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Evaluation of the Dutch Good Growth Fund

Itad, together with SEO Economic Research, has been selected to perform the impact evaluation of the first 5-years of the Dutch Good Growth Fund.


The Dutch Ministry of Foreign Affairs has established the Dutch Good Growth Fund (DGGF), a revolving fund designed to help small and medium enterprises (SMEs) that wish to invest in developing countries and emerging markets.

The Dutch Good Growth Fund

DGGF is specifically designed for SMEs in low- and middle-income countries and in the Netherlands, which generally experience a lack of appropriate finance for development-related investments and trade.  It will ultimately fund SMEs located within the total of 68 developing countries, giving special attention to female entrepreneurs, young entrepreneurs and entrepreneurs located in fragile states. The DGGF comprises three tracks with a total budget of €700 million over a period of a total of 10 years:

Track 1 – Loans for investments by Dutch SMEs in the selected countries.

Track 2 – A ‘fund of funds’ providing finance to investment funds for local SMEs.

Track 3 – Export credit insurance and finance for development-relevant exports from Dutch SMEs to the selected countries.

Our role

Itad, together with partner the SEO Economic Research, has been selected to perform the impact evaluation of the first 5-years (2014-2019) of DGGF. The purpose of impact evaluations is to get an insight into the nature and magnitude of effects, direct and indirect, positive and negative, intended or unintended, that can be attributed to DGGF. Special attention will be given to attribution, additionality, and sustainability of the programme and its effects.


The overall objective of this evaluation is to make an assessment of the relevance, effectiveness, efficiency impact, and sustainability where relevant of the three DGGF tracks. This comprises economic as well as social impact which are also demonstrated in the indicators and theory of change. The Itad-SEO team are using a theory-based approach with a clear view on the Evaluation Questions, linked to a sound and comprehensive Theory of Change which is being tested based on practical and measurable indicators, using both quantitative and qualitative approaches.


Contact Ed Hedley ( if you would like to discuss this project.


Image © Uganda Photo Credit: Grace Elliott