Appraisal and Loan Processing
The appraisal of a complex project, such as an irrigated agricultural development project, entails a multi-disciplinary approach involving perhaps an agronomist, an agricultural economist, a socio-cultural specialist, a civil engineer and an environmental specialist. The technical feasibility of the proposed project is the basis for the other aspects of appraisal. Financial verification will be required of any farm budgets, farm models, the proposed streams of project costs and revenues and of the value of any existing benefits lost as a result of the implementation of the proposed project. The positive and negative environmental impacts of a project should be assessed and where possible quantified, expressed in monetary terms and incorporated into the economic analysis. Loan Negotiations will be held between senior country programming, sector, disbursements and legal staff members representing the external financing agency or Lender and representatives of the Borrower.