The Office of Evaluation and Oversight (OVE) was created in mid-1999 when the evaluation function in the Bank was redesigned after a thirty-year history.  At that time OVE became independent of Bank Management, reporting solely and directly to the Board of Executive Directors.  In this redesign, the Board mandated that OVE conduct Country Program Evaluations (CPE); policy, strategy, thematic and instrument evaluations; and oversee the Bank's internal monitoring and evaluation system, processes and instruments.  Moreover, OVE conducts oversight reviews of corporate strategy, processes and instruments; provides normative guidance on evaluation issues; and contributes to evaluation capacity building in the region. In 2003, OVE began conducting ex-post project evaluations as well.  Independence:      OVE is independent of Bank Management.  It has organizational and behavioral independence, and is free from external pressure and conflicts of interest according to the criteria established by the Evaluation Cooperation Group of the Multilateral Development Banks (ECG), of which the IDB is a founding member. OVE's findings, analyses, and conclusions are free from influence by line management at all stages of the process, including the planning of work programs and budget, formulation of terms of reference, staffing of evaluation teams, execution of evaluations and approval of reports.       Disclosure Policy:      The Bank revised its disclosure policy as of January 1, 2004.  The general principle is to make information available to the public unless there is a compelling reason for confidentiality.  As a result, all OVE documents will be made available to the public after the Board of Executive Directors has completed its consideration of them.  Restrictions apply, however.  Only summaries are disclosed if the borrowing member country objects to disclosure of a Country Program Evaluation.  In that case, information deemed confidential and sensitive will be redacted and a notation as to what section was redacted.  In addition, written comments on evaluations submitted by the country concerned or by the Bank's Management, if any, will be made publicly available if the underlying evaluation is available.         Guiding Principles:   The Board of Governors and the Board of Executive Directors of the IDB seek to ensure that evaluation drives the Bank's decision-making processes and provides the means to measure the Bank's effectiveness so as to ensure accountability.  They have stipulated that evaluation is "a tool for both institutional learning and for systematic assessment of the effectiveness of Bank development policies, the results of Bank financed activities, and related processes." [1]   This dual function of evaluation, illuminating lessons to be learned and assessing accountability, is the foundation for the four critical principles that guide OVE's work: Evaluation is a tool, not an end in itself.  Like other tools, it must constantly be scrutinized for improvement; Evaluation is focused on institutional learning.  Lessons discovered from evaluation work become relevant only when the institution learns from the work and changes future behavior accordingly; Evaluation must focus on assessing the development effectiveness of Bank activities; and Evaluation must focus on the results of Bank-financed activities, not only outputs (projects approved, funds lent), but also the outcomes.       Priority Areas of Work:     Country Program Evaluations Policy and Instrument Evaluations Sector and Thematic Evaluations Ex-post Project Evaluations Oversight of Bank Systems and Processes Evaluation Capacity Development Participation in the Development Evaluation Community of Practice