Figure 53: Illustrative monitoring and evaluation framework for theory of change End of program outcomes – 2.Two-three Performance 4.Evaluation Program 1.Desired result 6.Risks 8.Reporting 9.Use indicators questions of parties Funded SMEs Funded SMEs are i) # of SMEs receiving TA How Secretariat; i) External market risks Annual SAG and FAS, to operationally financially support from investee effective is IM; investee ii) Insufficient financing and reporting to monitor progress sustainable sustainable and funds with improved EMIIF in funds other support by investee funds SAG and FAS and evaluate profitable business practices achieving iii) Underperformance of long-term value of stage ii) Financial performance SME growth? investee SMES due to internal EMIIF initiative of portfolio SMEs (e.g., shortcomings business revenues, profits, design n/a at sales) iii) # and % of SMEs able to secure follow-on capital following EMIIF’s investee Unknown funds initial investments Increased levels of i) # of SMEs incorporating How Secretariat; i) Failure by investee funds Annual id. Increased adoption of adoption of impact management and effective is IM; investee and/or TA providers to impart reporting to gender-equality relevant practices gender-friendly policies in funds sufficient understanding of SAG and FAS design and impact and approaches by (e.g., flexible working facilitating a implicit business value at management by funded SMEs arrangements) mindset shift ii) Lack of buy-in from n/a stage SMEs ii) # and % of SMEs that among underlying SMEs are certified by SMEs? Unknown environmental regulations Proven, verifiable i) Amount and # of How Secretariat; i) External market risks Quarterly id. Demonstrated track-record of of fund managers effective is a trustee; IM ii) Poor performance of investee reporting to investee funds investment (investee funds) receiving structure like fund management team SAG and FAS stage performance by follow-on investments EMIIF in iii) Underperformance of investee funds ii) # of investments developing investee SMEs due to internal design successfully exited sustainable failures n/a at SMEs) iii) Performance of investment portfolio, Unknown based on metrics
Figure 53: Illustrative monitoring and evaluation framework for theory of change – End of program outcomes Program 1.Desired result 2.Two-three Performance indicators 4.Evaluation questions of parties 6.Risks 8.Reporting 9.Use Funded SMEs operationally sustainable Funded SMEs are financially sustainable and profitable i) # of SMEs receiving TA support from investee funds with improved business practices ii) Financial performance of portfolio SMEs (e.g., business revenues, profits, sales) iii) # and % of SMEs able to secure follow-on capital following EMIIF’s investee funds initial investments Unknown at design stage How effective is EMIIF in achieving SME growth? Secretariat; IM; investee funds i) External market risks ii) Insufficient financing and other support by investee funds iii) Underperformance of investee SMES due to internal shortcomings n/a Annual reporting to SAG and FAS SAG and FAS, to monitor progress and evaluate long-term value of EMIIF initiative Increased adoption of gender-equality and impact management by SMEs Increased levels of adoption of relevant practices and approaches by funded SMEs i) # of SMEs incorporating impact management and gender-friendly policies (e.g., flexible working arrangements) ii) # and % of SMEs that are certified by environmental regulations Unknown at design stage How effective is in facilitating a mindset shift among SMEs? Secretariat; IM; investee funds i) Failure by investee funds and/or TA providers to impart sufficient understanding of implicit business value ii) Lack of buy-in from underlying SMEs n/a Annual reporting to SAG and FAS id. Demonstrated track-record of investee funds Proven, verifiable of investment performance by investee funds i) Amount and # of fund managers (investee funds) receiving follow-on investments ii) # of investments successfully exited SMEs) iii) Performance of investment portfolio, based on metrics Unknown at design stage How effective is a structure like EMIIF in developing sustainable Secretariat; trustee; IM i) External market risks ii) Poor performance of investee fund management team iii) Underperformance of investee SMEs due to internal failures n/a Quarterly reporting to SAG and FAS id.
emiif-draft-design-for-likely-procurement-october-2017.docx