Examines interest rate policy used in discounting benefits and costs of government projects, focusing on need to raise 3 1/4 % interest rate currently used for Interior Dept water project assessments.

Climate change represents an increasing threat to the continued development of the people, preservation of ecosystems, and economic growth of Asia and the Pacific. Mainstreaming climate risk management in all aspects of development is thus key to an effective transition to climate-resilient development pathways. ADB's climate risk management framework aims to reduce risks resulting from climate change to investment projects in Asia and the Pacific. A key step in this framework is the technical and economic valuation of climate-proofing measures. This report describes the conduct of the cost-benefit analysis of climate proofing investment projects. An important message is that the presence of uncertainty about climate change does not invalidate the conduct of the economic analysis of investment projects, nor does it require a new type of economic analysis. However, the presence of uncertainty does require a different type of decision-making process in which technical and economic expertise combine to present decision makers with the best possible information on the economic efficiency of alternative designs of investment projects.

This sourcebook provides practical guidance to policymakers and program planners in countries and to development agencies on how to carry out or support an agricultural sector program—from initial discussions, to developing the program concept, to securing broad stakeholder involvement, to implementation. It explains the reasons why countries may wish to undertake a sector or subsector program and describes the conditions which can help ensure the program's success; provides details on how to formulate a sector strategy and bring about institutional reforms; focuses on core public sector activities based on a detailed expenditure review; and suggests ways of encouraging donors to work together under the leadership of the partner country government.