Step 12: Proposed Funding Modalities
Feasibility studies should also
guide funding modalities, particularly for donor funded projects such as the Bridge
Improvement and Maintenance Program (BIMP) supported by World Bank. The study should
give clear guidelines on Disbursement Linked Indicators, for detail guidelines
refer ▬►BIMP Program Appraisal Document, WB., PWD Part II Procedural
Directives, Volume A General Procedures, Chapter2, Feasibility Studies,Step-12
Pages 2-8 ,
BIMP Program Appraisal Document, WB
Step 12. Proposed Funding Modalities
The feasibility study will also address the funding modalities where required. The following uidelines apply:
- In regular HMG/N projects, the procedures for budgeting, sanctioning, expending, bookkeeping, internal and final auditing will be as specified by the FAR.
- In priority (core) projects to be executed under HMG/N funding and donor-funded projects, specific procedures for budgeting, sanctioning and auditing may be proposed and implemented under the authority of HMG/N. The mechanism may consist of project oriented three-year rolling budgeting and expenditure instead of the annual budgeting mechanism.
- In donor-assisted projects, there may be matching HMG/N funding which shall be expended according to the financial procedures of HMG/N while the foreign loan shall be expended according the donor’s relevant disbursement procedures.
- In district level projects, specific procedures may be proposed for more efficient transfer of funds to the projects.
- The final audit by the Auditor General’s Office shall be considered as an independent financial audit even for donor funded projects.