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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 suggested stakeholder participation lessons may also apply to scaling up.

Project Number: 50017-001
Project Name: Supporting Financial Sector Development and Stability
Report Date:
Lesson
In the TCR’s follow-up actions, it is stated that ADB’s stakeholder support should continue through capacity building and policy advice. It is not clear from the TCR statement if there are new areas or topics to target, or if additional resources are needed to increase the reach of the programs that succeeded through this TA project. A lesson may be possible to develop depending on the specific learning the TCR intends to capture.

Project Number: 50017-001
Project Name: Supporting Financial Sector Development and Stability
Report Date:
Lesson
The TA project’s work on NPL management led directly to a policy_x005F_x0002_based loan that did not appear to be part of the original purpose for the TA. Instead, it appears that the importance of the TA recommendations as well as the urgency of Mongolia’s needs for financial stability, led to the follow_x005F_x0002_on loan. There may have been specific lessons regarding the development of the government’s commitment to NPL management that could be of use to future TA projects seeking to achieve the same commitment to reform that could have been included in the TCR

Project Number: 50017-001
Project Name: Supporting Financial Sector Development and Stability
Report Date:
Lesson
Identifying sequenced delivery dates when there are numerous output targets is helpful to ensure on-time completion of the TA project. This TA project was highly complex given the many topics and agencies involved. Planning out, and meeting, the sequenced activity plans appeared to be helpful in keeping the TA project on track.

Project Number: 50017-001
Project Name: Supporting Financial Sector Development and Stability
Report Date:
Lesson
When there are diverse TA outputs to deliver, the use of individual consultants can be more efficient than the use of a single firm. Engaging a single firm to cover the wide range of outputs in this TA project would have been time_x005F_x0002_consuming, both to identify the firm and to achieve the appointment of the firm, which would have reduced the time available to deliver the TA project components.

Project Number: 50017-001
Project Name: Supporting Financial Sector Development and Stability
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 is a useful lesson learned, but it is phrased as a recommendation. Rephrasing it into a broader lesson learned for other TAs: Active engagement with the private sector, policy maker (MOF), and regulator (OJK) during the implementation of TA project activities in the finance sector can improve the relevance and effectiveness of developed policies.

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
This is a useful lesson learned but it is phrased as a recommendation. Rephrasing it into a lesson learned: When TA projects in the finance sector focus on specific subsectors or pecific themes, it allows for a comprehensive diagnostic assessment with adequate resources to address the biggest constraints in the sector or area. A more focused approach also allows the government to design and implement sequenced eforms in a sector.

Project Number: 45396-001
Project Name: Enhancing the Regulatory Framework of Financial Sector Development and Oversight
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
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:
Lesson
Particularly for loans, in-depth review on a borrower’s credit performance and the sector context, as part of the due diligence assessment, is vital for recognizing potential financial risks. Analytical measurements on financing risks (e.g., adequacy of capital ratio, contingent liabilities), risk allocation options, and risk management monitoring, for example, are key factors that enhance credit appraisal and help develop a well-structured financing scheme and related covenants.

Project Number: 46268-002
Project Name: Clean Energy Finance Investment Program (Tranche 1)
Report Date:
Lesson
A financially sound institution dedicated to finance projects in renewable energy subsector, with the national government’s support, signals country’s strong commitment to achieve its goals in the subsector. This, together with favorable regulatory environment, is instrumental in providing the right incentives to attract private investors and other development partners and foster the rapid deployment of renewable energy in a country.

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