The authors are grateful to colleagues in the Independent Evaluation Group for their contributions to this paper. They thank Beata Lenard (former manager, Private Sector, Finance, IFC, and MIGA Evaluation Unit), Sabine Durier (manager, Knowledge and Communications), and Victoria Chang (senior evaluation officer, Private Sector, Finance, IFC, and MIGA Evaluation Unit) for serving as peer reviewers and providing valuable and constructive feedback. They also thank Estelle Raimondo (head of methods, Methods Advisory Function) and Diana-Mariana Stanescu (data scientist, Methods Advisory Function) for extensive feedback throughout the development of the paper, and Jozef Leonardus Vaessen (senior adviser, Office of the Director General, Evaluation) for valuable comments on an earlier version.