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Lesson
Adequate due diligence and consultation with government agencies and related stakeholders throughout the project cycle will help ensure appropriate project planning, preparation, design, and implementation and avoid unnecessary scope changes that reduce the overall process efficiency.

Project Number: 42414-033
Project Name: Sustainable Urban Transport Investment Program (Tranche 2)
Report Date:
Lesson
Independent technical studies are useful in addressing project-related grievances. The executing agency, in collaboration with ADB, determined that specific studies, including noise and vibration studies, had to be completed before proposing solutions to address the concerns of the complainants. While the proposed RAP was not accepted by the complainants, the technical studies proved useful in establishing the deficiencies of the IEE and could be built upon in addressing issues of similar nature.

Project Number: 42414-043
Project Name: Sustainable Urban Transport Investment Program - Tranche 3
Report Date:
Lesson
Based on further information provided by ERCD, understanding the additional costs (beyond external review fees) would help in identifying the reasons why there was no second-round issuance (which affects reputation if green status is lost) even though issuers have already invested heavily to establish proper internal system to monitor use of proceeds and provide post-issuance reporting.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
The way the lesson was formulated in the TCR could be improved (it is stated more like an issue rather than lesson learned). But lessons can be inferred that addressing reputational risk and additional costs for meeting green bonds requirements, ensuring a certain level of market maturity, and establishing clear regulations by market regulators are necessary conditions to the successful attainment of the TA objectives.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
Furthermore, clear regulatory guidance from relevant market regulators are seen as key to promote sustainable finance in ASEAN+3.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+4
Report Date:
Lesson
They also identified a lack of local currency green bond issues and the absence of investors with responsible investment mandates as reasons for the immaturity of green bond markets.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+4
Report Date:
Lesson
There are concerns on the additional costs associated with green bond issuances, as well as reputational risk if their bonds lose their green status

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+4
Report Date: