Independent Evaluation Group
Encyclopedia
The World Bank
's Independent Evaluation Group (IEG) is an independent unit within the World Bank Group
. It evaluates the relevance and impact of the Bank Group's support to developing countries for reducing poverty
. The goals of IEG evaluations are to provide an objective basis for assessing results, to provide accountability in the achievement of development objectives, and to help learn from experience. The Independent Evaluation Group (IEG) was preceded by the Operations Evaluation Department
, the name of the entity changed after the Board of the World Bank adjusted its role to enhance the independence of the World Bank Director-General Evaluation
and integrate the evaluation function among the three entities of the World Bank Group, namely the IBRD, IFC, and MIGA.
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
's Independent Evaluation Group (IEG) is an independent unit within the World Bank Group
World Bank Group
The World Bank Group is a family of five international organizations that makes leveraged loans, generally to poor countries.The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary...
. It evaluates the relevance and impact of the Bank Group's support to developing countries for reducing poverty
Poverty
Poverty is the lack of a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. About 1.7 billion people are estimated to live...
. The goals of IEG evaluations are to provide an objective basis for assessing results, to provide accountability in the achievement of development objectives, and to help learn from experience. The Independent Evaluation Group (IEG) was preceded by the Operations Evaluation Department
Operations Evaluation Department
The Independent Evaluation Group is an independent unit within the World Bank that reports directly to the Bank's Board of Executive Directors. IEG assesses what works, and what does not; how a borrower plans to run and maintain a project; and the lasting contribution of the Bank to a country's...
, the name of the entity changed after the Board of the World Bank adjusted its role to enhance the independence of the World Bank Director-General Evaluation
World Bank Director-General Evaluation
The World Bank Director-General Evaluation oversees the work of three units of the Independent Evaluation Group : IEG-World Bank evaluates IBRD and IDA support to countries' overall development; IEG-IFC evaluates Bank Group activities that focus on contributions to private sector development and...
and integrate the evaluation function among the three entities of the World Bank Group, namely the IBRD, IFC, and MIGA.