This document summarizes the key elements of the work plan and budget of the Independent Evaluation Unit (IEU) for 2023. It contains: (1) an overview of the IEU's deliverables during 2022; (ii) key elements of the IEU’s annual 2023 work plan and budget; and (iii) an update of the IEU’s three-year rolling work plan. The Board is requested to consider and approve a core budget of USD 6,934,303 for FY2023. A draft decision for the Board’s consideration is presented in Annex I.