AIIB's project process is guided by its strategic goals and thematic priorities: sustainable infrastructure, cross country connectivity and private capital mobilization. AIIB screens project ideas and proposals from clients, partners and other stakeholders and seeks to achieve an appropriate balance among borrowers, sectors, sovereign and non-sovereign projects. Projects that meet the preliminary screening criteria are 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 for implementing the project by executing each project activity as agreed in the detailed project description document, which provides overall project implementation guidance. The 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.
The Borrower’s Project Implementation Office is responsible to implement the project in a timely manner. If needed, the Borrower may recruit consultants to provide specialized professional services in 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 project implementation from the stage of inception to completion. Being a lean organization, AIIB’s monitoring of project implementation and guidance for the Borrower’s team are not limited to only periodic fielding of review missions that usually are twice a year. The AIIB team also offers its advisory services through video and teleconferences as and when required to review project implementation progress and resolve any issues in a timely manner. In addition, the Project Implementation Office of the Borrower prepares monthly progress reports, including an environmental and social management report, and shares them with 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.