Design and Use of Policy-Based Loans at the IDB

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Feb 2016
This technical note was prepared by IDB's Office of Evaluation and Oversight (OVE) as an input for OVE's 2015 Annual Report. The paper takes an integral look at IDB policy-based lending, a key instrument that has featured in individual OVE evaluations, including Country Program Evaluations and comparative project evaluations. Several previous Bank and OVE studies have reviewed this instrument, but no comprehensive analysis on its design and use has been undertaken. By providing such an analysis, this paper sheds light on the instrument's strengths and weaknesses, and provides an input for the forthcoming broad review of Bank instruments to be conducted by the Office of Strategic Planning and Development Effectiveness (SPD).