Upon completion of this course, participants will be able to:

• Apply global **development impact methodologies** (e.g., MDB joint-methodologies, IRIS+) to define and track relevant outcomes.
• Design a comprehensive **Impact Management System (IMS)** that integrates impact metrics into the entire project life cycle (origination to exit).
• Develop protocols for establishing **additionality and attribution** to clearly link the DFI's intervention to the resulting developmental impact.
• Formulate a high-quality, transparent **Impact Report** compliant with international best practices (e.g., Operating Principles for Impact Management).
• Establish a robust **verification and assurance framework** for impact data to meet internal audit and external stakeholder scrutiny.
• Master the use of standardized metrics aligned with the **United Nations Sustainable Development Goals (SDGs)** and national priorities.
• Analyze the trade-offs and potential conflicts between maximizing financial return and achieving optimal developmental impact.
• Integrate **ESG (Environmental, Social, Governance)** risks and outcomes into the core impact measurement framework.

• Impact Measurement and Reporting Specialists at DFIs and MDBs.
• Investment Officers and Portfolio Managers at Development Finance Institutions.
• Internal Auditors and Assurance Providers focused on Non-Financial Reporting.
• Government Representatives and Oversight Bodies for DFIs.
• Monitoring & Evaluation (M&E) and Research Teams.
• Senior Management responsible for Mandate Fulfillment and Investor Relations.

• Impact Indicator Definition and Theory of Change Design Workshops
• Case Studies on MDB Joint-Methodologies and Impact Attribution
• Group Activities on Designing a Project-Level Impact Monitoring and Verification Protocol
• Expert Lectures on the Operating Principles for Impact Management and IRIS+ Standards
• Workshops on Drafting the External DFI Impact Report and Assurance Statements
• Individual Exercises on Calculating Additionality and Assessing Impact Risk

Unit 1: The Mandate and Global Standards for Impact

• The mandate of DFIs: balancing financial return with positive developmental impact.
• Review of key global standards: **Operating Principles for Impact Management** and the **MDB Joint-Methodologies**.
• Mapping DFI activities to the **UN Sustainable Development Goals (SDGs)** and national development plans.
• Defining core concepts: additionality, attribution, unintended consequences, and impact pathway.
• The increasing demand for rigor and transparency from concessional funders and stakeholders.

Unit 2: Designing the Impact Management System (IMS)

• Integrating impact metrics into the **origination and due diligence** process (ex-ante assessment).
• Developing a project-specific **Theory of Change** and impact model for each investment.
• Establishing protocols for continuous **monitoring and data collection** during the implementation phase.
• Designing the impact assessment for the project **exit/closure** (ex-post evaluation).
• The role of specialized IT systems and data dashboards for impact tracking and portfolio aggregation.

Unit 3: Measurement Methodologies and Attribution

• Techniques for selecting appropriate **impact indicators** (output, outcome, impact) and performance targets.
• Methodologies for establishing **attribution** (what the DFI is truly responsible for) vs. contribution.
• Protocols for collecting high-quality, auditable impact data (e.g., surveys, site visits, administrative data).
• Using **counterfactual analysis and evaluation** (e.g., randomized controlled trials) to establish additionality.
• Managing the challenge of data standardization and aggregation across diverse projects and sectors.

Unit 4: Verification, Assurance, and Reporting

• Developing an internal **impact data verification framework** to ensure data accuracy and reliability.
• Protocols for internal audit and external assurance (e.g., third-party verification) of the Impact Report.
• Structuring a high-quality **DFI Impact Report** for external stakeholders (e.g., format, content, narrative).
• Compliance requirements for reporting to various stakeholders (e.g., government, MDBs, private investors).
• Communicating impact results effectively to manage stakeholder expectations and secure future funding.

Unit 5: Impact-Risk Integration and Governance

• Integrating **Impact Risk** (the risk that the intended impact is not achieved) into the DFI's overall Risk Appetite Statement.
• The role of the Board's Development Impact Committee in overseeing impact strategy and performance.
• Protocols for managing the **trade-offs** between financial returns, risk appetite, and maximum impact.
• Integrating **ESG risks and outcomes** as a core component of the impact assessment.
• Future trends in impact measurement: use of big data, AI, and remote sensing for real-time monitoring.