This document summarizes the key elements of the work plan and budget of the Independent Evaluation Unit (IEU) for 2022. It contains: (i) an overview of the IEU's deliverables during 2021; (ii) key elements of the IEU’s annual 2022 work plan and budget; and (iii) an update of the IEU’s rolling three-year work plan. 

The rapid assessment of the progress of the GCF's Updated Strategic Plan is an IEU deliverable contributing to the Second Performance Review (SPR) of the GCF. It independently reviews the progress to date and provides projections on the delivery of the GCF strategic vision until the end of the GCF-1 programming period. The assessment is conducted to answer the questions

- How far have we come?

- Where is there still more to be done?

This evaluation assesses whether the GCF’s approach and investments have been relevant and effective in reducing the vulnerability of local communities in LDCs and of their livelihoods to the effects of climate change, and whether these impacts are likely to be sustained. It examines how and to what extent the GCF’s approach, mechanisms and financial modalities respond to the conditions facing LDCs. Moreover, the evaluation assesses the key enabling conditions for the GCF to support a paradigm shift towards low emission and climate resilient development pathways in LDCs.