Project Cycle: Approval and Signing

The appraisal mission prepares a Staff Appraisal Report (SAR) and Report and Recommendation of the President (RRP) that set forth its findings and recommends the level and terms and conditions of IDB financing. These reports are carefully prepared to reflect the agreements reached during appraisal. They are reviewed, and cleared according to IDB?s internal processes and procedures.


Upon obtaining the formal concurrence of the beneficiary on the proposed terms and conditions of IDB financing, the project is presented to the Board of Executive Directors for final approval. On approval by the Board, the decision is intimated to the beneficiary. Subsequently, the project agreement is finalised and signed. This marks the end of the processing phase of the project cycle and the beginning of the implementation. The staff appraisal report is provided to the beneficiary and the project executing agency. Some projects may be approved directly by the President.