Banyan Global conducted an institutional evaluation of Micro Development Fund and Microfins, two Serbian partners of the International Labour Organization (ILO)–United Nations High Commissioner for Refugees (UNHCR) that provide financial services. We examined such issues as governance, management, human resource development, clients and markets, operational systems and procedures, financial management, and institutional alliances. Banyan Global also helped guide UNHCR’s decision-making process in handing over funds previously allocated to these partners.