In 2007 and 2008 the German development bank KfW, the European Investment Bank (EIB) and the evaluation departments of Agence Française de Développement (AFD) carried out an ex post evaluation of the Manantali dam project and related investments made in Senegal, Mauritania and Mali. To that end, the three organisations agreed on a common evaluation format, in line with the criteria laid down by the Organisation for Economic Co-operation and Development's Development Assistance Committee (DAC/OECD). This report summarises the conclusions of that exercise.