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Lesson
When designing results frameworks, the use of policy actions as results indicators should be minimized. If the indicator measures the reform success by the completion of the policy actions, it provides little information on the success of that policy action and undermines the relevance of the policy action for no result is achieved other than itself.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Development partners should both support and take advantage of opportunities that arise when governments are committed to reform, which should also be recognized in their country programming. the government that came to office in 2018 was strongly reform-minded. Even though Armenia suffered two exogenous shocks in the form of the coronavirus disease (COVID-19) and conflict with a neighboring country, reform commitment did not waver. This contributed strongly to the ultimate outcome of this program.

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
Report Date:
Lesson
When programs embody reforms that are directed at strengthening the institutional framework for the operation of key markets, such as those underlying financial markets, clearly articulating them in the program documents clarifies objectives. By not doing so, it risks the results of the program not being fully apparent due to the lengthy period for the reforms to come to fruition. By setting as outcome objectives, what the improved framework will lead to places the outcome outside the time frame of the program

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
Report Date:
Lesson
Strong alignment with government strategies and priorities leads to strong government ownership and participation in program implementation. The reforms adopted under this program were essential to improve fiscal credibility and strengthen the capital market in Armenia. They were fully aligned with the strategies of the government and ADB. Because of this strong strategic alignment, government ownership of the program remained strong and all implementing agencies actively coordinated with ADB to achieve the reform agenda.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
The absence of a programmatic approach in policy-based loans (PBLs) can put at risk the sustainability of reforms. This program was designed as a stand-alone, single-tranche, PBL and effectively achieved its objective because of strong ownership by and well-coordinated efforts of the authorities and ADB staff. However, the lack of a programmatic approach posed a high risk to the sustainability of the reforms made.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Technical assistance (TA) is required to develop the capacity of institutions to meaningfully engage with ADB on a longer-term basis. ADB’s continuous engagement with the country, during and after a PBL, is essential. It allows ADB to keep a foothold in the country, learn about the reforms being assisted by other development partners, remain updated about emerging needs and issues, support sustainability, and help in processing new programs.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Dissemination of achievements made under the program is essential for knowledge-sharing and to strengthen ADB’s image as an effective development partner, The program supported the implementation of key reforms that were relevant and highly desired by the government to accelerate the country's economic growth. It is important to communicate the achievements made, with the general public and development partners, to improve knowledge and raise awareness. Communication and public awareness are also essential to enhance ADB’s status and credibility as an effective development partner.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
ADB’s programmatic approach provides the greatest scope and flexibility for achieving the quality of policy dialogue required by structural reforms

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
Report Date:
Lesson
ADB’s programmatic approach to reforms can trigger long-lasting changes in the institutional and policy environment of Armenia and this needs to continue under the new government.

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
Report Date:
Lesson
This is more of a description of achievements than a lesson learned. A more specific lesson could be that outputs delivered for one sector can also be applied to other sectors, thus providing lessons learned among different sectors and resulting in cost savings.

Project Number: 48040-001
Project Name: Export- and Innovation-Led Industrial Development
Report Date:
Lesson
This is a useful lesson learned. The lesson could have benefitted from specifying which outputs should have been grouped together under separate TA projects.

Project Number: 48040-001
Project Name: Export- and Innovation-Led Industrial Development
Report Date:
Lesson
This is more of a description of outputs/knowledge products produced than a lesson learned. A more specific lesson could be that ensuring that the knowledge products delivered under a TA are widely disseminated to allow for a learning experience is important. For example, this TA conducted assessments and ensured knowledge sharing by organizing an international forum and workshops.

Project Number: 48040-001
Project Name: Export- and Innovation-Led Industrial Development
Report Date:
Lesson
This lesson learned is too broad to be able to provide a lesson learned to other projects. A more specific lesson based on this TA’s implementing experience could be that ensuring a strong partnership and coordinating the implementation of activities with executing and implementing agencies, as well as donor partners, are critical for a successful TA, especially when there is a high staff turnover in the implementing agencies.

Project Number: 48040-001
Project Name: Export- and Innovation-Led Industrial Development
Report Date:
Lesson
Although interesting, this lesson learned does not provide a learning opportunity for future TAs. A more specific lesson could be that outputs delivered can provide a base for future interventions to build on, such as this TA’s trade portal, which is a tool to support investors and exporters.

Project Number: 48040-001
Project Name: Export- and Innovation-Led Industrial Development
Report Date:
Lesson
This is a useful lesson learned. Ensuring a clear implementation structure and limiting the number of implementing agencies help avoid implementation delays and changes to outputs.

Project Number: 48040-001
Project Name: Export- and Innovation-Led Industrial Development
Report Date:
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