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CSV
Lesson
Policy-based operations can achieve better outcomes by using a limited number of more focused, carefully sequenced, high-impact reforms.

Project Number: 48134-001, 48134-006, 48134-007
Project Name: Stepping Up Investments for Growth Acceleration Program (Subprograms 1, 2, 3)
Report Date:
Lesson
This validation agrees with the recommendation and rephrases this as a lesson: Partnering with operational projects within ADB is an important step in ensuring that other DMCs outside ASEAN can develop their capital markets and improve governance standards of publicly listed companies.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
Additional lesson: Effective TA implementation to improve project readiness and strengthen policy advisory and capacity building can trigger a follow-on TA and new donor funding (as in this project).

Project Number: 46380-001
Project Name: Sustainable Infrastructure Assistance Program
Report Date:
Lesson
In the TCR’s Conduct of Activities section, it mentioned: “The nowcasting study featuring Indonesia was completed and published in the ADB Economics Working Paper series in December 2015 and in Empirical Economics journal in June 2017. This tool has been used regularly by the Indonesia Resident Mission to support their growth forecasts since 2016 and has also been shared to the Fiscal Policy Agency of the Ministry of Finance and Ministry of National Development Planning of the Republic of Indonesia to enrich their suite of tools for conducting macroeconomic monitoring.

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
TCR did not include a lesson for this criterion, however, a relevant lesson can be found in the Follow_x005F_x0002_up Actions section: “To build upon the achievements of the project, a new KSTA [knowledge and support technical assistance] on Deepening Understanding of Macroeconomic Fluctuations in Developing Member Countries for Improved Economic Assessment was approved on 21 June 2018 to further deepen understanding of macroeconomic fluctuations in DMCs for improved economic assessment.

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
The validation agrees that this is an important lesson especially as this was a cross-cutting gender specific TA project, and especially as this Phase 2 was building on work already undertaken in Phase 1. The TA project thus potentially offers a rich set of lessons; the documentation of lessons of replication is important and could potentially inform approach to how gender can be mainstreamed or scaled up across ADB operations.

Project Number: 48206-001
Project Name: Promoting Gender Equality and Women's Empowerment (Phase 2)
Report Date:
Lesson
This is a useful lesson learned but it is phrased as a recommendation. Rephrasing it into a lesson learned: When TA projects in the finance sector focus on specific subsectors or pecific themes, it allows for a comprehensive diagnostic assessment with adequate resources to address the biggest constraints in the sector or area. A more focused approach also allows the government to design and implement sequenced eforms in a sector.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
Report Date:
Lesson
The linkage agreed between the BOJ and the HKMA has the potential to set an example in the region and beyond.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
Initial success in implementing a TA supporting an innovative reform (e.g., cross-country financial infrastructure linkages), may encourage others to replicate reforms.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
Replication: Within ADB, the SDCD cost center has been established to develop GCF project proposals. Scaling up: It would require additional project preparation facilities, trust fund resources, and climate TA projects alongside ADB projects. Skills within SDCD have been developed but continue to rely on TA consultant support for implementation. The TCR, thus, recommended for a way forward.

Project Number: 47286-001
Project Name: Enhancing Readiness of ADB Developing Member Countries for Scaled Up Climate Finance
Report Date:
Lesson
Other lessons that can be used when replicating or scaling up some aspects of this TA project were not mentioned. Based on the guidelines, replication occurs when results of the TA project can be copied in other areas. Evidence of scaling up can involve mainstreaming the TA project process into wider development pathway.

Project Number: 48240-001
Project Name: Information and Communication Technology for Development Initiative Facility in Asia and the Pacific
Report Date:
Lesson
If this TCR claims potential demand from other countries for similar TA projects, it could have provided evidence to support this. The TCR could have also highlighted what worked and what did not in the methodology used if similar TA projects would be replicated or lessons that could be useful in the follow-on TA project.

Project Number: 50315-001
Project Name: Facilitating Small and Medium-Sized Enterprises Foreign Direct Investment Flows: An ASEAN+6 Case Study
Report Date:
Lesson
Agree on the need to continuously implement capacity building activities, given the rapidly changing development landscape and new emerging challenges, and to customize it to local languages for better understanding. The design of the next capacity building workshops should be informed by the feedback received from the participants from the post-training evaluation surveys conducted. It would be useful if SDCC could indicate these feedback and suggestions for future CDTA projects.

Project Number: 50060-001
Project Name: Strengthening Tax Policy and Administration Capacity to Mobilize Domestic Resources
Report Date:
Lesson
It is recommended that future TAs in the finance sector focus on specific subsectors or specific themes. This focused approach will enable comprehensive diagnostic assessment as well as adequate resources to address the biggest constraints in the sector or area. This approach will also benefit the government as they can design and implement sequenced reforms in a sector. Focus could also be on cross-cutting themes like financial inclusion.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
Report Date:
Lesson
ADB should explore how to link up ACMF initiatives with other departments of ADB to scale up and so the substantial technical work with ACMF can be made operationally relevant. ACMF’s initiatives on green bonds and corporate governance can help ASEAN member countries develop their capital markets and improve corporate governance standards of PLCs. There is also potential replication to other regional groupings outside ASEAN including the Central Asia Regional Economic Cooperation.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
CSV