The crisis of 2008-09 led to a reduction of growth worldwide, and an increase in millions of poor. The World Bank Group responded with an unprecedented expansion of support that included the majority of countries suffering high levels of stress.
The impact of growth on poverty reduction depends on the pace and pattern of growth. Attention to the type of growth that IFC supports is critical for the institution's effectiveness in poverty reduction.
Improving World Bank Group Development Results Through Excellence in Evaluation
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.
IEG's evaluation system is designed to accommodate a wide variety of investment operations and technical assistance and advisory services operations. As part of its work, IEG continuously assesses and improves the quality of IFC’s evaluation policies, practices, and instruments to ensure that they remain relevant to evolving corporate and stakeholder success standards and learning needs.