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Lesson
Regular scrutiny of the financial statements by ADB, coupled with periodic training of finance and project accounts staff, will help expedite financial closure. The financial management arrangements of the recipient and executing agency were robust. Even then, financial closure of the grant account took 1.15 years from the grant closing date because of delays in the liquidation of advances and additional time needed to resolve the statement of expenditures review findings. Financial closing was further exacerbated by COVID-19 in-country lockdown measures.

Project Number: 44240-014
Project Name: Thimphu Road Improvement Project
Report Date:
Lesson
Government resource mobilization efforts to raise supplementary funds to meet the cost of additional components outside the project scope demonstrate its ownership of and commitment to the project and increase the resulting benefits. Footpaths for the road widening works were not included in the original road design but were constructed by the Thimphu thromde using parallel financing. The footpaths enhanced the road design and improved road safety.

Project Number: 44240-014
Project Name: Thimphu Road Improvement Project
Report Date: