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2009 AEC- The Impact of Project Cost on Aid Disbursement Delay The Case of the African Development Bank


In the December 2007 African Development Bank (AfDB) Report on its project portfolio to the Board of Directors, it is shown that the average delay between the Board approval of an investment project and the first disbursement is around 24 months. The literature is almost silent on the analysis of the delay to the first disbursement for international development agencies because mainly of data availability. This paper focus on the African Development Bank and its objectives are twofold. We first provide some descriptive analysis of the 2 195 development projects, approved by the AfDB Board between 1967 and 2008, and worth US$158.0 billion of which the AfDB financed a total of US$54.4 billion. The second objective of our paper is to analyse the impact of the project cost on the delay to the first disbursement of these projects.

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