MFF-Madhya Pradesh Power Sector Investment Program (Tranche 5)

Regarding results framework and methodology level lessons, this validation suggests that since one of the MFF outcomes was for better financial performance of the distribution companies, ADB should emphasize more on the monitoring of financial performance over the 5 or more years of project implementation. Improvement in the physical infrastructure of the power systems should go hand-in-hand with improvements in the financial soundness of these companies. Corrective measures to financial performance should be during implementation when ADB has the most leverage.