In 2025, 14 years after Caribbean Development Bank's (CDB’s) first Evaluation Policy was developed, a new Policy was launched collaboratively with CDB staff, management, and the Board through the Bank's Development Effectiveness Committee. 

The Evaluation Policy, which includes the Independent Evaluation Manual and Self-Evaluation Manual, marks a significant step in enhancing the Bank's evaluation function and aligning it with global best practices adapted to the Caribbean context. "The new evaluation policy strengthens CDB’s credibility and better positions the Bank as it undergoes a governance review, key external assessments, and drafts a new Strategic Plan to 2035", said Roberto La Rovere, Head of CDB’s Office of Independent Evaluation.

Fostering a culture of learning and evidence-based decision-making, in addition to ensuring that evaluations serve as tools for informed decision-making and future programming is at the heart of the revision. The policy is a result of a comprehensive revision and renewal process, reflecting the Bank's commitment to strengthening its evaluation function and improving its accountability and impact.

The guiding principles:

1. Evaluation as a vital organ for a thriving organ-ization
2. Independent evaluation yet interdependent with CDB
3. Global best practice, yet adapted to CDB & its region
4. Growing a generation of Caribbean evaluation leaders

The 2025 Evaluation Policy can be accessed here.