ECG Good Practice Standards
Good Practice Standards for the Evaluation of Private Sector Operations, Third Edition
The ECG first issued the MDB-ECG Good-Practice Standards for Evaluation of Private Sector Investment Operations in 2001. Based on recommendations in the first assessment of the extent to which the good practice standards were being applied, the ECG issued the second edition in 2003. After the second assessment of the application of the standards, this third edition was issued in 2006 and a third benchmarking was completed in 2010.
The GPS lay down the key principles that any development institution that finances the private sector should follow if it is to have a satisfactory evaluation system. The best practice standards reflect more detailed practices that are desirable but not essential.
Several standards have been designated as experimental. These standards deal with the indicators and benchmarks for rating business success, the benchmarks for private sector development, and the benchmarks for contributions to economic development. The members will experiment with these standards and then consider whether to retain them and, if so, whether to revise them before the next assessment of the application of the standards.
The standards recognize that some are not applicable to certain multinational development banks (MDBs) because of the nature of their operations.