Evaluating Financial and Development Additionality in Blended Finance Operations

This paper explores the crucial concepts of financial and development additionality within blended finance operations. It clarifies various definitions of additionality and their relationship with evaluation terms such as impact and causality. The authors argue that additionality should be assessed both ex ante and ex post, with its presence influenced by institutional structures and the interplay of public and private interests. The paper analyses different approaches to assessing additionality, providing valuable insights for evaluators and blended finance actors, and contributing to a deeper understanding of how these operations contribute to development outcomes.