The timing of a program is crucial to the effectiveness of its outputs and outcomes. Difficulties to obtain approvals of the numerous legislative actions in this program could be traced to the change of government (and the fact that the government did not hold a majority of seats in the Parliament). The program's achievements of performance targets benefited from the eventual improvement of the political and economic landscape from 2009 onwards. Therefore, to ensure the effective and pragmatic design of similar programs in the future, it is imperative that ADB be cognizant of potential changes in the country's political environment as well as factor in important variables (such as the internal conflict in this case) that could impact program implementation.
Financial Markets Program for Private Sector Development