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Lesson
A thorough assessment of the financial management capacity of executing agencies (EAs) is required to mitigate the risk of financial issues disrupting project implementation or leading to non-compliance to loan covenants/grant agreements. The Agency for Land Reclamation and Irrigation (ALRI), the EA for 2 of this project’s 4 intended outputs, did not monitor the commercial bank that held the advance accounts for said outputs. When the bank became insolvent, part of the advance accounts was frozen, and was refunded only after government intervention albeit with significant delay.

Project Number: 45389-001, 45389-002, 45389-003, 45389-004
Project Name: Building Climate Resilience in the Pyanj River Basin
Report Date:
Lesson
Late allocation of provincial counterpart funds is a persistent issue requiring attention from the central government of Viet Nam. Late allocation of counterpart funding slowed down implementation progress and exposed subprojects to additional cost increases through inflation. The central government should consider providing incentives for timely provincial allocations. It could also explore alternative funding arrangements to address the issue.

Project Number: 37097-013
Project Name: Integrated Rural Development Sector Project in the Central Provinces
Report Date: