Early-Stage Evaluation of International Finance Corporation Platforms Approach:
                                 Addressing Development Challenges at Scale
                                          An Independent Evaluation

                                           Report to the Board from the
                                       Committee on Development Effectiveness ∗

                                             Meeting of February 4, 2025


        The Committee on Development Effectiveness (“the Committee”) met to discuss the Independent
Evaluation Group (IEG) report entitled Early-Stage Evaluation of International Finance Corporation Platforms
Approach: Addressing Development Challenges at Scale, An Independent Evaluation (CODE2024-0048; /2) and
the Draft Management Response (CODE2025-0003).

         The Committee welcomed the early-stage evaluation of the IFC Platforms Approach which was
requested by the Board in 2022. Members acknowledged that the evaluation did not focus on the relevance or
effectiveness of individual IFC platforms or whether these have been achieving their intended outcomes but
rather aimed at assessing whether the pilot approach has met Board and client expectations and at identifying
lessons learned that could be integrated in the future processes. IEG reminded the Committee that the report had
recently been finalized, in the context of the Global Challenge Programs, and IEG presented its preliminary
findings to CODE and Management on an exceptional basis in July 2024. The Committee appreciated that the
study covered not only seven platforms introduced between FY17 and FY22, but based on the Board’s request,
IEG expanded the scope of the evaluation and included also projects approved in FY23 under these platforms.

         Members noted their agreement with the early-stage findings that platforms generally achieved their
objectives of scaling up the COVID-19 crisis response, reaching smaller and new clients, engaging in new
sectors, and expanding IFC’s reach in IDA and FCS countries. They appreciated learning that (i) operational
efficiency; (ii) risk pooling and mitigation of risk using blended finance; and (iii) focus on specific development
challenges were features that contributed to their success. The Committee expressed its support for IEG
recommendations which suggested that IFC extends the approach embodied in its pilot to new platforms, as well
as for IFC and the Board to reach and implement an agreement on the level, content, format, and frequency of
reporting in order to facilitate oversight of and learning from platforms. Members emphasized the importance of
improving reporting and establishing a robust results framework for IFC platforms. Some suggested that a joint
working group be set up to address these topics and ensure that the reporting and results frameworks for platforms
meet the needs of the Board. IFC management was generally open to continuing the engagement with the Board
in this respect.

         The Committee welcomed IFC management’s agreement with IEG recommendations and was pleased
to learn that IFC has begun implementing the recommendations and intend to update its Pilot Approach taking
into consideration key lessons learned. Members asked IEG to consider a full-fledge evaluation that examines
development results when project completion data is available, including on individual platform projects, to get
a better understanding of lessons learned, and the outcomes and development impacts achieved through the use
of IFC Platform Approach. IEG explained that such an evaluation, would need to be considered from an
evaluability perspective, and the topic discussed as part of the FY27-29 work program consultations, which are
envisioned to start in September 2025. IEG indicated that such an evaluation could be carried out no earlier than
FY28 were it included in the work program, and suggested another option is to cover the work of individual
platforms in relevant its sectoral and thematic evaluations.




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    This report is not an approved record.