Project appraisal methods and procedures
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Project Appraisal:
Methods and Procedures
René van Zonneveld
Senior Technical Advisor
Projects Directorate, EIB
15 June 07
EIB-R. van Zonneveld
1
Project Appraisal Process
International
bodies and
agreements
External
levels
Recommendations
European
Commission
Opinion
National
Government
Opinion
Start
of repayment
of loan
Promoter
First
informal
contact
Services
EIB
levels
Management
Committee
Signature
Appraisal
of loan
agreement
Prelim.
screening
Appraisal
authorisat.
Loan
proposal
to Board
Monitoring
Completion
exercise
Ex-post
exercise
by EV
Annual
report
Loan
approval
Report
Specific
Recommendations
Board of
Governors
15 June 07
Time axis
Disbursement(s)
Board of
Directors
Remarks:
Info
to be
supplied
Poor quality projects
to be ruled out
at early stage
includes
site
visit
by technical
expert
EIB-R. van Zonneveld
includes
Technical
Description
as annex A
are various loan
conditions
fulfilled?
2
Eligibility
Legal framework
Regional development
Rational use of energy,efficiency
Environmental protection
etc
Policies, public acceptance
Licensing, safety
Environmental compatibility
Procurement
Promoter's standing
Investment cost
Management capability
Business strategy
Financial robustness
Access to loan securities
Local and foreign currencies
Phasing of expenditure
Margins for var.contingencies
Cost justification
Market prospects
Procurement
Demand pattern
Techn.characterist./procedures
Degree of competition
Tariff level and structure
Product quality
PROJECT
(stage of development at the
time of appraisal varies)
Technology and Design
Co-lender's requirements
Time schedule
Viability and performance
Adaptation to technic.progress
Local-specific requirements
Appropriate technical capacity
Life expectancy
Preparat.of feasibility studies
Environmental studies
Licensing requirements
Time needed for procurement
Local conditions (climatic etc)
Economic+financial
viability
Cost effectiveness
Financial intern. rate of return
Economic intern. rate of return
Pay-back period etc
15 June 07
Geographical location
Promoter's experience
Environmental compatibility
Impact analysis,mitigat.measures
Direct, indir.,long-distance effects
Prevention vs."end-of-pipe"
Compliance with intern.standards
Least-polluting technology
EIB-R. van Zonneveld
3
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
{
15 June 07
Eligibility
Regional Development
Rational use of energy, efficiency
Environmental protection
R&D
etc
EIB-R. van Zonneveld
4
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
15 June 07
Legal Framework
Policies, public acceptance
Licensing, safety
Environmental compatibility
Procurement
EIB-R. van Zonneveld
5
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
15 June 07
Promoter’s standing
Management capability
Business strategy
Financial robustness
Access to loan securities
EIB-R. van Zonneveld
6
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
{
{
15 June 07
Technology and Design
Project Definition
Viability and performance
Adaptation to technical progress
Local-specific requirements
Appropriate technical capacity
Life expectancy
EIB-R. van Zonneveld
7
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
{
15 June 07
Time Schedule
Preparation of feasibility studies
Environmental studies
Licensing requirements
Time needed for procurement
Local conditions (climatic, etc)
EIB-R. van Zonneveld
8
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
15 June 07
Procurement
Techn. characteristics-procedures
Geographical location
Promoter’s experience
Co-lender’s requirements
EIB-R. van Zonneveld
9
KEY ELEMENTS FOR APPRAISAL
Procurement
To follow: Guide to Procurement
(Febr.2004)
{ Inside EU->EU Directives
{ Outside EU-> Main Mechanisms of the
EU Directives
15 June 07
EIB-R. van Zonneveld
10
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
15 June 07
Investment Cost
Local and foreign currencies
Phasing of expenditure
Margins for var. contingencies
Cost justification
EIB-R. van Zonneveld
11
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
{
15 June 07
Environmental and Social
Compatibility
Impact analysis, mitigation measures
Direct, indirect, long-distance effects
Prevention vs. « end-of-pipe »
Compliance with international standards
Least-polluting technology
EIB-R. van Zonneveld
12
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
15 June 07
Market prospects
Demand pattern
Degree of competition
Tariff level and structure
Product quality
EIB-R. van Zonneveld
13
KEY ELEMENTS FOR APPRAISAL
{
{
{
{
15 June 07
Economic+Financial Viability
Cost effectiveness
Financial internal rate of return
Economic internal rate of return
Pay-back period, etc
EIB-R. van Zonneveld
14
15 June 07
EIB-R. van Zonneveld
15
Special Issues in
Project Preparation,
Appraisal, Implementation
and Completion
15 June 07
EIB-R. van Zonneveld
16
Special Issues in Project Appraisal, Making
Technical Expertise Available
{
During project preparation
z
z
z
z
15 June 07
Feasibility Studies-ToR
Feasibility Studies-Comments
Financial Engineering
Environmental and Social Aspects
EIB-R. van Zonneveld
17
Special Issues in Project Appraisal, Making
Technical Expertise Available
{
During Appraisal
z
z
z
z
z
z
15 June 07
Review of Project Design
Phasing of Project Implementation
Supervision Mechanisms
Optimize Finance Plans
Optimize Procurement Strategies
Review of profitability aspects and tariffs
EIB-R. van Zonneveld
18
Special Issues in Project Appraisal, Making
Technical Expertise Available
{
During Implementation
z
z
z
15 June 07
Establishment of Project Implementation
Units; involvement of Consultants
Review of Procurement Procedures and
Evaluation Process
Identification of Implementation Difficulties
and Remedial Measures
EIB-R. van Zonneveld
19
Special Issues in Project Appraisal, Making
Technical Expertise Available
{
Project Completion
z
z
z
15 June 07
Project Review with Promoter
Establishment of Lessons Learnt
Identification of Follow-up projects
EIB-R. van Zonneveld
20
Special Issues in Project Appraisal, Making
Technical Expertise Available
{
15 June 07
Under certain circumstances the EIB
could participate in providing technical
assistance
EIB-R. van Zonneveld
21
Special Issues in Project Appraisal, Making
Technical Expertise Available
{
After identification of a feasible project,
promoters should involve financiers at an early
stage
z
z
z
z
z
z
15 June 07
Detailed project preparation, including review of Carbon
Credit Issues
Special Requirements on Environment and Procurement
Guarantees
Insurance
Risk Mitigation
Acceptability of financial and economic profitability levels
EIB-R. van Zonneveld
22
