Mid-Term Evaluation of African Development Bank’s Policy on Results-Based Financing

Independent Development Evaluation (IDEV) at the African Development Bank (AfDB or "the Bank") is conducting a Mid-Term Evaluation of the Bank’s policy on Results-Based Financing (RBF). The evaluation will cover eight operations financed through RBF, from December 2017 to December 2022, worth about USD 1.2 billion. These operations were in three countries - Egypt, Morocco, and Rwanda. 

Introduced in 2017 on a pilot basis, RBF was the third financing instrument of the Bank, joining Investment Loans and Program-Based Operations. RBF finances expenditures of African government programs with an emphasis on program systems, institutional capacity, and the delivery of results. It links the disbursement of funding to the results achieved.

This mid-term evaluation seeks to assess the relevance, coherence, efficiency, and development effectiveness of the policy at the end of the pilot period, as called for in the RBF Policy. The evaluation will draw lessons and propose recommendations to inform the revision, implementation, and practice of the policy over the coming years.
The evaluation will develop a theory of change behind RBF to serve as the analytical framework. It will combine desk-based reviews and field-based studies to generate evidence. The evaluation is expected to be delivered by the second quarter of 2023. 

Evaluation Task Manager: Girma Earo Kumbi, Chief Evaluation Officer