ADB may need to consider greater flexibility to allow an extension of the availability period of loans under the multitranche financing facility, where deemed appropriate. Because of various delays, the investment program's availability period was extended to 10 years and ended on 24 November 2020. Government requests to extend the availability beyond 2020 were declined by ADB. This introduced two complications: (i) an HPP (Ramazon) could not be retendered because of insufficient time, resulting in nearly half of the tranche 2 loans ($36.6 million) being canceled; and (ii) subprojects under tranche 1 and tranche 2 continued to be implemented into 2022, when the EA experienced financing difficulties and after ADB monitoring had ceased.
Town Electrification Investment Program (Multitranche Financing Facility and Tranche 2)