IFAD started its operations in Mali in 1982 since when it has financed 12 projects. This country programme evaluation is the second carried out in the country and it covers the period 2007-2012. Despite the adverse situation experienced in Mali due to conflicts in the north since independence and a coup d’etat in March 2012, the cooperation programme between the Government of Mali and IFAD has generally improved since the first country programme evaluation (2007). The most promising aspects include the adaptation of projects to decentralization mechanisms and institution-building among local communities. In addition, interventions with regard to rural finance have been refocused in line with principles of sustainability and more fully mainstreamed into national strategies. In terms of efficiency and sustainability, the results are mixed and have been affected not only by lower rates of achievement of physical targets than anticipated and significant increases in implementation and management costs, but also by the conflicts in northern regions.