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 fu
Publication Date
October 8, 2024
About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Visit our website www.iadb.org/en.
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website www.idbinvest.org/en.
About IDB Lab
IDB Lab is the innovation and venture capital arm of the Inter-American Development Bank Group. We discover new ways to drive social inclusion, environmental action and productivity in Latin America and the Caribbean. IDB Lab leverages financing, knowledge and connections to support early-stage entrepreneurship, foster new technologies, activate innovative markets and catalyze existing sectors. Visit our website www.idblab.org.