Regions and Countries

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

Country Strategy and Program Update 2005-2006: Republic of Marshall Islands

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IV. Portfolio Management Issues

A. Portfolio Performance and Performance Monitoring and Evaluation

29. RMI joined ADB in 1990. Since then it has received 12 loans totaling $78.1 million and 44 TAs totaling $17.15 million, of which two loans of $15.5 million and five TAs of $2.62 million were active as of end-2003. The February 2004 ADB country portfolio review mission expressed concern over the delay in recruitment of counterpart staff (EPPSO TA)²⁰ and full-time management staff (Loan 1948: Outer Island Transport Infrastructure and TA 4004, footnote 13), weak personnel management, and the lack of firm, central organization, management, and direction, including full sharing of information within the public service and between the public service and the community at large.

30. None of the RMI portfolio was in the at-risk category in 2003 (compared with the ADBwide average of 14.5%). No loans have potential problems. As such, RMI performance in 2003 was better than both the regional and ADB-wide average. In 2003, the contract award ratio reached 38.5%, higher than the ADB-wide average of 17.3%. Actual contract awards totaled $5.9 million, or 106% of projections in 2003, compared with 77.3% of the projection for 2002. In 2003, the disbursement ratio was 30.8%, higher than the ADB-wide average of 20.2%. Actual disbursement of $5.0 million, or 164% of the projection in 2003, compared favorably with 78.3% of the projection for 2002. Of the active TAs, all except one were performing satisfactorily. The 2002 and 2003 country performance assessments were rated as base/high.

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20. Footnote 11.

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