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CSV
Lesson
When designing results frameworks, the use of policy actions as results indicators should be minimized. If the indicator measures the reform success by the completion of the policy actions, it provides little information on the success of that policy action and undermines the relevance of the policy action for no result is achieved other than itself.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Development partners should both support and take advantage of opportunities that arise when governments are committed to reform, which should also be recognized in their country programming. the government that came to office in 2018 was strongly reform-minded. Even though Armenia suffered two exogenous shocks in the form of the coronavirus disease (COVID-19) and conflict with a neighboring country, reform commitment did not waver. This contributed strongly to the ultimate outcome of this program.

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
Report Date:
Lesson
When programs embody reforms that are directed at strengthening the institutional framework for the operation of key markets, such as those underlying financial markets, clearly articulating them in the program documents clarifies objectives. By not doing so, it risks the results of the program not being fully apparent due to the lengthy period for the reforms to come to fruition. By setting as outcome objectives, what the improved framework will lead to places the outcome outside the time frame of the program

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
Report Date:
Lesson
The absence of a programmatic approach in policy-based loans (PBLs) can put at risk the sustainability of reforms. This program was designed as a stand-alone, single-tranche, PBL and effectively achieved its objective because of strong ownership by and well-coordinated efforts of the authorities and ADB staff. However, the lack of a programmatic approach posed a high risk to the sustainability of the reforms made.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Technical assistance (TA) is required to develop the capacity of institutions to meaningfully engage with ADB on a longer-term basis. ADB’s continuous engagement with the country, during and after a PBL, is essential. It allows ADB to keep a foothold in the country, learn about the reforms being assisted by other development partners, remain updated about emerging needs and issues, support sustainability, and help in processing new programs.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Dissemination of achievements made under the program is essential for knowledge-sharing and to strengthen ADB’s image as an effective development partner, The program supported the implementation of key reforms that were relevant and highly desired by the government to accelerate the country's economic growth. It is important to communicate the achievements made, with the general public and development partners, to improve knowledge and raise awareness. Communication and public awareness are also essential to enhance ADB’s status and credibility as an effective development partner.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Strong alignment with government strategies and priorities leads to strong government ownership and participation in program implementation. The reforms adopted under this program were essential to improve fiscal credibility and strengthen the capital market in Armenia. They were fully aligned with the strategies of the government and ADB. Because of this strong strategic alignment, government ownership of the program remained strong and all implementing agencies actively coordinated with ADB to achieve the reform agenda.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
ADB’s programmatic approach provides the greatest scope and flexibility for achieving the quality of policy dialogue required by structural reforms

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
Report Date:
Lesson
ADB’s programmatic approach to reforms can trigger long-lasting changes in the institutional and policy environment of Armenia and this needs to continue under the new government.

Project Number: 51060-002, 51060-003
Project Name: Public Efficiency and Financial Markets Program (Subprograms 1 and 2)
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
Agreed. Another useful lesson is the importance of involving clients in a hands-on manner to build a technical product and ensure the transfer of technical expertise, and the subsequent adoption or uptake

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
Agreed. A useful lesson is the importance of partnering with other knowledge institutions to tap expertise and efficiently use financial resources.

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
Another lesson relating to the TA is the selection of appropriate design and monitoring framework indicators that pertain to the effective utilization of knowledge products. Since the main outputs of regional capacity development TAs are knowledge products, monitoring the extent of utilization or uptake of the knowledge products produced within and/or outside ADB would benefit from user surveys or interviews. These surveys and interviews can help provide insights into how the knowledge products have benefited their users.

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
Lesson
Agreed. A useful lesson is the importance of partnerships with the client to ensure buy-in and follow through, and to tailor to additional capacity building demands from the DMCs

Project Number: 47146-001
Project Name: Macroeconomic Modelling for Improved Economic Assessment
Report Date:
CSV