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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
It is important to obtain accurate information during the design and appraisal stage to help facilitate growth forecasts of traffic volumes. Such information provides a solid groundwork to assess a transport project’s economic viability and efficiency and helps underpin its rationale, scope, and implementation timeframe. Greater consideration on the survey or collection of traffic data is crucial in enhancing the quality of project-level economic analysis

Project Number: 41629-013, 44425-013
Project Name: Bihar State Highways II Project
Report Date:
Lesson
Better estimation of generated traffic based on "with project” and “without project” traffic forecasts help avoid overestimation of vehicle operating cost savings and, hence, overestimation of economic internal rate of returns.

Project Number: 41629-013, 44425-013
Project Name: Bihar State Highways II Project
Report Date:
Lesson
The establishment of a project performance management system (PPMS), which was not covenanted in the grant agreement, could have provided a useful source of data on which to develop an economic analysis model; identify, quantify, and value economic benefits; and assess the efficiency of the project. Because of the emergency nature of the project, baseline data could be collected during project implementation to enable data comparison after project completion.

Project Number: 52129-001
Project Name: Cyclone Gita Recovery Project
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
Appropriate contract packaging, adequate consideration of all the factors that could hinder works execution, and the incorporation in project design and implementation of risk mitigation measures are crucial to ensuring the timely completion of projects.

Project Number: 40423-053
Project Name: Rural Connectivity Investment Program - Tranche 3 and MFF
Report Date: