Postsecondary Education Development Project [Loan 1637-MLD]

The key lesson relates to the core of financing function, i.e., sound cost estimates and adequate financing of an investible project. As the PCR states “ADB needs to take a more conservative approach in project design and should not include cofinancing for project scoping and costing. In the event of a cofinancier’s withdrawal from the project, the related funding should have been covered by ADB…” ADB should have been more firm about the project implementation arrangements.