A new OECD working paper takes a pluralist and pragmatic approach to the design of evaluations of blended finance instruments at the front-end of the results chain–particularly related to mobilization and leverage, additionality, and concessionality–and for downstream results, as well. Prepared by a team from DEval, the German Institute for Development Evaluation, and drawing on 140 professional and academic sources, the paper proposes a ten-step guide to design evaluations of blended finance instruments and mechanisms.
“This process begins with the alignment of the evaluation design with OECD norms, standards and guidance on evaluation and blended finance, along with other relevant standards and metrics. It then moves to a detailed interrogation of the intervention’s theory of change and investment thesis, followed by a thoroughgoing gender-equality analysis. This approach can be used for institutions or funds, portfolios, individual deals and investees. In fact, there is a strong case to be made for applying gender analysis at the front end of any evaluation to inform appropriate strategy on stakeholder engagement, choice of methods, data collection and analysis, and use of technology. The next step is to embed stakeholder engagement, especially among downstream actors, and a learning orientation throughout the evaluation. Relevant methods are then selected, integrated, and sequenced, ideally drawn from both the theory-based cluster of methods and the counterfactual cluster. Technology applications are integrated into the design if applicable to gain efficiencies and reach. The evaluation is then implemented and its reports are generated” (pp. 52-53).
To access the full report, click here: LINK