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Lesson
Carefully assess effective demand for new instruments. For projects where similar models do not exist in the local market, more exhaustive studies and analyses of the demand and willingness to pay for guarantees covering SME exposure should take place.

Project Number: 36419-013
Project Name: Small and Medium Enterprise Development Support Project
Report Date:
Lesson
An adequate pipeline is needed. More care is needed in establishing a pipeline of PFIs. Due diligence was weak, preventing the participation of more banks before approval or immediately afterwards. Given more participants, the volume of guarantees would have increased and a wider variety of SMEs could have taken part. More exhaustive due diligence is needed in the future, especially in identifying and assessing PFIs. Poor monitoring and supervision of the project by ADB contributed to the low utilization of the facility.

Project Number: 36419-013
Project Name: Small and Medium Enterprise Development Support Project
Report Date:
Lesson
Pricing needs to reflect market demand. The formal price change from ADB came too late to make a difference, since by then the price waivers had been granted. Likewise the first loss provision outlined in the RRP was dropped from the guarantee agreement between ADB and SBC.

Project Number: 36419-013
Project Name: Small and Medium Enterprise Development Support Project
Report Date:
Lesson
There has neither been a follow-up project in the Philippines, nor has ADB financed a similar project elsewhere in the Asia Pacific region. The issue of taking on SME risk against that of the financial intermediary needs resolution before its further application. The PCG facility could potentially be adopted in a number of ADB’s developing member countries, but further work is required to adequately measure and assess the risk-return benefits of the instrument for stakeholders.

Project Number: 36419-013
Project Name: Small and Medium Enterprise Development Support Project
Report Date:
Lesson
Underestimating the impact of staff changes. PSOD preferred to assume financial intermediary risk rather than risk associated with SMEs, which contributed to the delay in raising the credit limit to URC and the selection of new PFIs. ADB staff changes at the project officer level confused SBC and contributed to the lack of continuity and consistency of efforts by ADB.

Project Number: 36419-013
Project Name: Small and Medium Enterprise Development Support Project
Report Date:
Lesson
Better due diligence of financial intermediaries is required. ADB did not adequately assess the risk rating process of SBC or do enough work to understand its processes and procedures. A better understanding of SBC would have enabled ADB to assume more decision-making responsibility on the implementation of the facility. In addition, ADB should have undertaken due diligence of other potential PFIs at appraisal.

Project Number: 36419-013
Project Name: Small and Medium Enterprise Development Support Project
Report Date:
Lesson
Need to proactively monitor facility utilization. The need for effective monitoring was stressed in the RRP, but it was not carried our satisfactorily. Monitoring facility utilization was necessary to guide restructuring, realignment, and modifications, and, where required, to cancel allocations so ADB capital could be deployed more efficiently. ADB originally expected that over time, the PCG facility would allow PFIs to become familiar with SME risks and provide guarantees for a wider range of instruments, which would have prompted more PFIs to participate.

Project Number: 36419-013
Project Name: Small and Medium Enterprise Development Support Project
Report Date:
Lesson
Do not reengage in a sector with poor past performance until the government demonstrates its commitment and ownership by creating an enabling environment for delivery of sustainable outputs.

Project Number: 31197-032
Project Name: Community-Based Infrastructure Services Sector Project (Supplementary Grant)
Report Date:
Lesson
At appraisal, all parts of previous project arrangements should be thoroughly reviewed to identify the real causes of past project implementation issues. For key past problems, new solutions should be sought, rather than trying to modify past arrangements.

Project Number: 31197-032
Project Name: Community-Based Infrastructure Services Sector Project (Supplementary Grant)
Report Date:
Lesson
Despite the urgency of government requests for additional financing, conduct a thorough due diligence on all government entities involved and ensure that the available resources fit the scope of the project.

Project Number: 31197-032
Project Name: Community-Based Infrastructure Services Sector Project (Supplementary Grant)
Report Date:
Lesson
Understand that project implementation will require significant ADB staff resources, and allocate resources for additional support to bolster areas where project implementation was previously weak.

Project Number: 31197-032
Project Name: Community-Based Infrastructure Services Sector Project (Supplementary Grant)
Report Date:
Lesson
The conduct of a project preparatory technical assistance (PPTA) should be a necessary condition before undertaking a lending operation for technical education and vocational training. A PPTA could have helped to understand the institutional context, including possible political–economic factors that were in play.

Project Number: 36654-013
Project Name: Restructuring of the Technical Education and Vocational Training System Project (Balochistan)
Report Date:
Lesson
Make sure that the risk is mitigated and mitigation measures are implemented effectively, most especially when the lack of commitment is a high risk.

Project Number: 38405-013
Project Name: Mega City Development Project
Report Date:
Lesson
The project design did not have an adequate analytic base that should have included an assessment of stakeholders and their capacities, and provisions for alignment due to changes introduced by the LGO 2001;

Project Number: 27182-013
Project Name: North-West Frontier Province Urban Development Sector Project
Report Date:
Lesson
Previous project and/or sector experience in Pakistan was not internalized and reflected in the design—the risk of underestimating capacity constraints could have been mitigated with a risk management strategy;

Project Number: 27182-013
Project Name: North-West Frontier Province Urban Development Sector Project
Report Date: