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 2023; (ii) key elements of the IEU’s annual 2024 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 budget of 7,649,286 US Dollars for FY2024. A draft decision for the Board’s consideration is presented in Annex I.