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Lesson
The scope and amount of an MFF need to be realistically designed by avoiding an optimistic assumption that the absorptive and implementation capacity of the executing and implementing agencies would achieve a significant improvement during program implementation. Simpler project designs, with specific purposes and fewer agencies involved in a limited number of locations, are also more likely to succeed than those with a broad scope and overly ambitious and complex structures.

Project Number: 37139-023
Project Name: Uttaranchal Power Sector Investment Program - Tranche 1
Report Date:
Lesson
The report and recommendation of the President (RRP) had indicated that 13 of the 25 urban local bodies (ULBs) demonstrated that their municipal cash flows would be sufficient to meet the additional expenditures resulting from the investment program and that the other 12 should propose a financial improvement action plan for sustaining the subprojects. No such action plans were developed. Had these actions plans been developed before subproject approvals, the sustainability of the subprojects would likely have improve

Project Number: 38254-043
Project Name: MFF - North Karnataka Urban Sector Investment Program - Tranche 2
Report Date:
Lesson
The choice of a multifinancing facility (MFF)\ as the financing modality for a proposed investment needs to be adequately justified, with due consideration of the fulfillment of preconditions, scope of tranches, and the extent to which an MFF would generate potential value addition in terms of efficiency, portfolio performance, and development results as compared to standalone project-based loans.

Project Number: 37139-023
Project Name: Uttaranchal Power Sector Investment Program - Tranche 1
Report Date:
Lesson
For a project that involve associated infrastructure that are not part of the project scope (although serves as a prerequisite to the project outputs such as a planned power plant to which the transmission lines under the project will be directly connected), it is critical to conduct more thorough and in-depth due diligence work to evaluate the feasibility and the uncertainties associated with the realization of such nfrastructure. Where possible, loan disbursements and procurement activities should be

Project Number: 37139-053
Project Name: Uttarakhand Power Sector Investment Program (Tranche 4 and Multitranche Financing Facility)
Report Date:
Lesson
Adequate due diligence at appraisal can ensure appropriate project design and a realistic project implementation plan and timeframe duly considering the borrower's and executing agency's capacity across institutional, financial, and operational aspects. Identifying and implementing risk mitigation measures and providing adequate early-stage support are crucial in minimizing initial delays and addressing emerging project needs. Risks associated with natural disasters can be an integral component of risk assessment at project design.

Project Number: 37139-023
Project Name: Uttaranchal Power Sector Investment Program - Tranche 1
Report Date:
Lesson
Compared to project-based lending, the choice of MFF as a modality is likely to risk decreasing the level of due diligence and scrutiny undertaken at the approval of single tranches. This needs to be considered as a downside of the MFF modality in general. A more thorough due diligence stage needs to be foreseen before approving single tranches, not only at the MFF appraisal level.

Project Number: 37139-053
Project Name: Uttarakhand Power Sector Investment Program (Tranche 4 and Multitranche Financing Facility)
Report Date:
Lesson
Extending physical completion of works beyond the financial closing of the loan, diminishes ADB’s ability to rigorously monitor and track project progress, safeguards, and technical due diligence.

Project Number: 38254-043
Project Name: MFF - North Karnataka Urban Sector Investment Program - Tranche 2
Report Date:
Lesson
Providing technical assistance to strengthen the institutional capacity of newly established states, executing agencies, and implementing agencies is essential. Including capacity building activities could enable smooth project implementation, in line with ADB guidelines. However, a caveat is to avoid an optimistic assumption that the absorptive and implementation capacity of the executing and implementing agencies would achieve a significant improvement right after the technical assistance and capacity building activities.

Project Number: 37139-053
Project Name: Uttarakhand Power Sector Investment Program (Tranche 4 and Multitranche Financing Facility)
Report Date:
Lesson
Use of two sample subprojects at the appraisal stage is insufficient to make a reasoned assessment of the economic viability of a project of this size. A broader range of ULBs would have indicated the economic viability, sustainability, and the reform measure needed to ensure the success of the project.

Project Number: 38254-043
Project Name: MFF - North Karnataka Urban Sector Investment Program - Tranche 2
Report Date:
Lesson
It is important to have tranche-specific DMFs that are logical, with sound links of outcome and output targets that are formulated in line with the principle of being specific, measurable, achievable, relevant, and timebound. For a specific tranche, the outcome and output indicators can jointly work to reflect the appropriateness and continuum of the results chain leading up to the high-level development impacts that are most relevant to the scope and focus of the tranche.

Project Number: 37139-023
Project Name: Uttaranchal Power Sector Investment Program - Tranche 1
Report Date:
Lesson
Midterm review is a key opportunity for course correction and review of the project design. This opportunity was not fully exploited and design flaws in the DMF remained until the project completion. T

Project Number: 38254-043
Project Name: MFF - North Karnataka Urban Sector Investment Program - Tranche 2
Report Date:
Lesson
Weaknesses in the initial design and monitoring framework (DMF) led to difficulties in measuring project achievements. The initial DMF for the facility had to be revised. Some outcome targets were not updated even though there were changes in the associated investments under the different tranches. The DMF included output Indicators for activities not directly financed under the MFF.

Project Number: 42414-013, 42414-045
Project Name: Sustainable Urban Transport Investment Program - Tranche 5 and MFF
Report Date:
Lesson
The facility’s flexibility allowed the use of savings from one tranche to fund investments from another tranche. The installation and supply of ventilators within tranche 5 was canceled in the metro project as the increase in costs surpassed the initially allocated loan funds. Savings from tranche 1 from the cancellation of other subprojects were used to fund the investment in ventilators from the metro project.

Project Number: 42414-013, 42414-045
Project Name: Sustainable Urban Transport Investment Program - Tranche 5 and MFF
Report Date:
Lesson
Government changes can disrupt institutional continuity. The national election in 2012 resulted in a change in the ruling party and the subsequent appointment of new directors and staff in the implementing agency. Additional time had to be devoted to building capacity and awareness of the project. Several components under the project were canceled because of changes in government priorities.

Project Number: 42414-013, 42414-045
Project Name: Sustainable Urban Transport Investment Program - Tranche 5 and MFF
Report Date:
Lesson
The design and monitoring framework needs to be updated to reflect realistic timelines when delays occur.

Project Number: 41627-023, 41627-033
Project Name: Himachal Pradesh Clean Energy Development Investment Program (Tranches 1 and 2)
Report Date: