Upon receiving an application in the form of an official submission from the governmental entity (such as a ministry) in charge of international borrowing, supported by an economic feasibility study and a project financing plan, ADFD reviews the request, and evaluates the technical and economic feasibility of the project.
The Fund then dispatches a delegation to the beneficiary country to carry out a field assessment. The delegation evaluates the project, studies the economic conditions, verifies the soundness of the feasibility study, validates the cost estimate, and ensures that the project addresses one of the beneficiary country’s development priorities.
Upon completion of the field assessment report, the delegation submits a recommendation to the Board of Directors for approval or rejection of funding.
After obtaining the final approval, ADFD notifies the government of the beneficiary country, prepares the draft loan agreement, and initiates discussions on the content and wording of the document. Once the two parties arrive at a mutually agreeable version, the process culminates in the signing of the agreement.
For more information, please visit our Funding Process page.