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Title page 1

Contents 4

ACKNOWLEDGEMENTS 6

ABBREVIATIONS AND ACRONYMS 7

KEY TERMS 8

EXECUTIVE SUMMARY 10

MANAGEMENT RESPONSE 16

1. CONTEXT AND SCOPE 20

1.1. EIB GROUP STRATEGY ON GENDER EQUALITY 20

1.2. ABOUT THIS EVALUATION 21

2. THE INSTITUTIONAL ENVIRONMENT FOR PROMOTING GENDER EQUALITY 23

2.1. THE APPROACH FOR IMPLEMENTING THE STRATEGY WAS WELL DESIGNED, BUT THE AMOUNT OF EXPERTISE MOBILISED WAS NOT COMMENSURATE... 24

2.2. DESPITE ENDEAVOURS TO ENGAGE AND INFORM SERVICES, STAFF AWARENESS AND MANAGEMENT SUPPORT TO ADVANCE GENDER EQUALITY... 27

2.3. THE INSTITUTIONAL SYSTEMS TO PROMOTE AND TRACK GENDER EQUALITY IN OPERATIONS HAVE BEEN STRENGTHENED, BUT CHALLENGES REMAIN 28

3. THE ASSESSMENT OF GENDER-RELATED RISKS 35

4. PROMOTING GENDER EQUALITY THROUGH DIRECT LENDING OPERATIONS 38

5. PROMOTING GENDER EQUALITY THROUGH INTERMEDIATED OPERATIONS 45

6. CONCLUSIONS AND RECOMMENDATIONS 50

6.1. CONCLUSIONS 50

6.2. RECOMMENDATIONS 50

REFERENCES 53

ANNEX 1. EVALUATION QUESTIONS AND THEORY OF CHANGE 54

ANNEX 2. GENDER GAPS RELEVANT TO EIB GROUP STRATEGY 56

THE EVALUATION DIVISION OF THE EIB GROUP 57

Tables 5

Table 1. Recommendations and Management Response 16

Figures 5

Figure 1. Number of gender-related intranet posts since the strategy was introduced 28

Figure 2. Feedback of EIB staff on the gender-related guidance tools 30

Figure 3. Feedback of EIB staff on their awareness and use of the available tools 31

Figure 4. Number of gender-focused press releases on the EIB's website and EIF gender-related tweets 34

Figure 5. Proportion of operations with due diligence documents addressing gender risks 36

Figure 6. Percentage of operations with due diligence documents covering gender content, categorised by country risk 37

Figure 7. Growth in number of EIB direct operations contributing to gender equality 38

Figure 8. Share of EIB direct operations contributing to gender equality, in the European Union and beyond 39

Figure 9. EIB operation contents that suggest expected positive contribution to gender equality, EU and non-EU countries 39

Figure 10. Proportion of direct gender operations categorised by type of expected impact and region, 2021-2023 40

Figure 11. Proportion of direct gender operations categorised by sector and region, 2018-2023 41

Figure 12. EIB interaction with project promoters on gender equality 43

Figure 13. Stage of project design at which the EIB was involved 44

Figure 14. Trends in the number of EIB-signed intermediated operations promoting gender equality, inside and outside the European Union 45

Figure 15. Share of EIB Group intermediated operations contributing to gender equality, inside and outside the European Union 46

Figure 16. Feedback of EIB staff on the 2X resources guidance for intermediated operations 46

Figure 17. Intermediaries' feedback on EIB gender-related requirements 47

Figure 18. Number of EIF funds adhering to the gender-smart criteria, by year 48

Figure 19. Theory of change 55

Boxes 5

Box 1. Methods 22

Box 2. Introducing and monitoring performance targets - experience from peer international financial institutions 25

Box 3. Instances where the EIB leveraged the gender expertise of peer international financial institutions 26

Box 4. EIB financing for Gender Equality Tag - the gender tag 29

Box 5. Direct operations tagged as significant show very different levels of contribution to gender equality 32

Box 6. Identifying and mitigating gender risks: A specific example 36

Box 7. Examples of technical contributions made by the EIB to projects on gender equality 42

Box 8. Incentives for final beneficiaries: An example from Serbia 49

Box 9. Evaluation questions 54

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