This document summarizes the key elements of the Independent Evaluation Unit’s (IEU) work plan and budget of the for 2026-2028. It includes: (i) an overview of the IEU's deliverables in 2025, (ii) the IEU’s work plan and budget for 2026-2028, (iii) the IEU’s work plan and budget for 2026, and (iv) an update of the IEU’s three-year rolling objectives. The Board is requested to consider and approve a budget of USD 7,809,281 for FY2026, as well as the provisional budget of USD 7,756,963 and USD 7,780,029 for FY2027 and FY2028, respectively. A draft decision for the Board’s consideration is presented in annex I.