Maldives: Postsecondary Education Development Project [Loan 1637-MLD]
sector: Education | country: Maldives
The key lesson relates to the core of financing function, i.e., sound cost estimates and adequate financing of an investible project. As the project completion report (PCR) states ‘ADB needs to take a more conservative approach in project design and should not include cofinancing for project scoping and costing. In the event of a cofinancier’s withdrawal from the project, the related funding should have been covered by ADB ‘ ADB should have been more firm about the project implementation arrangements.