Guidelines for Preparing Performance Evaluation Reports on Nonsovereign Operations

Institutional Document | February 2014

The Asian Development Bank (ADB) conducts both sovereign and nonsovereign operations (NSOs). An NSO is defined as an ADB-financed transaction in the form of a guarantee, loan, or equity investment with a subsovereign, state-owned enterprise, other public-private entity, or private sector entity as obligor or investee, normally without direct sovereign indemnity. These guidelines have been prepared to facilitate evaluations of NSOs by the Independent Evaluation Department (IED), which is independent of Management and reports directly to ADB's Board of Directors.


  • Purpose, Process, and Evaluation Dissemination
  • Scope and Content of Nonsovereign PPERs
  • Appendixes