The project performance assessment of the Uruguay Rural Project supported the setting up of local credit committees, fostered the creation of rural development platforms for public-private coordination and promoted the establishment of the Directorate General for Rural Development within the Ministry of Livestock, Agriculture and Fisheries. This was possible thanks to a combination of three key factors: the strong commitment of the Government, a sound project design and IFAD’s active participation in project supervision. However, this assessment identified some weaknesses in project monitoring and evaluation, a disjunction between the project cycle and the political cycle, and a limited success in taking advantage of IFAD’s worldwide experience in rural finance and technical assistance for rural poor clients.