When IFC interventions involve combined Investment and Advisory Services, project M&E should more explicitly reflect results measurement of both business lines and industries.
IFC Corporate Level M&E 8. Alignment between investment and advisory services results measurement framework.
- ï IFC is increasingly combining Investment and Advisory Services to achieve development goals. Some of the lessons in Investment projects could be relevant to Advisory Services and vice versa. Although there are some common elements in the respective results measurement frameworks, there are also asymmetries.
Agree: IFC is working towards more AS and IS alignment in the following dimensions:
· IDGs - Harmonization of indicators has already taken place for some IDGs: MSMEs access to finance, GHGs, and Infrastructure access. In addition, many joint AS-IS projects have common indicators.
· Harmonization - We have a sequenced plan for indicator harmonization. This starts with recommendations for IS indicator harmonization with other DFIs these recommendations will then feed into a plan to harmonize a subset of IS and AS indicators that would be tested in FY14 and used for joint investment and advisory projects by FY15. This work will also feed into the WBG Change Team working on harmonizing results frameworks across the WBG.
Evaluation - We have increased the number of joint AS-IS evaluations of projects and programs. Recent examples include: Progresemos (completed), China Review (completed), Health in Africa (completed), Performance-based Grant Initiative (ongoing), Sustainable Energy Finance Global Review (planned), and Education for Employment (planned).
Action 8.1: Continue to strengthen joint methodologies for sub-set of indicators used across IS and AS.
Indicator: Number of joint metrics/ methodologies used across IS and AS.
Baseline: Two IDGs went live in FY13 and are used by IS and AS projects (IDG 2âhealth & education services, and IDG 3âfinancial services for MSMEs).
Target: Strengthen joint methodology for farmers reached (IDG1) that includes contributions from investments and four business lines.
Timeline: FY14.
Action 8.2: Continue to undertake joint AS-IS evaluations of projects and programs and related studies.
Indicator: Number of joint AS-IS evaluations and related studies.
Baseline: Approximately 2 joint IS-AS evaluations and related studies launched per year.
Target: A minimum of 5 joint IS-AS evaluations and related studies launched per year.
Timeline: by end of FY15.
There are major progress in advancing joint implementation plan for coordinated WBG interventions, which includes strong attempts to focus on results and results measurement. IFC has been conducting evaluations on IS-AS projects. Based on the progress made, IEG agrees to retire the actions related to this recommendation from tracking.
(1) IFC results measurement staff have supported the development of results frameworks (objectives and targets) for 9 advanced Joint Implementation Plans covering AS, IS and IFC and World Banks interventions. The purpose of the programmatic results framework is to provide overarching common higher level objectives and targets that would cover several underlying projects, across IFC Advisory and Investment products and WB loans and TA, and that are greater than the sum of those individual activities/projects.
(2) All 5 IDGs now are live and have been used by IS and AS projects.
(3) In FY16, we carried out 7 AS-IS joint evaluations, (3 completed, 4 active).
(4) IFC continues aligning and streamlining the standard indicators for Advisory and Investment, especially those in MAS and FIG to ensure greater value added to clients and greater efficiency.
Last year, IFC was missing some IDGs but this year they are reporting full adoption of IDGs and further work on joint evaluations already quantitative targets. Based on the implementation of the action plan, IEG rates âSubstantialâ. It is important to note that just because IS and AS need to track the same indicator in the system, it does not translate into more meaningful AS/IS evaluation. IEG will appreciate managementâs updates on IDGs under the testing stage (such as Agribusiness), as well as evaluative findings from the AS-IS joint evaluations to observe explicit reflection of results measurement from both business lines.
On recommendation 8.I, IFC continues making effort to apply common M&E methodology and indicators. IDGs are a great example showing how we monitor and report together, since we are using the same indicators and definitions. All IDGs were under implementation FY15 across AS and IS operations including A2F and IC projects whose methodology was still under testing in FY14 for IDG 1 (Agribusiness). In FY15, 6 AS-IS joint projects contributed to IDGs. E-learning modules are available for all IDGs in LMS including a Data Reporting module. Many of AS products have now been mapped to IS departments so going forward alignment will be part of normal practice. We are reporting IDG quarterly to management. In addition, during the annual report validation process, the external auditor also reviewed the IDGs methodologies and numbers. Many of AS products have now been mapped to IS departments so going forward and our department is working with the industries in revising indicator frameworks to join the monitoring systems (FY16).
On recommendation 8.2, in FY15, IFC launched 29 evaluations of which 9 were joint AS-IS evaluations and related studies.
Some IS-AS projects and programs are selected for IFC's own project, thematic, or programmatic evaluation activities. Some of them are alredy completed. IEG also notes IFC initiated an integration of IS and AS M&E framework. Nevertheless, actions towards more joint M&E have been limited. IEG rates Medium in the level of adoption.
Note this update is related to the recommendation 8.1. IDG 1 (farmers reached) was implemented in FY14 across AS and IS operations except for A2F and IC projects in which the methodology is under testing. An e-learning module for IDG 1 has been developed and available in LMS. IDG 4 (Infrastructure) and IDG 6 (Climate changes) will go live in FY15. Many of AS products have now been mapped to IS departments so going forward alignment will be part of normal practice.
On 8.2, in FY14, IFC launched 15 joint AS - IS evaluations and related studies, of which 9 joint evaluations are still active and 2 have been completed.