Reforms to improve development impact and accountability
Development Effectiveness Framework: In 2008, the Board of Executive Directors approved the Bank’s Development Effectiveness Framework, which puts a greater focus on ensuring that Bank products provide empirical evidence of results.
It emphasizes the need to have evidence to propose an intervention, while using quantitative information to monitor project performance. The framework ensures accountability based on measurable results. It also keeps track of the Bank’s contribution to a country’s development. Loans undergo a thorough review 18 months after initial disbursement.
Focus on clients: the IDB has reorganized itself to become more responsive to client needs, by increasing the number of sector staff allocated to Country Offices by 28 percent since 2007and reducing the time to prepare and approve projects by half, to seven months. The IDB also changed the organization of its technical staff. They are now organized by areas of expertise instead of geographical location.
Private Sector: The IDB plans to undertake a more integrated approach to support development through the private sector in Latin America and the Caribbean. In 2009, the Bank began a review of its private sector policy to mobilize additional resources and ensure a greater contribution to poverty reduction and sustainable development.
Knowledge and Capacity Building Framework: The Bank is improving its framework to deliver more value added through non-financial products. The proposed platform for Knowledge and Capacity Building Products (KCP) aims to make them a core business of the Bank, separate from operational and corporate inputs, adapting their funding, operational and accountability arrangements.