Jeddah, Kingdom of Saudi Arabia, 12 October 2023 - The Independent Evaluation Department of the IsDB launched an Independent Evaluation of APIF to assess the results of the fund and their impact on the lives of the beneficiaries, identify lessons, and draw recommendations for improving future programs. In a launch event held on Thursday, October 12, 2023, the IEvD evaluation team presented the draft approach paper for the evaluation of APIF, a fund that invests in AWQAF properties and supports social impact. The team explained the theory of change, the evaluation questions, the data collection methods, and the timeline. The evaluation team shared some preliminary analysis of the APIF portfolio, based on 105 projects in member and non-member countries. The team also showed a flow chart for selecting projects for deep-dive case studies. APIF is a fund that invests in AWQAF properties and aims to augment the role of IsDB in enhancing the sustainable social and economic development of its member countries and Muslim communities in Non-Member Countries. The APIF team and other stakeholders provided extensive comments and feedback on the draft approach paper, covering various aspects such as the benchmarking, the questionnaire, the theory of change, the selection of countries and projects, the data availability and quality, the social impact measurement, the demonstration effect, the liquidity management and the expectations from the evaluation. The meeting concluded with a positive note and a commitment to collaborate and support the evaluation process. The APIF team also expressed their hope that the evaluation will help them showcase their achievements. They also suggested taking advantage of the upcoming Supervisory Committee meeting to engage with the investors.