This phase starts with ADB Group’s interest to finance a given project or programme, and includes both in-bank and external collection of information and data which will help the Bank’s Experts to appraise the project. A preparation mission to a country is multi-disciplinary and usually led by an Expert from a Sector Department. During the preparation mission Bank Experts review the project in line with the country’s CSP, obtain existing documentation such as feasibility studies on the project, and cross-check information with the authorities of the country.  

The ADB usually hires consultants to work with government counterpart staff to undertake the project's feasibility study. The consultants work closely with the various stakeholders including the government, civil society, project beneficiaries, and other development agencies working in those sectors. ADB closely monitors the consultants' work. The draft final report is reviewed at a tripartite meeting attended by representatives of the government, ADB, and the consultants. During this process, the ADB with the government agrees on an executing agency for the project or program.