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Lesson
Independent auditors’ opinions should adequately address all the aspects of the loans’ financial covenants.

Project Number: 42180-013
Project Name: Second Public-Private Infrastructure Development Facility
Report Date:
Lesson
The DMF must include outcomes for each of the output areas, given the diverse and significant nature of the outputs and their contribution to Mongolia’s financial stability. The DMF included outcomes for three of the five output areas, making it difficult to track the TA project’s contributions.

Project Number: 50017-001
Project Name: Supporting Financial Sector Development and Stability
Report Date:
Lesson
This validation also adds that choosing and defining outcome indicators that can be directly attributed to TA outputs can improve a program’s relevanc and effectiveness.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
Report Date:
Lesson
Consultations with the government and development partners are critical for ensuring that the government has sufficient implementation capacity, increasing synergies and reducing duplication. In this TA project, ADB did not sufficiently consult with the government with regard to e-licensing, which resulted in delays due to the lack of capacity on XBRL in OJK’s IT department. ADB also did not sufficiently consult with the World Bank, which resulted in several activities being part of the TA design that the government had already agreed on being financed by the World Bank.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
Report Date:
Lesson
This is a useful lesson learned, but it is phrased as a recommendation. Rephrasing it into a lesson learned: Engaging with stakeholders extensively (including those that may not be directly involved in the TA project) while designing the TA can increase ownership of its activities among national stakeholders and support a timely implementation of TA activities. This TA project would have benefited from focus group discussions with stakeholders in the banking and capital market sector. Topics could have included financial inclusion, financial literacy, and consumer protection.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
Report Date:
Lesson
The timing needed to reach regional agreement on sensitive matters is inherently difficult to predict. The use of optimistic targets may help motivate progress. However, the risks of delays in such projects need to be explicitly recognized.

Project Number: 50055-001
Project Name: Creating a Regional Settlement Intermediary in ASEAN+3: Cross-Border Settlement Infrastructure Forum
Report Date:
Lesson
This is a useful lesson learned. The lesson could have benefitted from specifying which outputs should have been grouped together under separate TA projects.

Project Number: 48040-001
Project Name: Export- and Innovation-Led Industrial Development
Report Date:
Lesson
The DMF must be clear in its formulation of the details so that these could be used to confirm if the indicator targets were indeed achieved. The DMF in the TAR would have benefited from clearer indicators to (i) distinguish the Output 1 report from the Outputs 2–3 reports, (ii) specify the intended avenue for publishing reports, (iii) align the number of countries to be visited for the international study tour with the TAR’s main text, and (iv) have greater detail on the composition of training and workshop participants.

Project Number: 48010-001
Project Name: Study on Local Financial Market Development and Supervisory Framework
Report Date:
Lesson
Also, ensuring that approval is sought for changes in the indicators in the course of TA implementation is a good practice.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
Extension of the TA for one year due to foreseeable events would not have been necessary had the TA been designed more appropriately.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
On the output indicator, understanding of the underlying environment, including quality of data, through pre-investigative works could have ensured better design of TA outputs.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
The outcome indicator should have been formulated more clearly and the outputs/activities planned to better ensure that it could deliver the targeted outcome.

Project Number: 50057-001
Project Name: Promoting Green Local Currency-Denominated Bonds for Infrastructure Development in ASEAN+3
Report Date:
Lesson
Consultation with development partners is also important to increase synergy and reduce duplication. This was an aspect of the TA design that could have been improved as some activities proposed overlapped with those supported by other development partners (FKSSK action plan and branchless banking workshops).Resources for these activities were reallocated to other equally important activities that contributed to the outcome during the implementation stage.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
Report Date:
Lesson
The TA design should include extensive stakeholder engagement including those that may not be directly involved in the TA. This should consist of focus group discussions with stakeholders in a particular sector (banking, capital market) or thematic activities (financial inclusion, financial literacy, consumer protection). Such engagement will increase ownership of TA activities among national stakeholders on proposed activities which will subsequently reduce delays in implementation.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
Report Date:
Lesson
Seeking further synergies with ADB’s Central Asia Regional Economic Cooperation (CAREC) and Greater Mekong Sub-region (GMS) programs can contribute to greener infrastructure development in the region. The TA’s potential to foster regional cooperation integration was not fully explored due to lack of planning and coordination with the CAREC initiatives at the design stage. The project team tried to remedy this shortcoming by conducting a larger final workshop event in December 2018 with the CAREC guests.

Project Number: 48472-001
Project Name: Promotion of Environmentally Sustainable Infrastructure Investment in Asia and the Pacific
Report Date: