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p. 13 of 16 BACK | NEXT Executive Summary Current ADB Inspection Function Consultations on the Review of the ADB Inspection Function Proposal for a New ADB Accountability Mechanism: A Two-Step Approach of Consultation and Compliance Review Reasons for a New ADB Accountability Mechanism Introduction to the New ADB Accountability Mechanism Specific Issues Related to the New ADB Accountability Mechanism Policy under the New ADB Accountability Mechanism Consultation Phase Compliance Review Phase Resource Implications Status of Operations Manual Updating in the Context of the Inspection Policy Effective Date of the New ADB Accountability Mechanism Transition Arrangements Review of the ADB Accountability Mechanism Recommendation

ADB Accountability Mechanism : Proposal for a New ADB Accountability Mechanism: A Two-Step Approach of Consultation and Compliance Review

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I. Effective Date of the New ADB Accountability Mechanism

144. The effective date of the ADB accountability mechanism will be 30 days from the appointment of the SPF or CRP members, whichever occurs later. This period will be within 6 months from the date of Board approval of the accountability mechanism described in this paper, unless extended by the Board. Upon the effectiveness of the new ADB accountability mechanism, BIC will be restructured as BCRC with its operating procedures; the current Inspection Procedures will cease to apply; and the members of the roster will be informed of the termination of their services, subject to the need to satisfy the transition arrangements described in para. 146.

145. With respect to private sector projects, however, the new ADB accountability mechanism will apply to private sector operations (loan, guarantee, equity investment to the extent ADB's operational policies and operational procedures are covered by it, or TA grant) not for ongoing projects but for proposed projects that will have concept clearance by Management or by staff delegated by Management after Board approval of the ADB accountability mechanism, and such projects that will subsequently be approved and implemented.

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