The Office of Evaluation and Oversight (OVE) is an independent office of the Inter-American Development Bank Group (IDB Group), reporting directly to the Boards of Executive Directors of the IDB and IDB Invest (the Boards). It has the mandate to undertake (i) independent and systematic evaluations and oversight studies of IDB Group performance; (ii) evaluation capacity development (ECD) activities in Latin America and the Caribbean (LAC) countries; and (iii) cooperation with other evaluation offices. OVE reports its findings and recommendations to the Boards, supporting the Boards institutional oversight and promoting a culture of results and learning. Every year, OVE presents to the Boards an Annual Report that summarizes completed activities, provides the status of execution of the assigned budget, and includes a brief preview of future work.
OVE's Annual Reports complement OVE's yearly Work Program Reports, which are presented to the Boards the quarter before the Annual Reports and include brief summaries of the closing years work, the work programs and budgets for the following year, and indicative plans for the year after.