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Lesson
Customizing the terms of reference of auditors to project requirements and ensuring that they are properly oriented on these requirements are critical to promoting project compliance with ADB financial management procedures. There were gaps in complying with the financial management conditions of the loan agreement, including the need to timely submit audit reports and auditor’s management letters and opinions.

Project Number: 49419-002
Project Name: Solar Rooftop Investment Program - Tranche 1
Report Date:
Lesson
An alternatives analysis during the appraisal phase could help inform on identifying project alternatives in terms of feasibility of various technical options, and the scale as well as timing of investments. In the case of this program, there were competing views on Ulaanbaatar’s transport sector development. Such an analysis could help enhance buy-in among key stakeholders on the most appropriate alternative to pursue.

Project Number: 39256-023, 39256-024
Project Name: Urban Transport Development Investment Program (Multitranche Financing Facility andTranche 1)
Report Date:
Lesson
Better coordination and the Preparation of a consolidated project financial statement for projects being implemented by multiple agencies will facilitate the timely submission of annual project financial statements (APFSs) which in turn will help avoid delays in loan disbursements. In this program, the Preparation by the two EAs of separate annual project financial statements, both audited by an external auditor, created an unnecessary administrative overload for ADB.

Project Number: 35290–013, 35290–043
Project Name: North Eastern Region Capital Cities Development Investment Program (Tranche 3 and Multitranche Financing Facility)
Report Date: