Leveraging Evaluation for Strategic Decision-Making: Highlights from the 6th IsDB Group Evaluation Symposium
Jeddah, KSA, October 8-9, 2024 – The Islamic Development Bank Group (IsDB) hosted the 6th IsDB Group Evaluation Symposium under the theme “Cherishing Learning and Charting out the Future: The Strategic Value of Evaluation in Decision-Making.” This two-day hybrid event brought together a diverse range of experts and stakeholders to explore how evaluation can enhance strategic programming and drive sustainable development.
In his opening remarks, H.E. Dr. Zamir Iqbal, VP Finance and CFO, representing H.E. Muhammad Al Jasser, Chairman of IsDB Group, reflected on the institution's 50-year journey, stating: " Let us honor the progress we have made and the lessons we have learned while looking ahead with a shared sense of purpose and a renewed commitment to deliver meaningful, sustainable development for generations to come."
The symposium’s sessions covered key topics such as leveraging evaluation for strategic insights, responding to global shifts, and corporate evaluation learnings. A number of Panelists emphasized the importance of independence and rigor in evaluation. Dr. Sabine Bernabè from the World Bank Group said: “We must focus on harnessing new data, technology, and methods to improve the rigor, quality, and usefulness of evaluations, and most importantly, refocus on outcomes.”
Discussions also centered on the role of evaluations in addressing major international issues, including climate change. Discussants highlighted the importance of aligning operational strategies with evaluation recommendations to strengthen IsDB’s effectiveness and stressed the need to consider both intended and unintended impacts of development efforts.
Corporate evaluation was another focus area that enabled senior IsDB Group executives to shed light on how evaluations can influence organizational planning, improve risk management, and enhance development effectiveness. The discussions showed a growing need for more precise evaluations, particularly in corporate functions and ongoing operations.
On the second day dedicated to the private sector, insightful sessions explored adaptive evaluation strategies for the private sector to address global challenges and contribute to advancing the Sustainable Development Goals. H.E. Eng. Hani Sonbol, CEO of ITFC and Acting CEO of ICD, emphasized the importance of using sound monitoring and evaluation data to guide decision-making and accurately measure the social and environmental impacts of the entities’ financing. He stated: "If we are serious about moving from strategic intention to effective impact, which I know we are, we need robust monitoring and evaluation (M&E) systems to guide our actions and measure their effectiveness. Reliable data and evidence are the lifeblood of impact management."
The sixth edition of the Symposium was intended to foster innovative ideas and establish evaluation as a critical tool for shaping the strategic direction of the IsDB Group. As Mr. Ahmed Ag Aboubacrine, Acting Director of IEvD, noted in his closing remarks: “One of the key takeaways from this Symposium is that Learning is not an endpoint but a continuous process. Our ability to embrace learning at every opportunity ensures we stay agile, resilient, and forward-thinking in an ever-changing world.”
In his opening remarks, H.E. Dr. Zamir Iqbal, VP Finance and CFO, representing H.E. Muhammad Al Jasser, Chairman of IsDB Group, reflected on the institution's 50-year journey, stating: " Let us honor the progress we have made and the lessons we have learned while looking ahead with a shared sense of purpose and a renewed commitment to deliver meaningful, sustainable development for generations to come."
The symposium’s sessions covered key topics such as leveraging evaluation for strategic insights, responding to global shifts, and corporate evaluation learnings. A number of Panelists emphasized the importance of independence and rigor in evaluation. Dr. Sabine Bernabè from the World Bank Group said: “We must focus on harnessing new data, technology, and methods to improve the rigor, quality, and usefulness of evaluations, and most importantly, refocus on outcomes.”
Discussions also centered on the role of evaluations in addressing major international issues, including climate change. Discussants highlighted the importance of aligning operational strategies with evaluation recommendations to strengthen IsDB’s effectiveness and stressed the need to consider both intended and unintended impacts of development efforts.
Corporate evaluation was another focus area that enabled senior IsDB Group executives to shed light on how evaluations can influence organizational planning, improve risk management, and enhance development effectiveness. The discussions showed a growing need for more precise evaluations, particularly in corporate functions and ongoing operations.
On the second day dedicated to the private sector, insightful sessions explored adaptive evaluation strategies for the private sector to address global challenges and contribute to advancing the Sustainable Development Goals. H.E. Eng. Hani Sonbol, CEO of ITFC and Acting CEO of ICD, emphasized the importance of using sound monitoring and evaluation data to guide decision-making and accurately measure the social and environmental impacts of the entities’ financing. He stated: "If we are serious about moving from strategic intention to effective impact, which I know we are, we need robust monitoring and evaluation (M&E) systems to guide our actions and measure their effectiveness. Reliable data and evidence are the lifeblood of impact management."
The sixth edition of the Symposium was intended to foster innovative ideas and establish evaluation as a critical tool for shaping the strategic direction of the IsDB Group. As Mr. Ahmed Ag Aboubacrine, Acting Director of IEvD, noted in his closing remarks: “One of the key takeaways from this Symposium is that Learning is not an endpoint but a continuous process. Our ability to embrace learning at every opportunity ensures we stay agile, resilient, and forward-thinking in an ever-changing world.”