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Lesson
Loan covenants need to be continually assessed and updated, considering changes in the operating environments.

Project Number: 46268-002
Project Name: Clean Energy Finance Investment Program – Tranche 1
Report Date:
Lesson
Get the institutional framework right before scaling up.

Project Number: 37220-013, 37220-023, 37220-033
Project Name: Sindh Cities Improvement Investment Program (Tranche 2 and the Multitranche Financing Facility)
Report Date:
Lesson
It is important for succeeding tranche loans to have clear provisions of clear conditionality in the program design and lending agreements.

Project Number: 37220-013, 37220-023, 37220-033
Project Name: Sindh Cities Improvement Investment Program (Tranche 2 and the Multitranche Financing Facility)
Report Date:
Lesson
Inclusion of gender targets in policy actions and DMF ensures the delivery of gender actions benefiting women.

Project Number: 41544-088, 41544-089, 41544-091
Project Name: Second Investment Climate Improvement Program (Subprograms 1–3)
Report Date:
Lesson
Reforms on tax burden and administration should be broad enough to significantly reduce the cost of tax compliance and eventually the size of the informal economy.

Project Number: 41544-088, 41544-089, 41544-091
Project Name: Second Investment Climate Improvement Program (Subprograms 1–3)
Report Date:
Lesson
The DMF needs indicators that measure the actual impact of the project rather than national or sectoral changes.

Project Number: 43158-013
Project Name: Micro, Small, and Medium Enterprise Development Project
Report Date:
Lesson
Projects need to have robust systems for verifying results and for an MSME project, this would ideally include an end-of-project survey to independently measure impact.

Project Number: 43158-013
Project Name: Micro, Small, and Medium Enterprise Development Project
Report Date:
Lesson
Develop, at the design stage, clear targets on the recipients of the project.

Project Number: 43158-013
Project Name: Micro, Small, and Medium Enterprise Development Project
Report Date:
Lesson
Sequencing of reforms and an extended gestation period are crucial to capital market development.

Project Number: 48427-001, 48427-002
Project Name: Encouraging Investment Through Capital Market Reforms Program
Report Date:
Lesson
Political will, continuous engagement, and high-level government support are crucial to the successful implementation of capital market reform programs.

Project Number: 48427-001, 48427-002
Project Name: Encouraging Investment Through Capital Market Reforms Program
Report Date:
Lesson
A holistic and thorough diagnostic enables the preparation of a comprehensive but highly implementable capital market development plan.

Project Number: 48427-001, 48427-002
Project Name: Encouraging Investment Through Capital Market Reforms Program
Report Date:
Lesson
Close collaboration within ADB and among development partners can result in greater capital market efficiencies.

Project Number: 48427-001, 48427-002
Project Name: Encouraging Investment Through Capital Market Reforms Program
Report Date:
Lesson
The IA, the Infrastructure Development Company Limited, could have entered into strategic partnerships with other international organizations to further improve its skill and capacity given the complexity of activities in infrastructure.

Project Number: 40517-013, 40517-042
Project Name: Public–Private Infrastructure Development Facility
Report Date:
Lesson
A clearer link between the DMF, policy actions, and the GAP is necessary.

Project Number: 45230-001
Project Name: Women’s Entrepreneurship Support Sector Development Program
Report Date:
Lesson
Unrealistic and overambitious indicators in the DMF should have been raised during the implementation for corrective actions.

Project Number: 40517-013, 40517-042
Project Name: Public–Private Infrastructure Development Facility
Report Date: