11 ADB-Funded Projects Announced as Best Project 2016 | Lao Tribune

11 ADB-Funded Projects Announced as Best Project 2016

11 projects of 20 projects financed by the Asian Development Bank (ADB) have been announced as 2016 Best Project.

An award ceremony for the projects was held in Vientiane Capital on Dec 20 in the presence of Vice Minister of Planning and Investment Kikeo Chanthaboury and Country Director of ADB Laos Resident Mission Yasushi Negishi.

Since 2008, the Ministry of Planning and Investment, in collaboration with other government agencies and ADB, has conducted this annual awards ceremony.

The ceremony recognized outstanding project teams, and their efforts to ensure that ADB financed projects achieve their expected outputs and outcomes, and positive impacts which contribute to achieving the 8th National Socio-economic Development Plan.

This year, outstanding projects were classified in two categories.

The first award was for achieving project readiness. The selection criteria included the stage of project preparation and the status of achievement of each preparation item by due date.

The second award recognized good practices for project implementation. The selection criteria for this award included technical performance, contract awards and disbursements, timely submission of quality audit reports, and compliance with safeguard requirements.

The selection followed a rigorous and transparent process. EAs submitted self evaluation on their projects to the Ministry of Planning and Investment and ADB for validation and endorsement.

ADB consolidated the evaluation and drafted a ranking list. The draft ranking list was shared with MPl for comments and endorsement.

There are in total 11 nominated projects out of 20 projects. As you can see, the final selection was a challenging task, as our projects are all performing well, said Yasushi.

Source: Lao News Agency