To assist the Economic Development Boardof Madagascar (EDBM) in setting-up such a monitoring andevaluation (M&E) system, this report defines the goalsand impacts and objectives and outcomes of the EDBMinterventions, proposes a list of key outcome and impactindicators to monitor the investment climate and itsresultant impacts, presents a (draft) comprehensive logicalframework (logframe) with the above-mentioned indicators andtheir potential sources of verifications, presents some ofthe tools to monitor and evaluate EDBM's success incontributing to PSD and IC reforms through policy advocacy,and discusses some of the key next steps in setting-upEDBM's M&E system. The report is organized asfollows. Section 2 discusses the M&E framework for EDBM.Section 3 presents a reform tracking matrix to track thereforms facilitated by EDBM and their intended results.Section 4 concludes the report by highlighting some of thekey next steps. A draft logframe is presented in Annex 1.Annex 2 provides the terms of reference (ToR) forEDBM's M&E system design. Annex 3 provides the listof stakeholders consulted for this report.