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Lesson
Appropriate metrics need to be ensured for each level of the results chain. The output indicators measured outcomes or benefits rather than the physical interventions contracted. That impacted the measurement of output performance during implementation.

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Engineering designs that do not include a proper sludge disposal system in the WWTP design could create long-term challenges. This was resolved under this project through engineering redesign. Potential long-term environmental sustainability issues were consequently avoided

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Inappropriate implementation arrangements could lead to significant implementation challenges. Implementation by thromdes created ground-level coordination challenges among multiple institutions that could have been avoided by restructuring implementation arrangements

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Consulting services for design, monitoring, supervision, and overall project management are important for timely procurement and implementation, and particularly for the complex DBO contracting modality, considering that government agencies in Bhutan are increasingly familiar with and prefer DBO

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Timely and close monitoring of safeguard implementation by trained project management staff and consultants minimizes disruption to communities and facilitates smooth implementation. A grievance redress mechanism was established across all three subprojects; but no grievances were officially recorded.

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Timely processing of changes in scope, implementation, and disbursement arrangements strengthen implementation and enhance project relevance.

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Organizational interventions support and reinforce capacity building for institutional knowledge retention. For instance, organizational intervention, such as handover procedures and an operations manual developed as part of the DBO contract, combined with operation and maintenance staff training to ensure knowledge retention and sustained institutional strengthening in maintaining the operational standards for potable water supply prescribed by the Bhutan Drinking Water Quality Standard, 2016.

Project Number: 44240-013
Project Name: Urban Infrastructure Project
Report Date:
Lesson
Sustained engagement is critical for the successful completion of reform programs. This program benefited from the government’s strong ownership of sector reform. However, it also made the reform program susceptible to changes in policy directions and strategies, especially with changes in political leadership. As an example, renewable energy tariff mechanisms changed multiple times during the program period.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
Report Date:
Lesson
Government leadership and coordination are key to successful sector reforms. The main reason for the delay in completing subprogram 3 was because of the time needed to complete the coordination for a presidential regulation that required more interministerial coordination and agreements than a ministerial regulation. While this additional requirement makes this action more irreversible, overcoming the coordination challenge was not without difficulty. Government leadership for careful coordination was critical in completing this policy action.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
Report Date:
Lesson
A flexible approach to respond to evolving priorities is important in maintaining the relevance of a policy-based loan (PBL) program. At the beginning of this program, further development in the oil and gas sector was a priority. However, during the 8-year program period, the government’s priority shifted to energy transition. Some of the policy actions in subprogram 3 were revised accordingly, in consultation with cofinancing partners, to reflect this development.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
Report Date:
Lesson
It might be useful to develop a climate finance strategy for the state-owned enterprises(SOE) sector, building on the experience and lessons from this program's. Assessment of the fiscal risks associated with climate change was incorporated into subprogram 2. This highlights the significant role SOEs can play in addressing climate change impacts and supporting the countries climate obligations. Given this, it might be useful to establish a climate finance strategy for the SOE sector, building on the experience and lessons from this program.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
It is imperative for SOEs to develop good corporate governance and maintain an arm's length relationship with government, regardless of whether it is a commercial or noncommercial SOE. Some of the policy actions under this program were designed to improve the government's performance of its SOE ownership function. However, in addition to these policy actions, it is imperative for SOEs to proactively promote good corporate governance and develop functional autonomy from the government.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
Additional measures are necessary for the government securities market to stimulate demand from both retail and institutional investors. The program had several supply-based reforms, particularly around the primary dealer system and government bonds; however, turnover velocity was below the target, particularly for the secondary market relating to government securities. This would suggest that additional demand-based measures are as of December 2023 required for the government securities market to stimulate demand from both retail and institutional investors.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
Fiscal reform, pensions, and capital markets reforms are inextricably linked, because of the role each plays in economic development. Subprogram 2 supported the development and approval of the Capital Market Development Strategy, 2022–2028 by government decree, which includes a commitment to develop a green bond framework. This provides a strong basis from which to develop a broader integrated program to support not just fiscal resilience but also further capital market reforms in conjunction with the Finance Sector Office.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
Well planned and logically sequenced policy actions are crucial to maximizing impact of reform programs and ensuring the sustainability of reforms.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date: