Infrastructure Development

ADB should have restructured its technical assistance (TA) loan much earlier, taking into account two events: (i) the approval of new multitranche financing facilities (MFFs) with project-preparation components that duplicated some of the TA's work, and (ii) dramatic changes in the economy that made some subprojects irrelevant and/or unfundable. The review missions reported on consultant services and their performance, and they did propose a major restructuring of the TA over time. If the restructuring had been done earlier and more extensively, however, all concerned would have saved time and money. The important lesson here is that one must take changing circumstances into account.