European Bank for Reconstruction & Development
Since our establishment in 1991 we have become the largest financial investor in our region of operations which stretches from central Europe and the Western Balkans to central Asia. With the ability and willingness to bear risk on behalf of our clients, we help their countries in the region to become open, market economies. We are owned by 64 countries, the European Union and the European Investment Bank.
Evaluation at the EBRD
As a public sector institution, the EBRD is expected to demonstrate accomplishments relative to its mandate to stakeholders, including shareholders and the general public. The Evaluation Department was formed in 1992 to evaluate the performance of the Bank’s completed projects and programmes through systematic analysis of results both of individual projects and wider themes defined by the Bank’s policies. By assessing outputs and outcomes against anticipated results, EvD is able to draw evidence-based conclusions about the Bank’s performance relative to its intended qualitative and quantitative objectives.
The core objective of evaluation in the Bank is to contribute to superior institutional performance. It does this through two key channels: by providing a critical instrument of accountability in the form of an objective assessment of performance and results relative to targets; and, by presenting operationally useful findings that contribute to institutional adaptation and learning with respect to future operations. EvD ensures that evaluation is embedded in the Bank by ensuring that staff reflect on their operations through self-assessment and actively contribute to the body of institutional knowledge for future operations. EvD’s independent analysis contributes to the Bank’s legitimacy, relevance, and performance.
The independence of EvD is secured through its positioning in the organisation. Separate from Banking, EvD reports directly to the Board of Directors with day-to-day oversight by the Audit Committee.