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Lesson
The timing of scope changes need to be carefully planned, especially taking account of the possible implementation disruptions these can cause. Adjustments to the design and monitoring framework need to be made to reflect scope changes and other design modifications undertaken during implementation.

Project Number: 52070-001
Project Name: South Asia Subregional Economic Cooperation Regional Energy Cooperation
Report Date:
Lesson
Appropriate metrics need to be ensured for each level of the results chain. The output indicators measured outcomes or benefits rather than the physical interventions contracted. That impacted the measurement of output performance during implementation.

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Clear identification and selection of appropriate performance target indicators during the project design stage supports the achievement of a project’s intended outcome. Adequate technical assessment on outcome and output target indicators facilitates clear tracking and measure of project’s achievement at completion. Furthermore, the importance of target indicators and its consistency between outcome and output statements are essential to demonstrate the project results.

Project Number: 44240-014
Project Name: Thimphu Road Improvement Project
Report Date:
Lesson
Design and monitoring frameworks (DMFs) need to have all the necessary Indicators as well as flexible timelines to effectively be used as planning, monitoring, and evaluation tools. Given the breadth of the program, the DMF should have included at least one indicator for each reform area to better monitor the outcome and long-term impact of key policy actions. Although three new outcome Indicators were included in subprogram 3, these mainly covered financial inclusion and nonperforming loans.

Project Number: 51252-003, 51252-004, 51252-005
Project Name: Financial Market Development Program
(Subprograms 1; 2; and 3)
Report Date:
Lesson
Adequate technical assessment during appraisal is important to ensure output targets are completely identified and properly designed. Because of inadequate technical assessment of the road surface conditions and the lack of a comprehensive road safety audit, this project's output targets were limited.

Project Number: 44240-014
Project Name: Thimphu Road Improvement Project
Report Date:
Lesson
Early feasibility studies can be important mechanisms to assess institutional gaps, ensure alignment of the outputs and indicators with future proposed actions, and make any adjustments to the TA approach and the DMF as appropriate.

Project Number: 45419-001
Project Name: SASEC Subregional Energy Efficiency Initiative
Report Date:
Lesson
Continuity of actions and decisions is bolstered when there are regional coordination bodies to disseminate information and continue momentum.

Project Number: 45419-001
Project Name: SASEC Subregional Energy Efficiency Initiative
Report Date:
Lesson
Adopting a longer-time frame for a TA involving cross-border cooperation helps fulfill the member countries’ respective processes and requirements, including continuous facilitation support.

Project Number: 47107-001
Project Name: South Asia Subregional Economic Cooperation CrossBorder Power Trade Development
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
While the SASEC EE roadmap and action plan were approved and the implementation guidelines were formulated, the SASEC and Sri Lanka regional coordination center needs to be created as recommended to ensure continuity in the actions, consistency and fairness in the implementation of the various EE programs, and that a proper dissemination of the results obtained is systematically implemented and cumulative benefits will result from the implementation of the SASEC EE roadmap and action plan.

Project Number: 45419-001
Project Name: SASEC Subregional Energy Efficiency Initiative
Report Date:
Lesson
Countries have shown a lot of interest and commitment for cross-border power trade activities. However, such activities take longer time to fulfill their respective processes and requirements and continuous facilitation support.

Project Number: 47107-001
Project Name: South Asia Subregional Economic Cooperation CrossBorder Power Trade Development
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: