Continuing the annual series, the 2012 APR assesses completed projects while noting performance differences across regions and small island developing states.

The Annual Performance Report (APR) 2012, the ninth in the series, assessed the performance of GEF activities completed or under review between October 2011 and September 2012. Drawing on 78 terminal evaluation reports covering $289.5 million in GEF funding, the analysis also incorporated desk reviews, portfolio trend analysis, and verification by the evaluation offices of the United Nations Development Programme, the United Nations Environment Programme, and the World Bank.

The report finds that 87 percent of projects achieved outcomes in the satisfactory range, continuing an upward trend, although performance in African countries and small island developing states was lower than average.

Roughly two-thirds of projects had sustainability ratings of moderately likely or above, with financial risks remaining the most frequent barrier to long-term results. Project implementation and execution were generally satisfactory, but joint implementation often created coordination difficulties. Cofinancing commitments and realized cofinancing have grown, though monitoring and evaluation (M&E) design and implementation continue to underperform relative to other performance areas.

The report recommends that the GEF Council and Agencies strengthen M&E systems, sustain progress in mobilizing and realizing cofinancing, enhance the quality of supervision, and improve knowledge management to track progress toward impact.