The Committee on Development Effectiveness met to discuss the Independent Evaluation Group (IEG) report entitled Early-Stage Evaluation of International Finance Corporation Platforms Approach: Addressing Development Challenges at Scale and the draft management response. 

The committee welcomed the early-stage evaluation of the International Finance Corporation (IFC) Platforms Approach, which was requested by the Board of Executive Directors in 2022. Members acknowledged that the evaluation did not focus on the relevance or effectiveness of individual IFC platforms or whether these have been achieving their intended outcomes, but rather aimed to assess whether the pilot approach has met Board and client expectations and to identify lessons learned that could be integrated into future processes. IEG reminded the committee that the report had recently been finalized in the context of the Global Challenge Programs, and IEG presented its preliminary findings to the committee and management on an exceptional basis in July 2024. The committee appreciated that the study covered not only the seven platforms introduced between FY17 and FY22 but, based on the Board’s request for IEG to expand the scope of the evaluation, included also projects approved in FY23 under these platforms. 

Members noted their agreement with the early-stage findings that platforms generally achieved their objectives of scaling up the COVID-19 crisis response, reaching smaller and new clients, engaging in new sectors, and expanding IFC’s reach in International Development Association and countries classified as fragile and conflict-affected situtations. They appreciated learning that (i) operational efficiency, (ii) risk pooling and mitigation of risk using blended finance, and (iii) focus on specific development challenges were features that contributed to their success. The committee expressed its support for IEG recommendations, which suggested that IFC extend the approach embodied in its pilot to new platforms and for IFC and the Board to reach and implement an agreement on the level, content, format, and frequency of reporting to facilitate oversight of and learning from platforms. Members emphasized the importance of improving reporting and establishing a robust results framework for IFC platforms. Some suggested that a joint working group be set up to address these topics and ensure that the reporting and results frameworks for platforms meet the needs of the Board. IFC management was generally open to continuing the engagement with the Board in this respect. 

The committee welcomed IFC management’s agreement with IEG recommendations and was pleased to learn that IFC has begun implementing the recommendations and intends to update its Pilot Approach taking into consideration key lessons learned. Members asked IEG to consider a full-fledged evaluation that examines development results when project completion data is available, including on individual platform projects, to get a better understanding of lessons learned and the outcomes and development impacts achieved through the use of IFC Platform Approach. IEG explained that such an evaluation would need to be considered from an evaluability perspective and the topic discussed as part of the fiscal years 2027–29 work program consultations, which are envisioned to start in September 2025. IEG indicated that such an evaluation could be carried out no earlier than fiscal year 2028 were it included in the work program, and suggested another option is to cover the work of individual platforms in relevant sectoral and thematic evaluations.