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Lesson
Over the course of publishing three CSIF knowledge products, the TA could induce active involvement of the CSIF members raising awareness on the importance of regional market infrastructure for boosting intraregional investments among the members

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
The TA was financed by Republic of Korea e_x005F_x0002_Asia and Knowledge Partnership Fund (EAKPF), and the budget was executed prudently and transparently as planned through close coordination with EAKPF Fund Team. Thanks to EAKPF’s funding, the TA could closely collaborate with the Government of the Republic of Korea, hire an expert from Korean financial market as a consultant, and expand its network to Korean markets, all of which contributed to effectually generating the outputs and the outcome of the TA.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
Since the CSIF, which the TA supports has been a regional discussion platform under the ABMI TF4, consensus among members on subject matters was, and is, essential. To ensure regional consensus, the combination of inducing active participation of the members and engaging close consultation with ASEAN+3 government officials is quite important. In addition, further engagement with the private sector is more desirable, though the preference of the members is still informal and closed.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
Infrastructure development requires substantial preparedness and investment in both time and money. Particularly, a cross_x005F_x0002_border project would require more time and efforts than a national project for coordination among different jurisdictions, thus, planning and implementation arrangement would require flexibility. In addition, rapid advancement in technology would affect IT architecture design, thus, additional flexibility as well as wider involvement of various stakeholders would be desirable.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
The Japan Ministry of Finance and Japan International Cooperation Agency have been strong supporters of ACMF. ADB staff should explore opportunities to collaborate with these stakeholders in the implementation of future TA projects to provide visibility for their support and leverage on their role within the government and the private sector in Japan. The green bond study visit to Tokyo supported under this TA was a good start.The Investment Climate Facilitation Fund is a good source of TA funding forregional cooperation and integration.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
ADB provides support for capital market integration through the ASEAN as well as the ASEAN+3 processes. The latter is supported by the staff in the Economic Research and Regional Cooperation Department (ERCD). While there was some coordination with ERCD staff in the implementation of this TA, more coordination is required to find synergies between the various regional finance sector TA projects. This will reduce overlaps and produce better outputs by leveraging on the strength and network of counterparts supported by different regional TA projects.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
The independent validation process implemented under the ACGS is good practice for knowledge building. It gives practical information on actual corporate governance practices of PLCs. Many ACMF initiatives have good traction within the region. However, awareness beyond ASEAN is limited. In addition to the existing knowledge sharing of best practices within ASEAN, future support to ACMF should also include engagement with international partners. This includes foreign academic institutions with strong private sector partnerships.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
ADB should explore how to link up ACMF initiatives with other departments of ADB to scale up and so the substantial technical work with ACMF can be made operationally relevant. ACMF’s initiatives on green bonds and corporate governance can help ASEAN member countries develop their capital markets and improve corporate governance standards of PLCs. There is also potential replication to other regional groupings outside ASEAN including the Central Asia Regional Economic Cooperation.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
A subsequent phase with an approved budget of $9.09 million was approved on 3 October 2019. An increase in TA amount and minor change in scope memo is being processed by the user unit to include a $2 million contribution from the United States. This will be the first contribution from the United States.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
A total of 24 knowledge products were developed during this TA. Examples of successful and effective hand-over projects include the Pacific utilities benchmarking performance work of PRIF to the Pacific Water and Wastewater Association (PWWA) and to the Pacific Power Association (PPA). The 2016 PWWA benchmarking report was released during the Pacific Water conference and Expo in Tonga, August 2016. The report was based on the indicators developed during 2013 PWWA benchmarking exercise supported by PRIF.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
The TA design and monitoring framework was well devised with sufficient flexibility to respond to the countries’ demands and to the PRIF partners’ demands as the TA progressed—a key feature of the PRIF’s coordination arrangements.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
Fluctuations in committed and in effective financial contributions from the PRIF partners led to some uncertainties in allocating resources and in budgeting assistance programs. It was not possible to process the European Investment Bank planned cofinancing commitment of $1.1 million equivalent due to legal issues preventing the ability to conclude a cofinancing mechanism and agreement with ADB. During the TA period, ADB built on the constructive working relationship with the Governments of Australia and New Zealand.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
Significant changes to the PRIF CO staff (3 to 6 full time staff with 14 different consultants hired under 21 individual contracts) led to challenges in the delivery of services. An operational review conducted in 2018 proposed new operational structures to address “the need for longer-term funding certainty and broader funding base” and “the desire to provide greater stability in PRIF CO management and PRIF CO core team.” Majority of the individual consultants engaged for the TA performed satisfactorily.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
PRIF partner and stakeholder involvement and participation in PRIF activities, including attendance at SWG coordination meetings or support to the 51 subprojects’ implementation committees. Among the key challenges met was the wide range of assistance expectations from the PRIF partners and the stakeholders and the reconciliation of those expectations with the available PRIF CO resources. This was achieved through the dynamic “management committee/SWG” driven work prioritization mechanism.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date:
Lesson
The implementation of PMC-approved activities led to the production of 78 technical reports and publications. This was executed through the recruitment of 146 consultant contracts including 6 consulting firms, 132 individual consultants and 8 resource persons.

Project Number: 46500-001
Project Name: Establishment of the Pacific Regional Infrastructure Facility Coordination Office
Report Date: