ICA Annual Report 2011 - The Infrastructure Consortium for Africa

ICA Annual Report 2011
The third question targeted measures that address the issues/risks identified in the first question. The results
obtained from the returned questionnaires are outlined below:
Measures that address issues/risks
Factor risks in facility agreement:
The majority of factors leading to delays in project disbursements should be
addressed in the facility agreement, mainly in the form of covenants, representations
and warranties, conditional precedents and definitions of events of default
Setting aside contingency funds.
Intensify monitoring:
Intensify supervision with technical and financial audits
Finance of PMU or consultant for supervision; and
Implement a monitoring team that follows regularly and closely the disbursement
period and updates financial projections and results.
Implement a monitoring team that follows regularly and closely follows the
disbursement period and updates financial projections and results;
Improve project planning
and design:
Reducing projects’ complexity and streamlining procedures
Anticipation of environmental and social risks before Board approval
Improving projects’ results-orientation and analytical underpinnings
Focusing on readiness for implementation
Improving the quality of regional portfolio; and
Using a front-loading approach where various procurement strings run in parallel
would contribute towards arresting overly long procurement cycles.
Sebastian Mogos-Lindemann, November 2012
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