This report presents the main findings of an evaluation of the 2014/15 Farm Input Subsidy Programme (FISP). The main objective of the evaluation is to assess the impact and implementation of the FISP in order to provide information regarding: (1) the overall value for money of investments in the FISP as regards its contributions to agricultural production, food security, and farmers’ and consumers’ welfare (2) the means by which future implementation of the FISP might be changed in order to improve its effectiveness and efficiency