Evaluating the EBRD's work

Evaluation overview

The independent Evaluation Department evaluates the performance of the Bank’s completed projects and programmes relative to objectives.

It systematically analyses the results of both individual projects and wider themes defined in the Bank’s policies.

The core objective of evaluation is to contribute to the Bank’s legitimacy, relevance and to superior institutional performance. To achieve its core objective, the Evaluation Department fulfills two primary functions:

  • It provides a critical instrument of accountability through objective, evidence based performance assessment of outputs and outcomes relative to targets; and
  • It contributes to institutional learning for future operations by presenting operationally useful findings.

Report on the Bank's evaluation system

The European Bank for Reconstruction and Development commissioned an independent external report on its evaluation system. It was carried out by Colin Kirk. The aim of the study was to assess whether the EBRD’s evaluation system reflects best practice, is meeting the needs of the Bank and is contributing to improving institutional performance, learning and accountability. The study has made some important recommendations.

Read the full report


EBRD Management has responded to the report and has reaffirmed its commitment to a culture of learning at the Bank.

Read report

The EBRD’s Evaluation Department has also commented on the report

Read Evaluation Department comments