Inclusive Finance Practice Area Portfolio Review

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Evaluation Plan:
2011-2011, UNCDF
Evaluation Type:
Others
Planned End Date:
05/2012
Completion Date:
02/2013
Status:
Completed
Management Response:
Yes
Evaluation Budget(US $):
150,000

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Title Inclusive Finance Practice Area Portfolio Review
Atlas Project Number:
Evaluation Plan: 2011-2011, UNCDF
Evaluation Type: Others
Status: Completed
Completion Date: 02/2013
Planned End Date: 05/2012
Management Response: Yes
Corporate Outcomes (UNDP Strategic Plan 2008-20013)
Evaluation Budget(US $): 150,000
Source of Funding: project
Joint Programme: No
Mandatory Evaluation: No
Joint Evaluation: No
Evaluation Team members:
Name Title Email Nationality
Lene M.P. Hansen
Juan Navarrete
Nabina Panday
T. Keyzom Ngodup
Marc de Sousa-Shields
GEF Evaluation: No
Key Stakeholders: CGAP, LDC Governments, Project Funders
Lessons
Findings
Recommendations
1 1. Strengthen Articulation of Value Added at Programme Level
2 2. Redefine UNCDF interventions at Macro-Level
3 3. Strengthen the Private Sector Support Principle at Meso-Level: Clearer objectives and targets, more focused partner selection, and monitoring of performance against the outcomes defined in the UNCDF IF results framework would strengthen UNCDF?s value added and serve to better document UNCDF?s contribution to impact at meso-level.
4 4. Redesign the Retail level Investment Management Structure: improve UNCDF?s funding leverage and enable UNCDF to more constructively participate in the setting-up and governance of more viable investment fund structures
5 5. Increase the Synergy/Integration of CSPs and GTIs
6 6. Fine-tune Measurements to better document Results and Impact
7 7. Programme Governance: Establish GTI Advisory Boards
8 8. Policy Development: Develop operational guidance note on national CPP strategies support to CPPs
9 9. UNCDF Report on gender-disaggregated staff at operational and corporate level
10 10. Develop a broader policy and operational guide for UNCDF in the area of environmentally sustainable operations. Management Response: UNCDF is committed to improving the respect of environmental best practice in its policy and operations and will follow UNDP guidance in doing so
11 11. Provide training and exposure to staff to support the transition from ?project administration? to ?investment management?
12 12. Require CSPs to provide: 1] a standardized summary of annual work plans and annual reports of CSPs and 2] at least one annual case study on lessons learned.
13 13. Develop a Policy Guidance on Disengagement Strategies, and ensure that a heading be included in the template for programme documents on exit strategy
14 14. Reduce the long delay between prodoc approval and CTA arrival
15 15. Solve the operational (procurement and disbursement) issues within PMUs operating under UNDP POPP rules.
16 16. Improved Operational guidance on Selection, Due Diligence and Ranking of FSPs to be Supported, including identification of high value added indicators during appraisal
17 17. Improvements to PBAs: Develop template PBAs for support to ?innovations?, including meso- and macro level investments;
18 18. Improvements to PBAs: Develop clearer policies, procedures, PBA templates and monitoring systems for the debt finance instrument
19 19. Improvements to PBAs: Key indicators should clearly reflect the most desirable (value adding) outcomes for UNCDF (innovations, under-served market expansion, client protection, etc.) and if progress towards the key indicators were clearly included in the disbursement milestones.
20 20. Improvements to PBAs: Strengthen client protection with related indicators for reporting, and (soft) targets, while adding (at least a subset) of the MIX/CGAP social performance indicators; social and environmental monitoring systems and caution against money laundering.
21 21. Improvements to PBAs: Include positive sanctions to incentivize performance.
22 22. Improvements to PBAs: Document justification of funding instrument and require co-financing from recipients.
23 23. Improvements to Monitoring: UNCDF value added indicators (rural, under-served, efficiency, financial depth, gender of management) could be included in ?key performance indicators? and disbursement conditions of PBAs.
24 24. Improvements to Reporting: For meso- and macro-level investees, refine key performance indicators to measure progress against the outcomes set in UNCDF?s CMP and business plan, and disbursement conditions should be linked to documented progress.
