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CSV
Lesson
Less stringent selection criteria, which enables the participation of more eligible financial institutions, could optimize the impact of microlending short-term, low-interest loans in unbanked but regularly earning agricultural communities. The selection of partner participating financial institutions (PFIs) for the microlending component of this project may have been too strict. This resulted in the participation of only 3 of the 6 large PFIs in Tajikistan, all of which are foreign-owned and likely to have been effective partners.

Project Number: 45389-001, 45389-002, 45389-003, 45389-004
Project Name: Building Climate Resilience in the Pyanj River Basin
Report Date:
Lesson
A thorough assessment of the financial management capacity of executing agencies (EAs) is required to mitigate the risk of financial issues disrupting project implementation or leading to non-compliance to loan covenants/grant agreements. The Agency for Land Reclamation and Irrigation (ALRI), the EA for 2 of this project’s 4 intended outputs, did not monitor the commercial bank that held the advance accounts for said outputs. When the bank became insolvent, part of the advance accounts was frozen, and was refunded only after government intervention albeit with significant delay.

Project Number: 45389-001, 45389-002, 45389-003, 45389-004
Project Name: Building Climate Resilience in the Pyanj River Basin
Report Date:
Lesson
A project focusing on microfinance could help remove obstacles to micro-insurance or other risk transfer schemes in the agricultural sector. The project did not create a market for micro-insurance as envisaged.

Project Number: 45389-001, 45389-002, 45389-003, 45389-004
Project Name: Building Climate Resilience in the Pyanj River Basin
Report Date:
Lesson
Embedding critical microfinance institution (MFI) performance indicators in the project monitoring system promotes transparency and allows assessment of performance and corrective actions when needed.

Project Number: 45229-001
Project Name: Access to Green Finance Project: Project Completion Report
Report Date:
CSV