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Lesson
Construction timelines in climate-affected areas need to be reliably assessed to minimize completion delays. The construction timelines for Karamyk BCP, located at altitude of 2,300 meters above sea level, were tight. The contractor faced various issues due to the harsh weather, electricity supply interruptions, and delays with the supply of materials and equipment. Combined with the contractor’s relatively low financial capacity, this resulted in a 4-year construction period versus the originally planned 15-month implementation timeline.

Project Number: 46124-001
Project Name: Central Asia Regional Economic Cooperation Regional Improvement of Border Services Project
Report Date:
Lesson
Fiscal reform, pensions, and capital markets reforms are inextricably linked, because of the role each plays in economic development. Subprogram 2 supported the development and approval of the Capital Market Development Strategy, 2022–2028 by government decree, which includes a commitment to develop a green bond framework. This provides a strong basis from which to develop a broader integrated program to support not just fiscal resilience but also further capital market reforms in conjunction with the Finance Sector Office.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
State-owned banks are often used for policy lending that target specific sectors offering low interest rates and preferential terms. It is important that during project preparation, financial intermediaries selected are aligned with the market-based approach of FIL projects to avoid crowding out subloans and nonparticipation of selected intermediaries in lending to the target sector.

Project Number: 47046-002
Project Name: Gansu Featured Agriculture and Financial Services System Development Project
Report Date:
Lesson
The experience and knowledge gained by the PFIs—especially Davr Bank and the UzbekLeasing International A.O., which subsequently attracted other development partners—added value to the project. The areas that were particularly beneficial across the PFIs were project analysis, formulation, and

Project Number: 42007-018
Project Name: Small Business Finance Project
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: