Evaluation of the Caribbean Development Bank Energy Sector Policy and Strategy (ESPS) (2015-2020)

In 2015, the Caribbean Development Bank (CDB) implemented its Energy Sector Policy and Strategy (ESPS) whose general goals were transforming the energy sector in borrowing member countries (BMCs) by increasing energy security and sustainability while enabling economic growth through interventions supported by financial instruments (loans, grants, guarantees, etc.). To meet the BMC’s growing demand for actions and support in the energy sector, the CDB needed an evaluation of the ESPS by an external party to assess BMC performance and impacts over the previous five-year period (2015-2020). The evaluation was focused on four prioritized investment areas, namely (1) renewable energy, (2) energy efficiency, (3) energy infrastructure, as well as (4) sector reform, good governance, and capacity strengthening. The mandate also comprised an analysis of results and challenges encountered by the CDB in implementing the ESPS (2015-2020) and the issuance of a series of lessons learned and recommendations. The evaluation also served to provide insights on the future iteration of the ESPS. 

The evaluation covered ESPS coherence, efficiency, effectiveness, relevance, sustainability, and impacts as well as the mainstreaming of environment and social inclusion into projects. More specifically, the evaluation was structured around the following overarching questions:

• To what extent did the ESPS contribute to policy and regulatory improvements in the regional and national energy sectors?

• To what extent did the CBD position itself as a key energy sector development partner in BMCs?

• To what extent did the CBD make appropriate internal and institutional adaptations to deliver on the commitments outlined in the ESPS?

• To what extent did the portfolio of investment projects and technical assistance inspired by the ESPS achieve the desired results?

To answer these questions, Econoler carried out the following tasks:

• Conducted a desk review of the ESPS project database and all other relevant documentation;

• Carried out several data-collection activities (in-depth interviews, focus groups, surveys) with all key stakeholders including CDB staff, donors, and beneficiaries;

• Performed detailed analyses on a representative sample of six projects with the objective of assessing their relevance, efficiency, effectiveness, benefits, and sustainability;

• Evaluated ESPS impacts on the energy strategy of BMCs and at the regional level. 

Pursuant to these tasks, Econoler analyzed the results, identified key lessons learned, and provided recommendations and insights in an evaluation report that proved to be key for ESPS 2022 planning.