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Lesson
Budget approval and procurement of new technologies being piloted could take time and cause implementation delays; when installed, rigorous monitoring of the performance of the new technologies is required to ascertain benefits and draw lessons from the pilot experience. In implementing the four pilot smart grid projects, substantial delays occurred due to the lengthy budget approval process and the procurement requirement of open competitive bidding while allowing international bidder participation.

Project Number: 50016-001
Project Name: Sustainable Energy Access in Eastern Indonesia—Electricity Grid Development Program
Report Date:
Lesson
Setting well-considered and realistic targets for indicators can highlight project performance and minimize revisions during implementation. Revision of DMF targets created the notion that the executing agency was merely avoiding a poor or low achievement rating and it should be clearly explained

Project Number: 46094-001
Project Name: Neighborhood Upgrading and Shelter Project (Phase 2)
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
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:
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: