UNCTAD’s Division on Investment and Enterprise (DIAE) is vested with the substantive responsibility for subprogramme 2. The objective of subprogramme 2 is to advance inclusive growth and sustainable development through investment and enterprise development for productive capacity-building, economic diversification and job creation. At the seventy-eighth session of the Working Party on the Strategic Framework and Programme Budget, member States requested, inter alia, an independent evaluation of subprogramme 2, on investment and enterprise. The evaluation used a theory-based approach to assess the subprogramme’s overall contribution to UNCTAD mandates against the criteria of relevance, efficiency, effectiveness, partnerships and coherence, sustainability and impact, and the mainstreaming of human rights, gender, inclusion and equity. The evaluation triangulated all findings using multiple data sources and analytical methods including document reviews, interviews, focus group discussions, archival data, anecdotal evidence and a survey of key informants. It utilized a combination of primary and secondary sources of data. Primary data sources included, among others, interviews and focus group discussions with key stakeholders and an online survey. Secondary data sources included documents and material provided by UNCTAD. All relevant documents, virtual key informant interviews and archival data sources (e.g. website traffic and downloads) were collected, analysed and synthesized. More than 305 documents were reviewed.