The Project Readiness Assessment (PRA) is a standardized tool managed and financed by the Global Infrastructure Facility (GIF) that assesses the completeness of project preparation to date, identifies key information gaps, and recommends actions client governments can take to foster robust project preparation, and maximize the probability of reaching project financial close and attaining long-term sustainability.
This tool provides governments with an independent “snapshot in time” assessment of the quality of project preparation work and provides an action plan of recommendations for facilitating investment and tendering decisions. The tool uses a standard scoring methodology for all projects, and covers six key components, which are scored independently:
- technical solution;
- commercial structure and financing;
- regulatory environment; and
- social and environmental impacts.