Compliance monitoring: an endeavor by itself

Compliance monitoring audit: a fast and reliable way to solve investment projects issues and problems during implementation

I just completed auditing two large investments projects in Egypt (Cairo Metro Project financed by the Eurpoean Investment Bank), Pro-Routes Project (Democratic Republic of Congo financed by the the World Bank and the British DFID). In both projects issues connected to interpretation of legal provisions and implementation of environmental and social standards were at stake. Both financing were suspended until projects return to compliance with the applicables norms and standards in accordance with the terms and conditions defined in the financing agreements. the audits identified the various issues connected with interpretation of the legal provisions and applicables standards and provided action plans to solve the issues at stake and bring back the projects to compliance.

These audits allowed me to meet and hear all stakeholders and reconcile their views and opinions on the ways the projects were implemented and identify the substantive issues which needed attention. Major aspects are the negative impacts on persons and communities which were either not well-assessed and/or not dealt with appropriately under the relevant agreements. The action plans which I was able to prepare were discussed at length with all stakeholders before being finalized and submitted to the parties for implementation. So far, both compliance audits concluded successfully and both projects were brought back to full compliance allowing financing to resume.