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Lesson
Actions related to information technology (IT) require attention during both planning and implementation.

Project Number: 46371-002
Project Name: Strengthening Economic Management Program II
Report Date:
Lesson
Utilize technical assistance (TA) resources effectively for capacity building.

Project Number: 46371-002
Project Name: Strengthening Economic Management Program II
Report Date:
Lesson
Communication and consultation are important at every stage of a program.

Project Number: 46371-002
Project Name: Strengthening Economic Management Program II
Report Date:
Lesson
Strong government ownership and effective program coordination are essential.

Project Number: 46371-002
Project Name: Strengthening Economic Management Program II
Report Date:
Lesson
Consolidate gains before introducing further reforms.

Project Number: 46371-002
Project Name: Strengthening Economic Management Program II
Report Date:
Lesson
Legislative and political risks should be examined carefully.

Project Number: 46371-002
Project Name: Strengthening Economic Management Program II
Report Date:
Lesson
Technical assistance is usually expected in order to assist the borrower and theexecuting agency to achieve the program’s policy requirements. On the other hand, having theleverage of a relatively large amount of grant or loan funding can often provide an incentive forgovernments to institute policy measures on a timely basis when they might otherwise bedelayed or avoided due to internal resistance or inertia.

Project Number: 46371-001
Project Name: Strengthening Economic Management Program
Report Date:
Lesson
Policy-based loans can be successfully designed to provide an integrated approach to policy reforms by (a) leveraging constructive policy dialogue, (b) incorporating tailored policy interventions, and (c) ensuring implementation support and capacity development through TA

Project Number: 46371-001
Project Name: Strengthening Economic Management Program
Report Date:
Lesson
Execution of pilot projects is valuable for (a) assessing ease of implementation, adaptability and potential for full-scale implementation; and (b) for identifying new potential bottlenecks and areas requiring further reforms. The successful pilot testing of a new property valuation method (PVM) demonstrated the potential for substantially increasing local revenues from property taxes as anticipated, but also contributed to potential revisions of the outdated tax laws.

Project Number: 46371-001
Project Name: Strengthening Economic Management Program
Report Date:
Lesson
Carefully aligning objectives and outputs of ADB program loans with related TA can help increase effectiveness and sustainability, and ensure efficient implementation of both ADB interventions and ADB TA recommendations. By incorporating related TA deliverables into the program design, the program helped ensure high-level government commitment to policy reforms and accelerate implementation of highly relevant TA recommendations, which may otherwise not have received the same level of attention and commitment.

Project Number: 46371-001
Project Name: Strengthening Economic Management Program
Report Date:
Lesson
Active stakeholder consultations during both program inception and implementation are imperative for creating a strong sense of government ownership, and ensuring commitment by all stakeholders to achieving the required policy actions under ADB program loans. Policy actions must be thoroughly assessed, clearly defined, relevant, and achievable within the required time frame, in particular when quick release of funds is critical for urgent budget support in crisis situations.

Project Number: 46371-001
Project Name: Strengthening Economic Management Program
Report Date:
Lesson
Financial crises may pressure a government to initiate policy reforms, and provide opportunities for development partners to introduce international best practices through policy-based loans. A key challenge in this context is to ensure that reforms introduced in response to emergency conditions are sustained in the post-crisis period. For the program, implementation of policy actions progressed as planned, and tranche 2 policy actions were achieved ahead of schedule, illustrating the broad political and institutional commitment to continued and sustainable reforms.

Project Number: 46371-001
Project Name: Strengthening Economic Management Program
Report Date:
Lesson
Policy reforms are largely politically driven. The involvement and roles of government, stakeholders and politicians and the benefits to each party are important considerations in the design and implementation of policy-based loans. With a change in government in 2013, actions initiated under the program could have been altered, reversed or subject to delays or resistance. However, the program initiatives were fully endorsed by the new government, demonstrating that the program was well thought out and designed to transcend politics.

Project Number: 46371-001
Project Name: Strengthening Economic Management Program
Report Date:
Lesson
Under the Financial Sector Development Program, the development and approval of key financial sector legislation was an important contribution to sector development. While the delays were inevitable, closer, longterm, in-country dialogue with the government would have been beneficial. This dialogue and close program monitoring will be enhanced by the establishment of a resident mission in Bhutan. ADB has been a long-standing partner of Bhutan's financial sector development since the beginning.

Project Number: 37164-023
Project Name: Financial Sector Development Program
Report Date: