All the other IDGs are expected to go live in FY14
IFC Development Goals
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 we aim 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 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.
IFC has been testing seven IDGs:
IDG1: Increase or improve sustainable farming opportunities;
IDG2: Improve health and education services;
IDG3a: Increase access to financial services for micro/individual clients;
IDG3b: Increase access to financial services for SME clients;
IDG4: Increase or improve infrastructure services;
IDG5: Contribute to economic growth (value added);
IDG6: Reduce greenhouse gas emissions
IDG7: Trade and Regulatory Services: Increase the number of firms that benefit from improved investment, trade, and regulatory services.
The IDGs were not intended to cover every project but to be useful as a strategic management tool, they were designed to cover a significant share of IFC’s business.
In FY 13, IFC moved two goals from testing to full implementation: IDG2: Health and Education and IDG3: Financial Services. IDGs 1, 4 and 6 are expected to go live in FY14.
We received positive feedback about the goals from external stakeholders at an outreach event in September 2011. Based on their recommendations, we made some changes to the goals and indicators. We also made modifications to reflect what we have learned after two years of testing. Discussions continue on how to account for other priority areas of IFC’s work—such as investment climate—without adding undue complexity.
To address concerns that the goals could create a skewed focus on projects with larger reach figures at the expense of projects in smaller countries with a more challenging business environment, we are testing a complementary approach that could be used to provide appropriate weighting to projects in smaller and poorer countries.