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Lesson
Technical assistance (TA) is required to develop the capacity of institutions to meaningfully engage with ADB on a longer-term basis. ADB’s continuous engagement with the country, during and after a PBL, is essential. It allows ADB to keep a foothold in the country, learn about the reforms being assisted by other development partners, remain updated about emerging needs and issues, support sustainability, and help in processing new programs.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Dissemination of achievements made under the program is essential for knowledge-sharing and to strengthen ADB’s image as an effective development partner, The program supported the implementation of key reforms that were relevant and highly desired by the government to accelerate the country's economic growth. It is important to communicate the achievements made, with the general public and development partners, to improve knowledge and raise awareness. Communication and public awareness are also essential to enhance ADB’s status and credibility as an effective development partner.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Strong alignment with government strategies and priorities leads to strong government ownership and participation in program implementation. The reforms adopted under this program were essential to improve fiscal credibility and strengthen the capital market in Armenia. They were fully aligned with the strategies of the government and ADB. Because of this strong strategic alignment, government ownership of the program remained strong and all implementing agencies actively coordinated with ADB to achieve the reform agenda.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
The absence of a programmatic approach in policy-based loans (PBLs) can put at risk the sustainability of reforms. This program was designed as a stand-alone, single-tranche, PBL and effectively achieved its objective because of strong ownership by and well-coordinated efforts of the authorities and ADB staff. However, the lack of a programmatic approach posed a high risk to the sustainability of the reforms made.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
No additional lessons

Project Number: 30295
Project Name: Second Financial Sector Program Loan Cluster—Subprograms 1 and 2
Report Date: