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Lesson
The selection of suitable participating financial institution (PFI) partners is important to better implement a financial intermediation loan project. PFIs that are financially sound, have good track records, and are committed toward serving rural enterprises and SMEs are likely to be effective in implementing financial intermediation loans.

Project Number: 47305-002, 47305-004
Project Name: Horticulture Value Chain Development Project
Report Date:
Lesson
Understanding changing market conditions during implementation and undertaking timely adjustments in the design in response to the conditions help maintain the relevance of the project and facilitate delivery of outputs within the planned timeline. The minor changes made in the design were instrumental in accelerating the pace of the project after a slow start and in delivering the expected project outputs.

Project Number: 47046-002
Project Name: Gansu Featured Agriculture and Financial Services System Development Project
Report Date:
Lesson
State-owned banks are often used for policy lending that target specific sectors offering low interest rates and preferential terms. It is important that during project preparation, financial intermediaries selected are aligned with the market-based approach of FIL projects to avoid crowding out subloans and nonparticipation of selected intermediaries in lending to the target sector.

Project Number: 47046-002
Project Name: Gansu Featured Agriculture and Financial Services System Development Project
Report Date:
Lesson
Well-developed, in-house expertise in appraising infrastructure subprojects, business development, risk management, and monitoring supported by good governance contributes significantly to effective implementation of an infrastructure financing facility. Over the years, IDCOL demonstrated this type of institutional capacity especially in power subprojects.

Project Number: 42180-013
Project Name: Second Public–Private Infrastructure Development Facility
Report Date:
Lesson
Adequate risk assessment and provisions for mitigation measures on safeguards at design stage are critical requirements for project readiness. Oftentimes, these prerequisites (e.g., analysis on the need for land acquisition), if not sufficiently done, could contribute to implementation delays. Such analysis could include appropriate assessment of project target areas, including land availability, as well as meeting the pertinent social safeguards prior to site access and/or civil works.

Project Number: 40534-013
Project Name: Second Crop Diversification Project
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Lesson
It is important for green finance to be supported by robust product development.

Project Number: 45229-001
Project Name: Access to Green Finance Project: Project Completion Report
Report Date:
Lesson
It is important that the TA is appropriately designed to support the delivery of expected outputs and that it is implemented in a timely manner. The program demonstrated the role of a well-designed TA in supporting completion of reforms across the three subprograms and building capacity of the implementing agency. It is also essential that the timing of activities is aligned with the sequencing of policy actions so as not to undermine the achievement of outputs.

Project Number: 48207-001, 48207-002, 48207-004
Project Name: Financial Market Development and Inclusion Program
Report Date:
Lesson
The continuous longer-term involvement of the same mission leader and other qualified ADB staff from the design stage until the end of implementation of the three subprograms is important to the success of this program. Familiarity with local institutional challenges and personnel in the government is important for a complex reform program such as this one to achieve progress.

Project Number: 48207-001, 48207-002, 48207-004
Project Name: Financial Market Development and Inclusion Program
Report Date:
Lesson
Another lesson is that strong partnership and greater collaboration among FIs and stakeholders support the strengthening of financial supervision and risk management monitoring. Due diligence on the FI’s institutional capacity prior to loan approval, led to develop a complementary TA, which in turn supported in improving FI’s operational and financial management. ADB’s additional financing served as leverage to pursue recommendations from the TA, aimed to improve the FI’s financial and operational performance.

Project Number: 46268-002
Project Name: Clean Energy Finance Investment Program (Tranche 1)
Report Date:
Lesson
Particularly for loans, in-depth review on a borrower’s credit performance and the sector context, as part of the due diligence assessment, is vital for recognizing potential financial risks. Analytical measurements on financing risks (e.g., adequacy of capital ratio, contingent liabilities), risk allocation options, and risk management monitoring, for example, are key factors that enhance credit appraisal and help develop a well-structured financing scheme and related covenants.

Project Number: 46268-002
Project Name: Clean Energy Finance Investment Program (Tranche 1)
Report Date:
Lesson
Unrealistic and overambitious indicators in the DMF should have been raised during the implementation for corrective actions.

Project Number: 40517-013, 40517-042
Project Name: Public–Private Infrastructure Development Facility
Report Date:
Lesson
2. Plans should have been incorporated in the design to include a rigorous impact evaluation that establishes data from a baseline survey at the onset and another one after the project.

Project Number: 42007-014
Project Name: Small Business and Entrepreneurship Development Project
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Lesson
A well-functioning project steering committee could have played a role in identifying and addressing the consultant selection issues at an earlier time. It could have also identified issues relating to agencies’ capacity to engage in PPP preparation.

Project Number: 40009-013, 40009-023, 40009-33, 40009-43
Project Name: Infrastructure Reform Sector Development Program (Subprograms 1, 2, and 3, and an Infrastructure Project Development Facility)
Report Date:
Lesson
Projects require close monitoring in the start-up phase, particularly on the initial procurement packages.

Project Number: 40009-013, 40009-023, 40009-33, 40009-43
Project Name: Infrastructure Reform Sector Development Program (Subprograms 1, 2, and 3, and an Infrastructure Project Development Facility)
Report Date:
Lesson
The program should have had a much narrower sectoral focus and clearer criteria on the types and size of projects to be considered.

Project Number: 40009-013, 40009-023, 40009-33, 40009-43
Project Name: Infrastructure Reform Sector Development Program (Subprograms 1, 2, and 3, and an Infrastructure Project Development Facility)
Report Date: