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Lesson
Results-based lending (RBL) is well suited if it is embedded in a wider government-owned and led program. It can be an effective modality for achieving both physical outputs and nonphysical goals. It can also make changes in national policies that go beyond the project’s physical scope. The climate risk assessments, procurement processes, and beneficiary selection criteria used in this program were also applied in non-ADB financed provinces. The instructions issued and policies adopted by the government were “national”in nature and impact.

Project Number: 50022-002
Project Name: Affordable Rural Housing Program
Report Date:
Lesson
The borrower is not obligated to request disbursement of the full amount related to the fulfillment of any disbursement-linked indicator (DLI). Accordingly, ADB disbursement projections can be overly optimistic. This point should be considered in future revisions of RBL policies.

Project Number: 50022-002
Project Name: Affordable Rural Housing Program
Report Date:
Lesson
ADB’s participation in a country-driven program, by bringing knowledge and experience in addition to financing, catalyzes interest and cofinancing from other development agencies. This program was a critical element for enhancing the entire ecosystem of housing financing and mortgage market, helping lay thegroundwork for diversified funding and private sector involvement.

Project Number: 50022-002
Project Name: Affordable Rural Housing Program
Report Date:
Lesson
Promotion of social equity criteria and gender quotas is instrumental in the economic empowerment of vulnerable groups and women.

Project Number: 50022-002
Project Name: Affordable Rural Housing Program
Report Date:
Lesson
While face to face communication would have been better in certain cases, adaptation to pandemic restrictions by adopting new ways of working in addition to being agile and flexible proved adequate and strong enough to successfully implement projects during the pandemic. The program was implemented during a very challenging period when the pandemic was just reaching its peak, the health situation was deteriorating globally, and lockdown measures were being intensified.

Project Number: 51252-003, 51252-004, 51252-005
Project Name: Financial Market Development Program
(Subprograms 1; 2; and 3)
Report Date:
Lesson
Demand-led implementation and strong ownership and consistent government support are critical to the success of financial market reform programs. All stakeholders demonstrated strong commitment to the reform agenda, which led to timely and complete implementation. Sufficient assessment at program appraisal ensured that the strategic objectives of stakeholders were aligned with development objectives.

Project Number: 51252-003, 51252-004, 51252-005
Project Name: Financial Market Development Program
(Subprograms 1; 2; and 3)
Report Date:
Lesson
A structured, holistic, and sequential approach, backed by a comprehensive, medium- to long-term program and sufficient technical assistance (TA,) is critical to the success of financial market reforms. A wide range of reforms covering key pillars of the financial system was incorporated in this program nto enhance legislation, improve regulatory frameworks, introduce new initiatives, and support sustainable capacity building using a structured and sequential approach over the medium term.

Project Number: 51252-003, 51252-004, 51252-005
Project Name: Financial Market Development Program
(Subprograms 1; 2; and 3)
Report Date:
Lesson
Design and monitoring frameworks (DMFs) need to have all the necessary Indicators as well as flexible timelines to effectively be used as planning, monitoring, and evaluation tools. Given the breadth of the program, the DMF should have included at least one indicator for each reform area to better monitor the outcome and long-term impact of key policy actions. Although three new outcome Indicators were included in subprogram 3, these mainly covered financial inclusion and nonperforming loans.

Project Number: 51252-003, 51252-004, 51252-005
Project Name: Financial Market Development Program
(Subprograms 1; 2; and 3)
Report Date:
Lesson
No additional lesson.

Project Number: 35497-013
Project Name: Housing Finance Project
Report Date:
Lesson
Rigorous and fast-paced monitoring and evaluation, which is well suited to the implementation arrangements, is critical in urgently needed and large programs like this one, hence, it needs emphasis in the design of such programs.

Project Number: 40563-013
Project Name: Earthquake-Displaced People Livelihood Restoration Program
Report Date:
Lesson
There are perceptions among some government agencies in Viet Nam that the interest rate should be much lower than market rates and be subsidized. Rather than focusing solely on the financing side, the complex issue of housing for the urban poor also needs to be looked at from the viewpoint of supply side constraints and the willingness of lenders to consider this an appropriate business line. Targeted subsidies that are separate from financing also need to be considered. Again, access to credit is more important than is providing interest rate subsidies.

Project Number: 35497-013
Project Name: Housing Finance Project
Report Date:
Lesson
Careful poverty analysis, a proper demand and supply analysis for housing, better selection criteria, as well as more pro-poor loan procedures and flexibility in the loan size, term, and use would have enhanced the inclusiveness and beneficial impacts of the project. Given the targeted low-income segment and limited institutional capacity, such projects should not be overly complex in design and difficult to implement. Having a variable interest rate on the loan did not help. Fixed interest rates are more appropriate and preferred by low-income and poor borrowers.

Project Number: 35497-013
Project Name: Housing Finance Project
Report Date:
Lesson
A major effort went into training compliance teams and developing compliance manuals used for spotted and reported noncompliance among the home owners. Employing a third party to monitor compliance directly at the household level may be the best way to get a comprehensive picture of the problems involved in the adaptation of seismic standards. Perhaps a greater focus on the ability of the compliance teams to provide on-the-spot solutions to home owners may also have yielded better results.

Project Number: 40563-013
Project Name: Earthquake-Displaced People Livelihood Restoration Program
Report Date:
Lesson
Reconstruction led by communities can be expedited if house design options take into account the local skills, materials, tastes, geography, and culture. Also, innovative money-saving building techniques need local acceptance to be sustainable, but this may require more time and effort devoted to training.

Project Number: 40563-013
Project Name: Earthquake-Displaced People Livelihood Restoration Program
Report Date:
Lesson
Community involvement in owner-driven rehabilitation and reconstruction programs - through training, inspection responsibilities, and village committees - provides the human resources needed for major post-disaster housing reconstruction efforts. It also creates a greater sense of ownership, helps build capacity, reduce disputes and ensures the sustained use of seismic reconstruction techniques in the long term.

Project Number: 40563-013
Project Name: Earthquake-Displaced People Livelihood Restoration Program
Report Date: