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Lesson
Suggested lesson: Approval of the proposed establishment of a center (the project outcome) was given first immediately before the project closure. Limited support from the government constrained the approval of the proposal to establish the KKC-IWRM. Hence, the staff faced increasing pressure to have it approved before the project closed. Nonetheless, the approval came on 17 September 2019, just before the project closure.

Project Number: 51364-001
Project Name: Establishment of Kazakstan Knowledge Center on Integrated Water Resources Management
Report Date:
Lesson
This is a description, not a lesson for a future TA project.

Project Number: 42417-045
Project Name: Vertical Mobility and Safety Improvement
Report Date:
Lesson
Based on further information provided by ERCD, understanding the additional costs (beyond external review fees) would help in identifying the reasons why there was no second-round issuance (which affects reputation if green status is lost) even though issuers have already invested heavily to establish proper internal system to monitor use of proceeds and provide post-issuance reporting.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
The way the lesson was formulated in the TCR could be improved (it is stated more like an issue rather than lesson learned). But lessons can be inferred that addressing reputational risk and additional costs for meeting green bonds requirements, ensuring a certain level of market maturity, and establishing clear regulations by market regulators are necessary conditions to the successful attainment of the TA objectives.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
The final approval of the concept on the establishment of KKC-IWRM was made on 17 September 2019 before the TA’s completion at considerable effort from the staff and with limited support from the government.

Project Number: 51364-001
Project Name: Establishment of Kazakstan Knowledge Center on Integrated Water Resources Management
Report Date:
Lesson
Lack of information related to sensitivity of data led to change in research locations for pilot projects. Thus, it is important for a TA design to determine if data collection might be subject to any sensitivity (confidentiality restriction).

Project Number: 51364-001
Project Name: Establishment of Kazakstan Knowledge Center on Integrated Water Resources Management
Report Date:
Lesson
Although the rights and obligations of the building owners and residents are governed by the Constitution of the Republic of Armenia, the Civil Code and other legal acts, the management of commonly shared property in multi-apartment buildings in Yerevan is not effective, since there is a mismatch between the ownership title of the assets and the owner’s perception regarding the maintenance obligations. Nevertheless, the local government is still willing to improve the commonly owned private property through public borrowing.

Project Number: 42417-045
Project Name: Vertical Mobility and Safety Improvement
Report Date:
Lesson
They also identified a lack of local currency green bond issues and the absence of investors with responsible investment mandates as reasons for the immaturity of green bond markets.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+4
Report Date:
Lesson
There are concerns on the additional costs associated with green bond issuances, as well as reputational risk if their bonds lose their green status

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+4
Report Date:
Lesson
Furthermore, clear regulatory guidance from relevant market regulators are seen as key to promote sustainable finance in ASEAN+3.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+4
Report Date:
CSV