ADB's Project Cycle
Video | 12 September 2017
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How does the Asian Development Bank choose which projects to finance? How does it work with its partners to ensure its projects have maximum development impact? At what points in the project cycle are there opportunities for contractors and consultants to work with ADB?
So, you want to work with ADB? Either as a company or an individual consultant? There are many opportunities to work with us, through the hundreds of projects we finance in developing Asia.
Understanding how ADB’s Project Cycle works will help you in deciding how and when you can partner with us.
Let’s say a government wants to build a new road linking a growing town to a city. ADB alone, or together with other financing partners, makes an initial technical assessment of the project and then considers issues such as resettlement and the environmental impact of the road. ADB agrees the road will promote growth and development, and decides to finance it.
The next steps are negotiation of the loan or grant, followed by approval by ADB’s Board of Directors and the signing of the Project Agreement between ADB and the government.
At this stage, the government begins the project and starts to recruit consultants in accordance with ADB guidelines. Consultants work on engineering design, preparing bidding documents, procuring machinery and equipment, and in many other roles. Procurement on a large engineering project is substantial, providing work for many companies or contractors, who can deliver materials or specialized skills at a competitive price.
During the implementation phase of the project, an ADB team conducts reviews – often visiting the project site around twice a year. If a project has significant environmental or social issues, ADB will often require the borrower to submit regular Safeguard Monitoring Reports.
After the project is finished and the road built, ADB prepares a Project Completion Report based on a draft from the executing agency. The Project Completion Report evaluates the project for relevance, efficiency, effectiveness, and sustainability.
Following this, the Project Completion Report will be validated by the Independent Evaluation Department. Lessons learned from financing and implementing the project are then shared with ADB’s many development partners and with other developing member countries.
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