Impact Assessment

IFC Development Goals Overview - Financial Services

    Description
    The IFC Development Goals (IDGs) are corporate-level development goals which IFC began testing in 2011. They were inspired by the Millennium Development Goals as a way to better integrate IFC’s results measurement with strategy.

    The IDGs are high-level targets for the incremental reach the IFC aims to achieve through its investments and advisory services. IFC aims to use the IDGs to drive implementation of strategy and influence operational decision making, alongside volume targets.

    IFC's contributions are counted as expected results at the time projects are committed or signed, and IFC’s regular monitoring and evaluation system tracks the results materializing during project implementation.

    The IFC's IDG on financial services measures the expected increase in access to financial services for individuals and microenterprises; and Small Medium Enterprises clients contributed by IFC’s Financial Markets & Access to Finance projects. It also attempts to measure the increase in access to financial services for women owned businesses or women. After two years of testing, IFC moved this IDG out of test phase and into implementation on July 1st, 2012.

    Incremental Reach and IFC’s contribution:

    The increase is measured by number of outstanding loans, deposit accounts, insurance policies/clients insured, electronic payments and transactional accounts. The incremental reach of IFC clients is the additional reach expected in the 5 years post commitment to achieve a total reach (target) from the current reach (baseline). For greenfield projects, the timeline is 7 years post commitment.