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Lesson
Involve the Nepal Resident Mission to a greater degree so that problems may be diffused sooner, rather than relying on ADB review missions to react to them later.

Project Number: XXXXX
Project Name: Kali Gandaki “A” Hydroelectric Project
Report Date:
Lesson
Delays occurred frequently in meeting conditions of loan effectiveness, recruiting consultants, and awarding contracts.

Project Number: XXXXX
Project Name: Kali Gandaki “A” Hydroelectric Project
Report Date:
Lesson
Vigilance needs to be exercised in maintaining market-based principles for sound and sustainable microfinance operations. The issuance of EO 558 initially threatened the foundation of the government’s market-based financing strategy for the sector. It did not have any significant adverse impact on the policy environment, as the market-oriented framework was already well established and institutionalized in the sector.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
NAPC’s information system capacity should have been assessed earlier. An assessment of NAPC’s information system should have been made at the formulation stage. Policy action and TA could have been incorporated in the program design to achieve an effective and functioning information system.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
The program has successfully eased the constraints to expansion of microfinance services, but outreach to the poor needs to be improved. Within the broad context of inclusive growth, the growth and commercialization of the microfinance sector increased access to financial services, created jobs, and increased financial literacy. However, outreach to households below the poverty line remains limited.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
Key success factors are government buy-in and an appropriately designed program. The key factors that contributed to the success of the MDP were (i) the strong commitment of the government and support from stakeholders to develop the sector and achieve sustainable microfinance; and (ii) a well-designed program that appropriately addressed the key constraints, accompanied by TA to support the program objectives and a grant for capacity development.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
Developing the microfinance sector entails a comprehensive approach that addresses key constraints at all levels. First, it entails enhancing the policy and regulatory environment. Second, it means developing the market infrastructure. In the case of the MDP, it was developing and adopting the performance standards for microfinance and drafting the bill for the credit information system that was successfully passed into law. Third, it means developing the capacity of MFIs for sound and sustainable microfinance operations.

Project Number: 38579-013
Project Name: Microfinance Development Program
Report Date:
Lesson
Experienced foreign investors in power generation have access to private sector technical insurance that sovereign entities may not otherwise have. This is important when technical problems arise that cause major shutdown of operations, as was the case of AKL due to a 2004 fire. Private sector insurance enables unforeseen technical problems to be fixed along with compensation to the insured for revenue loss due to the incident. Foreign investors can leverage important insurance that is often difficult for sovereign entities to acquire.

Project Number: 34912-014
Project Name: AES Kelanitissa Power Project in Sri Lanka
Report Date:
Lesson
Close examination and assessment of real capacity is necessary in analyzing economic and financial benefits for private sector power plant projects supported by ADB. Nameplate capacity needs to be considered in the context of a plant’s capacity factor. No power plant runs 100% of the time, and power plants, like that of AKL, that run on auto diesel fuel will need to shut down routinely for scheduled maintenance. Routine maintenance combined with unscheduled shutdowns lower actual net capacity.

Project Number: 34912-014
Project Name: AES Kelanitissa Power Project in Sri Lanka
Report Date:
Lesson
Risk of lost revenues due to delayed commissioning and unplanned shutdown associated with mechanical failures can be mitigated by requiring expert power plant developers sponsored by ADB to provide more oversight and guidance to construction contractors.

Project Number: 34912-014
Project Name: AES Kelanitissa Power Project in Sri Lanka
Report Date:
Lesson
It is prudent for ADB to consider alternative fuels when appraising the cost and benefits of oil-fired generation plants. Alternative fuels consist of renewable energy sources and thermal fuels, including clean coal options. Private sector support to the power sector is optimized with a comparative analysis of real fuel options.

Project Number: 34912-014
Project Name: AES Kelanitissa Power Project in Sri Lanka
Report Date:
Lesson
No additional lessons

Project Number: 40909-014
Project Name: Equity Investment in Bank of Hangzhou
Report Date:
Lesson
No additional lessons

Project Number: 39905-014
Project Name: Municipal Natural Gas Infrastructure Development Project
Report Date:
Lesson
The validation concurs with these issues and would also add that uncertainty remains regarding the Afghanistan private sector‘s overall ability to absorb credit even when available. Another uncertainty is AIB‘s ability to make up, through increased regular lending to private customers and investing in alternative assets overseas, for the inevitable loss of special situations of the sort (e.g. a sharp reduction in the US army deposits), which had provided AIB some measure of its financial success vis-à-vis very wide interest spreads gained by investing idle US Army cash balances in 12+%.

Project Number: 37903-014
Project Name: Equity Investment in Afghanistan International Bank
Report Date:
Lesson
The establishment of skills standards was one of the main thrusts of the project which was not attained in view of weak capacity. As such, a phased approach could have been useful to take into account the limited technical capacity to formulate and implement skills standards, testing, and certification of trained workers. This could have been undertaken under a separate program prior to the project, covering a longer period of time and targeting priority employment areas.

Project Number: 33166-013
Project Name: The Marshall Islands: Skills Training and Vocational Education Project
Report Date: