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Lesson
Based on further information provided by ERCD, ensuring that adequate resources are allocated to finance important associated costs (e.g., hiring of dedicated staff to monitor use of proceeds and to ensure compliance with post-issuance reporting requirements) could help facilitate sustained increase in green bonds issuance.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+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 outcome indicator should have been formulated more clearly and the outputs/activities planned to better ensure that it could deliver the targeted outcome.

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
The way the lesson was formulated in the TCR could be improved (it is stated more like an issue rather than lesson learned). But a lesson could be inferred that ensuring individual DMC commitment upfront and awareness measures could seamlessly facilitate progress towards the attainment of the objective of the TA.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
Also, ensuring that approval is sought for changes in the indicators in the course of TA implementation is a good practice.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
The TCR could have elaborated on the need for consultants to ably navigate (or be supported to navigate) the consultant management system to ensure timely closure of TA accounts.

Project Number: 53140-001
Project Name: Developing Accountability and Mechanism Framework for Financial Intermediaries
Report Date:
Lesson
The TCR could have TCR could have provided further details about the national agenda/initiatives from India, Indonesia, and the PRC (Green Finance Initiative) brought about by the experience in developing this regional AMF. Based on the wrap-up workshop brief, staff from the East Asia Deparment, Central and West Asia Department, Office of the Special Project Facilitator, South Asia Department, and Sustainable Development and Climate Change Department, were present. Such details and other lessons from the Manila wrap-up workshop could have been mentioned in the TCR as well.

Project Number: 53140-001
Project Name: Developing Accountability and Mechanism Framework for Financial Intermediaries
Report Date:
Lesson
The TCR could have further discussed the benefits or disadvantages of having government agencies as local partners, such as the Policy Research Bureau of the China Banking and Insurance Regulatory Commission, facilitate workshop organization and implementation.

Project Number: 53140-001
Project Name: Developing Accountability and Mechanism Framework for Financial Intermediaries
Report Date:
Lesson
A total of 24 knowledge products were developed during this TA. Examples of successful and effective hand-over projects include the Pacific utilities benchmarking performance work of PRIF to the Pacific Water and Wastewater Association (PWWA) and to the Pacific Power Association (PPA). The 2016 PWWA benchmarking report was released during the Pacific Water conference and Expo in Tonga, August 2016. The report was based on the indicators developed during 2013 PWWA benchmarking exercise supported by PRIF.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
The TA design and monitoring framework was well devised with sufficient flexibility to respond to the countries’ demands and to the PRIF partners’ demands as the TA progressed—a key feature of the PRIF’s coordination arrangements.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
Fluctuations in committed and in effective financial contributions from the PRIF partners led to some uncertainties in allocating resources and in budgeting assistance programs. It was not possible to process the European Investment Bank planned cofinancing commitment of $1.1 million equivalent due to legal issues preventing the ability to conclude a cofinancing mechanism and agreement with ADB. During the TA period, ADB built on the constructive working relationship with the Governments of Australia and New Zealand.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
Significant changes to the PRIF CO staff (3 to 6 full time staff with 14 different consultants hired under 21 individual contracts) led to challenges in the delivery of services. An operational review conducted in 2018 proposed new operational structures to address “the need for longer-term funding certainty and broader funding base” and “the desire to provide greater stability in PRIF CO management and PRIF CO core team.” Majority of the individual consultants engaged for the TA performed satisfactorily.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
PRIF partner and stakeholder involvement and participation in PRIF activities, including attendance at SWG coordination meetings or support to the 51 subprojects’ implementation committees. Among the key challenges met was the wide range of assistance expectations from the PRIF partners and the stakeholders and the reconciliation of those expectations with the available PRIF CO resources. This was achieved through the dynamic “management committee/SWG” driven work prioritization mechanism.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
The implementation of PMC-approved activities led to the production of 78 technical reports and publications. This was executed through the recruitment of 146 consultant contracts including 6 consulting firms, 132 individual consultants and 8 resource persons.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date: