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Lesson
Close collaboration among ADB’s regional departments that support subregional programs and broad participation these subregional programs and their member countries, (i.e. the Central Asia Regional Economic Corridor, the Greater Mekong Subregion program, and the South Asia Subregional Economic Cooperation program), and development partners are critical in successfully implementing ECD-focused TA. These have helped improve the content and focus of the ECD guidance note produced by the TA.helped improve the ECD guidance note.

Project Number: 54423-001
Project Name: A New Operational Economic Corridor Development Framework for Central Asia and Beyond
Report Date:
Lesson
Early engagement with DMCs in knowledge-sharing activities is advisable for TA with comprehensive and complex topics. For this TA, it could have facilitated in-depth discussion and debate among DMCs and development partners on the new concept of ECD, lessons learned from ECD initiatives, and ECD pipeline development.

Project Number: 54423-001
Project Name: A New Operational Economic Corridor Development Framework for Central Asia and Beyond
Report Date:
Lesson
Using individual consultants and resource persons provides flexibility in contract implementation. A summary recording of pertinent contract data must be kept updated to support efficient consultant management.

Project Number: 54423-001
Project Name: A New Operational Economic Corridor Development Framework for Central Asia and Beyond
Report Date:
Lesson
The One ADB approach to project implementation is an exemplary cooperation modality in ADB. The Central and West Asia Department initiated the TA activities covering all ADB DMCs in the subregion and were strongly supported by the Regional Cooperation and Integration and Trade Division of then Climate Change and Sustainable Development Department and the regional cooperation and integration units of South Asia and Southeast Asia departments in providing inputs, mobilizing DMC participants, and generating financial support.

Project Number: 54423-001
Project Name: A New Operational Economic Corridor Development Framework for Central Asia and Beyond
Report Date:
Lesson
A longer implementation is required for complex TA projects. The TA was designed to support the development of a new economic corridor development (ECD) framework and operational guidelines that apply to the Central and West Asian countries and beyond. Taking lessons from other long-term ECD-related TAs, the TA could have been designed for a longer time frame from the start, with a more realistic timeline for completion, given the complexity of the ECD and the COVID-19- related constraints. A regular TA, instead of a small-scale TA, could have been a better option.

Project Number: 54423-001
Project Name: A New Operational Economic Corridor Development Framework for Central Asia and Beyond
Report Date:
Lesson
This validation offers the following lesson: although TA design may identify a particular model of consultancy, these needs may evolve during the program requiring adjustment. In this case, in developing a model that responded to the needs of ACMF’s working group on corporate governance, the TA project shifted its approach since the regulators felt that an audit firm (rather than consultants) would lend more credibility and recognition to the validation exercise.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation has rephrased the recommendation into a lesson as follows: Providing adequate visibility to partners who have either financed the project or have special interest and stake in seeing its success is necessary to ensure their continued support.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation agrees that cooperation and coordination, especially with other ADB departments, is important. This was a missed opportunity for this TA project. It is, however, not clear though why a visit to the People's Republic of China is required or recommended for the next ACMF TA.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation offers the following lesson: it is important to work and clearly communicate with ACMF and its working groups to get buy-in to the TA project. This is evident in how stakeholders noted their appreciation to this approach.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation offers the following lesson: keeping the stakeholders engaged through national interventions and securing sources of post-TA financial resources (unless the TA project was a project preparation TA) is important especially for capacity building TA projects, to ensure continuity and sustainability of the project.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
Identifying critical risks and assumptions are an important element of design. However, design could also usefully identify mechanisms to mitigate these risks.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation agrees with the lesson of building awareness for the work done under the TA project. However, it is unclear why awareness-building beyond ASEAN is required for this TA project. One can surmise that it could be for the goals of attracting capital. However, the role of partnership with foreign academic institutions is unclear beyond the publication of potential knowledge products. This lesson or recommendation should then be classified under partnership and cofinancing.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
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
Drawing on lessons from similar previous TA projects can help in robust design that is responsive to DMC needs, isrealistic, and adopts best practice. This could help to get greater stakeholder engagement in complex processes such as regional capital market integration.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
The improvements in the design were only done for subproject 2, while the overall DMF of the cluster RETA was left unchanged. This resulted in a disconnect and unclear results chain links between subproject 2’s narrowed focus and the cluster RETA’s outcome and outputs at appraisal. In a TA cluster, any changes in the subprojects require a revisit of the cluster TA’s DMF. The timely and critical review of preceding subproject(s) of a cluster TA project helped in ensuring that emerging issues and needs from stakeholders are addressed appropriately within the cluster TA project’s timeframe.

Project Number: 44174-022
Project Name: Support for Implementing the Action Plan for Transport and Trade Facilitation in the Greater Mekong Subregion (Subprojects 1 and 2)
Report Date: