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Lesson
ADB business procedures. While program preparation was shorter than for typical program grants and loans, streamlined and abbreviated business procedures for processing crisis response programs could allow the response to be more timely.

Project Number: 42529-013, 42529-023
Project Name: Growth Recovery Support Program
Report Date:
Lesson
Lending Modality: The crisis in Georgia, triggered largely by exogenous shocks, has underscored the need for a suitable modality that will enable ADB to provide quick support. While ADB has a program lending policy, there is no special modality for a financial crisis response operation for Asian Development Fund countries. The special program loan in the program lending policy is limited to ordinary capital resources countries (OCR). ADB's Countercyclical Support Facility (CSF) helped disburse anti-crisis support quickly to OCR eligible countries.

Project Number: 42529-013, 42529-023
Project Name: Growth Recovery Support Program
Report Date:
Lesson
Socially responsible budget. Rapid disbursements into a budget that is socially responsible and sound in macroeconomic terms provide an efficient channel for supporting public spending, including social, infrastructure, and countercyclical stimulus.

Project Number: 42529-013, 42529-023
Project Name: Growth Recovery Support Program
Report Date:
Lesson
Monitoring and evaluation framework. The overall success of the EAPCR could have been greater had the DMF been better designed. The impact statement could have been closer to the outcome, and assumptions about investor and consumer confidence should have been more realistic. The impact statement could have focused on maintaining sustainable and inclusive public sector spending rather than to restore the Georgian economy to the pre-war trajectory of growth and social development.

Project Number: 42477-013
Project Name: Emergency Assistance for Post-Conflict Recovery
Report Date: