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Lesson
Ownership of the reform process is critical and, given the experience of this, it will remain so. The reform agenda was fully in line with government and ADB strategies and priorities. This allowed for timely and quick support that resulted in comprehensive products. Detailed discussion on outcome indicators at the design stage is critical to finding the best possible indicators for measuring outcome.

Project Number: 51066-001, 51066-003
Project Name: Finance Sector and Fiscal Management Improvement Program (Subprograms 1 and 2)
Report Date:
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
Strong leadership by high-level authorities is required to carry out in-depth and timely policy discussions across a range of government and other development agencies and stakeholders involved in social protection. To meet the country's significant financial needs in a timely manner, the program needed to be prepared under time pressure. Therefore, strong leadership by high-level government authorities in the government was imperative.

Project Number: 55041-001, 55041-003
Project Name: Strengthening Social Resilience Program (Subprograms 1 and 2)
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: