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Lesson
Local government reform is a complex undertaking, involving major changes in the regulatory framework, institutional arrangements, supporting infrastructure, and human capacity. It also requires a long-term perspective in both design and implementation. Thus, the government?s continuous commitment to reform, its ownership of the program, and collaborative support by the donor community are all necessary elements in designing local government reform through a programmatic approach.

Project Number: 39516-013, 39516-023
Project Name: Local Government Financing and Budget Reform Program Cluster
Report Date:
Lesson
Program design should focus on mplementing reforms not only where commitment is strong, but where resources and external factors are adequate to ensure successful implementation. In the case of the Securities and Exchange Commission (SEC), a persistent and chronic shortage of funding initially compromised its ability to provide effective surveillance and supervision to the capital markets. Additional budget increases still appear necessary to bring Office of the Insurance Commission and SEC remuneration in line with the Bangko Sentral ng Pilipinas, as mandated by Republic Act No.

Project Number: 38276-013, 38276-023
Project Name: Financial Market Regulation and Intermediation Program
Report Date:
Lesson
There should be strong and widespread political will. For example, the Capital Market Development Plan was initiated unilaterally by the Securities and Exchange Commission and clearly was not reflective of industry sentiment and therefore did not enjoy widespread support. In the case of the Office of the Insurance Commission, pressure from the industry to postpone higher required capitalization contributed to a change in the Insurance Commissioner and a reduction in political will in support of reform.

Project Number: 38276-013, 38276-023
Project Name: Financial Market Regulation and Intermediation Program
Report Date:
Lesson
Programs and technical assistance should not depend on passage of law in countries where legislative processes are slow and cumbersome. In this case, reforms to the bank resolution process, such as the authorization of bridge banking powers for Philippine Deposit Insurance Corporation, rely on the passage of legislation, and are still pending. The administrative increase in minimum capital requirements for the insurance subsector was embroiled in controversy and delay, but now appears to be required by law, but only following a 7-year delay.

Project Number: 38276-013, 38276-023
Project Name: Financial Market Regulation and Intermediation Program
Report Date:
Lesson
Key success factors are government buy-in and an appropriately designed program. The key factors that contributed to the success of the MDP were (i) the strong commitment of the government and support from stakeholders to develop the sector and achieve sustainable microfinance; and (ii) a well-designed program that appropriately addressed the key constraints, accompanied by TA to support the program objectives and a grant for capacity development.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
Developing the microfinance sector entails a comprehensive approach that addresses key constraints at all levels. First, it entails enhancing the policy and regulatory environment. Second, it means developing the market infrastructure. In the case of the MDP, it was developing and adopting the performance standards for microfinance and drafting the bill for the credit information system that was successfully passed into law. Third, it means developing the capacity of MFIs for sound and sustainable microfinance operations.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
Aid agencies need to make the criteria for their support clear to the government counterpart, while understanding why the government is seeking assistance in the first place. In the case of Danida, they held the funding as they wanted TESDA to (i) receive an adequate budget allocation, and (ii) seek reimbursement from Danida after spending their own budgetary resources. However, the government had a budget problem. Danida spent 2 years trying to encourage the budget allocation for TESDA, but that did not happen. Danida eventually canceled their portion after 2 years.

Project Number: 23229-013, 23229-023
Project Name: Technical Education and Skills Development Project and Fund for Technical Education and Skills Development
Report Date:
Lesson
Vigilance needs to be exercised in maintaining market-based principles for sound and sustainable microfinance operations. The issuance of EO 558 initially threatened the foundation of the government’s market-based financing strategy for the sector. It did not have any significant adverse impact on the policy environment, as the market-oriented framework was already well established and institutionalized in the sector.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
NAPC’s information system capacity should have been assessed earlier. An assessment of NAPC’s information system should have been made at the formulation stage. Policy action and TA could have been incorporated in the program design to achieve an effective and functioning information system.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
The program has successfully eased the constraints to expansion of microfinance services, but outreach to the poor needs to be improved. Within the broad context of inclusive growth, the growth and commercialization of the microfinance sector increased access to financial services, created jobs, and increased financial literacy. However, outreach to households below the poverty line remains limited.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
While it provides the benefit of flexibility (i.e., deferring subprograms wherein the program design cannot be fully defined at appraisal), care must be taken to maximize the achievement of critical objectives even if ongoing subprograms are canceled.

Project Number: 37752-013
Project Name: Power Sector Development Program
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Lesson
No additional lessons

Project Number: 30540-013
Project Name: Agrarian Reform Communities Project
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Lesson
No additional lessons

Project Number: 30480-013
Project Name: Metro Manila Air Quality Improvement Sector Development Program
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Lesson
No additional lessons

Project Number: 30308-013
Project Name: Pasig River Environmental Management and Rehabilitation Sector Development Program
Report Date:
Lesson
No additional lessons

Project Number: 32499-013
Project Name: Development of Poor Urban Communities Sector Project
Report Date: