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Displaying 16 - 27 of 27

Lesson
Long-term engagement establishes understanding and trust, which are vital for any reform program to succeed but indispensable for the finance sector, where policy actions such as those relating to interest rates or foreign exchange may involve significant externalities. A new program dedicated to financial sector reform is not in the offing, but this lag provides ADB an opportunity to re-enter the sector and focus on targeted subsectors such as financial inclusion and capital markets.

Project Number: 44263-013, 44263-015, 44263-016
Project Name: Inclusive Financial Sector Development Program
Report Date:
Lesson
An alternative approach for the Completion of projects halted by the closure of the availability period of MFF-financed loans needs to be explored. This is especiallly important for projects with considerable stranded investments (e.g., stranded investments in the Ramazon HPP included $3 million for transmission line and $3 million for site Preparation). To continually implement the Ramazon HPP, the PNG Power Ltd.

Project Number: 41504-013, 41504-023, 41504-025
Project Name: Town Electrification Investment Program (Multitranche Financing Facility and Tranche 2)
Report Date:
Lesson
The multitranche financing facility (MFF) modality is appropriate for the phased Implementation of major reforms. It also proved suitable for the new training partnership model introduced by this investment program, which took time to take off within both the government and the private sector. This is because the stakeholders deemed it important to familiarize themselves first with the model— learn which aspects were working well, which ones did not. and subsequently modify or redesign those aspects that proved inappropriate or ineffective.

Project Number: 42466-015
Project Name: Skills for Employment Investment Program - Tranche 1
Report Date:
Lesson
ADB needs to continue the RBL modality for the school education SWAp and expand to other education subsectors to leverage sequencing of results, add value to government programs, sustainably strengthen institutions, and harmonize development partners. The RBL modality encouraged substantive policy discussion and critical analysis geared towards common agreement on the key results. The government internalized the aim of achieving targets in a set time frame and linking disbursements to achieved results.

Project Number: 49424-001
Project Name: Supporting School Sector Development Plan
Report Date:
Lesson
Results-based lending (RBL) is effective in strengthening government systems and fostering a whole-of-government approach to education reform. The Department of Education and education sector benefitted from the extensive engagement and discussions with oversight agencies on specific program results areas. The agencies provided a wider perspective on government financing, resource programming and prioritization, development planning, and program or project evaluation.

Project Number: 45089-002
Project Name: Senior High School Support Program
Report Date:
Lesson
Experience with this program validated the four reasons for the choice the policy-based lending (PBL) programmatic approach as most suitable for the development of the finance sector of Cambodia. First, financial sector development is a gradual process that requires proper sequencing. Key foundational reforms of the banking subsector must be in place before progressing to more complex reforms of the nonbank subsector.

Project Number: 44263-013, 44263-015, 44263-016
Project Name: Inclusive Financial Sector Development Program
Report Date:
Lesson
Ensuring the continuity of reforms until they are fully rexecuted requires the Implementation of a medium-term program framework, strong government commitment, and extensive consultation and engagement of key stakeholders. This program was designed when the massive K–12 reform was rolled out. The reform’s full Implementation was envisioned to go beyond the administrative tenure of Department of Education that initiated it.

Project Number: 45089-002
Project Name: Senior High School Support Program
Report Date:
Lesson
Project readiness challenges could result in sequential delays of the different tranches in an MFF, leaving insufficient time for implementation within the MFF term and making MFF less relevant. Prior to the approval of each tranche, the initial design for each project was prepared to varying degrees.

Project Number: 44483-024, 44483-023, 44483-026, 44483-027
Project Name: Second Central Asia Regional Economic Cooperation Corridor 2 Road Investment Program
Report Date:
Lesson
The One ADB review mechanism that supported program and/or project processing under the COVID-19 Pandemic Response Option (CPRO) was effective in facilitating quick access by DMCs to emergency support from ADB. The CPRO policy and guidelines were still being developed while the program was under preparation, and managing changing internal guidance and expectations added significant pressure. Neverthelesss, program preparation efficiency gains from the One ADB review mechanism were widely experienced.

Project Number: 54309-001
Project Name: Health Expenditure and Livelihoods Support Program
Report Date:
Lesson
The partial credit guarantee (PCG) modality was a good choice for this transaction. It enabled ADB sovereign operations to come as close as possible to enabling the IA to obtain commercial financing for a commercially viable project in a country with a below-investment-grade rating. With a One ADB approach, it showed the way to achieve close and collaborative work between ADB’s sovereign and nonsovereign departments. Its 95% cover was important because it facilitated the raising of commercial finance.

Project Number: 49451-002
Project Name: Shah Deniz Gas Field Expansion Project
Report Date:
Lesson
The absence of a programmatic approach in policy-based loans (PBLs) can put at risk the sustainability of reforms. This program was designed as a stand-alone, single-tranche, PBL and effectively achieved its objective because of strong ownership by and well-coordinated efforts of the authorities and ADB staff. However, the lack of a programmatic approach posed a high risk to the sustainability of the reforms made.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date:
Lesson
Technical assistance (TA) is required to develop the capacity of institutions to meaningfully engage with ADB on a longer-term basis. ADB’s continuous engagement with the country, during and after a PBL, is essential. It allows ADB to keep a foothold in the country, learn about the reforms being assisted by other development partners, remain updated about emerging needs and issues, support sustainability, and help in processing new programs.

Project Number: 53248-001
Project Name: Second Public Efficiency and Financial Markets Program
Report Date: