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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
Project financial auditing needs to be synchronized with the project Completion review timeline which requires disclosure of the report within 12 months of the financial closing of the loan account.

Project Number: 42378-017
Project Name: Power System Expansion and Efficiency Improvement Investment Program (Tranche 3)
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:
Lesson
The choice of a multifinancing facility (MFF)\ as the financing modality for a proposed investment needs to be adequately justified, with due consideration of the fulfillment of preconditions, scope of tranches, and the extent to which an MFF would generate potential value addition in terms of efficiency, portfolio performance, and development results as compared to standalone project-based loans.

Project Number: 37139-023
Project Name: Uttaranchal Power Sector Investment Program - Tranche 1
Report Date:
Lesson
Executing and implementing agencies (EAs/IAs) need to ensure that lead contractors strictly implement their contractual obligations to minimize undue pressures during implementation

Project Number: 40075-023, 40075-033, 40075-043
Project Name: National Trade Corridor Highway Investment Program (Tranche 3 and MFF)
Report Date:
Lesson
Ensuring that lead contractors strictly implement their contractual obligations will enable executing and implementing agencies (EAs/IAs) to minimize undue pressures during implementation.

Project Number: 40075-033
Project Name: National Trade Corridor Highway Investment Program, Tranche 2
Report Date:
Lesson
The role of nongovernment organizations (NGO) as advocates and community facilitators can be strengthened further through better performance assessments.

Project Number: 39405-013
Project Name: Dhaka Water Supply Sector Development Program
Report Date: