April, 2024
The Independent Evaluation department (IEvD) at the European Bank for Reconstruction and Development (EBRD) reports directly to the Board of Directors and is independent from the Bank’s management. This independence ensures that IEvD can perform two critical functions: enhance the Bank’s accountability through a rigorous independent assessment of its operations, policies and strategies; and promote institutional learning through effective evaluation knowledge management and learning loops. Whilst IEvD considers management’s views in preparing its evaluations, it makes the final decisions about the content of its reports.
This report was prepared by IEvD independently and is circulated under the authority of the Chief Evaluator, Véronique Salze-lozac’h. The views expressed herein do not necessarily reflect those of EBRD management or its Board of Directors.