The World Bank’s Independent Evaluation Group has just issued a “Focused Assessment” of the IDA Private Sector Window, looking at the PSW’s first five years of operation. The PSW, launched in 2018, uses $5.6 billion of World Bank IDA financing to subsidize IFC and MIGA investments in the private sector through mechanisms including local currency financing and first loss guarantees. Six years after launch, it is still hard to do a proper analysis of the Window’s development impact.