This stage covers the period between the effectiveness of a public sector operation- or disbursement of a non-public sector operation- and the completion of the operation (or termination of a revolving facility). Completion of the operation is generally defined as the date at which the technical execution, or physical implementation, of the operation is completed. An implementation plan with clearly identified, easily measurable indicators of progress will greatly facilitate the effective supervision and monitoring of operations. The main activities on the part of the Bank during implementation involve any review and ‘no-objection’ processes in accordance with the legal documentation, execution of the disbursement schedule, supervision and monitoring of the implementation, as well as the taking of remedial actions where the quality of an operation or the financial status of the Client (Sponsor/ Guarantor) is deemed to have deteriorated below an acceptable level. Supervision and monitoring must also be alert to the possibility of fraudulent practices, with procedures and inspections geared to detecting and reacting to unusual or suspect events, decisions or documents.

 

The purpose of the supervision process is to follow implementation and identify problems and changed circumstances as early as possible so that appropriate action may be applied on a timely basis to achieve the operation's objectives and to protect the Bank's investment. Supervision of an operation continues until the Closing Date of the operation.