Independent Evaluation Group
            FY25 Budget Proposal and FY26-27 Indicative Budget for Interim Work Program

                                        Report to the Board from the
                                    Committee on Development Effectiveness

                                        Joint Meeting of February 28, 2024



        The Budget Committee and the Committee on Development Effectiveness (the Committees) met
to consider the FY25 Budget Proposal and FY26-27 Indicative Budget for Interim Work Program (R2024-
0033[IDA/R2024-0034, IFC/R2024-0035, MIGA/R2024-0018]; /1).

         The Committees were very supportive of IEG’s proposal to align its work program and budget
process with the new budget cycle over the calendar year 2024, over the proposed three stages. Members
noted the significant growth in Bank lending volumes and welcomed IEG’s intent to better align its work
to the priorities that are emerging from the WBG Evolution process, including the global challenges.

         The Committees commended and supported IEG’s $44 million budget request for FY25, with some
emphasizing the importance of ensuring that IEG has sufficient resources whilst also considering cost
savings to continue delivering its work program. Members expressed their continuous support for the
outcome orientation and knowledge agendas and urged IEG to play a valuable role in the WBG’s
Knowledge Compact for action by feeding into the Knowledge Compact in real time, contributing to the
learning and to the WBG academies and by undertaking a Mid-Term Review of the Knowledge compact.
IEG cautioned that their involvement in the knowledge compact could impact its ability to independently
evaluate it. Members also appreciated IEG’s emphasis on staffing including the recruitment of private
sector, climate and digital experts to effectively support its work program.

         While acknowledging that consultations on IEG’s work plan are still ongoing, members
commended IEG for a thoughtful tentative work plan and appreciated its alignment with the WBG’s
strategic priorities. They were pleased to learn that IEG maintains a line of sight and plans to conduct
evaluations on several areas including energy access, climate and digital technology, FCV, gender and ESF.
They also appreciated IEG’s flexibility to produce relevant just-in-time notes to inform the evolution
process. Some members encouraged IEG to carry out evaluations on IBRD and IFC/MIGA safeguards
frameworks; follow-up work on IDA PSW and non-PSW; as well as on IFC advisory projects. These
requests will be further discussed during consultations between IEG and CODE members.





    This report is not an approved record.