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Lesson
A consolidated annual project financial statement ((APFS) needs to be required from projects with more than one component, and this should be included in the project administration manual and monitored closely for compliance. Submission of the consolidated APFSs for the first 2 fiscal years was delayed because of time lag in consolidating the reports on the two components.

Project Number: 49094-001
Project Name: Railway Rolling Stock Project
Report Date:
Lesson
Including ADB financial management staff in project implementation teams will facilitate compliance to ADB financial reporting requirements. the first two annual audited project financial statements was delayed in the absence of complete information. ADB’s financial management staff should have been part of the project implementation team from the inception stage to review and monitor project financial performance and provide timely advice.

Project Number: 45084-002
Project Name: Coastal Climate-Resilient Infrastructure Project
Report Date: