The Master Investment Agreement (MIA, 12 June 2006) of the EFP states that: "The parties will regularly evaluate the activities and business of EFP Agreement to assess whether or not it operates according to expectations. Following such evaluation, new financial commitments from the Parties could be obtained in time to ensure the smooth continuity of EFP, if it has proven to achieve its objectives."
Accordingly, the EFP and the Operations Evaluation of the EIB (EV) agreed that EV would carry out an evaluation of the operation of the EFP. The aim of the evaluation is to assess the level of success of the EFP and to draw lessons for the future. It therefore aims at providing information on which to base future decisions relating to, inter alia, the continuation of the EFP, the replenishment of the funds, or possible improvements of the EFP. For the EIB, the evaluation will also contribute to inform the Investment Facility Committee on the use of funds, following EIB's accountability and lesson-learning procedures.