Operations evaluation – thorough assessments to improve EIB performance
In line with good governance, the EIB Group (European Investment Bank and European Investment Fund) strives towards constant improvement in all aspects of performance, and our Operations Evaluation (EV) forms an important part of this.
EV carries out independent ex post evaluations of EIB and EIF activities with two aims:
- Accountability: to assess whether our activities have been in line with our policy mandates and the strategies that have derived from them, and if these activities have delivered as expected.
- Lessons learned: identifying possible areas of improvement that can be applied to Group activities to increase performance in the future.
What does evaluation bring to the EIB?
- Assess the relevance and performance of the EIB’s activity - while taking into account its business model
- Identify factors that enable and thwart project implementation and achievement of policy objective
- Highlight lessons learned
- Provide inputs for strategic orientations
EV work is carried out mainly at a thematic level. This can be by sector, mandate or financial product. Geographical scope is usually by region or sub-region, meaning that reports will deal with the EU or the Mediterranean (FEMIP) as whole, rather than individual nations. Temporal scope is typically 10 years, but this could be revised.The evaluation criteria for the EIB follow internationally accepted standards. In accordance with the criteria defined by the OECD Evaluation Network and adopted by the Evaluation Cooperation Group (ECG), we look at Relevance, Effectiveness, Efficiency and Sustainability. More specifically to EIB and EIF operations, EV examines the management of the project cycle. Further information on how we carry out evaluations is available here.
Recent Evaluation Reports
Evaluation of the European Fund for Strategic Investments
The evaluation draws on a wide range of sources and methods: macroeconomic and portfolio analysis, in-depth case studies, reviews of relevant documentation, interviews with internal and external stakeholders, comparative analysis of risk profiles for EFSI and non-EFSI EIB operations, and surveys of EFSI final beneficiaries.
Evaluation of EIB Intermediated Lending through the Investment Facility in ACP
This evaluation assesses the extent to which EIB intermediated lending through the IF has contributed to improving access to finance for small and medium-sized enterprises and small initiatives and strengthening local financial sectors in ACP countries.
Evaluation of the functioning of the European Fund for Strategic Investments
This evaluation assesses the functioning of the European Fund for Strategic Investments (EFSI), implemented by the EIB Group. EFSI is one of the three pillars of the Investment Plan for Europe (IPE), which aims to reduce investment gaps in the EU. This evaluation, taking place at EFSI’s mid-term, is a requirement of the EFSI Regulation.
Operations Evaluation Activity report 2014-2015 and Work programme 2016-2018
The current Activity Report is the first to be published for the evaluation function at the EIB. The report informs of EV’s activities in 2014 and 2015, including the various evaluations and studies carried out and the celebration of its 20 years of existence.