Implementation Supervision and Monitoring stage

This stage covers the period between the effectiveness of a public sector operation- or disbursement of a private sector operation- and the completion of the operation (or termination of a revolving facility). Completion of the operation is generally defined as the date at which the technical execution, or physical implementation, of the operation is completed.

 

Because of the need to monitor repayments and the fulfillment of all financial obligations, supervision and monitoring will continue until the Closing Date of the operation. Closing Date is defined as the date at which any liabilities of the Bank, and liabilities or financial obligations of the Client(s) to the Bank, have been fulfilled (e.g. full repayment of a loan, completion of exit from an equity investment, or expiration of a guarantee).

 

The main activities on the part of the Bank during this stage involve:

  • review and ‘no-objection’ processes in accordance with the legal documentation;
  • execution of the disbursement schedule;
  • supervision and monitoring of the implementation;
  • remedial actions where the quality of an operation or the financial status of the Client (Sponsor/ Guarantor) is deemed to have deteriorated below an acceptable level;
  • being aware of possible fraudulent practices, with procedures and inspections geared to detecting and reacting to unusual or suspect events, decisions or documents.

 

The Client will prepare regular reports on the implementation of the operation, which may conform to its own formats and standards, but which must contain the required information concerning the implementation of the operation. The Bank will prepare regular internal Supervision/Monitoring Reports (SMRs) on the basis of information provided by the Client and information received during supervision trips to the site by the Operation Leader as well as information obtained from sources within and outside the Bank.