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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
No additional lessons

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

Project Number: 30295
Project Name: Second Financial Sector Program Loan Cluster—Subprograms 1 and 2
Report Date:
Lesson
Timely project completion report (PCR) is important for maintaining policy dialogue and assessing the need for follow-up actions and future assistance. Project Administration Instruction No. 6.07A recommends that the PCR be prepared between 1-2 years after project completion. In the case of Rural Financial Sector Development Program (RFSDP) program loan, the second (and final) tranche was released in February 2006. The bulk of activities under Project 1 and Project 2 were completed in 2008.

Project Number: 34320-013
Project Name: Rural Finance Sector Development Program
Report Date:
Lesson
The program loan tranches were front-loaded, with $35 million of the total program amount of $50 million programmed for the first two tranches. The first two tranches were largely preparatory measures and intermediate steps. Had the program been back-loaded with relatively larger amounts allocated to the third and fourth tranches, it is possible that the authorities would have been more inclined to implement some of the more difficult reform measures.

Project Number: 34320-013
Project Name: Rural Finance Sector Development Program
Report Date:
Lesson
Overly ambitious and complex projects are less likely to be successful. The Program objectives had a strong rationale and the design was technically sound. However, in view of the weak implementation capacity of the executing agency and the implementing agencies, the Program would likely have yielded better results with a more focused and prioritized set of policy actions and project activities. Moreover, the Rural Financial Sector Development Program was approved only three months prior to the April 2004 parliamentary election.

Project Number: 34320-013
Project Name: Rural Finance Sector Development Program
Report Date: