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Lesson
Cofinancing expands possible project activities and outputs. Cofinancing from the Financial Sector Development Partnership Special Fund (FSDPSF) for this project allowed a more comprehensive set of deliverables and activities under outputs 1, 3, and 4. It provided flexibility in the use of resources, as FSDPSF beneficiaries are not differentiated according to country categories.

Project Number: 53198-001
Project Name: Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region
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Lesson
A separate budget for a fund-raising roadshow is essential to ensure the successful establishment of a funding facility. This should not have been neglected in the establishment of the CAREC Climate and Sustainability Project Preparatory Fund aimed for under this TA. Engaging with potential donors is a critical step in securing the necessary funding for the fund's operation.

Project Number: 54344-001
Project Name: Supporting the Establishment of a CAREC Regional Infrastructure Projects Enabling Facility
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Lesson
Less stringent selection criteria, which enables the participation of more eligible financial institutions, could optimize the impact of microlending short-term, low-interest loans in unbanked but regularly earning agricultural communities. The selection of partner participating financial institutions (PFIs) for the microlending component of this project may have been too strict. This resulted in the participation of only 3 of the 6 large PFIs in Tajikistan, all of which are foreign-owned and likely to have been effective partners.

Project Number: 45389-001, 45389-002, 45389-003, 45389-004
Project Name: Building Climate Resilience in the Pyanj River Basin
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Lesson
A thorough assessment of the financial management capacity of executing agencies (EAs) is required to mitigate the risk of financial issues disrupting project implementation or leading to non-compliance to loan covenants/grant agreements. The Agency for Land Reclamation and Irrigation (ALRI), the EA for 2 of this project’s 4 intended outputs, did not monitor the commercial bank that held the advance accounts for said outputs. When the bank became insolvent, part of the advance accounts was frozen, and was refunded only after government intervention albeit with significant delay.

Project Number: 45389-001, 45389-002, 45389-003, 45389-004
Project Name: Building Climate Resilience in the Pyanj River Basin
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Lesson
A project focusing on microfinance could help remove obstacles to micro-insurance or other risk transfer schemes in the agricultural sector. The project did not create a market for micro-insurance as envisaged.

Project Number: 45389-001, 45389-002, 45389-003, 45389-004
Project Name: Building Climate Resilience in the Pyanj River Basin
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Lesson
Making private sector development truly sustainable requires transforming governance and public institutions and administration in a manner suited to the development of market-based systems.

Project Number: 47099-002, 47099-004
Project Name: Investment Climate Reforms Program (Subprograms 1 and 2)
Report Date: