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Lesson
Closer coordination with PSOD at project preparation may have minimized unexpected developments in the preparation of the ensuing loan.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
Kazpost’s finance division actively participated in the implementation of the TA with regular meetings to review the status and progress of TA implementation.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
The most critical aspect of the TA design was the development of a business plan and cash flow model. These addressed the concept clearance and initial due diligence processes of potential lenders.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
Kazpost’s management and staff played an important role in the implementation of the TA with the active involvement of Country Director, Kazakhstan Resident Mission and the participation of staff in on-the_x005F_x0002_job training for building a robust cash flow model.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
The TA experienced delays due to difficulties in engaging experts with relevant experience. A qualified candidate for the credit rating advisor (envisaged under the TA) could not be engaged due to problems with ADB remuneration rates.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
Additional TA resources to respond to lender due diligence would have been required if Kazpost had borrowed. As Kazpost did not borrow, there was no need for further funding.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
During the TA’s implementation, which was to prepare an ensuing loan for PSOD, the resident mission should have obtained regular feedback from PSOD.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
Kazpost was just one example of many unsuccessful ADB attempts in non-sovereign lending to Kazakhstan state owned enterprises from 2005–2010. The TA team (Central and West Asia Department/ Kazakhstan Resident Mission) and PSOD should have worked more closely in preparing the ensuing loan. Subsequently, enhanced collaboration of PSOD and Central and West Asia Department [was] further established, which resulted in the first loan to a state-owned enterprise, Samruk Energo, in 2017.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
The successful implementation of the TA may have been compromised by inadequacies in the preparation of the TA design, notably in the identification of required expertise and in the terms of reference for the consultants.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date:
Lesson
IFC and HSBC benefited from ADB’s work when it was unable to lend.

Project Number: 40552-012
Project Name: KazPost Financial Strengthening and Modernization
Report Date: