IEG's Terms of Reference

Excerpt taken from "DGO Mandate and Terms of Reference for OED, OEG, and OEU Proposed Name Changes" (October 27, 2005):

The Director, Independent Evaluation Group (IEG) is responsible for the operations evaluation function for IFC and assists the Director-General, Evaluation (DGE) in carrying out the DGE’s mandate. IEG’s independent evaluation work encompasses:

• Evaluating operational programs and activities, including investment and technical assistance and advisory operations, and the strategies, policies and procedures that relate to them with particular attention to the achievement of agreed objectives for private sector development and the effects of investment activity.
• Assessing the quality and usefulness of IFC’s evaluation processes and products, and participating in the formulation and continuous improvement of appropriate evaluation policies, practices and instruments.
• Identifying and disseminating lessons and making recommendations drawn from evaluation findings to contribute to improved operational performance, accountability for results, and corporate transparency.

The DGE is responsible for the management of IEG’s personnel, budget, and work program under the oversight of the Board’s Committee on Development Effectiveness (CODE), and in consultation with the Executive Vice President, IFC (EVP). IEG’s functions and staff are organizationally independent from IFC operational and policy departments and decision-making.

The DGE appoints the Director, IEG, in consultation with the EVP and the CODE Chair. The Director, IEG, is appointed for a renewable term of 5 years, can only be removed by the DGE, is not removable without just cause, and is not eligible for employment in IFC on completion of assignment. The DGE is responsible for performance evaluation and salary review for the Director, IEG, with the oversight of the CODE Chair. The Director, IEG, is responsible for the selection, performance evaluation, salary review and promotion of IEG staff, under the oversight of the DGE and in consultation with IFC’s VP, Human Resources. For administrative purposes, the IEG Director reports to the EVP.

IEG’s work programs and budgets are prepared independently from IFC’s budget, under the oversight of the DGE, for endorsement by CODE and approval by the Board. IEG’s reports are the responsibility of the Director, IEG, under the oversight of the DGE, and are transmitted to IFC’s Board of Directors through the DGE, following IFC management review and opportunity to comment.

IEG’s access to IFC staff and records is unrestricted, and IFC managers facilitate visits to project sites and meetings with client, partner and Government representatives. Without compromising IEG’s independence, IEG staff endeavors at all times to maintain close and continuing contact with IFC staff so that their views are adequately considered in IEG reports, and the analyses and findings of these reports are understood. While the Group does not issue instructions and is not involved in implementing operational practices and procedures, its work aims to reach specific conclusions and recommendations that follow from the evaluation findings. The Director, IEG, participates in relevant meetings of the Portfolio Committee. IEG maintains close relations with the Bank’s Evaluation Department and MIGA’s Evaluation Unit. The DGE reports to the Board of Directors of IFC about the quality, usefulness and objectivity of IFC’s evaluation processes and products.