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Lesson
By advancing sector reforms, a facility TA, which involves multiple subprojects running concurrently within one framework, can address the risk of losing consistency or coherence among the subprojects. By setting a general policy priority and road map for sector development, the TA will be able to effectively bring its subprojects onto a common path/direction.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
Coherent support by all multilateral development banks, especially when being a first mover in a particular sector, is invaluable. The series of Power Sector Reform Roundtable co-organized by ADB, EBRD, and the World Bank starting in July 2019 provided a platform for this coordinated approach and later provided cofinancing opportunities for the organizers and other development partners.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
Adapting to the changing government priorities facilitates the attainment of tangible outputs. Moreover, in this case, swift adaptation to the changing internal policy environment at ADB and proactive stakeholder consultations transformed risks into opportunities. The TA needs to be flexible enough to respond to the changing conditions of supply and demand, as well as to political and regulatory realities, to maximize tangible outputs.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
A donor coordination platform is helpful in harmonizing reform initiatives and identifying cofinancing opportunities while tracking progress. The government’s donor coordination platform between ADB, European Bank for Reconstruction and Development, and the World Bank played a critical role in harmonizing and developing directions, and in sharing different international experiences.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
TA projects need to incorporate contingency plans to account for unforeseen events, such as global pandemics or other disruptions, to ensure the continuity and success of the projects. It will be useful to coordinate with the nonsovereign and advisory departments at the TA design stage to support the government synergistically.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
Securing strong government commitment and robust support from all stakeholders, including key development partners, is crucial to successful sector reforms and TA implementation. Regular monitoring systems need to be established to report progress to higher authorities, while involving multiple ministries to monitor and balance the reforms.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
A holistic understanding of the direction of sector reforms and a programmatic approach in investment programs, synchronized with the pace of sector reforms, will help build resilience in TA design and deliver a more ambitious agenda than originally planned.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
Technical support and knowledge-sharing opportunities, including those during the TA preparatory phase, strengthen stakeholder cooperation during TA implementation.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
Designating a country focal point will provide the TA an intermediary, collaborating closely with the subprojects’ leaders. This contributes significantly to successful outcomes.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
The programmatic approach taken in the TA—including upstream policy reforms, midstream transaction advisory support, and downstream funding support—along with the One ADB collaboration model for energy transition, has been well-recognized and is being replicated in other developing member countries. This type of TA is instrumental in supporting the government during times of significant changes. The analytical studies in support of policy dialogues and reform measures have been critical in firming up ADB’s leading role in the sector and in leveraging reforms through investments.

Project Number: 52322-002
Project Name: Preparing Sustainable Energy Investment Projects
Report Date:
Lesson
Design and monitoring framework (DMF) indicators that are specific and clear facilitate better assessment of project achievements. Targets that are achievable within the project timeline contributes to the quality of the project design and monitoring.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
Lesson
The project highlighted the importance of safeguarding the nation’s wealth fund (State Oil Fund of the Republic of Azerbaijan or SOFAZ) to ensure that social programs and development priorities are sustained. In times when the nation’s wealth fund can be compromised due to external factors, exploring and pursuing viable funding options to meet the government’s financial obligations can ease pressures on the use of the fund other than its intended purposes.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
Lesson
The Shah Deniz Gas Field Expansion Project is transformational. It has expanded the development of one of the largest gas fields in the world, which will help (i) more than double gas production from the field; and (ii) increase the country’s gas production by 67% during the same period. This will help strengthen the Azerbaijani economy and create more fiscal space for economic diversification.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
Lesson
The partial credit guarantee (PCG) modality was a good choice for this transaction. It enabled ADB sovereign operations to come as close as possible to enabling the IA to obtain commercial financing for a commercially viable project in a country with a below-investment-grade rating. With a One ADB approach, it showed the way to achieve close and collaborative work between ADB’s sovereign and nonsovereign departments. Its 95% cover was important because it facilitated the raising of commercial finance.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
Lesson
ADB played an important role in country risk mitigation. ADB’s partial credit guarantee (PCG) to the Southern Gas Corridor Closed Joint-Stock Company (SGC) made possible SGC’s access to necessary private sector refinancing to meet its financial commitments to Shah Deniz Stage II (SD2) and the midstream pipelines. This reduced government dependence on the country’s dwindling oil and gas revenues held by the State Oil Fund of the Republic of Azerbaijan (SOFAZ) to meet expenditure obligations.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date: