Independent Evaluation of IFC's
Development Results : Knowledge for Private Sector Development

Independent Evaluation of IFC's Development Results : Knowledge for Private Sector Development

Independent evaluation of International Finance Corporations (IFC's) development results 2009 takes stock of the development performance of IFC's investment operations, and examines, for the first time, the development effectiveness of it...

Full description

Bibliographic Details
Main Author:	Independent Evaluation Group
Format:	Publication
Language:	English
Published:	Washington, DC: World Bank 2012
Subjects:	ACCESS TO FINANCE ACCOUNTABILITY ACQUISITION COST ADB ADVISORY SERVICES BOARDS OF DIRECTORS BORROWER BOUNDARIES BUSINESS ACTIVITIES BUSINESS DEVELOPMENT BUSINESS ENABLING BUSINESS ENABLING ENVIRONMENT CAPITAL FLOWS CAPITAL INVESTMENT CAPITAL INVESTMENTS CLIMATE CHANGE COLLABORATION COMMERCIAL BANKS CONFLICT CONFLICTS CORPORATE FINANCE CRISES CROWDING OUT DEREGULATION DEVELOPED COUNTRIES DEVELOPMENT BANK DONOR FUNDING ECONOMIC ACTIVITIES ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC GROWTH EIB EMERGING MARKETS ENTREPRENEURSHIP ENVIRONMENTAL EQUITY INVESTMENT FINANCES FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL RISK FINANCIAL SERVICES FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN SERVICE FRONTIER FUNDING SOURCES GRAVE GUARANTEE AGENCY IBRD IFC IMF INCOME INFORMATION TECHNOLOGY INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL RELATIONS INVESTMENT BANK KNOWLEDGE MANAGEMENT KNOWLEDGE WORK LOAN LOAN OFFICER MARKET VALUE MDB MEETING MICROFINANCE MICROFINANCE INSTITUTION MULTILATERAL DEVELOPMENT BANKS NEW BUSINESS NEW COMPANIES NEW MARKETS OIL OUTSOURCING PEER REVIEW POLICY MAKERS PRIVATE ENTERPRISE PRIVATE EQUITY PRIVATE INVESTMENT PRIVATE SECTOR BANK PRODUCTIVITY PROFITABILITY PROJECT APPRAISAL PROJECT DESIGN PROJECT EVALUATION PROJECT IMPLEMENTATION PUBLIC GOODS REAL SECTOR RECONSTRUCTION RISK MANAGEMENT RISK MITIGATION SUBSIDIARY SUBVENTIONS SUSTAINABLE DEVELOPMENT TECHNICAL ASSISTANCE
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20090916012124 http://hdl.handle.net/10986/2674

Description
Summary:	Independent evaluation of International Finance Corporations (IFC's) development results 2009 takes stock of the development performance of IFC's investment operations, and examines, for the first time, the development effectiveness of its Advisory Services (AS), thus offering the first holistic review of IFC's development results. On Investment Services (IS), the report finds that 72 percent of operations reaching early operating maturity between 2006 and 2008 met or exceeded their financial, economic, environmental, and social benchmarks, and made contributions to private sector development beyond just the project. This is a significant improvement over the 63 percent achieved between 2005 and 2007. Meanwhile, 70 percent of AS operations reviewed between 2006 and 2008 achieved high development effectiveness ratings. But these development results do not yet reflect the sharp deterioration in global economic conditions, which has just now begun to affect the economic environment in most developing countries. Experience suggests there are considerable risks to development results but crises can also offer new opportunities that need to be grasped. Projects approved in the years prior to a crisis were about 15 percent less likely to achieve good results than otherwise. In the wake of past crises, investing was likely to lead to better results. But measures to protect the portfolio have tended to crowd out the proactive pursuit of new opportunities to broaden impact. This will need to change in IFC's response to the current crisis, so that the tension between protecting the portfolio and responding to opportunities can be effectively managed.