Loan signing
After Board approval, the document is sent to the borrowing country's Government for cabinet authorization. Following the authorization from the cabinet, the loan agreement is generally signed by ADB's President or Vice-President and the Representative of the Government. After loan approval a Borrower is allowed a maximum interval of about 90 days to sign the loan or grant agreement with the Bank Group. Commitment or service charges start running on a loan 45 days after loan signature irrespective of whether disbursement has been made or not. Before disbursement commences the loan or grant must be entered into force, or declared effective.
Did you know
In Sub-Saharan Africa about one in eight children die before reaching five years of age
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24/05/2012 - African Water Facility Helps Boost Socio-economic Development in Ethiopia and South-Sudan through Water Investments
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22/05/2012 - AfDB sponsors Fund of funds for Agribusiness in Africa - Board approves equity investment of USD 100 million in Agvance Africa
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17/05/2012 - Building Capacity for Measuring Development Results - AfDB Approves USD 13.95 million Grant to RMCs and RECs
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16/05/2012 - Board Approves over USD 400 Million for Morocco Solar Power, Agvance Africa and Capacity Building in RECs
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05/04/2012 - AfDB Approves USD 251 Million Funding for Roads in Tanzania and Sierra Leone
