Search

Displaying 31 - 45 of 405

Lesson
Dissemination of achievements made under the program is essential for knowledge-sharing and to strengthen ADB’s image as an effective development partner, The program supported the implementation of key reforms that were relevant and highly desired by the government to accelerate the country's economic growth. It is important to communicate the achievements made, with the general public and development partners, to improve knowledge and raise awareness. Communication and public awareness are also essential to enhance ADB’s status and credibility as an effective development partner.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Strong alignment with government strategies and priorities leads to strong government ownership and participation in program implementation. The reforms adopted under this program were essential to improve fiscal credibility and strengthen the capital market in Armenia. They were fully aligned with the strategies of the government and ADB. Because of this strong strategic alignment, government ownership of the program remained strong and all implementing agencies actively coordinated with ADB to achieve the reform agenda.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
The absence of a programmatic approach in policy-based loans (PBLs) can put at risk the sustainability of reforms. This program was designed as a stand-alone, single-tranche, PBL and effectively achieved its objective because of strong ownership by and well-coordinated efforts of the authorities and ADB staff. However, the lack of a programmatic approach posed a high risk to the sustainability of the reforms made.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
The ownership and rationale of policy reforms need to be carefully assessed at appraisal. Strong ownership and consistent government support are critical to the success of program loans. As such, the ownership and rationale of policy reforms should be carefully assessed at appraisal. In assessing ownership, it is important to remember that policy actions affect many stakeholders, both within and outside the government.

Project Number: 45253-002
Project Name: Third Capital Market Development Program
Report Date:
Lesson
The design and monitoring framework (DMF) should be reviewed and updated as necessary during implementation to ensure continued alignment with other aspects of the program. The outcome and output indicators in the program DMF had been developed at appraisal for achievement over a relatively short period of 24 months. However, when program implementation was extended by 23 months to November 2019, an opportunity was missed to update the targeted dates for the indicators, which were measured about 1 year after the extended program completion date.

Project Number: 45253-002
Project Name: Third Capital Market Development Program
Report Date:
Lesson
Continued engagement by ADB with the government is imperative. To maintain reform momentum, ADB’s continued engagement with the government is a must even after the program is completed. One mechanism could be through a post-program partnership framework. While facilitating monitoring of the borrower’s compliance with loan covenants, this will also enable ADB to identify follow-on actions where it can have value addition.

Project Number: 45253-002
Project Name: Third Capital Market Development Program
Report Date:
Lesson
Consensus-building requires sufficient time for meaningful and in-depth consultations with various stakeholders. This program’s experience has demonstrated that building consensus between the government and the private sector, as well as among government departments, could take much longer than envisaged. The program design to strengthen the staffing of three major regulatory institutions within 2 years was optimistic, and a more realistic timeframe should have been considered. Future programs that will necessitate consensus-building should provide ample time for this type of activity.

Project Number: 45253-002
Project Name: Third Capital Market Development Program
Report Date:
Lesson
Sound project design requires adequate technical input and open communication with key participants and/or stakeholders. Greater technical input was necessary to appraise the government’s proposed components during project preparation. Specifically, the design flaws in output 2, credit lines for biogas value chains and other climate-smart agriculture waste management investments, would have been avoided if the processing team had access to livestock, environmental, and institutional specialists with appropriate country knowledge to support the financial management specialist.

Project Number: 45406-001
Project Name: Low Carbon Agricultural Support Project
Report Date:
Lesson
Research activities must be undertaken early in project implementation. Where research is needed to guide the introduction of new technologies, such research is better undertaken in advance of a project so that results can be incorporated in the project design. In this project, the 5-year project time frame was too short in undertaking research, evaluating results, and effecting replication. This time frame was further exacerbated by denying the participation of government-owned research institutes in the research program.

Project Number: 45406-001
Project Name: Low Carbon Agricultural Support Project
Report Date:
Lesson
Procurement should be exhaustive. Developing a procurement strategy with proper analysis of market availability, operating environment, including capacity assessments of executing and implementing agencies, and risk management will help the project achieve its intended results in a timely manner. Where a project requires participation of government-owned universities or research centers, attention should be paid at project appraisal to para. 1.13 (c) of ADB’s Guidelines on the Use of Consultants (2013, as amended from time to time).

Project Number: 45406-001
Project Name: Low Carbon Agricultural Support Project
Report Date:
Lesson
The continuous longer-term involvement of the same mission leader and other qualified ADB staff from the design stage until the end of implementation of the three subprograms is important to the success of this program. Familiarity with local institutional challenges and personnel in the government is important for a complex reform program such as this one to achieve progress.

Project Number: 48207-001, 48207-002, 48207-004
Project Name: Financial Market Development and Inclusion Program
Report Date:
Lesson
The importance of a comprehensive strategic framework that broadens and deepens financial inclusion based on robust diagnostics and analytical work. The rationale for reform and policy actions are to be drawn from these diagnostics, and actions are prioritized and sequenced in addressing the constraints and bottlenecks. Regulatory constraints, institutional capacity limitations, deficiencies in technology infrastructure, and extent of financial literacy need to be clearly identified and assessed based on the analytical work.

Project Number: 48207-001, 48207-002, 48207-004
Project Name: Financial Market Development and Inclusion Program
Report Date:
Lesson
It is important that the TA is appropriately designed to support the delivery of expected outputs and that it is implemented in a timely manner. The program demonstrated the role of a well-designed TA in supporting completion of reforms across the three subprograms and building capacity of the implementing agency. It is also essential that the timing of activities is aligned with the sequencing of policy actions so as not to undermine the achievement of outputs.

Project Number: 48207-001, 48207-002, 48207-004
Project Name: Financial Market Development and Inclusion Program
Report Date:
Lesson
Having specific performance indicators dedicated to improving FI’s operational and financial management helps ADB foster its development objectives, while improving FI’s institutional capacity. Specifically, the performance indicators on safeguards compliance help ADB improve FI’s ESMS, thereby, mainstreaming ADB’s environmental and social objectives in infrastructure projects that FIs implemented.

Project Number: 46268-002
Project Name: Clean Energy Finance Investment Program (Tranche 1)
Report Date:
Lesson
Another lesson is that strong partnership and greater collaboration among FIs and stakeholders support the strengthening of financial supervision and risk management monitoring. Due diligence on the FI’s institutional capacity prior to loan approval, led to develop a complementary TA, which in turn supported in improving FI’s operational and financial management. ADB’s additional financing served as leverage to pursue recommendations from the TA, aimed to improve the FI’s financial and operational performance.

Project Number: 46268-002
Project Name: Clean Energy Finance Investment Program (Tranche 1)
Report Date: