The Independent Evaluation Group (IEG) is charged with evaluating the activities of IBRD and IDA (the World Bank), the work of IFC in private sector development, and MIGA's guarantee projects and services. The Director-General of IEG reports directly to the World Bank Group's Board of Directors. The goals of evaluation are to provide an objective assessment of the results of the Bank Group’s work and to identify and disseminate lessons learned from experience.
The purpose of IEG’s evaluation system has remained unchanged for more than 40 years: to assess the performance of Bank Group policies, programs, projects, and processes (accountability) and to learn what works in what context (lessons). As the scope of Bank Group operations and its portfolio of products have grown, IEG has continued to develop and adapt its approach to evaluating development effectiveness.
Independent Evaluation of IFC IEG independently evaluates IFC’s operations, including its investment activities and technical assistance and advisory services (TAAS) with particular attention to accountability – IFC’s achievement of its objectives for private sector development and learning – identification and dissemination of lessons and findings that can be operationalized by IFC staff and others involved or interested in sustainable private sector development. IEG work closely on evaluations of WBG activities.