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Lesson
The TA was financed by Republic of Korea e_x005F_x0002_Asia and Knowledge Partnership Fund (EAKPF), and the budget was executed prudently and transparently as planned through close coordination with EAKPF Fund Team. Thanks to EAKPF’s funding, the TA could closely collaborate with the Government of the Republic of Korea, hire an expert from Korean financial market as a consultant, and expand its network to Korean markets, all of which contributed to effectually generating the outputs and the outcome of the TA.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
Since the CSIF, which the TA supports has been a regional discussion platform under the ABMI TF4, consensus among members on subject matters was, and is, essential. To ensure regional consensus, the combination of inducing active participation of the members and engaging close consultation with ASEAN+3 government officials is quite important. In addition, further engagement with the private sector is more desirable, though the preference of the members is still informal and closed.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
Infrastructure development requires substantial preparedness and investment in both time and money. Particularly, a cross_x005F_x0002_border project would require more time and efforts than a national project for coordination among different jurisdictions, thus, planning and implementation arrangement would require flexibility. In addition, rapid advancement in technology would affect IT architecture design, thus, additional flexibility as well as wider involvement of various stakeholders would be desirable.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
Over the course of publishing three CSIF knowledge products, the TA could induce active involvement of the CSIF members raising awareness on the importance of regional market infrastructure for boosting intraregional investments among the members

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
The independent validation process implemented under the ACGS is good practice for knowledge building. It gives practical information on actual corporate governance practices of PLCs. Many ACMF initiatives have good traction within the region. However, awareness beyond ASEAN is limited. In addition to the existing knowledge sharing of best practices within ASEAN, future support to ACMF should also include engagement with international partners. This includes foreign academic institutions with strong private sector partnerships.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
ADB should explore how to link up ACMF initiatives with other departments of ADB to scale up and so the substantial technical work with ACMF can be made operationally relevant. ACMF’s initiatives on green bonds and corporate governance can help ASEAN member countries develop their capital markets and improve corporate governance standards of PLCs. There is also potential replication to other regional groupings outside ASEAN including the Central Asia Regional Economic Cooperation.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
The Japan Ministry of Finance and Japan International Cooperation Agency have been strong supporters of ACMF. ADB staff should explore opportunities to collaborate with these stakeholders in the implementation of future TA projects to provide visibility for their support and leverage on their role within the government and the private sector in Japan. The green bond study visit to Tokyo supported under this TA was a good start.The Investment Climate Facilitation Fund is a good source of TA funding forregional cooperation and integration.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
ADB provides support for capital market integration through the ASEAN as well as the ASEAN+3 processes. The latter is supported by the staff in the Economic Research and Regional Cooperation Department (ERCD). While there was some coordination with ERCD staff in the implementation of this TA, more coordination is required to find synergies between the various regional finance sector TA projects. This will reduce overlaps and produce better outputs by leveraging on the strength and network of counterparts supported by different regional TA projects.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
When a TA project is significantly different from what ADB has done before, and where therefore ADB and consultants have to collectively figure out how it will be implemented, a quality-based selection method may work better than a quality and cost-based selection. It gives teams the flexibility to choose the consultant who has the best experience and ideas, rather than one who is the least costly.

Project Number: 50315-001
Project Name: Facilitating Small and Medium-Sized Enterprises Foreign Direct Investment Flows: An ASEAN+6 Case Study
Report Date:
Lesson
The TA project team built close partnerships with private sector bodies such as Confederation of Indian Industry and the Indo–Thai Chamber of Commerce, as well as with institutes such as Institute for SME Development. These partnerships were important in ensuring good design and successful implementation. The partnerships were also important in disseminating TA project findings to government counterparts.

Project Number: 50315-001
Project Name: Facilitating Small and Medium-Sized Enterprises Foreign Direct Investment Flows: An ASEAN+6 Case Study
Report Date:
Lesson
As weak capacity in revenue administrations still remain due to emerging challenges including significant and rapid changes in the business circumstances (i.e., expansion of cross-border supply chain and digitalized platform), scaling up capacity building initiatives to address these challenges will be required. The subprojects implemented by ADB regional departments should be well designed at the initial stage to improve the likelihood of success.

Project Number: 50060-001
Project Name: Strengthening Tax Policy and Administration Capacity to Mobilize Domestic Resources
Report Date:
Lesson
When implementing an innovative TA project, seeking the support of different ADB departments, each with its own strengths, can help improve quality.

Project Number: 50315-001
Project Name: Facilitating Small and Medium-Sized Enterprises Foreign Direct Investment Flows: An ASEAN+6 Case Study
Report Date:
Lesson
For multiple year TA projects, it is important to regularly keep meeting with government counterparts to ensure that the TA project remains relevant to their needs, and to fine tune if their needs change. It is also important to build close relationships with nongovernment stakeholders as it can help mitigate the risks emanating from changing government priorities and policies.

Project Number: 50315-001
Project Name: Facilitating Small and Medium-Sized Enterprises Foreign Direct Investment Flows: An ASEAN+6 Case Study
Report Date:
Lesson
The follow-on TA project to support the implementation of some findings of this TA project is costed at $3 million.

Project Number: 50315-001
Project Name: Facilitating Small and Medium-Sized Enterprises Foreign Direct Investment Flows: An ASEAN+6 Case Study
Report Date:
Lesson
Close coordination with resident missions is essential to ensure that the TA project design meets client needs and is operationally relevant.

Project Number: 50315-001
Project Name: Facilitating Small and Medium-Sized Enterprises Foreign Direct Investment Flows: An ASEAN+6 Case Study
Report Date: