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Lesson
Specificity of intended outcome is essential to enable programming, innovation, and cycles of project improvement. The project’s outcomes were broadly defined and lacked clear pathways detailing how the outputs would interact with each other and achieve the outcomes. The vagueness is likely part of the reason that the design had significant gaps and flawed assumptions on how the activities would lead to the intended outcomes.

Project Number: 41509-013
Project Name: Rural Primary Health Services Delivery Project
Report Date:
Lesson
Drawing from similar past project experiences, as part of due diligence, will help minimize or avoid cost underestimations. The connection costs under this project were underestimated by 250%, resulting in the project installing only 43% of its planned 4,500 household connections. More thorough due diligence should have been carried out during project preparation, with cost estimates validated by experiences under similar past projects.

Project Number: 41504-024
Project Name: Improved Energy Access for Rural Communities
Report Date:
Lesson
Considering the construction costs and number of subprojects as tentative when there are significant technical unknowns that cannot be determined during the design stage will help mitigate the risks and facilitate the implementation of sector loan projects. Under this project’s preparatory technical assistance (TA), cost estimates were prepared under conditions of significant technical information gaps for all potential bridge sites.

Project Number: 43200-024
Project Name: Bridge Replacement for Improved Rural Access Sector Project
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
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:
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: