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Lesson
Sustained recourse to resident international advisors may perpetuate the dependency of decision makers on such advisors; and

Project Number: 37393-032, 37393-042
Project Name: Private Sector and Financial Market Development Program
Report Date:
Lesson
The capacity of Afghanistan Investment Support Agency (AISA) to promote new investment in Afghanistan and the availability of PRG cover to support such investment was poor because of staff turnover and an inadequate incentive framework. This should have been anticipated and technical assistance could have looked at ways to address this problem.

Project Number: 38598-013
Project Name: Afghanistan Investment Guarantee Facility Project
Report Date:
Lesson
The evaluation offers some lessons regarding the need to (i) properly adapt the scope and time frame of comprehensive and sensitive policy reforms to institutional capacity, (ii) carefully sequence reforms, and (iii) take a long-term approach to development. Developing capital markets is a long-term process, for which 10-20 years may be considered a realistic time frame. Capital market reform should focus on a limited set of highly selective and sequenced reforms that are within reach of government implementation capacity.

Project Number: 34135-013
Project Name: Financial Regulation and Governance Program
Report Date:
Lesson
Without absorptive capacity in ministries, very little technical skills transfer will occur;

Project Number: 37393-032, 37393-042
Project Name: Private Sector and Financial Market Development Program
Report Date:
Lesson
Responsibility for the project was spread out within ADB, causing coordination issues with MIGA and other cofinanciers. For future projects combining sovereign, nonsovereign, and cofinancing operations, having a single focal point within ADB would improve project implementation and prospects for success.

Project Number: 38598-013
Project Name: Afghanistan Investment Guarantee Facility Project
Report Date:
Lesson
No new lessons

Project Number: 29603-013
Project Name: Malakand Rural Development Project
Report Date:
Lesson
The timing of a program is crucial to the effectiveness of its outputs and outcomes. Difficulties to obtain approvals of the numerous legislative actions in this program could be traced to the change of government (and the fact that the government did not hold a majority of seats in the Parliament). The program's achievements of performance targets benefited from the eventual improvement of the political and economic landscape from 2009 onwards.

Project Number: 36357-013
Project Name: Financial Markets Program for Private Sector Development
Report Date:
Lesson
A key success of a reform program is the relevant design that incentivizes strong government ownership on institutional strengthening, in this case, by improving bank's operational management: supporting profitable business lines such as pawning, tightening credit reviews and recoveries to reduce nonperforming loans (NPL), and controlling overhead costs such as reducing headcounts to improve performance on a per employee basis.

Project Number: 36357-013
Project Name: Financial Markets Program for Private Sector Development
Report Date:
Lesson
Furthermore, it is prudent to minimize the number of legislative actions to ensure effective program implementation. The program had an excessive number of legislative actions that contributed to program implementation delays. In addition, a salient feature of this program is the transparent and effective approach to monitoring the restructuring of a bank. This feature can be applied to other similar entities.

Project Number: 36357-013
Project Name: Financial Markets Program for Private Sector Development
Report Date:
Lesson
Outputs that are prerequisites for other outputs need to have a technical assistance dedicated to them upfront.

Project Number: 36155-013
Project Name: Private Participation in Infrastructure Program
Report Date:
Lesson
Socially responsible budget. Rapid disbursements into a budget that is socially responsible and sound in macroeconomic terms provide an efficient channel for supporting sustainable and inclusive public spending, including social sector financing.

Project Number: 43496-013
Project Name: Social Services Delivery Program
Report Date:
Lesson
Realistic design key in conditions of uncertainty. When a project seeks to develop a nascent industry in a challenging environment, outputs need to be realistic. The project design relied on assumptions about the state of and potential for development in the microfinance industry that proved to be unrealistic. The project redesign highlights the need to be flexible in adapting the project to emerging realities and experiences in the industry.

Project Number: 32472-013
Project Name: Microfinance and Employment Project
Report Date:
Lesson
Match ADB staff skills to specific project needs. When supporting the development of a new industry in a challenging environment, project administration needs to be particularly vigilant and carried out by ADB officers with strong expertise in the area. Stakeholders noted that the performance of ADB improved when staff had expertise in the microfinance sector and were actively involved in the implementation of the project.

Project Number: 32472-013
Project Name: Microfinance and Employment Project
Report Date:
Lesson
Experience with the implementing agencies suggests that regular and persistent communication with ADB staff in Manila, with implementing agencies, and the resident mission are critical to keeping the program on track.

Project Number: 36155-013
Project Name: Private Participation in Infrastructure Program
Report Date:
Lesson
Timely reviews, earlier solutions, lower costs. A major project redesign followed a midterm review. While the changes contributed significantly to the success of the project, this review occurred came fairly late - in 2005, compared with the original closing date of 2006. Had this review taken place earlier, the project might have been able to achieve its outcomes earlier and at lower cost.

Project Number: 32472-013
Project Name: Microfinance and Employment Project
Report Date: