Capital Market Development Program Cluster (Subprograms 1 and 2)

The post-program monitoring framework (PPMF) is a useful instrument in helping ensure the sustainability of reforms and providing a basis for continued ADB dialogue and support. The PPMF was a useful input to the design of the ADB policy-based loan supporting the Financial Market Development and Integration Program in 2012. It is also a good practice for ADB to support a post-monitoring program with technical assistance. However, the PPMF should monitor not only actions and outputs but also outcomes.