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.

The Work Programme encompasses the evaluative initiatives planned for the forthcoming fiscal year (2026), along with a forward-looking tentative plan for the subsequent fiscal period (2027). This document presents the adjustments to evaluation activities scheduled in the current fiscal year (2025), supported by justifications that reflect changing priorities and contexts and OIE’s new vision. The changes are also due to the completion, in 2025, of the 5-year rolling WP 2020-2025, the transition in OIE leadership during the first half of 2025, and the start of a new OIE rolling WP that, from 2026 onwards, will be in 3-year cycles to reflect the more dynamic nature of global changes. The 2026-2028 WP anticipates and strategically aligns with broader milestones, including the completion of the Sustainable Development Goals and Agenda 2030, as well as the simultaneous development and upcoming entry of the Bank into a new CBD’s Strategic Plan 2026-2035.

The Caribbean Development Bank’s (CDB) Office of Independent Evaluation has undertaken a final evaluation of the Community Disaster Risk Reduction Fund (CDRRF) and its eight sub-projects to assess their relevance, coherence, efficiency, effectiveness, and sustainability. The evaluation covers the implementation period of the Fund from 2012-2020 in four Borrowing Member Countries (BMCs): Jamaica, Belize, St Vincent and the Grenadines (SVG), and the British Virgin Islands (BVI).The CDRRF is a multi-donor trust managed by the CDB, with contributions from the Government of Canada, the European Union and the CDB, that was established in 2012 to help community members and groups to reduce their vulnerability to risks associated with natural disasters and to adapt to a changing climate.