Countries and Regions

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p. 8 of 9 BACK | NEXT I. Development Situation II. Implementation of the Country Strategy and Program III. Portfolio Management Issues IV. Country Performance and Lending Level

Country Strategy and Program Update 2002-2004: Cook Islands

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III. Portofolio Management Issues

A. Portfolio Performance Implementation

41. ADB has financed 11 loan projects in the Cook Islands. Project completion reports have been prepared for nine of them (another project completion report is in preparation), and two projects have been postevaluated and rated partly successful. These other projects, were rated as generally successful, one was partly successful, one was unsuccessful, and two were not rated. Lessons learned emphasize the need for capacity building and familiarizing project management personnel with ADB's procedures, in the light of public service downsizing and personnel movements. Two projects also highlighted the need for improved community participation in project design and implementation.

42. The current loan portfolio is limited to two small loans (Appendix 3). The scope of the Third Cook Islands Development Bank (CIDB) Project (Loan 1380-COO[SF]) was changed to assist the merger of the Savings Bank and the CIDB. The Education Development Project loan (Loan 1588-COO[SF]) has been fully disbursed and will be closed. The recently approved TA 3554-COO Review of Pension (Superannuation) and Insurance Schemes will be completed in 2001. TA 3085-COO Urban Infrastructure Project, which prepared feasibility studies for the Waste Management Project and for the Water Supply and Sewerage Project, is in its final phase; assistance is being given in public consultation and institutional development. Public objections that delayed the. processing of the Waste Management Project for Rarotonga have since been resolved. The results of TA 3509-COO Preparing an Economic Report are expected to be available in April 2001, and will point the way to a future development strategy in the Cook Islands. The TA will be concluded by mid-2001.

43. The overall performance of ADB's portfolio in the Cook Islands during the last three years has been good. The Government has demonstrated a high level of ownership of ADB-financed projects, and commitment to policy and institutional reforms that are associated with ADB lending operations.

B. Counterpart Funding

44. During the past three years, budgetary allocations have enabled the Government to commit counterpart funds as and when required. Budgetary allocations are planned on the basis of ADB's updated CSP, ensuring that counterpart funding will be available when required.

C. Monitoring and Evaluation

45. ADB's project monitoring and evaluation (M & E) techniques are being introduced in the Cook Islands, in step with their development within ADB. M & E carried out on ADB-financed projects indicated good progress in project implementation.

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