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Lesson
The post-program monitoring framework (PPMF) is a useful instrument in helping ensure the sustainability of reforms and providing a basis for continued ADB dialogue and support. The PPMF was a useful input to the design of the ADB policy-based loan supporting the Financial Market Development and Integration Program in 2012. It is also a good practice for ADB to support a post-monitoring program with technical assistance. However, the PPMF should monitor not only actions and outputs but also outcomes.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date:
Lesson
The coverage of accompanying TA to support implementation of the reforms should match the scope and complexity of the program. The $1.5 million TA project was aimed at supporting the continuation of the reforms beyond the CMDPC, including the policy measures in the post-program monitoring framework. The other TA project amounting to $1.2 million TA project, with limited components, supported the implementation of a $600 million loan program with 93 policy actions to be completed by several government agencies.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date:
Lesson
Program design should be focused and selective, with a limited number of policy actions to ensure effective implementation and monitoring. The CMDPC supported a complex program with 93 policy actions (46 for subprogram 1 and 47 for subprogram 2). Limiting the number of policy actions in a program is consistent with the IED recommendations in the evaluation of ADB assistance to capital market development in 2008.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date:
Lesson
The long-term nature of capital market development requires a road map with clear sequencing and prioritization of reforms as well intermediate and long-term outcomes, with periodic updating. A longer term and flexible framework for reforms, supported by a timely monitoring and evaluation system, would provide a context for the phasing of reforms and identifying the content of specific programs which typically cover 3–5 year periods.

Project Number: 32507-013, 32507-023, 32507-032
Project Name: Capital Market Development Program Cluster (Subprograms 1 and 2)
Report Date:
Lesson
Limited capacity of government staff should be considered in designing reform programs. The 34 policy actions for a crisis response operation stretched out the government’s capacity in absorbing a substantial reform agenda. Constraints to capacity were reflected in the delays in complying with the policy actions, in particular with the policy action on financial ratios, which resulted in waiver of this action.

Project Number: 43152-012
Project Name: Economic Support Program
Report Date:
Lesson
Reform prioritization and sequencing could lead to more durable results. A steady, step-by-step pace of reforms may be more suitable in the Tongan context, given prevailing capacity constraints. The process of implementing reforms takes time, especially for reforms that require specialized skills, such as those in PFM and those that are structural in nature; these types of reforms take time to implement and cannot be completed by a single quick-disbursing stand-alone program.

Project Number: 43152-012
Project Name: Economic Support Program
Report Date:
Lesson
Consultation for land acquisition is difficult. In the project, two sections (0.5% of the project roads) are not yet completed owing to difficulty in acquiring the land. The NHAI recently adopted a policy that construction procurements will be started only when more than 80% of land acquisition is completed. However, even if this policy had been adopted in the project, the project still might not have resolved the issues it faced. Land acquisition is a difficult issue in India, and lack of careful consultation with landowners can lead to delays in the acquisition of land for roads.

Project Number: 34420-013, 34420-023
Project Name: National Highway Corridor (Sector) I Project
Report Date:
Lesson
Seamless transport across state boundaries is lacking. The east–west national highway corridor was improved significantly between Chittorgarh and Kanpur, and travel time was reduced. For example, the travel time from Shivpuri to Jhansi (100 km) decreased by 1 hour. However, trucks carrying goods must spend 1.5 hours at state border checkpoints to get tax and customs clearances to cross. The World Bank’s Logistic Performance Index, which ranks 160 countries every 2 years, ranked India 25th in 2016, up from 54th in 2014.

Project Number: 34420-013, 34420-023
Project Name: National Highway Corridor (Sector) I Project
Report Date:
Lesson
Delays in sections outside the project scope in the same corridor can have big impacts on a project. The Kota bypass, which is in the middle of the Chittorgarh–Kota and the Kota–Baran sections, was not completed owing to the collapse of the bridge under construction at the time of IEM fielding. Although the bypass is not within the scope of the project, the delay of its completion affected the traffic on adjacent sections of the project.

Project Number: 34420-013, 34420-023
Project Name: National Highway Corridor (Sector) I Project
Report Date:
Lesson
Build–operate–transfer (BOT) schemes have large risks but can be successful in high-traffic sections. The BOT annuity concessionaire for the Orai-Baran section, with higher traffic than expected, represents a successful case. However, in many cases BOT schemes in India are not successful. BOT concessionaires need to take large risks as (i) lack of achievement of expected traffic volumes owing to external factors such as the unexpected opening of competitive roads and construction delay in adjacent sections, and (ii) delays in land acquisition.

Project Number: 34420-013, 34420-023
Project Name: National Highway Corridor (Sector) I Project
Report Date: