Multitranche Financing Facility Annual Report 2016

Abstract

The Asian Development Bank (ADB) introduced the multitranche financing facility (MFF) in 2005 as a new pilot lending modality. The MFF became a regular ADB lending modality in 2008 through the policy paper on Mainstreaming the Multitranche Financing Facility. The MFF policy paper requires ADB’s regional departments to prepare a consolidated annual report for all MFFs approved in each country to give the Board of Directors an opportunity to seek early clarification of the performance of each approved MFF. As required by the MFF policy paper, the Multitranche Financing Facility Annual Report, 2016 analyzes MFF performance in terms of (i) the progress made on physical and nonphysical investments, (ii) key implementation risks and issues with mitigative actions undertaken, (iii) the status of compliance with clients’ commitments to take or maintain certain undertakings over the term of the MFF, and (iv) key substantive changes to the MFF. The annual report focuses on the MFF performance ratings, and the annual portfolio performance report focuses on general quantitative and comparative analyses on the overall MFF portfolio performance. The information in this annual report is based on the annual MFF progress reports, which provide details on the status of each approved MFF and its individual tranches, prepared by ADB’s five regional departments. These progress reports include URLs to each of the project data sheets, which present progress toward outcomes and the delivery of outputs.