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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
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
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
Apart from offering concessional interest rates,ADB and China National Investment and Guaranty Corporation (I&G) could explore providing enhanced value-added services for ongoing and future financial intermediation loan initiatives in air quality improvement or climate change programs. The global economic slowdown dampened enthusiasm for green investments, while the rise in euro interest rates and the reduction of yuan lending rates since 2022 presented additional challenges for green financing eligible subprojects within the greater Beijing–Tianjin–Hebei region.

Project Number: 50096-002
Project Name: Air Quality Improvement in the Greater Beijing–Tianjin–Hebei Region—China National Investment and Guaranty Corporation’s Green Financing Platform Project
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Lesson
The selection of appropriate project financing modality (through feasible project design) in line with country capacities is a crucial factor in achieving complex project objectives and overall project success. Availability of financing that is time-bound, such as multitranche financing facilities or sector lending puts the onus on the counterpart government to ensure project readiness from its side.

Project Number: 35448-013
Project Name: Omnibus Infrastructure Development
Report Date:
Lesson
ADB may need to consider greater flexibility to allow an extension of the availability period of loans under the multitranche financing facility, where deemed appropriate. Because of various delays, the investment program's availability period was extended to 10 years and ended on 24 November 2020. Government requests to extend the availability beyond 2020 were declined by ADB.

Project Number: 41504-013, 41504-023, 41504-025
Project Name: Town Electrification Investment Program (Multitranche Financing Facility and Tranche 2)
Report Date:
Lesson
An alternative approach for the Completion of projects halted by the closure of the availability period of MFF-financed loans needs to be explored. This is especiallly important for projects with considerable stranded investments (e.g., stranded investments in the Ramazon HPP included $3 million for transmission line and $3 million for site Preparation). To continually implement the Ramazon HPP, the PNG Power Ltd.

Project Number: 41504-013, 41504-023, 41504-025
Project Name: Town Electrification Investment Program (Multitranche Financing Facility and Tranche 2)
Report Date:
Lesson
The results-based lending (RBL) modality provides flexibility to adjust targets adversely affected by unforessen adverse events such as COVID-19. During 2020–2022, the COVID-19 pandemic affected the demand for electricity, lowering the State Electricity Company's (PLN) revenues and creating uncertainty in its investment plans. Sourcing equity financing and implementing ongoing projects within PLN became difficult under such conditions and adjustments were needed in scope and time targets of ongoing works.

Project Number: 50016-001
Project Name: Sustainable Energy Access in Eastern Indonesia—Electricity Grid Development Program
Report Date:
Lesson
Collaboration with development partners is essential to build consensus for reforms. Donor consensus and support for critical reforms, backed by a policy-based loan and plan to subsequently complement by project-level funding, contributed to the success of this program. Continued long-term engagement on reforms supported by investments is necessary for sustainability.

Project Number: 49006-003
Project Name: Electricity Transmission Sector Reforms Program
Report Date:
Lesson
To ensure project success, the commitment, ownership, and accountability of the executing agency are critical factors when formulating a project implementation plan. These need to be supported by adequate expertise and capacity of the agency in managing project implementation.

Project Number: 41614-013, 41614-036
Project Name: Assam Power Sector Enhancement Investment Program (Tranche 4 and Multitranche Financing Facility
Report Date:
Lesson
It is important to have tranche-specific DMFs that are logical, with sound links of outcome and output targets that are formulated in line with the principle of being specific, measurable, achievable, relevant, and timebound. For a specific tranche, the outcome and output indicators can jointly work to reflect the appropriateness and continuum of the results chain leading up to the high-level development impacts that are most relevant to the scope and focus of the tranche.

Project Number: 37139-023
Project Name: Uttaranchal Power Sector Investment Program - Tranche 1
Report Date:
Lesson
Providing technical assistance to strengthen the institutional capacity of newly established states, executing agencies, and implementing agencies is essential. Including capacity building activities could enable smooth project implementation, in line with ADB guidelines. However, a caveat is to avoid an optimistic assumption that the absorptive and implementation capacity of the executing and implementing agencies would achieve a significant improvement right after the technical assistance and capacity building activities.

Project Number: 37139-053
Project Name: Uttarakhand Power Sector Investment Program (Tranche 4 and Multitranche Financing Facility)
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
The MFF modality can allow DISCOMs to tailor the tranche subprojects according to the distribution networks' priorities and complement other rural development programs being implemented at the time. Most upgrade of 0.4 kV feeders to 11 kV feeders, about half the aerial bundle conductors and new connections, and a third of the meters were implemented under other ongoing programs.

Project Number: 43467-015
Project Name: Madhya Pradesh Energy Efficiency Improvement Investment Program - Tranche 1
Report Date:
Lesson
The multitranche financing facility (MFF) has the key advantage of providing predictable, long-term support to the priority investments of developing member countries. This MFF was a continuation of the long-term partnership between the Government of Assam and ADB. It helped modernize Assam’s entire energy sector by achieving 100% electrification of the state through investments worth billions of dollars of which the MFF was only a small part.

Project Number: 41614-013, 41614-036
Project Name: Assam Power Sector Enhancement Investment Program - Tranche 4 and Multitranche Financing Facility
Report Date: