Thematic Evaluation
The energy sector in South Africa plays a crucial role in driving sustainable economic and social development, and NDB is an important player in the process.
In light of this the Independent Evaluation Office (IEO) is currently conducting a thematic evaluation of NDB’s financing and activities in South Africa’s energy sector. This is the first thematic evaluation conducted by IEO, and the final evaluation report will be finalised and issued by the end of 2025.
Building on individual project evaluations in the energy sector already completed by IEO in South Africa and based on additional evidence to be collected and analysed, the evaluation will provide an opportunity to assess past results in a comprehensive manner, identify lessons and good practices, and make recommendations for the way forward.
The Approach Paper specifying the evaluation objectives, methodology, process, timelines, and key questions is available at the below link.
For any further information, contact Jin Zhao, Evaluation Specialist at zhao.jin@ndb.int.
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Corporate-Level Evaluations
An efficient and well-functioning project cycle is a critical determinant of NDB’s development impact and lies at the core of NDB operations. The “project cycle” means all the stages in the life of a project – from conception of the idea, to Board approval, through to implementation and closure.
The corporate-level evaluation (CLE) will seek to assess, amongst other things, whether the current project cycle enables enhanced development results and impact from NDB operations; and the evaluation team will then formulate recommendations to improve the cycle.
The final report is expected to be presented to the Board in Q1 2025.
The Approach Paper specifying the evaluation objectives, methodology, process, timelines, and key questions is available at the below link.
For any further information, contact Henrique Pissaia, Principal Professional Specialist at pissaia.henrique@ndb.int.
DOWNLOAD: NDB Project Cycle (Sovereign Guaranteed Operations) Approach Paper
According to the NDB General Strategy for 2022-2026, NDB’s human capital is its main asset in fulfilling its mandate, and the Bank is committed to building “a talent-intensive institution”. As requested by the Budget, Human Resources and Compensation Committee (BHRC) and approved by the Board of Directors, the Independent Evaluation Office is currently conducting a corporate-level evaluation of the Bank’s human resources management. The final report is expected to be presented to the Board in Q1 2026.
The primary objectives of this evaluation are to: assess the overall relevance of NDB’s HR policy framework as well as the effectiveness and efficiency of the Bank’s HR management; generate evidence-based findings and recommendations to further enhance the HR policy framework and management; and provide insights that can feed into the development of the Bank’s third general strategy.
The Approach Paper specifying the evaluation objectives, methodology, process, timelines, and key questions will be published soon.
For further information, please contact Manas Puri, Senior Professional, at puri.manas@ndb.int.
In 2025, NDB will complete a decade of activities. During these first 10 years the Bank has approved 109 projects (net of cancellations) for a value of approximately USD 35 billion, implemented two General Strategies and achieved many goals – such as setting up regional offices in all of its founding member countries.
At this natural juncture, IEO will conduct a corporate-level evaluation (CLE) on NDB’s first decade. It will reflect on these achievements, consider what could have been done differently and posit lessons to help the Bank face coming challenges. The CLE’s findings will support the development of NDB’s third General Strategy, for 2027-2031.
The final report is expected to be presented to the Board in Q2 2027.
The Approach Paper specifying the evaluation objectives, methodology, process, timelines, and key questions will be published soon.
For any further information, contact Henrique Pissaia, Principal Professional Specialist at pissaia.henrique@ndb.int.
Country Portfolio Evaluation
China is one of the founding members of NDB, and from July 2015 until the end of 2024 NDB approved 27 projects in the country to a value of USD 8.86 billion, representing 24% of its cumulative funding.
In 2025, IEO will conduct its first country portfolio evaluation (CPE) for China. The primary aim of the CPE is to assess the overarching partnership between NDB and China in fostering economic and social development and to provide actionable insights and recommendations to strengthen future collaboration. The evaluation will analyse all of NDB’s operations in China from July 2015 to December 2024, focusing on two interdependent pillars: (1) NDB-funded projects; (2) non-lending activities (technical assistance, capacity-building, research, knowledge-sharing, and partnerships).
The evaluation Approach Paper linked to below provides an overview of the evaluation objectives, methodology, process, timelines, and key questions.
For any further information, please contact Chao SUN, Senior Professional, at sun.chao@ndb.int.
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Project Performance Evaluations
The Delhi-Ghaziabad-Meerut Regional Rapid Transit System (DGM-RRTS) Project aims to develop an 82.15 km high-speed railway line in and around the India’s capital city. The NDB Board approved the USD 500 million sovereign loan in September—accounting for 13.3% of the total project cost—and the project is being implemented under a parallel financing arrangement with the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB). With 50 km of the corridor already operational, the project is expected to significantly reduce travel time to Delhi, lower annual CO₂ emissions, and enhance rider safety, affordability, connectivity, and comfort. In doing so, it is set to boost productivity in the NCR, foster economic growth, and support more balanced regional development.
IEO’s project performance evaluation (PPE) is expected to be completed by October 2025.
The evaluation Approach Paper will be published soon, specifying the evaluation objectives, methodology, process, timelines, and key questions.
For more information, please contact Nidhi Chaudhary, Evaluation Specialist, at chaudhary.nidhi@ndb.int.
Project Completion Report Validation
The Renewable Energy Sector Development Project in India was completed in July 2022. Approved by NDB’s Board in October 2019, this was the Bank’s first non-sovereign operation in India. The project involved a USD 300 million corporate loan to REC Limited—under the Ministry of Power, Government of India—to support the development of renewable energy infrastructure. Designed to strengthen India’s clean energy transition, the project financed five solar and wind energy sub-projects with a total installed capacity of 655.6 MW, exceeding original targets.
At the closure of every project, NDB prepares a project completion report (PCR) – a type of self-assessment designed to measure the project’s implementation performance and results. IEO then conducts an assessment of the overall quality of the PCR – by undertaking a project completion report validation (PCRV).
The PCRV for the Renewable Energy Sector Development Project will be published soon.
For more information, please contact Nidhi Chaudhary, Evaluation Specialist, at chaudhary.nidhi@ndb.int.