Guided by AIIB's strategic goals and thematic priorities: sustainable infrastructure, cross country connectivity and catalyzing private finance. AIIB will screen project ideas and proposals from clients, partners and other stakeholders. The Bank will seek to achieve appropriate balance among borrowers, sectors, sovereign and non-sovereign projects. Projects that meet the preliminary screening criteria will be included in the rolling investment program.
(1) Procurement readiness (advance procurement actions for recruiting consultants and selecting contractors/suppliers);
(2) Implementation readiness (setting-up fully functional project implementation offices with qualified key staff). The designated project executing/implementation agency or agencies are responsible to implement the project by executing each project activity as agreed in the detailed project description document which provides overall project implementation guidance. Main purpose of achieving project readiness before the start of project implementation is to shorten the project implementation period and achieve the project impacts at the earliest.
Borrower’s Project Implementation Office is responsible to timely implement the project. If needed, Borrower may recruit consultants who provide specialized professional services in the areas such as detailed design, preparation of bidding documents and procurement of contractors for works, suppliers for the required goods, and capacity development through trainings in all the multidiscipline areas as needed. AIIB’s project team remains fully engaged during the project implementation from the stage of inception to completion. Being a lean organization, AIIB’s monitoring of project implementation and guidance to Borrower’s team are not limited to only periodic fielding of review missions that usually are twice a year. AIIB team also offers its advisory services through video- and tele conferences as and when required to review project implementation progress and timely resolve any issues. In addition, project Implementation Office of the Borrower prepares monthly progress reports, including environmental and social management report, and share it with the AIIB. Such reports highlight the updated progress of each project component and loan covenant, contractual or project management issues (if any) and respective actions. AIIB also holds project launch workshops on procurement, disbursement and environmental and resettlement related implementation plan to support designated project implementation agency/agencies for smooth project implementation.