After the Senior Management Committee has completed its work and recommended the project or programme for Board approval, a draft project proposal is submitted to all parties involved including the Government for review.

Feedback is collected, and the Government is then called for negotiation with ADB. During negotiations, agreement should be reached or reconfirmed on the following: a) Objectives and description of the project, studies or programmes; b) loan amount in foreign and local costs of the project and the financing plan; c) a tentative list of goods and services to be procured; d)the schedule of execution and expenditure;  e) the disbursement methods selected by the borrower; f) the tentative schedule of disbursements including the precise information on the account numbers and correspondence banks; g) the procurement methods and dates of bidding announcements; h) the precise information on the executing agency and the project implementation unit; i) proposed realistic date for loan signature and deadlines for first and last disbursements; j) for co-financed projects , respective financing plans, cross-effectiveness and other miscellaneous information.