The ECWG is examining the costs and cost-effectiveness of India’s National Rural Livelihoods Mission in Bihar, implemented under Jeevika – the Bihar Rural Livelihoods Project. We combined the findings of an impact evaluation of this program in Bihar with audit reports and program outreach data from the World Bank and the Bihar Rural Livelihoods Promotion Society. Despite limited evidence for positive effects on women’s empowerment and asset ownership, we found preliminary evidence for a positive return on investment.  Our preliminary analysis suggests that the positive return on investment was caused by reductions in interest rates charged by informal money lenders caused by the program and a reduction in the costs per program participant when the program moved to scale. We will now conduct more detailed analyses using primary cost data collection and combining the cost data with an ongoing impact evaluation of the NRLM in Bihar.