Second Northern Greater Mekong Subregion Transport Network Improvement Project

Reduced counterpart funding and increased use of loan proceeds will facilitate timely implementation and project closure. This project was designed with substantial counterpart funding from governments. While demonstrating strong ownership, this affected implementation as the governments were unable to disburse the budget on time. Besides reducing the requirement for counterpart funding, sufficient documentation and incorporation of counterpart fund releases in the audited annual financial statements can help facilitate the financial closing of future projects.