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Lesson
The risks associated with single-tranche loans can be mitigated through proper management of the loan proceeds and control of the project cost. The ADB loan was featured to have a single tranche disbursement arrangement to address currency mismatch and hedge financial risks arising from foreign borrowing. In the early stage of project implementation, the full amount of the ADB loan ($90.8 million) was disbursed as an advance and exchanged to local currency.

Project Number: 41682-039
Project Name: Greater Mekong Subregion Highway Expansion Phase 2 Project
Report Date:
Lesson
Apart from offering concessional interest rates,ADB and China National Investment and Guaranty Corporation (I&G) could explore providing enhanced value-added services for ongoing and future financial intermediation loan initiatives in air quality improvement or climate change programs. The global economic slowdown dampened enthusiasm for green investments, while the rise in euro interest rates and the reduction of yuan lending rates since 2022 presented additional challenges for green financing eligible subprojects within the greater Beijing–Tianjin–Hebei region.

Project Number: 50096-002
Project Name: Air Quality Improvement in the Greater Beijing–Tianjin–Hebei Region—China National Investment and Guaranty Corporation’s Green Financing Platform Project
Report Date:
Lesson
Financing a series of smaller projects within a broader financing structure can provide efficient infrastructure improvement support on a larger scale. Although the project completion report indicated that these types of projects should contain fewer districts to reduce the implementation burden, the report confirmed the efficacy of the project. Therefore, to provide large-scale infrastructure, it may be preferable to finance a series of smaller projects within a broader financing structure, such as a multitranche financing facility.

Project Number: 45084-002
Project Name: Coastal Climate-Resilient Infrastructure Project
Report Date:
Lesson
Changes in government could trigger changes in counterpart agencies and priorities with significant implications on program design and implementation. The national election in 2012 resulted in a change in government and the subsequent appointment of new directors and staff in Municipal Development Fund of Georgia (MDF), the project executing and implementing agency (EA/IA). Additional time thus had to be devoted to building capacity and awareness with respect to the project. Several subprojects were cancelled because of changes in government priorities.

Project Number: 42414-023
Project Name: Sustainable Urban Transport Investment Program - Tranche 1
Report Date:
Lesson
Changes in government may require a new or additional round of capacity- and awareness-building. The national election in 2012 resulted in a change in the government and subsequent appointment of new directors and staff in the Municipal Development Fund of Georgia (MDF), the project executing and implementing agency. Therefore, additional time had to be devoted to build capacity and awareness with respect to the project.

Project Number: 42414-033
Project Name: Sustainable Urban Transport Investment Program - Tranche 2
Report Date: