Mid-Term Evaluation of the Hosting and Managing the Private Financing Advisory Network Programme (PFAN)

Honorata Fijalka
February 2020

With USD 345 million in roughly 30 clean-energy investments facilitated between 2016 and 2018, PFAN is an unparalleled Programme for facilitating investments in low-carbon, climate-resilient projects in emerging countries. The relevance of PFAN for achievement of the Paris Agreement goals is high. The Programme provides early-stage business plan consultancy and brokerage services in order for projects to become financially viable and reach financial closure. PFAN is technology-neutral, focused on market-transforming business models, and attracts financing for sound business models. 18% of the PFAN-supported projects in emerging countries have received financing during the acceleration time. This is a high success ratio as compared to the average 2% of incubated clean-energy businesses in industrialised countries obtaining financing during a comparable timespan, as reported for EU countries by InnoEnergy, a knowledge-innovation company.


The PFAN review entailed a backward component in assessing the programme, but also forward looking considerations. For the evaluation of the PFAN results in the past the review is based on the PFAN Programme document, quarterly reports, and other internal documents including the results framework.  As for the recommendations for the future, the evaluation was grounded on the outcomes of 18 interviews with PFAN’s stakeholders. A standardised questionnaire was used during the interviews.

According to the OECD DAC criteria and in line with the UNIDO TORs the following dimensions were covered:

•    relevance,

•    effectiveness (progress toward results),

•    efficiency,

•    risk matrix and sustainability,

•    results framework, logframe, Theory of Change,

•    competitive advantage,

•    strategic opportunities.


Photo by Amar Yashlaha on Unsplash

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