Tuesday, November 15, 2011

ADB awards best projects

The Asian Development Bank (ADB) has awarded three outstanding projects today for their excellent performance in helping improve the lives of rural poor.
They have been providing safe water supply and sanitation and income generating opportunities and bringing about sustainable urban development in different parts of the country.
Finance secretary Krishna Hari Baskota and Nepal Country Director of ADB Barry Hitchcock jointly gave Outstanding Project Management Team Award to 'Community Livestock Development Project', 'Community based Water Supply and Sanitation Sector' and 'Urban and Environmental Improvement Project'.
Speaking on the occasion, Baskota said that there has been continuous progress in portfolio performance of ADB assisted programmes and projects in past years. He also lauded the ADB's new and strict criteria for project performance monitoring and rating, focusing on procurement, disbursement, safe guard, financial management and technical issues.
"We need to further systematise the project implementation and portfolio management," he added.
Similarly, Hitchcock said that the awards have been presented recognising the projects' excellent performance. "We have to identify the key sectors and projects so that specific actions could be taken for a further portfolio performance improvement," he said, adding that the successful implementation of the projects has significantly contributed toward maximising ADB's overall contribution to helping reduce poverty in the country.
The projects have been instrumental in providing tremendous help in increasing per capita income and uplifting the life standard of people in the rural areas.
ADB that has increased is assistance to $36 billion (including loan, grants and non-sovereign loans covering eight sectors have been providing the awards to motivate and encourage project teams to improve their performance and get good results so as to help reduce poverty and promote development in the nation.
The current active portfolio amounts to about Rs $1.3 billion. "The 2011 contract award and disbursement targets of $246.5 million and $215.5 million respectively are the highest in the Nepal Resident Mission's history," Hitchcock added.

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