Countries and Regions

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p. 4 of 6 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 Levels Appendixes

Country Strategy and Program Update 2005-2006: Vanuatu

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IV. Portfolio Management Issues

A. Portfolio Performance

32. By 31 December 2003, ADB had extended 9 loans and 51 TAs totaling $51.25 million and $13.665 million, respectively. The most recent loan, for cyclone emergency rehabilitation approved in April 1999 for $2.00 million, was successfully completed in December 2000. Vanuatu has no active loans at present. Of the nine loans extended, five have been for infrastructure rehabilitation, two for development finance, and one each for agriculture extension and the CRP. The outstanding balance on ADB loans represents the majority of Vanuatu’s external debt. Portfolio indicators for loans are shown in Appendix 2, Tables A2.7–A2.10. Of the 51 TAs (including 11 project preparatory TAs), more than 40% has been for institutional support and capacity building. As of 31 December 2003, 10 TAs were active, 7 of which were ongoing and 3 completed but not financially closed. All but two of the active TAs have required extended completion dates averaging over 30 months. Despite the implementation delays, all completed TAs have been rated as successful.

B. Performance Monitoring and Evaluation

33. While many executing agencies lack the necessary skills for effective monitoring of project implementation, project management consultants and in-house advisors have largely provided these functions. The presence of a regional mission has also contributed significantly, allowing prompt intervention in problem solving through regular hands-on involvement. Provision has also been made through loans and TAs for training of counterpart staff both in ADB policies and procedures and in sector-related developments.

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