25 25. Improvements to FSP Reporting: 1] clarify OER definition; 2] add ROA to profitability indicators; 3] add prudential indicators; 4] require in PBAs for FSPs to disclose external funding; 5] add standardized narrative reporting format
26 26. When CSPs carry out ratings, include social and environmental performance when they are an available option.
27 27. Reporting: develop a standardized annual reporting format for country level (CSPs, inclusive of GTIs)
28 28. Make better strategic use of the data compiled from investees for analysis of portfolio performance and trends.
1. Recommendation: 1. Strengthen Articulation of Value Added at Programme Level
Management Response: [Added: 2013/05/31] [Last Updated: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
1.1. Utilize MAP diagnostic tool to better articulate UNCDF value addition at programme level.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, PM MAP, Director FIPA 2014/01 Completed
1.2 Develop standard questions re: value addition to be addressed by designer in presentation to FIPA Investment Committee
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Deputy Director,FIPA 2013/11 Completed Included in PBA Guidance Note.
1.3 In mature markets, ensure UNCDF is bringing value added, including the use of UNCDF?s global thematic initiatives.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Director FIPA, PMs GTIs 2014/01 Completed Country Frameworks will ensure UNCDF value added.
2. Recommendation: 2. Redefine UNCDF interventions at Macro-Level
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
2.1. The 2014 - 2017 Corporate Management Plan (CMP) will include a limited number of relevant innovations, e.g. client protection, financial literacy, rural penetration, women?s empowerment as a guide to country sector programming.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Policy Advisor 2014/01 Completed Draft Results Framework completed.
2.2. Better utilize the value added of synergy between UNCDF?s CSPs and GTIs via the global identification of expertise, prototypes, and experiences by GTIs to strengthen UNCDF?s value proposition to national policy makers.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Director, PMs of GTIs, CTAs and RTAs, KM specialist 2014/01 Completed Guidance note discussed and adopted during FIPA Retreat.
3. Recommendation: 3. Strengthen the Private Sector Support Principle at Meso-Level: Clearer objectives and targets, more focused partner selection, and monitoring of performance against the outcomes defined in the UNCDF IF results framework would strengthen UNCDF?s value added and serve to better document UNCDF?s contribution to impact at meso-level.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
3.1 Develop PBA guidance note for Meso and Policy level support
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Policy Advisor 2014/01 Completed
4. Recommendation: 4. Redesign the Retail level Investment Management Structure: improve UNCDF?s funding leverage and enable UNCDF to more constructively participate in the setting-up and governance of more viable investment fund structures
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
4.1 Utilize the guidance note on FIPA?s investment role from 2010 as background to develop this policy guidance.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Deputy Director 2014/01 Completed Updated Guidance builds on 2010 note.
4.2 Engage with DFID, the proponent of Financial Sector Deepening Trusts at country level, and Simba at regional level to extract lessons and avoid mistakes in developing the UNCDF model.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Deputy Director 2014/01 Completed Discussions with DFID and key documents, lessons shared.
4.3 Establish clear policy guidance, operational modalities to enable FIPA to more constructively participate in the setting-up and governance of more viable fund structures, as initially led by TSPs. Gain UNDP Legal clearance and UNCDF Senior Management, including Operations, signoff on the new modality.
[Added: 2013/06/03] [Last Updated: 2017/02/20]
FIPA, Director, Deputy Director, UNCDF Executive Secretary and Deputy Executive Secretary 2017/12 Initiated CGAP Focus Note on 'Facilitating Market Systems Development' clarifies key attributes and functions required by UNCDF.
5. Recommendation: 5. Increase the Synergy/Integration of CSPs and GTIs
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
5.1 Clarify the roles and responsibilities of CTAs, RTAs and GTI Programme Managers to all FIPA staff
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Director 2013/10 Completed Guidance note discussed and adopted during FIPA Retreat.
5.2 CTAs annual report to include a list of prioritized agendas/projects and prospective partners or market gaps. CTAs will assist national stakeholders in developing a list of prioritized agendas/projects and prospective partners or market gaps within their respective focus areas.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director to revise format, CTAs to prepare reports 2014/01 Completed Included in PBA Guidance Note.
5.3 GTIs to act as a 'liaison agent for innovation' between global research, development, and piloting efforts (GTIs) and national IF sectors looking for innovation (CSPs).
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA, Director, PMs of GTIs, CTAs and RTAs, KM specialist 2013/11 Completed Guidance note discussed and adopted during FIPA Retreat.
6. Recommendation: 6. Fine-tune Measurements to better document Results and Impact
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
6.1 Review to adjust (and perhaps reduce the number of) the macro, meso and retail targets in the corporate targets reported in the CMP. The indicators for measuring outputs, outcomes and contribution to objectives of each programme could be refined and standardized to ease performance reporting and portfolio monitoring, and in turn ensure better documentation of UNCDF contributions to results and impact.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Director, Deputy Director and Policy Advisor 2014/01 Completed Draft Results Framework completed.
6.2 A revised indicator should better capture access to finance for poor people, by incorporating social performance measurement. (see action 21 below).
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Policy Advisor, FIPA Deputy Director 2014/01 Completed Draft Results Framework completed.
6.3 Revise indicator for funding leverage to ensure acknowledgement of other funders support in reporting
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/07 Completed UNCDF Annual Report prepared on this basis.
6.4 Monitor CGAP review/adoption of DCED standards and if endorsed by CGAP as best practice, then adopt. If not adopted by CGAP by 31 March 2014, then consider status as complete.
[Added: 2013/06/03] [Last Updated: 2017/02/20]
FIPA Deputy Director 2014/03 Completed
6.5 Integrate corporate targets for advocacy for client protection into performance reporting and monitoring systems
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Policy Advisor 2014/01 Completed Draft Results Framework completed.
6.6 Review Performance Based Agreements (PBAs) and PBA guidance note to focus on value added of UNCDF?s investments and accommodate the innovations agenda.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/07 Completed PBA guidance note and PBA template revised.
6.7 Acquire the necessary performance monitoring software to generate, track and analyze multi-country trends across types of investments, programmes, and regions.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/07 Completed MIX Gold analytics support this analysis.
7. Recommendation: 7. Programme Governance: Establish GTI Advisory Boards
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
7.1 Establish a GTI advisory/supervisory committee including UNCDF-external stakeholders with expertise in the relevant product development areas to support and guide the GTI PMs.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA GTI PMs for their respective programme 2014/01 Completed GTIs have added technical expertise to governance.
8. Recommendation: 8. Policy Development: Develop operational guidance note on national CPP strategies support to CPPs
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
8.1 Develop operational guidance note on national Client Protection Policy strategies support to CPPs
[Added: 2013/06/03] [Last Updated: 2017/02/20]
FIPA Policy Advisor 2017/12 Initiated
9. Recommendation: 9. UNCDF Report on gender-disaggregated staff at operational and corporate level
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
9.1 Key entity data, such as staff data at corporate and operational level, is sex-disaggregated in UNCDF?s Corporate Management Plan 2014-2017 and reported on in the annual corporate reporting and reporting to UN SWAP on Gender Equality and Empowerment of Women.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
UNCDF Executive Secretary 2014/01 Completed Included in UNCDF report to UN SWAP.and programming data in CMP.
10. Recommendation: 10. Develop a broader policy and operational guide for UNCDF in the area of environmentally sustainable operations. Management Response: UNCDF is committed to improving the respect of environmental best practice in its policy and operations and will follow UNDP guidance in doing so
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
10.1 Policy and operational guidance on the environment to be updated in the FIPA practice area in line with UNCDF-level decisions in this area.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
UNCDF Deputy Executive Secretary, FIPA Director 2014/01 Completed FIPA is piloting SEMS requirement in PBAs with MicroLead FSPs.
11. Recommendation: 11. Provide training and exposure to staff to support the transition from ?project administration? to ?investment management?
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
11.1 Include training in MIX Premium analytics at annual FIPA retreat
[Added: 2013/06/03]
FIPA Deputy Director, KM Specialist 2012/12 Completed
11.2 Require CTAs and PMs to use MIX Premium analytics to prepare portfolio report for 2012
[Added: 2013/06/03]
FIPA Deputy Director 2012/12 Completed
11.3 Include training in broader issues of ?investment management? (vs. project administration) at 2013 annual FIPA retreat
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA KM Specialist 2014/01 Completed
12. Recommendation: 12. Require CSPs to provide: 1] a standardized summary of annual work plans and annual reports of CSPs and 2] at least one annual case study on lessons learned.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
12.1 CTAs will prepare: 1] an annual portfolio analysis report that also includes 2] a standardized summary of annual work plans and annual reports of CSPs; 3] at least one annual case study on lessons learned; and 4] ranking of key thematic priorities based on local stakeholder consultations.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director to prepare format, KM Specialist to prepare guidance on case study 2014/01 Completed Topics to Cover Included in PBA Guidance Note.
13. Recommendation: 13. Develop a Policy Guidance on Disengagement Strategies, and ensure that a heading be included in the template for programme documents on exit strategy
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
13.1 Develop a Policy Guidance on Disengagement Strategies, to be integrated into ?FIPA Programme Cycle Policies and Procedures? on Disengagement Strategies, and also develop standard text to be tailored to programme context for programme documents on exit strategy
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/11 Completed FIPA Programme Cycle Updated.
14. Recommendation: 14. Reduce the long delay between prodoc approval and CTA arrival
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
14.1 Prepare note highlighting options to make CTA recruitment process more agile finalized for Management endorsement, with the objective to test this approach in 2013.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Director, Chief MSU, Deputy Executive Secretary 2013/07 Completed Note endorsed by HR and senior management for testing in 2013.
15. Recommendation: 15. Solve the operational (procurement and disbursement) issues within PMUs operating under UNDP POPP rules.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
15.1 The solution noted above (4.3) to issue 4. 'Redesign the Retail level Investment Management Structure: improve UNCDF's funding leverage and enable UNCDF to more constructively participate in the setting-up and governance of more viable investment fund structures' should also solve this issue as procurement and disbursement would move from UNDP to the investment funds.
[Added: 2013/06/03] [Last Updated: 2017/02/20]
FIPA, Director, Deputy Director, UNCDF Executive Secretary and Deputy Executive Secretary 2014/01 Completed
16. Recommendation: 16. Improved Operational guidance on Selection, Due Diligence and Ranking of FSPs to be Supported, including identification of high value added indicators during appraisal
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
16.1 Prepare an Operational Guidance Note on Selection, Due Diligence and Ranking of FSPs to be Supported
[Added: 2013/06/03] [Last Updated: 2017/02/20]
FIPA KM Specialist 2017/12 Initiated
17. Recommendation: 17. Improvements to PBAs: Develop template PBAs for support to ?innovations?, including meso- and macro level investments;
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
17.1 Develop template PBAs for support to 'innovations', including meso level investments;
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Policy Advisor 2013/11 Completed
17.2 Develop template PBAs for support to 'innovations', including macro level investments;
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Policy Advisor 2013/11 Completed
18. Recommendation: 18. Improvements to PBAs: Develop clearer policies, procedures, PBA templates and monitoring systems for the debt finance instrument
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
18.1 Update UNCDF Loan Policy
[Added: 2013/06/03]
FIPA KM Specialist 2013/06 Completed
18.2 Update UNCDF Operations Manual and PBA guidance note to include debt instruments
[Added: 2013/06/03]
FIPA KM Specialist 2013/06 Completed
18.3 Update PBA/Loan templates
[Added: 2013/06/03]
FIPA KM Specialist 2013/06 Completed
18.4 Purchase and implement Loan Monitoring Software/database to track UNCDF Loan Portfolio
[Added: 2013/06/03]
FIPA KM Specialist 2013/06 Completed
19. Recommendation: 19. Improvements to PBAs: Key indicators should clearly reflect the most desirable (value adding) outcomes for UNCDF (innovations, under-served market expansion, client protection, etc.) and if progress towards the key indicators were clearly included in the disbursement milestones.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
19.1 Update PBA guidance note to stress that key indicators for performance payments should clearly reflect the most desirable (value adding) outcomes for UNCDF (innovations, under-served market expansion, client protection, etc.)
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/07 Completed PBA guidance note revised on this basis.
