Early-Stage Evaluation of International Finance Corporation Platforms Approach

Addressing DevelopmentChallenges at Scale An Independent Evaluation © 2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington, DC 20433Telephone: 202-473-1000Internet: www.worldbank.org ATTRIBUTIONPlease cite the report as: World Bank. 2025.Early-Stage Evaluation of International Finance Corporation Platforms Approach: Addressing Development Challenges at Scale.IndependentEvaluation Group. World Bank. COVER PHOTOAdapted from shutterstock/amiak EDITING AND PRODUCTIONAmanda O’Brien GRAPHIC DESIGNRafaela Sarinho This work is a product of the staff of The World Bank with external contributions. The findings,interpretations, and conclusions expressed in this work do not necessarily reflect the views ofThe World Bank, its Board of Executive Directors, or the governments they represent.The World Bank does not guarantee the accuracy of the data included in this work. The bound-aries, colors, denominations, and other information shown on any map in this work do not implyany judgment on the part of The World Bank concerning the legal status of any territory or theendorsement or acceptance of such boundaries. RIGHTS AND PERMISSIONSThe material in this work is subject to copyright. Because The World Bank encourages dissem- ination of its knowledge, this work may be reproduced, in whole or in part, for noncommercialpurposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to WorldBank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax:202-522-2625; e-mail: pubrights@worldbank.org. Early-StageEvaluation ofInternational FinanceCorporation PlatformsApproach Addressing DevelopmentChallenges at Scale March 5, 2025An Independent Evaluation Contents Abbreviationsv Acknowledgmentsvi Management Responsexvi 1.Background and Context������������������������������������������������������������������������������������������1 Definition of Platforms3Evolution of International Finance Corporation Platforms3International Finance Corporation’s Strategic Priorities6International Finance Corporation’s Approach to Platforms7Platforms Approach in Other Multilateral Development Banks8Scope and Methodology9 2.Platforms Approach Performance��������������������������������������������������������������������������17 Response to Crisis at Scale19Engaging with Small Clients and New Clients22Engaging with Clients in International Development Association Countriesand Fragile and Conflict-Affected Situations26 3.Efficiency, Risks, and Reporting����������������������������������������������������������������������������33Efficiency35Risk42Reporting and Oversight50Forward Look: Reflections on Early Experience for Future Use of Platforms53Future Role of Platforms Approach in Achieving Efficiencies54Future Role of Platforms Approach in Responding to Crises and Global Challenges55Future Use of Platforms Approach to Reach IDA Countries and FCS, Small Clients,New Clients, and New Markets55 4.Summary and Conclusions�����������������������������������������������������������������������������������58Summary of Findings on the International Finance Corporation’s Platforms Approach59Recommendations for the International Finance Corporation’s Future Use of thePlatforms Approach60 Bibliography���������������������������������������������������������������������������������������������������������������63 Boxes Box 1.1.Differences Among Platforms, Products, and Programs7Box 3.1.Delegation of Authority: The European Bank for Reconstruction andDevelopment Versus the International Finance Corporation37Box 3.2.Achieving Efficiencies Beyond Platforms: European Bank forReconstruction and Development Initiative42Box 3.3.European Bank for Reconstruction and Development Reportingto the Board of Directors on Projects Approved Under Delegation51 Figures Figure 1.1.Evolution of Platforms in the International Finance Corporation5Figure 1.2. Platforms Approach Evaluation Design11Figure 2.1.International Finance Corporation COVID-19 Response ChanneledThrough and Outside of Platforms21Figure 2.2.Base of the Pyramid and International Finance Corporation StartupCatalyst Projects Reaching New Clients, FY17–2225Figure 2.3.Base of the Pyramid Projects Engaging in IDA Countries and FCS,FY17–2227Figure 2.4.Have Platforms Supported the International Finance Corporation’sEntry into New Sectors?31Figure 3.1.Use of Delegated Authority for Platforms Increased During COVID-19 38Figure 3.2.Riskiness of Platforms Versus the Rest of the InternationalFinance Corporation43Figure 3.3.Riskiness of Platforms Versus Benchmarks, FY17–2245Figure 3.4.Credit Risk Rating of Equity Projects, Platforms, the Rest of theInternational Finance Corporation, and Benchmarks, FY17–2246 Tables Table2.1.Responding to Crisis at Scale: Achievements and Role of the PlatformsApproach for Key Platforms20Table2.2.Engaging with Sm