Our peers - development banks
Already in 1996, the multilateral development banks joined forces to improve and standardize the development impact measurements of their private sector operations. They founded the Evaluation Cooperation Group (ECG) of Multilateral Development Banks (MDBs), which agreed on the first Good Practice Standards (GPS) for evaluation of private sector operations in 2001, and updates in 2004 and 2006.
Two studies commissioned by this group in 2002 and 2005 compared the degree to which members of the group adhere to these standards. IFC’s system shows a high level of alignment, in part because IFC’s evaluation system served as a model. A new study expected to be completed in 2009 will update the extent to which the group members adhere to the GPS.
Benchmarking exercises by the Evaluation Corporation Group
Recent findings
As IFC is continuously upgrading its measurement systems, we wanted to learn from different approaches currently in practice and commissioned an expert consultant to compare the different systems of ten international financial institutions, including bilateral development institutions that are not part of the Evaluation Cooperation Group. The 2007 study found that IFC continues to be at the forefront of development results measurement, for example through tracking the development results of its entire portfolio throughout the project cycle, publishing the results in the Annual Report, and using an external assurance provider to review the systems, practices, and development results data.
Expert Comparison Study: Report
Joint Reporting on Managing for Development – COMPAS
The Common Performance Assessment System (COMPAS) report, an annual publication, was first launched in 2005 by the MDB working group on Managing for Development Results (MfDR) with the purpose of providing a platform for the member MDBs to jointly report on their performance. For the first time in 2007, the COMPAS featured the MDBs’ private sector operations.
The private sector section of the report focuses on efforts made by MDBs to better manage for development results in private sector operations and to harmonize systems and frameworks for monitoring and evaluating private sector operations. Indicators draw on the GPS for evaluating private sector investments, but also capture other indicators related to managing for development results throughout the project cycle - from early review through closure.
As the responsibility for coordinating COMPAS reporting rotates through the participating MDBs, the World Bank Group led the preparation of the 2008 report, and IFC coordinated inputs relating to private sector operations. The 2008 report shows that MDBs have made progress in strengthening their focus on results and harmonizing evaluation standards and practices in line with published GPS.
Building on results from prior COMPAS reports, the 2008 COMPAS allows for the first time to analyze trends through time within each MDB. The report also expands and deepens the section on MDBs’ private sector operations, adds new indicators, and enhanced the definitions of existing indicators to improve the quality and comparability of information captured in the report.
Furthermore, the COMPAS private sector indicators present a platform for MDBs to report on their efforts to improve the business environment, development results, and institutional learning. While the COMPAS as it exists today is not meant to provide comparisons amongst the MDBs, this ongoing collaboration for knowledge sharing will facilitate greater harmonization amongst the MDBs. More work is planned, to add new indicators (e.g. on advisory services), refine existing indicators and ensure common interpretation by all MDBs.
Access the 2008 COMPAS Report.
Working with bilateral International Financial Institutions
IFC is also working with bilateral international financial institutions (IFIs) towards greater harmonization and information sharing on development results measurement. IFC and the German DEG co-hosted a meeting of CEOs of IFIs in September 2008, following which a working group led by the Dutch FMO was formed. The group is working towards greater harmonization of development results measurement among IFIs.
Links to other Selected Multilateral Development Banks
Links to Selected Bilateral Development Banks
African Development Bank –
