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Lesson
The government’s internal approval processes need to be carefully considered when designing and implementing a policy reform program. In Viet Nam, the consensus-building approach to policymaking requires significant time and coordination, particularly for policies that would entail changes to the legal framework. The process for amending laws is a significant constraint, as the lawmaking cycle usually takes 5 years. Inadequate consideration of these features of policymaking and lawmaking in Viet Nam could lead to unrealistic program schedules.

Project Number: 49331-001
Project Name: Financial Sector Development and Inclusion Program
Report Date:
Lesson
Combining finance sector development and financial inclusion under an umbrella framework enables a finance sector reform program to address both supply and demand to further develop the sector. The program as originally designed was to include two subprograms. Technical assistance, provided to help the government continue the reform measures adopted in subprogram 1, was key in supporting many of the reforms programmed under subprogram 2, even as the government elected not to proceed with a second loan. Nevertheless, government elected not to proceed with a second loan.

Project Number: 49331-001
Project Name: Financial Sector Development and Inclusion Program
Report Date:
Lesson
Sound project design requires adequate technical input and open communication with key participants and/or stakeholders. Greater technical input was necessary to appraise the government’s proposed components during project preparation. Specifically, the design flaws in output 2, credit lines for biogas value chains and other climate-smart agriculture waste management investments, would have been avoided if the processing team had access to livestock, environmental, and institutional specialists with appropriate country knowledge to support the financial management specialist.

Project Number: 45406-001
Project Name: Low Carbon Agricultural Support Project
Report Date:
Lesson
Research activities must be undertaken early in project implementation. Where research is needed to guide the introduction of new technologies, such research is better undertaken in advance of a project so that results can be incorporated in the project design. In this project, the 5-year project time frame was too short in undertaking research, evaluating results, and effecting replication. This time frame was further exacerbated by denying the participation of government-owned research institutes in the research program.

Project Number: 45406-001
Project Name: Low Carbon Agricultural Support Project
Report Date:
Lesson
Procurement should be exhaustive. Developing a procurement strategy with proper analysis of market availability, operating environment, including capacity assessments of executing and implementing agencies, and risk management will help the project achieve its intended results in a timely manner. Where a project requires participation of government-owned universities or research centers, attention should be paid at project appraisal to para. 1.13 (c) of ADB’s Guidelines on the Use of Consultants (2013, as amended from time to time).

Project Number: 45406-001
Project Name: Low Carbon Agricultural Support Project
Report Date:
Lesson
Coordination becomes increasingly necessary as the complexity of finance sector reforms increases.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Selective support for key policy measures promotes stronger impact.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Technical assistance is key to achieving reforms.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Inclusive finance sector development deserves greater attention.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Taking a long-term view to finance sector development ensures continuity in support and engagement.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Engagement with government monetary policy bodies facilitates the growth of local currency bond markets.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Adapting to the needs of government may require developing and providing unconventional loan modalities.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Addressing the sources of potential systemic risk contributes significantly to the development of the local currency debt markets.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
The capital market is complex.

Project Number: 44251-013, 44251-034
Project Name: Financial Sector Deepening Program
Report Date:
Lesson
Implementation has also revealed an urgent need to enhance the information technology (IT) capabilities of the PCFs and MFIs so that the credit reporting and information exchange can be improved. The MDP helped the SBV standardize the reporting requirements for PCFs and MFIs and set up the microfinance information exchange system within the National Credit Information Center (CIC). However, a majority of these small- sized credit institutions lack the skills and standard IT systems to properly comply with the new reporting standards.

Project Number: 42235-013, 42235-023
Project Name: Microfinance Development Program - Subprograms 1 and 2: Program Completion Report
Report Date: