UNHCR established a Graduation Programme pilot in Egypt in 2014, with the overarching objective of supporting refugees in urban areas to sustainably improve their livelihoods and ultimately become self-reliant. The first of their kind, the pilots in both Cairo with Catholic Relief Services (CRS) and Alexandria with Caritas presented an opportunity to adapt a proven methodology to the refugee context in order to better respond to protection needs. This mid-term evaluation of the UNHCR Egypt Graduation Programme presents findings in three key areas: impact, process/performance and project monitoring activities. The report provides evidence-based recommendations for UNHCR and its partners on the ground to continually improve the implementation and monitoring of the Graduation Programme and thereby increase its impact.