1. Tracking development results at the EIB
Natacha Valla, EIB Economics Department, 21June 2017
07/11/2018
Natacha Valla (EIB)

2. The EIB results measurement framework
Outside the EU we use the EIB Result Measurement framework to track results
to enhance accountability and transparency
to promote effectiveness through continuous learning
Impact
Pillar 1 – Contribution to EU policy
Outcome
Pillar 2 – Development outcomes
Output
Pillar 1 – Contribution to EU policy
Consistency with EIB mandate objectives
Contribution to EU and country development priorities (logical results chain)
Pillar 2 – Development outcomes
Results (outputs, outcomes)
Soundness of project or intermediary and operating environment
Environmental and social sustainability
Financial and economic sustainability (ERR)
Pillar 3 – Financial and technical contribution
Financial Contribution (e.g. Extension of tenor, Match with Economical Life, Local currency funding)
Financial Facilitation (e.g. Innovative Financing, Attracting other private sector financiers, Raising standards)
Advice (Financial Advice & Structuring, Technical contribution & advice)
Input
- Market alternative
Pillar 3 – Financial and technical contribution
07/11/2018
Natacha Valla (EIB)

3. The EIB results measurement framework The ReM throughout the project cycle.
Project identification
At the outset, consistency with EIB mandate objectives and clear contribution to EU and country development priorities (needsto be demonstrated (Pillar 1).
2nd ReM review
Project completion +3 years, or end of fund life (for microfinance and equity).
Project appraisal
Clear, sector-specific, standardised and objectively measurable indicators are identified.
Baselines and targets are set to capture expected outputs and outcomes of the project.
Projects are rated according to three “pillars” – policy contribution; quality and soundness; and additionality.
1st ReM review
Project completion or end of allocation/investment period (for intermediated operations).
07/11/2018
Natacha Valla (EIB)

4. The EIB results measurement framework Some achievements of the ReM so far.
Impact on organisational culture:
Organisational focus is shifting from lending volumes (inputs, internal targets) to results, impact and external accountability
Increase transparency and accountability to stakeholders
Enhanced reporting and communication: What did we achieve with our lending and investments?
Improved tracking & ex-post evaluation:
No need to reconstruct intervention logic for ex-post evaluation; clear results targets established ex-ante.
Harmonization:
Collaboration with other IFIs to harmonize qualitative indicators for private sector operations (HIPSO)
Harmonization within EU – EUBEC indicators for Blending Instruments
Going further:
ReM+ for impact financing operations, ReM TA for technical assistance.
07/11/2018
Natacha Valla (EIB)

5. Communicating EIB development results
The EIB outside the EU: annual report on development results
Based on results tracking through the ReM framework
Main focus is still results expected at appraisal, but projects completed under the ReM also covered
Chapters on:
SDGs
Climate action
Migration
Impact financing
EIB contribution
07/11/2018
Natacha Valla (EIB)

6. The EIB Outside the EU – 2016
Some highlights
Expected results from new projects in 2016, outside the EU*
*n.b. illustrating provisional mapping of indicators to SDGs
07/11/2018
Natacha Valla (EIB)

7. Looking forward – areas of work
How can we go further in mapping contributions to the SDGs at different levels?
How can we better track gender impacts?
Can we complement project cycle results tracking with macro-modelling of impact?
What about in-depth impact studies? (EIB-GDN initiative)
07/11/2018
Natacha Valla (EIB)

8. Thank you!
07/11/2018
Natacha Valla (EIB)

9. How can we better assess contribution to SDGs?
The current state of play: At the moment we highlight connections where there seems to be a clear logical link and contribution – But difficult to link project indicators quantitatively with national benchmarks.
How can we better track our contribution at the impact level (SDG 1 - poverty reduction, SDG 10 - inequality)?
How to factor in the role of due diligence/environmental and social standards?
How to asses IFIs’ contribution to resource mobilisation and partnership (SDG 1.a, SDG 17)?
07/11/2018
Natacha Valla (EIB)

10. ReM+ for impact financing
Used for high risk-high impact operations under the EUR 800m Impact Financing Envelope, part of the ACP Investment Facility
Goes further and deeper to track who are direct and indirect beneficiaries, and how they benefit
ReM+
ReM
EIB
Promoter
Direct beneficiaries
Indirect beneficiaries (if applicable)
Who are they?
# of BoP
# of women
# of youth
# of rural population
# of vulnerable groups
How do they benefit?
e.g.
- improved test scores
- improved health outcomes
07/11/2018
Natacha Valla (EIB)

11. The EIB-GDN Programme in Applied Development Finance
The EIB and GDN are collaborating to implement a research programme, training and supporting young researchers from the ACP region to deliver carry out impact studies of selected EIB projects.
Objectives:
Enhance understanding of results and impact of IFE investment operations
Increase evidence-based learning: creating an electronic learning platform of impact evaluation and assessment methodologies
Foster transparency and accountability towards our shareholders/stakeholders
Promote local knowledge in the ACP region: a multi-stakeholder partnership that will build local capacity
07/11/2018
Natacha Valla (EIB)

12. The EIB-GDN Partnership
Programme cycle= 12 months
Select
Train
Support
Review
Recruitment Process
Training at EIB HQ
Analysis and Field Research
Deliverables
10 young national/regional researchers via an open recruitment process
Top academic mentors instruct on monitoring and evaluation tools and methodologies
EIB staff will present on relevant aspects of EIB operations and processes
Each researcher will be assigned an IFE project
Researchers will perform studies including collection of primary data in the field
Supported and supervised by GDN and mentors
10 studies (ex-post evaluations, baseline studies and in-depth monitoring reports)
07/11/2018
Natacha Valla (EIB)