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This Country Program Evaluation (CPE) for Guatemala covers the period 2012-2016. It is the fourth occasion on which OVE has evaluated the Bank's program with the country. The previous evaluations covered the periods 1993-2003 (document RE-304-2), 2004-2007 (document RE-352), and 2008-2011 (document RE-404). In the context of the 2016 merger of the Bank's private sector windows (the Structured and Corporate Financing Department and the Opportunities for the Majority Sector) with the Inter-American Investment Corporation (IIC), OVE has also been given the mandate of evaluating all operations financed by the IIC. This evaluation looks at the IDB Group's relationship with the country from an independent perspective, with particular reference to the relevance and effectiveness of the program. The evaluation is organized into four chapters, plus annexes. Chapter I assesses the general context of the country. Chapter II provides a general analysis of the Bank's program in 2012-2016, with particular reference to the relevance of the country strategy and the program as actually implemented. Chapter III analyzes, from a sector perspective, the implementation, effectiveness, and sustainability of the operations, and of progress toward the strategic objectives proposed by the Bank in its country strategy. Chapter IV presents conclusions and recommendations.

As part of its 2016 work plan, the Office of Evaluation and Oversight is preparing the Country Program Evaluation (CPE) for Peru for the period from June 2012 to June 2016. This document sets out the approach, scope, and methodology for the CPE. This will be the first CPE to include operations approved by the InterAmerican Investment Corporation (IIC). Since the merge-out of the Structured and Corporate Financing Department (SCF), the Opportunities for the Majority Sector (OMJ), and the IIC in January 2016, OVE has received the mandate to evaluate all operations financed by the IIC.1 Therefore, in addition to the operations approved for the SCF and the OMJ (as is customary), this CPE will include all those approved by the IIC during the review period.

This document presents the results of the IDB Country Program Evaluation (CPE) with Bolivia for the 2011-2015 period. It is the third independent evaluation of the IDB's program with Bolivia. The first CPE covered the 2004-2007 period, which was marked by a process of political transition. This culminated in the victory of Movimiento al Socialismo [Movement to Socialism] (MAS) in the 2005 elections and the accession of Evo Morales to the presidency in 2006. The second CPE covered the 2008-2010 period, which was characterized by profound institutional changes following enactment of the new Bolivian Constitution. This CPE (2011-2015) evaluates the IDB's program with the Government of Bolivia for the 2011-2015 period. The IDB's strategy with Bolivia falls within the framework of the 2010-2015 Government Plan, which is organized around four strategic pillars: Bolivia Democratica [Democratic Bolivia], Bolivia Productiva [Productive Bolivia], Bolivia Digna [Dignified Bolivia], and Bolivia Soberana [Sovereign Bolivia]. The evaluation was conducted in accordance with OVE's mandate (RE-238) and the Protocol for Country Program Evaluation (RE-348-2). Its main objectives are to facilitate accountability and identify lessons learned that can improve the Bank's future program. The report is organized into four chapters. Annex I analyzes the country context in which the IDB's program was developed, including the political, economic, and social contexts. Chapter II analyzes the financial relevance of the program and its operational portfolio during the 2011-2015 period. This chapter also includes an analysis of efficiency in program implementation. Chapter III analyzes the relevance of the models of intervention set out in the country strategy, and the sector outcomes of the portfolio, with emphasis on sustainability. Lastly, Chapter IV presents conclusions and recommendations. The Sector Annexes present complete information regarding trends in the sectors prioritized by the IDB in the country strategy, as well as sector challenges during the evaluation period and the relevance of IDB action in each sector. Annex I analyses the loan and technical cooperation portfolios, the main implementation issues, and portfolio outcomes. Two supplementary technical studies were carried out: a macroeconomic and public finance report (Annex II) and a report on the decentralization process and the trends of unmet basic needs index at the subnational level (Annex XI).