The primary purpose of the evaluation is to improve the quality of EDCF assistance by incorporation lessons learned and
recommendations from similar projects in the past and to ensure accountability and transparency by providing the
evaluation results to various stakeholders. In this context, EDCF conducts completion monitoring and ex-post evaluation.
Completion Monitoring
Completion Monitoring is carried out on all projects when the project has been fully implemented. This process
concentrates on the correspondence between the original plan and the outcome of the project by the check-list method
based on the Project Completion Report (PCR) provided by the PEA. The PEA should submit the PCR within six months after
the project completion date or such later date as shall be agreed upon between the PEA and Korea Eximbank.
Ex-post Evaluation
Two years after Completion Monitoring, Korea Eximbank performs an Ex-post Evaluation, which is carried out by an
independent evaluation unit, on the project based on international evaluation criteria (Relevance, Efficiency,
Effectiveness, Impact, and Sustainability). The lessons learned and recommendations from the Ex-post Evaluation benefit
the partner country by improving its capacity to prepare, implement and maintain development projects. In order to
ensure the long-term sustainability of the project, when necessary and requested by the partner country, Korea Eximbank
may provide an Ex-post Assistance Facility to the partner country to deal with the issues and problems arising from the
completed project.
