xxxiv
IEG Findings and Conclusions
IEG Recommendations
Acceptance by Management
Management Response
Biennial Report on Operations Evaluation
At the World Bank Group level: IFC participates in the formulation of formal Bank Group-wide strategies at all levels, including the results measurement frameworks for such strategies. We believe that this is an effective and efficient way of tracking IFC’s formal geographic or thematic strategies. MIGA 10. Remaining gaps in MIGA’s self-evaluation. MIGA has mainstreamed self-evaluation of its guarantees and has strengthened some aspects of its project monitoring. However, the coverage of MIGA projects through self-evaluation can be strengthened to enhance the ability to assess MIGA’s overall development performance. As a development institution, MIGA should be able to know the development effectiveness of its portfolio.
Streamline the project-evaluation approach and process to align more closely with MIGA’s business model and conditions on data gathering.
Agree
MIGA shares the conviction that self-evaluations should be simplified and better adapted to MIGA’s business model and has worked closely with IEG to identify a way to do so. Creating an evaluation approach that is appropriate to MIGA’s involvement in its projects makes eminent sense. There is a MIGA-IEG working group in place that is endeavoring to simplify procedures along these lines. The work is ongoing.
Reduce the cost burden on project evaluation, possibly by strengthening periodic collection of project data in line with industry practices.
In terms of reducing costs, unit costs per evaluation have come down in recent years, primarily as efficiencies have increased with experience. The major changes in the cost structure, however, will be achieved with meaningful streamlining.
Increase coverage of evaluated projects in order to enhance the ability to derive meaningful results at the corporate level.
With respect to assessing corporate-level results, MIGA’s Development Effectiveness Indicator System is now in its third year and will play the important role of collecting ex post impact data on all MIGA’s outstanding guarantees, thereby allowing for a portfolio level assessment of results.