Monitoring and Evaluation System Design under Bangladesh Investment Climate Fund (BICF)

The objective of the BICF M&E system were to serve three critical purposes. First, as a tool it was intended to enable the BICF to:

• learn lessons from its various interventions,
• apply these lessons in its operations, and
• disseminate these lessons to improve relevant TA programmes of the World Bank Group and of donors in Bangladesh and elsewhere

  Second, the M&E structure to contribute advocacy for reform by making reform progress public. The results gained from the M&E process were the primary substance for the PSD communication strategy that were implemented by BICF to support long-term reform capacity in Bangladesh.  IFC experience showed that dissemination and communication of M&E findings raise broader public awareness, public support and political will for the reforms, and weakens illegitimate vested interests against reforms. Thirdly, the M&E system ensured BICF’s transparency and accountability to its stakeholders, i.e., the Government of Bangladesh, private sector, civil society and donors. The M&E system enabled the BICF to clearly demonstrate to its stakeholders whether it was achieving the stated goal, outcomes and outputs in accordance with the targeted timeframe. In particular, the M&E system would demonstrate the attribution of BICF interventions to the PSD reform process in Bangladesh in reforming and streamlining business regulations, improved the regulatory framework and institutional structure to increase private investment in industrial land, and developed institutional capacity within the government on private sector development related issues