The thematic evaluations of EIB and EIF operations take approximately 12 to 16 months, a figure in line with other international financial institutions (IFIs), and include:
- Analysis of the Bank’s relevant policies and strategies
- Analysis of the portfolio of relevant projects
- Interviews with relevant parties inside and outside the EIB group
- The specific evaluation of some individual operations
- Complementary studies or surveys, depending on the overall theme.
The process itself is regularly updated, taking into account the evolving activities of the EIB Group, new areas of analysis for EV and recommendations made from outside the organisation.
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The criteria for evaluation of EIB operations are: | |
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| Relevance | Are objectives consistent with underlying policies and beneficiary needs? |
| Effectiveness | Were objectives achieved? |
| Efficiency | Are benefits commensurate with costs? |
| Sustainability | Are there continued long-term benefits? |
| EIB Contribution | What was EIB's financial and technical contribution to the project? |
| EIB management of the project | How was the project cycle managed? |
In addition to these project-based criteria, the EIB’s contributions are also assessed, notably what financial value added is brought about compared to alternatives, as well as how the Bank manages the project cycle from beginning to end and any other contribution that may have been made. This aspect of the evaluation is rated separately from the overall study, though it does form part of it. The Bank also uses its self-assessment to consider its own practices.
A process of consultation is carried out before EV reports (thematic and their component individual parts) are finalised. Recommendations are included in the reports, and EIB Management is bound to provide an official reply to these recommendations.
Operations Evaluation – rating scale
In accordance with the Evaluation Cooperation Group principles used by IFIs, operations are rated on a four level scale. These are 4 – excellent, 3 – satisfactory, 2 – partially unsatisfactory and 1 – unsatisfactory.
Further information about Evaluation can be found in the EIB Group Evaluation Policy.