ABOUT IEO

The Independent Evaluation Office (IEO) of the New Development Bank conducts evaluations to improve the NDB’s development effectiveness and to further the achievement of the Bank’s mandate. Independent evaluation plays a central role to drive quality and development impact of the Bank.

The IEO is responsible for independently evaluating the Bank’s policies, strategies, processes, initiatives and operations. The IEO will also contribute and provide oversight to improve the effectiveness of the Bank’s quality assurance and self-evaluation activities.

The IEO is independent of the Management of the NDB and reports directly and exclusively to the Board of Directors.

OUR AIM

The evaluation function is intended to play a central role in improving NDB strategies, policies, instruments, processes and operations, with the aim of identifying lessons and providing recommendations for improving the efficiency and effectiveness of the Bank.

The IEO’s aim is also to inform the Board of Directors and Management of the results achieved by the Bank in order to enhance the accountability of the organization and ultimately to strengthen and drive the quality of the Bank’s interventions in delivering results in its member countries.

To support NDB in achieving greater development effectiveness, the evaluation function has two core objectives:

  • Promote accountability by providing an evidence-based assessment of results achieved through NDB’s financial and other support to member countries; and
  • Contribute to enhanced learning and feedback to improve the quality of current and future policies, strategies, programs, projects, instruments, underlying processes, organization, resources, and capacities required to achieve these results.

These objectives will also serve to promote a development results, learning and evaluation culture across the Bank to encourage a continuous improvement in the quality of NDB activities.

COMMITMENT TO TRANSPARENCY AND ACCOUNTABILITY

The Director General of the IEO has the authority to issue and submit final evaluation reports and related products to the Board of Directors and subsequently publish them, without prior clearance from anyone outside the IEO.

The Director General of IEO shall be responsible for the preparation of the IEO annual work programme. The work proramme will take into account institutional priorities of the NDB and its member countries and be prepared through a consultative process engaging with key stakeholders, in particular with the Board officials and NDB Management. The IEO's work programme and budget will be approved by the Board and made available public.

EVALUATION ADVISORY COMMITTEE

In December 2022, the NDB Board of Directors (BOD) approved the establishment of the High-Level Evaluation Advisory Committee (EAC) to provide periodic strategic advice to the Director General of IEO on evaluation strategy, priorities, methodology and related topics. Members of the EAC will be appointed by the BOD in 2023 and the first meeting of the Committee will be held in the second part of the year.

Terms of Reference

Ashwani K. Muthoo, Indian national, assumed his position as the first Director General of the Independent Evaluation Office of the NDB on 18 April 2022, reporting directly and exclusively to the Bank’s Board of Directors. Before his current role, Mr. Muthoo was the Director of the Quality Assurance Group in the Office of the President and Vice President at the International Fund for Agricultural Development (IFAD).

Prior to that, he was the Director of the Global Engagement and Multilateral Relations Division and Director of the Global Engagement, Knowledge and Strategy Division in IFAD. He also served as Deputy Director in the Independent Office of Evaluation (IOE) of IFAD, and in 2012/13, he was IOE Officer-in-Charge reporting directly to the Executive Board.

He brings more than 30 years of professional and managerial experience in international cooperation, focusing on evaluation, quality assurance, global policies, country strategies, and development projects and programmes. His work experience covers more than 50 developing countries in Africa, Asia, Latin America and the Caribbean, and Near East and North Africa regions.

He is fluent in English, Hindi, Italian, and Portuguese, and has some knowledge of French and Spanish.

CONNECT

muthoo.ashwani@ndb.int

https://www.linkedin.com/mwlite/in/ashwanimuthoo

IEO Staff

Qin Liu, Officer. Email: liu.qin@x.ndb.int

Completed evaluation

• India: Madhya Pradesh Major District Roads Project in India

The Independent Evaluation Office has completed its first Project Evaluation of the NDB-financed Madhya Pradesh Major District Roads Project in India, which was approved by the Board in November 2016, with the objective of improving the state’s connectivity of the current rural interior and achieving a larger coverage of the national and state highway It has disbursed more than 90% of Bank funding (US$ 350 million) for a total project cost of US$ 500 million including US$ 150 million from the Government of the State of Madhya Pradesh. It is a sovereign operation.

