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Lesson
Apart from offering concessional interest rates,ADB and China National Investment and Guaranty Corporation (I&G) could explore providing enhanced value-added services for ongoing and future financial intermediation loan initiatives in air quality improvement or climate change programs. The global economic slowdown dampened enthusiasm for green investments, while the rise in euro interest rates and the reduction of yuan lending rates since 2022 presented additional challenges for green financing eligible subprojects within the greater Beijing–Tianjin–Hebei region.

Project Number: 50096-002
Project Name: Air Quality Improvement in the Greater Beijing–Tianjin–Hebei Region—China National Investment and Guaranty Corporation’s Green Financing Platform Project
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Lesson
Exploring the potential for private sector participation in the project helps improve project results further. For instance, during project design stage, the private sector’s role in the purchase and processing of the products is an alternative that could strengthen complementarities with the public goods provision. More attention to private sector participation could be looked into in similar future projects.

Project Number: 44035-014
Project Name: Ningxia Irrigated Agriculture and Water Conservation Demonstration Project
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Lesson
Given a project area with a high proportion of ethnic minorities, active engagement of targeted beneficiaries in design and planning helps in providing incentives for them to take part in the project activities. Hui minority was involved during the preparatory and implementation stages of the project, which helped them to have better access to improved irrigation systems and up-to-date farming techniques.

Project Number: 44035-014
Project Name: Ningxia Irrigated Agriculture and Water Conservation Demonstration Project
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Lesson
Close monitoring of and prompt responses to policy changes ensure smooth implementation and compliance to covenants. During project implementation, the executing agency took prompt action to change the scope of the project when one of the original subcomponents was not in compliance with the new issued development plan. This enabled the project to avoid compliance issues and be carried out smoothly.

Project Number: 44019-013
Project Name: Hubei Huangshi Urban Pollution Control and Environmental Management Project
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Lesson
A well-designed RBL can make program implementation more efficient and reduce transaction costs during program implementation. This came about in this program with the disbursement-linked Indicators (DLIs) focusing on the main elements of the results chain and framework in the process highlighting the importance of teachers’ and managers’ capacity building and competency-based curriculum (CBC) development, which built a solid foundation for TVET’s sustainable development in Guizhou.

Project Number: 48101-003
Project Name: Guizhou Vocational Education Development Program
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Lesson
The results-based lending (RBL) modality provided an integrated arrangement for the provincial government to improve the provincial TVET system. The comprehensive program results framework and management information allowed the government to closely monitor and evaluate the progress of the development of demonstration TVET institutions and accelerated their development.

Project Number: 48101-003
Project Name: Guizhou Vocational Education Development Program
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Lesson
ADB’s Safeguard Policy Statement (2009) fits well with the RBL modality with comprehensive due diligence review conducted at appraisal and adequate action items integrated into a program action plan and implemented accordingly. The external resettlement Monitoring and evaluation arrangement proved essential to ensure implementation of the proposed actions and to assess the income and livelihood restoration of affected people.

Project Number: 48101-003
Project Name: Guizhou Vocational Education Development Program
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Lesson
Support from experts in safeguards, financial management, procurement, and other aspects was necessary to implement this first RBL in the country. Although the overall fiduciary system of the program was sound, some schools had weak capacity and needed extra support during program implementation.

Project Number: 48101-003
Project Name: Guizhou Vocational Education Development Program
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Lesson
Changing mindsets from traditional investment to RBL could take time, requiring all stakeholders to have an in-depth understanding of the RBL modality. The provincial government and education department’s strong commitment to the program has powered ts success.

Project Number: 48101-003
Project Name: Guizhou Vocational Education Development Program
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Lesson
Consideration of the range of alternative modalities helps strengthen the project formulation phase. In the case of this project, this type of assessment could have examined the merits of a project investment vis-à-vis a sector loan in the choice of the modality. If this project had been formulated as a sector project, each of the diverse candidate subprojects would have been analyzed prior to investment, allowing those that were economically unviable or potentially damaging (from an environmental or social point of view) to be dropped and substituted by more viable ones.

Project Number: 43049-013
Project Name: Comprehensive Agricultural Development Project
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