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Publications from the EIB-GDN program

Image: SOKO project, Kenya


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The EIB-GDN Program was designed as an innovative model of social development through social involvement. The program directly promoted development by producing knowledge for informing large private investment decision making, and encouraged “deep development” by building the capacity to produce that knowledge locally, through a process of learning-by-doing. The engagement created an impact in the advisory services space by offering an alternative to commercial models. The unique value proposition of this alternative model has been to provide impact investment advice to clients that is customized, contextual, and methodologically cutting-edge, by embedding academic and subject matter experts within client operations.

With active involvement from a world-renowned group of advisors and the team in GDN, a book titled, 'Measuring Impacts - The Experience of the EIB-GDN program' and three additional volumes containing studies from three cycles of the the EIB-GDN program are now ready. The studies use primary data and indepth analyses to show how the European Investment Bank's investments are impacting private sector projects in Africa. The lessons learned will help to inform the Bank's contribution to sustainable and inclusive development.


Book | Measuring Impacts -- The Experience of the EIB-GDN Program

Authors François Bourguignon (Emeritus Professor at the Paris School of Economics and École des hautes études en sciences sociales, and former Chief Economist and Senior Vice President at the World Bank), Shahrokh Fardoust (Research Professor, Global Research Institute, College of William and Mary, United States), Pierre Jacquet (President of the Global Development Network, member of the French Cercle des Economistes), Emmanuel Jimenez (Senior Fellow, International Initiative for Impact Evaluation 3ie), Arianna Legovini (Head of Development Impact Evaluation at the World Bank), Matt Ripley (The Good Economy), Alexandros Sarris (Emeritus Professor of Economics, National and Kapodistrian University of Athens, Greece), Claudio Cali (Associate Economist, EIB), Nina Fenton (Senior Economist, EIB) and Debora Revoltella (Director of the Economics Department, EIB) have contributed to this joint publication of the EIB Economics Department and the Global Development Network (GDN).

The book discusses lessons learnt and opportunities for future work of the three-year partnership between GDN and the European Investment Bank. In a foreword, the President of the European Investment Bank, Werner Hoyer writes, "The EIB will continue to invest in understanding our development impact as we work to build back better in the wake of the COVID-19 crisis, building on the lessons we have learnt from the EIB-GDN program." Download the full book.


The Impact of Private Sector Projects in Africa: Studies from the EIB-GDN Program (Cycle 1)


  • M-BIRR: Mobile banking in Ethiopia
  • poa! Internet: Community internet in low-income areas of Kenya
  • Première Agence de Microfinance: Promoting financial inclusion in Côte d’Ivoire
  • Irrigation technology adoption and microfinance in rural Benin: RENACA’s agricultural loan program

Download all the studies from Cycle 1 here  


The Impact of Private Sector Projects in Africa: Studies from the EIB-GDN Program (Cycle 2)


  • Understanding the sustained impact of SOKO on artisans in Kenya: Empirical evidence from Kibera, Kenya
  • Provision of Quality and Affordable Maternal Health Care in Developing Countries: A Case Study of Nest in Senegal 
  • Microfinance Loans, Women’s Economic Empowerment, and Poverty: A Case Study of Baobab Microfinance Company
  • The Impact of Customer Relationship Management Software on Firm Performance in Kenya
  • Access to Finance and Growth‐Oriented Investments in Ethiopia’s Manufacturing Sector

Download all the studies from Cycle 2 here 


The Impact of Private Sector Projects in Africa: Studies from the EIB-GDN Program (Cycle 3)


Download all the studies from Cycle 3 here.



Contact Francesco Obino for further information.