Assessing the Impact of Multi-Regional Development Programs
Islamic Development Bank (IsDB)
The Challenge
The Islamic Development Bank (IsDB) has long leveraged Special and Trust Funds (STFs) to channel concessional finance into strategic development priorities aligned with its Shari’ah-compliant mandate. In 2022, it established a centralized STF Department to enhance fund governance, improve coordination, and strengthen relationships with donors. With this institutional consolidation came the need to create the first comprehensive Consolidated Annual Report covering all four distinct funds: Al Aqsa & Palestine Funds, King Abdullah bin Abdulaziz Program (KAAP), Lives & Livelihoods Fund (LLF), and the Waqf Fund.
The core challenge lay in developing a unified, narrative-driven report that reflected the diversity of fund operations, donor expectations, financial transparency, as well as performance metrics; while also exploring development impact and alignment with the Sustainable Development Goals (SDGs). The IsDB partnered with Shared Pathways to undertake this complex task, with a mandate to blend analytical depth, stakeholder insight, and strategic storytelling in a single, compelling product.
Our Approach
We adopted a multi-layered, participatory, and evidence-based methodology to ensure a comprehensive and credible reporting process. Key components of the approach included:
- Analysis of 30+ internal documents, including strategic plans, financial statements, operational reports, standalone annual reports, and previous reporting materials.
- In-depth interviews with key stakeholders from each fund unit, including fund managers, M&E leads, and program officers, to capture performance insights, challenges, and institutional evolution.
- Evaluation of projects funded by each Fund across a sample of countries, extracting lessons and highlighting impact stories across sectors such as health, education, agriculture, and humanitarian support.
- Assessment of reporting practices of other multilateral development banks (MDBs) and vertical funds to identify best practices in performance communication and donor visibility.
- Integrated analysis of financial and operational performance with qualitative storytelling and SDG alignment mapping to increase the accessibility and influence of the report.
What We Delivered
The consultancy resulted in the production of a comprehensive and visually engaging report that reflected both the accountability and strategic value added by the STF Department. Key outputs included:
- STF Consolidated Annual Report: a unified narrative presenting fund-wise performance, cross-cutting themes, and strategic value of the Funds in enabling concessional finance across the Bank’s portfolio.
- Visual Design and Infographics to distill complex data into accessible graphics, charts, and visuals for enhanced reader engagement.
- Forward-looking Recommendations for reporting improvements, donor engagement, portfolio sustainability, and improved alignment with global goals.