This is OVE's second Annual Report. As in last year’s report, the first part provides a brief overview of the evaluation work OVE undertook in 2015. The second part addresses a special topic of current relevance in IDB—this year, policy-based lending. Policy-based loans are a key component of IDB’s toolkit to assist LAC countries.
Each year the Office of Evaluation and Oversight (OVE) undertakes a series of major evaluations, grouped into four broad categories: project evaluations, sector and thematic evaluations, country program evaluations, and corporate evaluations. The first part of the Annual Report provides a brief overview of the evaluation work OVE undertook in 2015.
This year Part II explores the design and use of an important IDB lending instrument, policy-based lending (PBL). OVE has never before taken an in-depth look at the design and use of PBLs across IDB borrowers. Given that IDB Management is planning a comprehensive review of IDB’s lending instruments in 2016, this is an opportune moment for OVE to review how the instrument is used in practice and how it has evolved over time.