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Lesson
Project readiness and advance contractung and retroactive financing facilitate successful and timely project completion. Project readiness—in terms of technical, financial, and safeguards readiness—was effectively undertaken, thereby facilitating smooth project implementation. The use of advance contracting and retroactive financing likewise helped enable the completion of all project activities by the original loan closing date.

Project Number: 47047-002
Project Name: Shandong Groundwater Protection Project
Report Date:
Lesson
Accurate cost estimates, including for contingencies, and effective utilization of loan savings are critical to the attainment of intended project results and timely financial closing. The actual contract price was lower than the amount estimated because of the inaccuracy of the engineering cost estimate and contingency estimates. Cost savings, however, were effectively utilized through minor changes in the project, further enhancing the achievement of project outcomes and outputs. Eligible expenses should be clarified early on, so as not to delay the project financial closing.

Project Number: 47047-002
Project Name: Shandong Groundwater Protection Project
Report Date:
Lesson
Structural and nonstructural interventions require cohesive and integrated approaches, necessitating long-term planning and consultative processes. For example under this project, safeguard readiness including securing design approval from pertinent agencies should have been pursued more effectively. Project readiness for physical works should be adequately considered in drawing up implementation schedules. Accurate and realistic cost estimates based on detailed technical design can reduce the risk of loan cancellations.

Project Number: 44037-014
Project Name: Shaanxi Weinan Luyang Integrated Saline Land Management Project
Report Date:
Lesson
Project costing at design stage should realiably estimate the costs of all civil and other engineering costs and provide allowance for foreign currency fluctuations. The actual cost of one irrigation scheme turned out some $10 million greater than estimated at approval. This resulted in significant revision to the subproject design. The revision also incorporated the appreciation in special drawing rights against the US dollar and the domestic and international inflation that pushed down the real value of project resources.

Project Number: 40190-013
Project Name: Greater Mekong Subregion Flood and Drought Risk Management and Mitigation Project 
Report Date: