Since its establishment in 1977, IFAD’s evaluation function has evolved signifi cantly. The function was carried out initially by the Monitoring and Evaluation Unit, which focused mostly on mid-term evaluations during project implementation, and over time its name and reporting lines were changed. The major transformation was the establishment of the independent evaluation function in 2003, approved by the Executive Board as part of IFAD’s fi rst Evaluation Policy, which created the Offi ce of Evaluation. Under the revised Evaluation Policy of 2011, the offi ce was re-named as the Independent Offi ce of Evaluation of IFAD (IOE).