Financial Services

Caribbean Development Bank (CDB) has extensively made use of Policy-Based Lending (PBL) as a strategic instrument to support macro-fiscal stability, institutional reform, and resilience-building across its Borrowing Member Countries (BMCs). Given the instrument’s growing importance and evolving design, the Bank commissioned this independent evaluation to assess its relevance, effectiveness, and future strategic positioning.The evaluation concludes that the CDB should continue using Policy-Based Loans (PBLs) but ensure clear policy and institutional additionality through complementary operations grounded in technical assistance (TA). These engagements should prioritise a sequenced, programmatic, and development-oriented approach.

Youth

The primary purpose of this formative evaluation is to provide insights to enhance the ongoing development and implementation of the Caribbean Development Bank’s Youth Policy and Operational Strategy (YPOS). The evaluation also presents an opportunity to inform the Caribbean Development Bank (CDB) 2026-2035 Strategic Plan, which includes youth as one of the Bank’s main axes. The evaluation seeks to provide evidence on the main lessons learned, the enabling factors, and the challenges faced by CDB and Borrowing Member Countries (BMCs) for implementing youth operations, initiatives, and activities related to and guided by the YPOS. The evaluation was commissioned by CDB OIE and conducted by an external evaluation consultancy firm from June 2025 to December 2025. As part of OIE’s enhanced quality assurance and governance, OIE convened an Evaluation Reference Group (ERG) to provide advice and guidance on the evaluation. The ERG consisted of three youth leaders from the Caribbean who are external to the CDB and were selected by OIE, as well as several key staff members who have been involved in YPOS and youth-related operations at the Bank.

The Office of Independent Evaluation's (OIE's) Annual Report on Evaluation 2025 documents a defining year of transition and transformation for the Caribbean Development Bank's (CDB's) evaluation function. The report covers the renewal of CDB's Evaluation Policy - approved by the Board in December 2025 - and the development of two new operational manuals guiding independent and self-evaluation. It presents OIE's work across six interconnected streams: governance and systems, conducting evaluations, building evaluation culture and capacity, partnerships and networks, follow-up on recommendations, and communication and knowledge dissemination. Key highlights include completed country and corporate evaluations, the launch of a pilot Real-Time Evaluation in Guyana, the establishment of the inaugural Evaluation Advisory Committee, and the start of a regional capacity-building partnership with CLEAR-LAC. The report also outlines OIE's vision to 2030 and priorities for the new 2026-2028 Work Programme.