Regions and Countries

	Table of Contents
p. 4 of 5 BACK | NEXT I. Country Strategy II. Current Development Trends and Issues III. Implementation of the Country Strategy and Program IV. Portfolio Management Issues V. Country Performance and Lending Level

Country Strategy and Program Update 2005–2006: Kiribati

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IV. Portfolio Management Issues

A. Portfolio Performance

36. Six ADB loans totaling US$14.0 million and 33 TAs totaling US$10.61 million have been provided to Kiribati since it joined ADB in 1974. One loan for US$10.2 million and five TAs of US$2.8 million were active at the end of 2003. In 2003, the only active loan, the SAPHE Project, approved in December 1998, had made significant progress in implementation and is fully satisfactory in achievement of development objectives. Implementation of all active TAs is also satisfactory.

37. Overall, Kiribati performance in 2003 was better than the ADB-wide average. The contract awards totaled US$0.6 million, bringing the cumulative figure to US$7.2 million. In 2003, the contract award/commitment ratio reached 18.9%, against ADB's average of 17.3%. Actual contract awards totaled US$0.6 million or 144.3% of the projection in 2003 compared with 60.4% of the projection for 2002. Disbursements during the year totaled US$2.4 million, bringing cumulative disbursements to US$5.7 million. The disbursement ratio was 37.9%, against the ADB-wide average of 20.2%. Actual disbursement was US$2.4 million or 186.5% of the projection in 2003, compared with 54.1% of the projection for 2002.

B. Performance Monitoring and Evaluation

38. The main issue for the institutional development assistance is the limited absorptive capacity of the country and the consequent lack of counterpart staff. Economic and technical skills are not the dominant specializations. Capacity building has therefore to start, and to be sustained, at a basic level. ADB review missions and the ADB-financed institutional development assistance on poverty reduction strategies are assisting the Government in monitoring portfolio performance as well as the achievement of objectives specified in the country strategy and program update, the NDS, and the budget.

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