Building on earlier APRs, the 2007 review examines completed projects with terminal evaluations submitted in fiscal year 2007 with a sharper focus on outcomes, sustainability, cofinancing, and monitoring systems.

The analysis draws on 41 projects totaling $199 million in GEF funding, assessing outcomes, sustainability, cofinancing, project delays, monitoring and evaluation (M&E), and the quality of terminal evaluation reports.

The evaluation finds that nearly three-quarters of projects achieved satisfactory outcomes, close to the 75 percent portfolio target, and that about three-fourths of cofinancing commitments were realized.

Capacity development components were generally positive, although some gains proved difficult to sustain. It also finds that project performance is strongly associated with the quality of M&E systems at entry and during implementation, underscoring the importance of robust monitoring frameworks. The overall quality of terminal evaluations has improved, but further progress is needed in reporting on M&E arrangements and financial information. The report also notes that while GEF Agencies are taking steps to address greenhouse gas emissions from internal operations, most remain at early stages of developing comprehensive management strategies.

Recommendations highlight the need to strengthen tracking of project completion, improve financial reporting, and continue refining guidance for evaluation processes.