Search

Displaying 1 - 4 of 4

Lesson
The post-program monitoring framework (PPMF) is a useful instrument in helping ensure the sustainability of reforms and providing a basis for continued ADB dialogue and support. The PPMF was a useful input to the design of the ADB policy-based loan supporting the Financial Market Development and Integration Program in 2012. It is also a good practice for ADB to support a post-monitoring program with technical assistance. However, the PPMF should monitor not only actions and outputs but also outcomes.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date:
Lesson
The coverage of accompanying TA to support implementation of the reforms should match the scope and complexity of the program. The $1.5 million TA project was aimed at supporting the continuation of the reforms beyond the CMDPC, including the policy measures in the post-program monitoring framework. The other TA project amounting to $1.2 million TA project, with limited components, supported the implementation of a $600 million loan program with 93 policy actions to be completed by several government agencies.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date:
Lesson
Program design should be focused and selective, with a limited number of policy actions to ensure effective implementation and monitoring. The CMDPC supported a complex program with 93 policy actions (46 for subprogram 1 and 47 for subprogram 2). Limiting the number of policy actions in a program is consistent with the IED recommendations in the evaluation of ADB assistance to capital market development in 2008.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date:
Lesson
The long-term nature of capital market development requires a road map with clear sequencing and prioritization of reforms as well intermediate and long-term outcomes, with periodic updating. A longer term and flexible framework for reforms, supported by a timely monitoring and evaluation system, would provide a context for the phasing of reforms and identifying the content of specific programs which typically cover 3–5 year periods.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date: