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Independent evaluation has changed from the beginnings of evaluation activities in ADB some 30 years ago. Initially, the focus of evaluation was on assessing whether implementation was consistent with the intentions reflected in the appraisal of a project, and the extent to which the project achieved the expected economic and social benefits. Independent evaluation now shapes decision making throughout the project cycle and in ADB as a whole. This presentation offers more than an account of the early steps: it describes recent accomplishments and looks to the future.