20. Recommendation: 20. Improvements to PBAs: Strengthen client protection with related indicators for reporting, and (soft) targets, while adding (at least a subset) of the MIX/CGAP social performance indicators; social and environmental monitoring systems and caution against money laundering.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
20.1 Strengthen client protection with related indicators for reporting, and (soft) targets, while adding (at least a subset) of the MIX/CGAP social performance indicators;
[Added: 2013/06/03] [Last Updated: 2017/02/20]
FIPA Policy Advisor, Deputy Director 2017/12 Completed
20.2 Add social and environmental monitoring systems and caution against money laundering to PBA template.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Policy Advisor, Deputy Director 2014/01 Completed Piloting in MicroLead with Tier 1 level FSPs, and will expand to Tier 2 and 3 FSPs as appropriate.
21. Recommendation: 21. Improvements to PBAs: Include positive sanctions to incentivize performance.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
21.1 Build in incentives for performance to FSPs that meet key performance criteria, e.g. MIX Social Performance reporting.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Policy Advisor, Deputy Director 2014/01 Completed PBA guidance notes flexibility to build in performance incentives.
22. Recommendation: 22. Improvements to PBAs: Document justification of funding instrument and require co-financing from recipients.
Management Response: [Added: 2013/06/03] [Last Updated: 2013/06/03]

Agree to document justification of funding agreement, partially agree to require co-financing from recipients. UNCDF already requests FSPs to indicate their ?own funds? commitment when applying for UNCDF funds. Making this a requirement could be a constraint for smaller FSPs and be unnecessarily costly to ?police? implementation as FSP funds are fungible.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
22.1 Update PBA guidance note to require documentation of justification for funding instrument when presenting proposals to Investment Committee.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/07 Completed PBA guidance note revised on this basis.
23. Recommendation: 23. Improvements to Monitoring: UNCDF value added indicators (rural, under-served, efficiency, financial depth, gender of management) could be included in ?key performance indicators? and disbursement conditions of PBAs.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
23.1 Update PBA guidance note to include UNCDF value added indicators (rural, under-served, efficiency, financial depth, gender of management) could be included in 'key performance indicators' and disbursement conditions of PBAs.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/07 Completed PBA guidance note revised on this basis.
24. Recommendation: 24. Improvements to Reporting: For meso- and macro-level investees, refine key performance indicators to measure progress against the outcomes set in UNCDF?s CMP and business plan, and disbursement conditions should be linked to documented progress.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
24.1 Align key performance indicators for meso and macro PBAs with outcomes set in UNCDF?s CMP and business plan.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Director, Deputy Director, Policy Advisor 2014/01 Completed
25. Recommendation: 25. Improvements to FSP Reporting: 1] clarify OER definition; 2] add ROA to profitability indicators; 3] add prudential indicators; 4] require in PBAs for FSPs to disclose external funding; 5] add standardized narrative reporting format
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
25.1 Clarify that UNCDF uses MIX OER definition
[Added: 2013/06/03]
FIPA Deputy Director 2013/06 Completed
25.2 Update MIX Gold FSP indicators to add ROA to profitability indicators and prudential indicators
[Added: 2013/06/03]
FIPA Deputy Director 2013/06 Completed
25.3 Require in PBAs for FSPs to disclose external funding
[Added: 2013/06/03]
FIPA Deputy Director 2013/06 Completed
25.4 Add standardized narrative reporting format to reporting
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director, KM Specialist 2014/01 Completed PBA guidance note updated.
26. Recommendation: 26. When CSPs carry out ratings, include social and environmental performance when they are an available option.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
26.1 Update PBA guidance note to include this guidance.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/11 Completed PBA guidance note updated.
27. Recommendation: 27. Reporting: develop a standardized annual reporting format for country level (CSPs, inclusive of GTIs)
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
27.1 Amend the portfolio analysis format developed in 2012 for standard country report to include analysis of GTI performance.
[Added: 2013/06/03] [Last Updated: 2014/02/12]
FIPA Deputy Director 2013/11 Completed PBA guidance note updated.
28. Recommendation: 28. Make better strategic use of the data compiled from investees for analysis of portfolio performance and trends.
Management Response: [Added: 2013/06/03]

Agree

Key Actions:

Key Action Responsible DueDate Status Comments Documents
28.1 Use MIX Gold analytics for analyzing portfolio performance and trends.
[Added: 2013/06/03]
FIPA Deputy Director, CTAs and GTI PMs 2013/01 Completed This recommendation was completed while the consultant was drafting the report.

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