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Lesson
While the loan conversion from dollars to pesos was completed successfully, the price to MNTC of reducing its foreign exchange risk was quite high. Although there are potential benefits to the consumers from removal of the forex factor from the toll rate adjustment formula, the peso has since appreciated further against the dollar and the financial benefits of the conversion to MNTC are mixed. Regarding the issue of equity participation, ADB was seen to be more conservative and slow in its process than was the private sector.

Project Number: 33924-014
Project Name: North Luzon Expressway Rehabilitation and Expansion (Loan 7162/1769)
Report Date:
Lesson
Stronger due diligence on the part of ADB would have identified risk earlier and reduced project delays. The inability of PNCC to raise funds for the project, too, should have been anticipated at a time when most government corporations were strapped for cash and that PNCC had few alternative revenue sources apart from government subsidies. It should have been foreseen that PNCC would need to reduce its exposure in the project.

Project Number: 33924-014
Project Name: North Luzon Expressway Rehabilitation and Expansion (Loan 7162/1769)
Report Date:
Lesson
A program should have a well-defined exit strategy. This program was designed for implementation over 3 years with specified medium-term targets. It successfully closed upon completing subprogram 3. Without an exit strategy, the program risks reform fatigue and may encourage lax compliance with policy reforms. Introducing the post-program partnership framework during subprogram 3 proved to be effective in ensuring the sustainability of key reforms.

Project Number: 40538-013, 40538-023, 40538-033
Project Name: Development Policy Support Program Cluster
Report Date:
Lesson
If necessary, triggers should be supported by technical assistance (TA), as were the subprogram 2 and 3 public financial management (PFM) triggers. During the review of subprogram 2 policy triggers, the government and ADB identified gaps in government budget execution, internal audit and controls, and reporting, acerbated by the underdevelopment of the government's computerized accounts system. The government asked ADB for longer-term integrated TA to strengthen its PFM framework.

Project Number: 40538-013, 40538-023, 40538-033
Project Name: Development Policy Support Program Cluster
Report Date:
Lesson
Using numerical targets such as the tax revenue-to-gross domestic product (GDP) ratio as triggers, as initially done in subprogram 2, should be cautiously approached. Ambitious numerical targets that are not supported by a realistic reform timetable are likely to fail.

Project Number: 40538-013, 40538-023, 40538-033
Project Name: Development Policy Support Program Cluster
Report Date:
Lesson
A program cluster approach with prior expected actions enveloped by a medium-term framework with flexibility built into its design is an effective approach to supporting government reforms. It promotes continuous dialogue with the government on reforms and allows for program changes to effectively and efficiently respond to new or worsening risks to the economy and shifts in government policy priorities.

Project Number: 40538-013, 40538-023, 40538-033
Project Name: Development Policy Support Program Cluster
Report Date:
Lesson
Because the government had already purchased most of the housing prior to ADB loan approval, it could not be financed by the loan. ADB funds were therefore directed toward facilities. If ADB had not been involved in the project, the host communities would have received these community facilities much later and they would probably have been of a lower quality.

Project Number: 30308-013
Project Name: Pasig River Environmental Management and Rehabilitation Sector Development Program
Report Date:
Lesson
The technical assistance contributed substantially to achieving the policy reforms envisaged under the policy loan, but longer-term and more focused assistance will be required since: (i) as a new agency, the PRRC has limited capacity to drive policy reforms; (ii) policy change requires skills, effective institutional incentives and culture change; (iii) the program is ambitious and multi-faceted, encompassing a wide range of stakeholders with a variety of interests, not necessarily linked to the policy agenda.

Project Number: 30308-013
Project Name: Pasig River Environmental Management and Rehabilitation Sector Development Program
Report Date:
Lesson
The program assumed that by implementing the policy framework the government would have the tools and capacity to implement the full Pasig River Development Plan (PRDP), leading to the overall objective of improving the Pasig River water quality to class C level by 2014. However, the outputs of the policy loan covered only part of the implementation activities of the PRDP, and therefore it should have been clear from the start that the overall objective was not attainable.

Project Number: 30308-013
Project Name: Pasig River Environmental Management and Rehabilitation Sector Development Program
Report Date:
Lesson
The program required the cooperation of a large number of government agencies, while responsibility for implementation was given to the newly established Pasig River Rehabilitation Commission, without a well-established mandate or political influence. Without high-level political support, coordination became difficult and program outcomes were not achieved. When the responsibility for project implementation was delegated to sector agencies, it became more effective.

Project Number: 30308-013
Project Name: Pasig River Environmental Management and Rehabilitation Sector Development Program
Report Date:
Lesson
The program was overly ambitious in its scope and in its implementation structure. Only after modification of the scope and implementation arrangements was progress made. This could have been avoided, had a proper risk assessment and risk mitigation plan been prepared, based on the lessons learned from the previous program. Although the Pasig River Development Plan provided a good framework for the implementation of environmental improvement projects, more and longer-term assistance is required to establish the institutional setting for its effective implementation.

Project Number: 30308-013
Project Name: Pasig River Environmental Management and Rehabilitation Sector Development Program
Report Date: