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Lesson
Safeguard actions required for non-RBL projects are largely unsuitable for RBL programs, and this needs to be considered to improve the safeguard system assessments and categorization of future RBL programs. While safeguard concerns were satisfactorily resolved in the program, some actions in the safeguard action plan were more appropriate for a typical investment project than for an RBL program. For example, the safeguard action plan indicated the disclosure of environmental documents of senior high school classroom construction.

Project Number: 45089-002
Project Name: Senior High School Support Program
Report Date:
Lesson
ADB may need to consider greater flexibility to allow an extension of the availability period of loans under the multitranche financing facility, where deemed appropriate. Because of various delays, the investment program's availability period was extended to 10 years and ended on 24 November 2020. Government requests to extend the availability beyond 2020 were declined by ADB.

Project Number: 41504-013, 41504-023, 41504-025
Project Name: Town Electrification Investment Program (Multitranche Financing Facility and Tranche 2)
Report Date:
Lesson
Experience with this program validated the four reasons for the choice the policy-based lending (PBL) programmatic approach as most suitable for the development of the finance sector of Cambodia. First, financial sector development is a gradual process that requires proper sequencing. Key foundational reforms of the banking subsector must be in place before progressing to more complex reforms of the nonbank subsector.

Project Number: 44263-013, 44263-015, 44263-016
Project Name: Inclusive Financial Sector Development 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
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: