Multicycle Evaluation of the Unified Special Development Fund Eighth and Ninth Cycles 2013-2020

This report presents the findings, conclusions, and recommendations from the Multicycle Evaluation of the Unified Special Development Fund (SDF), specifically focusing on the Eighth and Ninth Cycles (SDF 8 and SDF 9). It was commissioned by the Caribbean Development Bank’s (CDB) Office of Independent Evaluation (OIE) and conducted by Technopolis Group. The evaluation aimed to identify achievements, challenges, and recommendations to improve future SDF cycles, particularly SDF 11, the replenishment phase of which is scheduled to begin in March 2024. To this end, the evaluation addresses five key criteria: Relevance, Coherence, Efficiency, Effectiveness, and sustainability, following OECD DAC guidelines.SDF 8 (2013–2016) aimed to address development challenges, focusing on inclusive and sustainable growth, environmental sustainability and climate change, citizen security, and regional cooperation and integration (RCI). The overall programme level was USD$348 million.SDF 9 (2017–2020) aligned with new international development frameworks, emphasising support for Sustainable Development Goals (SDG) targets, climate resilience, and regional cooperation. Major cross-cutting areas included good governance, environmental sustainability, and gender equality. The programme level for SDF 9 was USD355 million.Key differences between SDF 8 and 9 include the full incorporation of SDGs into SDF 9’s poverty-reduction principles, structural reforms in the Basic Needs Trust Fund (BNTF), and initiatives such as the opening of the Haiti Country Office and the regional focal point for RCI initiatives.

The Bahamas Country Strategy and Programme Evaluation 2018-2022

Country Strategy Paper (CSP) period (2018-22), including major projects approved under the previous CSP period (2024-17) still under implementation.

Evaluation of the Caribbean Development Bank’s Environmental and Social Review Procedures 2014- 2022

The current version of the Caribbean Development Bank’s (CDB) Environmental and Social Review Procedures (ESRP) document was approved in 2014 and built on earlier experience in the application of the Bank’s Environmental Review Guidelines (1994) and the Guidelines for the Social Analysis of Projects (2004). The ESRP outlines how CDB, within its mandate and operations, ensures that environmental and social risks are managed. The ESRP include eight environmental and social performance requirements (PRs) to:Optimise decision-making with respect to environmental and social impacts, and risks to anticipate, avoid, mitigate, and/or compensate for adverse project impacts on the environment and affected people and communities. Assist Borrowing Member Countries (BMCs) to build capacity and strengthen their institutions and governance systems to manage environmental and social risks effectively. Provide staff, BMCs, and other development partners with a clear understanding of CDB’s requirements, and procedures, accountabilities for managing environmental and social risks in its operations. The Environmental Sustainability Unit (ESU) is responsible for updating and revising the ESRP, developing other policies/procedures, familiarising and training staff, and providing general guidance. The ESU and the Social Sector Division (SSD) are also involved in project work, coordinating project appraisal and supervision, and providing technical inputs.

Annual Report on Evaluation 2024

In 2024, the Office of Independent Evaluation (OIE) moved from being a small, largely external-facing function to a genuine engine of learning within the Bank. The Peer Review by Inter-American Development Bank (IDB), International Fund for Agricultural Development (IFAD), and World Bank (WB) experts presented an honest mirror, and action was taken: a revised Evaluation Policy, a new Lessons Learned database, a Power BI dashboard tracking every recommendation in real time, and Gender-Responsive Evaluation Guidelines - all developed in 2024. Evaluations tackled the issues that matter most to the Caribbean: water security, climate resilience, poverty reduction, and how the Caribbean Development Bank's (CDB's) flagship concessional fund - the Special Development Fund - is performing on the ground. A first-ever Synthesis Study pulled together lessons from five country evaluations to sharpen future strategy. Expanding global reach, OIE represented the CDB at evaluation forums in China, Guatemala, and The Bahamas, advocating for evaluation approaches built for Small Island Developing States - not just adapted from elsewhere.

OIE Guidelines for Gender-Responsive Evaluations

The Office of Independent Evaluation's (OIE's) Guidelines for Gender-Responsive Evaluations provide practical guidance on integrating gender equality into all stages of the evaluation process - from planning and design through to reporting and use. Drawing on internationally recognised frameworks from UN Women and the European Institute for Gender Equality (EIGE), the guidelines support evaluation commissioners, evaluators, and Bank units in ensuring that OIE evaluations reflect the Caribbean Development Bank's (CDB's) commitment to gender equality and women's empowerment. The document covers evaluation criteria, methodological approaches, team composition, data collection practices, and communication standards, and includes ready-to-use tools and sample evaluation questions.

Exogenous Shock Response Policy Based Loan Series - The Bahamas (2023)

The Exogenous Shock Response (ESR) Policy-Based Operations (PBO) series, which consisted of two stand-alone operations, was approved by the Caribbean Development Bank’s (CDB) Board on December 12, 2019, and September 24, 2020, respectively. The series was initially deployed to assist the Government of the Commonwealth of The Bahamas (GOCB) to cope with the fallout from Hurricane Dorian, which made landfall on the Abaco Islands as a Category 5 storm. By the time the second operation in the series was appraised, The Bahamas had been struck by a second catastrophic shock, the onset of the COVID-19 pandemic. This severely impacted tourism, the country’s leading source of income and employment. In response, CDB adjusted the operation’s objectives and design to address the effects of the pandemic. The amount of the second operation was also increased relative to the amount originally planned for (by USD15 million (mn) to help the country cope with the effects of the pandemic. The Implementation Completion Report (ICR) was finalized on June 13, 2022, and was validated by the Office of Independent Evaluation (OIE) in February 2023. The Evaluator rates the overall performance of the PBL as Satisfactory, consistent with the rating in the ICR. With respect to the individual criteria, relevance received a Highly Satisfactory rating, while effectiveness, sustainability, and efficiency were given Satisfactory ratings, using the Performance Assessment System (PAS) 2013. This validation concurs with the ratings in the ICR.

Market Access and Rusal Enterprise Development Project - Grenada (2023)

Opportunities for economic advancement in rural Grenada were concentrated in the agriculture and fisheries subsectors with linkages to micro and small-scale enterprises, however, the agriculture sector suffered from limited investment in production technology and marketing systems and the absence of a business approach to enterprise development. This affected the ability of small farmers to compete favourably in the sector and penetrate higher-end markets for their agricultural output. Consequently, the Government of Grenada (GOGR) embarked on a transformation programme aimed at improving the performance of agriculture in the rural economy. Funding was required to support this initiative which sought to increase sector output and competitiveness and the ability of small farmers to respond to increasingly stringent market demands. On October 21, 2010, the Board of Directors of the Caribbean Development Bank approved a loan in the amount of three million United States dollars (USD3 mn) to the GOGR for the joint financing of the Market Access and Rural Enterprise Development Project. The overall objective of the project was to enhance the livelihood of rural households through the strengthening and establishment of rural businesses/clusters; the upgrading of technical and business skills among rural enterprises; strengthening value chains and fostering better linkages between production and markets; and the provision of affordable credit. The assessment focused on the core evaluation criteria of relevance, effectiveness, efficiency and sustainability, as well as the complementary criteria of CDB and Borrowers’ performance.

Enhancement of Technical and Vocational Education and Training - Guyana (2023)

In April 2009, CDB approved a loan in the amount of seven million five hundred thousand United States dollars (USD7.500 mn) to the Government of Guyana (GOGY) to contribute to sustainable economic and social development through increased productivity. GOGY contributed Counterpart Resources of USD2.122 mn. The project’s overall objective was to foster an enhanced Technical and Vocational Education and Training (TVET) system. The intended results of the project were: (a) modern and well-equipped Technical Institutes (TIs) in Regions 3 and 5; and (b) an institutional framework for the development of the TVET sub-sector.

Policy Based Loans - Antigua and Barbuda and Grenada

The Economics Department agrees with the finding of the Antigua and Barbuda and Grenada PCR Validation Reports. The Bank accepts the lowering of the Highly Satisfactory Sustainability rating for the Grenada PBL, which was too optimistic a rating, given that there is never full certainty as to whether project level benefits will be sustained. However, the Economics Department differs on the justification provided for lowering the sustainability rating.

Education for All - Haiti (2023)

In May 2007, the Caribbean Development Bank (CDB) approved a grant in the amount of ten million United States dollars (USD10 mn) to the Government of the Republic of Haiti (GOH) for the Education For All Project. In December 2013, CDB approved an Additional Grant in the amount of USD10 mn in response to the disruption of education services caused by an earthquake that devastated the country in January 2010. There was a counterpart contribution of USD2.50 mn. The project’s overall objective was to contribute to social and economic development through a better-educated population. The goal was to increase access to primary education for disadvantaged children by: (a) strengthening public and non-public sector partnerships, (b) enhancing school management capabilities to increase access, and (c) improving equity and monitoring learning outcomes at the primary level. The assessment focused on the project’s relevance, effectiveness, efficiency, sustainability, and CDB's and the Borrower’s performance.