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Lesson
Proper assessment of the borrower’s capacity and those of the executing agencies during the preparation phase supports project implementation which will help achieve the desired output and results. A delay in one key project component, due to weak capacity of agencies, could likely cause further delays in the subsequent activities such civil works which hampers the overall project implementation timeline.

Project Number: 44483-023, 44483-024, 44483-026, 44483-027
Project Name: Second Central Asia Regional Economic Cooperation Corridor 2 Road Investment Program (Tranche 3 and Multitranche Financing Facility)
Report Date:
Lesson
Shadowing arrangements or overseas placement have the potential of further bolstering staff capacity in state-owned energy utilities of Uzbekistan. Previous experience in Uzbekistan’s power sector confirmed that state-owned incumbents have the capacity to undertake major projects. Nonetheless, staff could benefit from ADB-sponsored training and workshops in procurement, safeguards, and commercial management, potentially through a shadowing arrangement or overseas placement.

Project Number: 54269-001
Project Name: Power Sector Reform Program (Subprogram 1)
Report Date:
Lesson
Proper execution of project administration activities relies on the capacity and commitment of borrowers and agencies involved. It is crucial that executing and implementing agencies are well informed of ADB operational procedures and requirements, especially with respect to financial management. This allows a concerned agency to carry out the project activities appropriately and ensure timeliness.

Project Number: 41340-013
Project Name: Advanced Electricity Metering Project
Report Date:
Lesson
Insufficient financial staffing and difficulties in information collection could hinder compliance to ADB financial requirements. During implementation, the IA faced challenges in complying with ADB’s financial management requirements. Submissions of audited project and entity financial statements were delayed because of (i) difficult information collection process, (ii) reports not complying with ADB guidelines, and (iii) insufficient accounting staff because of Uzbekenergo’s unbundling and restructuring.

Project Number: 41340-013
Project Name: Advanced Electricity Metering Project
Report Date:
Lesson
Lack of capacity and experience in executing/implementing agencies as well as lack of reference projects can negatively impact project implementation. This project encountered delays because the executing agency and project management unit (PMU) lacked capacity and prior experience with international financial institution–financed procurement and management of large projects. Moreover, there were no reference projects with similar legal and regional setups to provide lessons and guidance to the executing agency and PMU.

Project Number: 41340-013
Project Name: Advanced Electricity Metering 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: