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Laos performs well in portfolio implementation, says ABD
The Asian Development Bank has said that last year, the Lao PDR performed well in terms of portfolio implementation with 106 per cent achievement in contract awards and 98 per cent achievement in disbursement against the projections in 2010.
The good performance has in part led ADB to allocate to Laos USD 152 million of its Asian Development Fund for 2011-2012, an increase of USD 37 million compared to the allocation for 2009-2010 fiscal year, according to ADB Country Director Chong Chi Nai. However, Director of International Cooperation, Ministry of Investment and Planning, Mr. Somchit Inthamit, said that some issues related to delays in recruitment of consultants, awarding of contracts and submission of audited project accounts were showing the symptoms of poor project readiness.
The ADB has committed to further providing training for both executing agency staff through conducting project implementation seminars and organising the so-called procurement clinics to discuss and resolve project-specific procurement issues starting in March 2011.
The ADB has launched a new streamlined project performance rating early this year. The new rating system is based on five performance criteria: technical, contract awards/commitments, disbursements, quality and timeliness of audited project accounts and safeguards compliance.
The Government and ADB representatives met last Friday in Vientiane to review the 2010s performance of the Lao PDR portfolio financed by the ADB.
Co-chaired by Director of International Cooperation, Ministry of Investment and Planning, Somchit Inthamit, and ADB Country Director Chong Chi Nai, the meeting focused their discussion on issues related to project implementation progress including contract awards and disbursement, grant negotiations and declaration of grant effectiveness.
The regular quarterly portfolio review meeting between the government and the ADB is crucial to monitor project implementation progress and to agree on measures to achieve the target, said Chong Chi Nai.
Lao News Agency
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