The purpose of this paper is to provide an assessment of the value for money (VfM) approaches embedded in ESPIGs, based on a desk review of documents from implementation grants that closed between 2016 and 2018. The paper will serve as part of the information base for the independent summative evaluation of GPE’s performance during the GPE 2020 strategic plan period and will inform GPE’s overall approach to VfM, which is currently being developed.