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Lesson
It is unlikely that civil servants in the Kyrgyz Republic have the necessary incentives to manage complex projects as unremunerated, part-time project managers, even if they are highly competent. It is also unlikely that public procurement processes can be managed without specialized procurement skills. A fully dedicated project manager and a procurement specialist should have been appointed to the project.

Project Number: 41544-072
Project Name: Investment Climate Improvement Program System Support Project
Report Date:
Lesson
Implementation of a single window for foreign trade is an extremely complex process that requires a long-term commitment and high-level support. It also requires continuous dialogue with all concerned government agencies to lower resistance to change, including by middle managers and operational staff. The project should have had a longer implementation period and should have included a stronger communication and change management component. A project administration manual and a design and monitoring framework (DMF) at an earlier stage could have helped expedite implementation.

Project Number: 41544-072
Project Name: Investment Climate Improvement Program System Support Project
Report Date:
Lesson
Program design should focus on mplementing reforms not only where commitment is strong, but where resources and external factors are adequate to ensure successful implementation. In the case of the Securities and Exchange Commission (SEC), a persistent and chronic shortage of funding initially compromised its ability to provide effective surveillance and supervision to the capital markets. Additional budget increases still appear necessary to bring Office of the Insurance Commission and SEC remuneration in line with the Bangko Sentral ng Pilipinas, as mandated by Republic Act No.

Project Number: 38276-013, 38276-023
Project Name: Financial Market Regulation and Intermediation Program
Report Date:
Lesson
There should be strong and widespread political will. For example, the Capital Market Development Plan was initiated unilaterally by the Securities and Exchange Commission and clearly was not reflective of industry sentiment and therefore did not enjoy widespread support. In the case of the Office of the Insurance Commission, pressure from the industry to postpone higher required capitalization contributed to a change in the Insurance Commissioner and a reduction in political will in support of reform.

Project Number: 38276-013, 38276-023
Project Name: Financial Market Regulation and Intermediation Program
Report Date:
Lesson
Programs and technical assistance should not depend on passage of law in countries where legislative processes are slow and cumbersome. In this case, reforms to the bank resolution process, such as the authorization of bridge banking powers for Philippine Deposit Insurance Corporation, rely on the passage of legislation, and are still pending. The administrative increase in minimum capital requirements for the insurance subsector was embroiled in controversy and delay, but now appears to be required by law, but only following a 7-year delay.

Project Number: 38276-013, 38276-023
Project Name: Financial Market Regulation and Intermediation Program
Report Date:
Lesson
Under the Financial Sector Development Program, the development and approval of key financial sector legislation was an important contribution to sector development. While the delays were inevitable, closer, longterm, in-country dialogue with the government would have been beneficial. This dialogue and close program monitoring will be enhanced by the establishment of a resident mission in Bhutan. ADB has been a long-standing partner of Bhutan's financial sector development since the beginning.

Project Number: 37164-023
Project Name: Financial Sector Development Program
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
To increase ownership and longterm commitment to goals, it is important that program support be embedded in a government strategy. Extensive preparation was made for the Rural Finance Sector Development Program in terms of market assessment and dialogue with government. The program was successful due to the close alignment of government and program objectives.

Project Number: 33357-013
Project Name: Rural Finance Sector Development Program
Report Date:
Lesson
Translating training into institutionalized practice. Despite intensive onsite technical assistance, the Agriculture Promotion Bank management placed inadequate focus on the development of its human resources and capacity building, which were needed to ensure long-term sustainability. A number of staff training programs designed by the consultants experienced delays. Implementation of recommended action steps (such as the monthly monitoring meetings suggested for the branches) were not given sufficient importance.

Project Number: 33357-013
Project Name: Rural Finance Sector Development Program
Report Date:
Lesson
Appropriate design of procurement proposal is important. The criteria for selection of an information and communications technology and management information system consulting firm was overly ambitious. Delays in implementation could have been avoided with more reasonable criteria.

Project Number: 33357-013
Project Name: Rural Finance Sector Development Program
Report Date:
Lesson
If success is likely at the midpoint of a technical assistance (TA), planning for follow-on support should then be undertaken. The outcome of the program could have been stronger with follow-on TA, particularly in the case of the Catalyzing Microfinance for the Poor TA. Feedback from a range of microfinance providers and stakeholders confirmed the need for follow-on support.

Project Number: 33357-013
Project Name: Rural Finance Sector Development Program
Report Date:
Lesson
The reason why the program was not rated highly successful is because, despite the fact that the overall objectives were achieved (as defined in the design and monitoring framework), the linkage of the program to ultimately reducing poverty is weak. There was no substantial increase in access to formal financial services to rural, low-income clients.

Project Number: 33357-013
Project Name: Rural Finance Sector Development 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
Considering the extensive nature of program preparation related to client demand, the monitoring and evaluation of the program should have included a periodic assessment of client satisfaction or interim impact of the program objectives on clients. The customer satisfaction survey conducted as part of the project completion report review indicated that clients have appreciated an improvement in access to finance and in services provided, but that there are some serious consumer protection issues that need to be addressed.

Project Number: 33357-013
Project Name: Rural Finance Sector Development Program
Report Date:
Lesson
The lessons drawn by the PCR are valuable to ADB. ADB needs to seriously consider the socioeconomic and political environments in designing projects. Implementing a project in an unstable environment is not likely to yield positive outcomes. Proper timing is important in introducing a project especially when it entails a paradigm shift (i.e., from supply-led to demand driven). The experience with this project highlighted the need for greater coordination with other donors in addressing the country’s strategic development needs.

Project Number: 32541-013
Project Name: Fiji: Alternative Livelihoods Development Project
Report Date: