IDB, IDB Invest and IDB Lab Launch 2024 Report on Results and Impact of Operations

Study highlights 75% compliance with Corporate Results Framework 2020-2023 goals

The Inter-American Development Bank (IDB), IDB Invest and IDB Lab launched their "Development Effectiveness Overview (DEO) 2024" report, which analyzes the results and impacts of their operations during 2023, showing that more than 34 million people benefited from health services, 3.4 million women were included in economic empowerment initiatives, and 6.6 million citizens participated in employment support initiatives in Latin America and the Caribbean. These results support the achievement of the U.N. Sustainable Development Goals.

The report was released in the midst of a renewed approach to development effectiveness as the IDB Group seeks to reinforce the importance of impact within its structure, operations, organizational culture, and incentives in order to achieve greater impact and scale.

The DEO highlights that over the past four years the IDB made major strides in aligning its new projects with strategic priorities, dramatically improving its ability to support institutional capacity, gender equality and diversity, and climate change mitigation and adaptation.

The report also shows that 75% of the targets set out in the 2020-2023 Corporate Performance Framework have been met and a further 15% have shown improvement over pre-2020 levels.

Generating impact in the region

DEO 2024 examines the performance of projects during implementation and closure, and highlights progress towards comprehensive reform to redefine the IDB's Development Effectiveness Framework.

It also shows how IDB Invest's Impact Management Framework has proven its effectiveness in assessing and monitoring operations throughout their life cycle. For the first time, the DEO, through a sector- and region-level analysis, demonstrates how IDB Invest has strengthened its ability to examine performance data concerning both monitoring and evaluation, to identify the determinants of performance and better manage the portfolio to generate more impact.

As for IDB Lab, the report underscores its transformation to consolidate itself as an investment vehicle to support early-stage innovations and ecosystems in Latin America and the Caribbean. In addition, the study looks into the scaling potential of the innovations supported by IDB Lab and the lessons learned from failed projects, two fundamental issues for an innovation lab.

The DEO also explores lessons learned from the work of the IDB, IDB Invest and IDB Lab, and learnings related to social protection, human capital development, access to essential services and economic inclusion, along with gender equality and inclusion of diverse groups in the region. The report also includes a look ahead to the ongoing efforts under the umbrella of IDBStrategy+ to further strengthen the focus on the impact of the Group's three institutions.

For more information, you can download the full Development Effectiveness Overview document here.

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