This peer review examines the Caribbean Development Bank’s (CDB) evaluation function, which consists of the self-evaluation of the operations and the independent evaluation conducted by the Office of Independent Evaluation (OIE). The main purpose of this review is to provide insight for the renewal of the 2011 Evaluation Policy, as well as to enhance the confidence in and use of evaluations by the Board and Senior Management, with the goal of strengthening the effectiveness, efficiency, and governance of the institution. This review was done using a mixed-methods approach that builds on good-practice principles established by the Multilateral Development Banks’ (MDBs) Evaluation Cooperation Group (ECG), which emphasize independence, credibility, and utility.