Most M&E challenges, such as a lack of sufficient investment and capacities, are not specific to CVA. But those that are relate primarily to monitoring outcomes for unrestricted transfers. The flexibility of cash transfers can make it difficult to determine appropriate outcome indicators, as they may involve a combination of sector-specific and cross-cutting indicators. At the same time, there are limitations on gathering accurate data on how cash transfers are spent.

Grand Bargain signatories have committed to ensuring relevant M&E mechanisms are in place for cash, and increasing understanding of the costs, benefits, impacts and risks of cash relative to other modalities. Building on this, the GB cash workstream has action points including the development of common outcome indicators for multipurpose cash, and metrics for analysing value for money. Systematic value for money analysis has been limited by factors including a lack of agreed upon approaches, the need for quality outcome data, and the intensive nature of the analysis.

Current priorities

As part of the Grand Bargain cash commitments, CaLP has co-led (with USAID and CRS) the development of Multipurpose Cash Outcome Indicators.The draft for testing is currently available in English, French and Spanish via the CaLP library.