The EIB has piloted a programme of micro impact studies of private sector impact investments, partnering with the Global Development Network. The studies deepen our understanding of the impacts of these projects, going beyond the detailed results measurement framework the European Investment Bank uses for every project, by collecting data directly from the people who benefit on the ground. This requires local resources, so the programme mobilises talented researchers from developing countries to carry out impact studies of impact investment projects in Africa, the Caribbean and the Pacific.
This publication presents five studies completed in the second cycle of this programme. They shows how academically rigorous research can help to drive development impact. The researchers used a variety of econometric techniques, tailored to a diverse set of investments and to the developing country context. In some case the researchers, drawing on the technical advice of the experts, used experimental or quasi-experimental techniques to identify a causal relationship between EIB investment and impacts on the ground.