DBJ - Since formation in April 2000, Bank performed no evaluation of organisation's efforts to achieve its objectives

Auditor General's Findings

The performance audit was conducted to determine if DBJ is fulfilling its mandate to foster economic growth and development in the Jamaican economy.
Since inception in April 2000, DBJ has not assessed the extent to which it is achieving its intended outcome of facilitating economic development. DBJ determined economic benefit through its review and assessment of each loan application to evaluate the proposed project’s ability to create jobs, generate foreign exchange, stimulate foreign investments and utilize local produce. However, in the absence of robust post evaluation of the economic performance of the projects, we were challenged to determine whether DBJ is truly fulfilling its mandate and the extent to which the country is benefitting economically from loans granted by DBJ, which amounted to $17.96 billion over the period 2009-10 to 2014-15.

Permanent Secretary (current): Audrey Sewell

Breach Category: Governance

Permanent Secretary (at breach):

Breach Type: Absence of the Entity’s Performance Evaluation

Status: Progressing

Last Assessed: May 4, 2018

Year Reported: 2016

Year Resolved:

Recommendation

DBJ should develop a monitoring strategy to periodically assess the impact of its loan disbursements on economic growth and development in Jamaica. The strategy should include a follow-up mechanism to determine the extent to which the proposed economic benefits of the projects were actually realized.

JAMP Update

DBJ’s 2018 Response: Requested and received a copy of the framework developed by the Monitoring and Evaluation Specialist in November 2016 to assist the Bank with effective monitoring of the performance of projects the Bank supports. A Monitoring and Evaluation Manager has been engaged to ensure the actual implementation of the plan.
Note: JAMP has followed up with a request for the most recent M&E report prepared for the Board by the Manager.

DBJ’s 2016 Response: The DBJ has since [the AG report] created the Corporate Objective: Demonstrating Development Impact in our Corporate Plan for 2016/17 to 2019/20 (provided to JAMP) indicating our commitment to create the infrastructure necessary to measure the economic impact of the Bank’s interventions on the economy of Jamaica.
In 2016, the Bank engaged a Monitoring & Evaluation Specialist to review the Bank’s current systems and develop a robust Monitoring & Evaluation Framework which will assist the Bank to effectively monitor the performance of the projects we support.

New Access to Information sent on August 10, 2020 for update