Improving Development through Effective EvaluationThe development paradigm has shifted toward private investment, and the private sector has become central in development strategies. The International Finance Corporation and the Multilateral Investment Guarantee Agency are developing and refining their monitoring and evaluation (M&E) efforts. This report from the Independent Evaluation Group takes stock of the evolution of the M&E systems in the two organizations, assessing their adequacy, coverage, and quality. IEG acknowledges progress by the two institutions. IFC has advanced its systems for gathering and applying project information and has strengthened its coverage of indicators that measure results. MIGA has introduced self-evaluation of its projects and started gathering some standard development indicators. - Discover the importance of IFC and MIGA managements continuing their efforts to deepen M and E. - Learn about key areas that need improvement. - Find recommendations for IFC regarding quality, verification of data, and tracing effects. - Explore how MIGA needs to adapt and streamline its evaluation approach to fit its business practices. This book is for development professionals, policymakers, researchers, and stakeholders in international finance and private sector development.