Negotiating the Kiribati Road Rehabilitation Project

When preparing a new project for the World Bank, the final stage is its presentation to the Bank’s Board wherein they (hopefully) approve the project’s design and provide the funds for implementation. The last major hurdle to reach the Board is to undertake ‘Negotiations’. This is where the activities of the project are agreed with the government, the terms of finance (grant, credit, loan) are confirmed, and the final details are resolved. When dealing with multi-million dollar projects, it can be appreciated that negotiations are critical to all parties. Last night around 8 p.m. we finished the negotiations for the Kiribati Road Rehabilitation Project (KRRP). As he was leaving my lawyer Raj commented that after all his years in the Bank that was definitely a first … and not to be repeated. I had to agree. It culminated a nightmare of a week.