DOWNLOAD: Evaluation Approach Paper | Executive Summary | Evaluation Lens | Infographic | NDB Management Response | Full Document

Ongoing Evaluations

• Brazil: Financing of Renewable Energy Projects and Associated Transmission Project in Brazil

The Independent Evaluation Office is undertaking a Project Evaluation of the NDB-financed Renewable Energy Projects and Associated Transmission Project in Brazil. This project was selected for evaluation also considering that it was the first non-sovereign operation financed by the Bank. In terms of sector, it is part of the Bank’s clean energy operations. It was approved by the Board in April 2016 and has disbursed 100% of Bank funding (US$ 300 million) for a total project cost of US$ 600 million including borrower (BNDES) co-funding of the same amount.

• COVID-19 Emergency Program Loans

The Independent Evaluation Office is undertaking an Evaluation of the NDB-financed COVID-19 Emergency Program Loans to Brazil, China, India, Russia and South Africa, each of USD 1 billion (or equivalent) in 2020 and 2021. These are the first emergency program loans made by the Bank. The evaluation is important and particularly timely also in light of the global attention focused on crisis prevention, preparedness and response. It is for this reason that it was included in the IEO work programme for 2023. The emergency program loans have been fully disbursed and project completion reports are available. The independent evaluation will be completed during 2023. The Approach Paper specifying the evaluation objectives, methodology, process, timeline, and key questions will be available in due course.

• South Africa: Greenhouse Gas Emission Reduction and Energy Sector Development Project

The Independent Evaluation Office is undertaking an Evaluation of the NDB-financed Greenhouse Gas Emission Reduction and Energy Sector Development Project in South Africa. The project was approved by the NDB Board of Directors in June 2018, for a total project cost of US$ 600 million, out of which NDB is financing US$ 300 million. This is a non-sovereign operation with the Development Bank of South Africa as the borrower of the NDB financing. The objective of the Project is to facilitate investments in renewable energy that will contribute to power generation mix and reduction in CO2 emissions in South Africa, in line with the South African Government’s Integrated Resource Plan 2010 and its target of reducing greenhouse gas emissions as articulated in the National Development Plan 2030. The independent evaluation will be completed by the middle of 2023. The Approach Paper specifying the evaluation objectives, methodology, process, timeline, and key questions will be available in due course.

NDB EVALUATION POLICY
On 24 August 2022, the NDB Board of Directors approved the Bank’s first Evaluation Policy. This policy sets out the overarching framework for conduct of evaluations in NDB. The Policy focus on strategic issues and clearly defines roles and responsibilities across the various components of the evaluation system ensuring complementarity and avoiding overlap and duplication with other entities responsible for oversight in the Bank. The new Policy covers independent evaluations as well as some aspects of self-evaluation. The evaluation policy is intended to help NDB Management and staff, and partners align their expectations in determining why, when, and how to use evaluation for improved development impact and sustainability. The policy learns from a benchmarking of the evaluation policies and equivalent documents of selected Multilateral Development Banks (MDB) and United Nations organizations with respect to the overall coverage of the policies, the roles and responsibilities addressed herein, and the underlying principles. While learning from other MDBs, this policy considers good practices that are most relevant to the unique context of the NDB and its specialized mandate. Also, the policy is established in the Evaluation at NDB’s core principles: Independence, utility, timeliness and credibility and transparency.
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IEO's Work Programme and Budget
The work programme and budget of the Independent Evaluation Office is prepared independently and approved directly by the Bank’s Board of Directors. The activities in the programme are informed by consultations with NDB Management, and feedback from the Board of Directors and partners in member countries.
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