Evaluation and Auditing

The IDB has several mechanisms to ensure proper oversight and accountability of its projects, starting with the preparation and approval stages all the way through implementation and beyond.

Office of Evaluation and Oversight

• Evaluation at the IDB is a shared responsibility between management and the Office of Evaluation and Oversight (OVE).
• Management focuses on project evaluations and monitoring portfolio performance.
• OVE is independent of management and answers to the Board of Executive Directors. Its activities include ensuring that strategies, policies and programs comply with the IDB's objectives and mandates. OVE oversees the Bank’s internal monitoring mechanisms and conducts ex-post project evaluations.

External Audits

• External audits of financial statements are used for project executing entities, and the projects themselves, during the execution period, until all project funds have been disbursed.
• Audits verify that resources were used appropriately and that the project executing agency complied with financial contractual clauses.

Oversight of the Procurement Process

• The Procurement Committee, whose members are six senior bank managers, continually reviews the Bank’s procurement policies and rules and resolves major procurement-related issues arising during project implementation.

Independent Investigation Mechanism

• People whose lives may be adversely impacted by IDB-supported activities may recur to the Independent Investigation Mechanism (IIM). The IIM investigates if the Bank failed to abide by its own procedures for project design, analysis and implementation.
• Requests are considered by IDB’s Board of Executive Directors, which may then instruct a three-member independent panel of IIM experts to investigate the complaint and issue a report with findings and recommendations.

The Office of Institutional Integrity

• The Office of Institutional Integrity (OII), which reports to the President, investigates allegations of fraud and corruption occurring in Bank-financed activitities.
• OII findings and recommendations are reported to the Oversight Committee on Fraud and Corruption (OCFC), made up of senior Bank officers. If country laws have been broken, the OCFC may refer the case to national authorities.

IDB Administrative Tribunal

• The IDB Administrative Tribunal was established to settle the disputes which arise out of the employment relationship of the Bank or the Corporation with their staff members