Third Financial Sector Program Loan

The design and monitoring framework should consist of indicators agreed between ADB and the government from the outset. These indicators should either already be present in the government's strategy or blueprint or, if they are not, then they should be included and approved by the highest level of authority of a particular organization. This would strengthen government ownership and accountability. These indicators then should be measured by both ADB and the government at the end of each year of the program. When the indicators fall short, corrective measures should be agreed on and included as a reform in the following year. [Main text, para. 43(ii)]