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Lesson
Establishing high-level steering committees and working groups to ensure smooth coordination among various government agencies is an important element in the success of reform implementation, In this project, it entailed the operationalization of the Pakistan Single Window (PSW), a complex undertaking that required close coordination with various government agencies for efficient trade facilitation.

Project Number: 52049-001, 52049-003
Project Name: Trade and Competitiveness Program (Subprograms 1 and 2)
Report Date:
Lesson
With the government’s response to the COVID-19 pandemic severely affecting MSMEs, risks from further implications and possible pandemics in the future need more attention in the program’s assessment moving forward.

Project Number: 48134-001, 48134-006, 48134-007
Project Name: Stepping Up Investments for Growth Acceleration Program (Subprograms 1, 2, and 3)
Report Date:
Lesson
In implementing the PPPs and in establishing the PPP unit, specific actions could have been better emphasized to ensure that such projects are affordable to the poor and that these are gender and socially conscious. Providing varied financing mechanisms for different forms of PPPs—such as viability gap funding, availability-based, and Islamic bond financing—were innovations that could be repeated in future projects.

Project Number: 48134-001, 48134-006, 48134-007
Project Name: Stepping Up Investments for Growth Acceleration Program (Subprograms 1, 2, and 3)
Report Date:
Lesson
It is important for Indonesia to focus on improving the procedures to enable micro, small, and medium enterprises—the basis of the Indonesian economy—not only to start a business but also to expand the existing ones

Project Number: 48134-001, 48134-006, 48134-007
Project Name: Stepping Up Investments for Growth Acceleration Program (Subprograms 1, 2, and 3)
Report Date:
Lesson
Interagency coordination is important in achieving policy consistency and harmonization

Project Number: 50254-001
Project Name: South Asia Subregional Economic Cooperation Customs Reform and Modernization for Trade Facilitation Program
Report Date:
Lesson
Technical assistance (TA) support with clearly defined deliverables that are incorporated in the program design and implementation can help strengthen institutional capacity and the government’s commitment to reforms.

Project Number: 50254-001
Project Name: South Asia Subregional Economic Cooperation Customs Reform and Modernization for Trade Facilitation Program
Report Date:
Lesson
This validation agrees with the recommendation and rephrases this as a lesson: Partnering with operational projects within ADB is an important step in ensuring that other DMCs outside ASEAN can develop their capital markets and improve governance standards of publicly listed companies.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
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Lesson
Identifying critical risks and assumptions are an important element of design. However, design could also usefully identify mechanisms to mitigate these risks.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation has rephrased the recommendation into a lesson as follows: Providing adequate visibility to partners who have either financed the project or have special interest and stake in seeing its success is necessary to ensure their continued support.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
Drawing on lessons from similar previous TA projects can help in robust design that is responsive to DMC needs, isrealistic, and adopts best practice. This could help to get greater stakeholder engagement in complex processes such as regional capital market integration.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation offers the following lesson: it is important to work and clearly communicate with ACMF and its working groups to get buy-in to the TA project. This is evident in how stakeholders noted their appreciation to this approach.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation agrees with the lesson of building awareness for the work done under the TA project. However, it is unclear why awareness-building beyond ASEAN is required for this TA project. One can surmise that it could be for the goals of attracting capital. However, the role of partnership with foreign academic institutions is unclear beyond the publication of potential knowledge products. This lesson or recommendation should then be classified under partnership and cofinancing.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation offers the following lesson: although TA design may identify a particular model of consultancy, these needs may evolve during the program requiring adjustment. In this case, in developing a model that responded to the needs of ACMF’s working group on corporate governance, the TA project shifted its approach since the regulators felt that an audit firm (rather than consultants) would lend more credibility and recognition to the validation exercise.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation offers the following lesson: keeping the stakeholders engaged through national interventions and securing sources of post-TA financial resources (unless the TA project was a project preparation TA) is important especially for capacity building TA projects, to ensure continuity and sustainability of the project.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date:
Lesson
This validation agrees that cooperation and coordination, especially with other ADB departments, is important. This was a missed opportunity for this TA project. It is, however, not clear though why a visit to the People's Republic of China is required or recommended for the next ACMF TA.

Project Number: 48143-001
Project Name: Enhancing Association of Southeast Asian Nations Capital Market Integration
Report Date: