Early-Stage Evaluation of International Finance Corporation Platforms Approach: Addressing Development Challenges at Scale - An Independent Evaluation

In December 2022, the International Finance Corporation (IFC) redefined platforms as a mechanism for scaling new business development. This is an early-stage evaluation assessing IFC’s platforms approach through the lens of all seven platforms introduced between fiscal years 2017 and 2022. As an early-stage evaluation, the report did not examine the profitability or development impact of the platforms currently underway. Rather, it assessed the extent to which IFC platforms achieved their stated objectives, including (1) Responding to crisis at scale, (2) Engaging with small and new clients, and in new sectors (3) Engaging with clients of the International Development Association (IDA), the World Bank’s fund for the poorest countries, and in fragile and conflict situations. The evaluation also assessed the extent to which IFC’s platforms approach meet expectations on oversight, reporting, and efficiency gains while balancing risks and benefits to enhance trust over time. It also provides insights derived from focus group discussions of early experience to assist IFC in shaping the future use of platforms to address crises, global challenges and to reach new and small clients and markets. The evaluation makes two recommendations on the future use of platforms and on platform reporting and monitoring: (1) Extend the platform approach by building on the benefits revealed in the pilot period and generating new learning on platform performance. (2) To facilitate oversight of and learning from platforms, IFC and the Board agree on the level, content, format, and frequency of reporting on platforms and platform projects, rooted in clear results frameworks.