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Lesson
Focusing on downstream engagement in select areas through sector development programs and project investments could help unlock structural bottlenecks in service delivery at the local level. This would require follow-on collaboration with various sector teams, such as in agriculture, trade, information technology, health, education, energy, urban, and climate solutions. In other words, building on policies, laws, and institutional capacity to improve service delivery and overall client experience.

Project Number: 52225-001, 52225-002, 52225-003, 52225-004
Project Name: Promoting Economic Diversification Program (Subprograms 1, 2 and 3)
Report Date:
Lesson
Public sector management reform programs have the potential and can be designed to support the government in staying on the reform course despite challenges. A lack of fiscal buffers and effective social protection systems exacerbated the economy’s vulnerability to the COVID-19 pandemic.This program has successfully supported the government in hanging on to the reform process despite these challenges.

Project Number: 52225-001, 52225-002, 52225-003, 52225-004
Project Name: Promoting Economic Diversification Program (Subprograms 1, 2 and 3)
Report Date:
Lesson
ADB has been at the forefront of social welfare reform in Mongolia. Continued engagement at the country level is key to further strengthening the system through improved targeting, consolidation of benefits, and improved financial sustainability. Although not the aim of the emergency assistance loan, the project highlighted the need for further reforming the system.

Project Number: 54214-001
Project Name: Shock-Responsive Social Protection Project
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Lesson
The government’s internal approval processes need to be carefully considered when designing and implementing a policy reform program. In Viet Nam, the consensus-building approach to policymaking requires significant time and coordination, particularly for policies that would entail changes to the legal framework. The process for amending laws is a significant constraint, as the lawmaking cycle usually takes 5 years. Inadequate consideration of these features of policymaking and lawmaking in Viet Nam could lead to unrealistic program schedules.

Project Number: 49331-001
Project Name: Financial Sector Development and Inclusion Program
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Lesson
Proposing reforms during crises requires careful risks assessments, including in particular the likelihood of reforms being sustained, and well-prepared mitigation measures. It also requires an in-depth knowledge of the sector in the country through previous successful involvement and will demand intensive policy dialogue to be pursued after the crisis. These conditions, which were met by ADB for this overall project, were essential for the success of the project. Social protection and social assistance programs are politically sensitive.

Project Number: 42322-012
Project Name: Food and Nutrition Social Welfare Program and Project 
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Lesson
Well planned and logically sequenced policy actions are crucial to maximizing impact of reform programs and ensuring the sustainability of reforms.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
A flexible approach to respond to evolving priorities is important in maintaining the relevance of a policy-based loan (PBL) program. At the beginning of this program, further development in the oil and gas sector was a priority. However, during the 8-year program period, the government’s priority shifted to energy transition. Some of the policy actions in subprogram 3 were revised accordingly, in consultation with cofinancing partners, to reflect this development.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
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Lesson
It might be useful to develop a climate finance strategy for the state-owned enterprises(SOE) sector, building on the experience and lessons from this program's. Assessment of the fiscal risks associated with climate change was incorporated into subprogram 2. This highlights the significant role SOEs can play in addressing climate change impacts and supporting the countries climate obligations. Given this, it might be useful to establish a climate finance strategy for the SOE sector, building on the experience and lessons from this program.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
It is imperative for SOEs to develop good corporate governance and maintain an arm's length relationship with government, regardless of whether it is a commercial or noncommercial SOE. Some of the policy actions under this program were designed to improve the government's performance of its SOE ownership function. However, in addition to these policy actions, it is imperative for SOEs to proactively promote good corporate governance and develop functional autonomy from the government.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
Additional measures are necessary for the government securities market to stimulate demand from both retail and institutional investors. The program had several supply-based reforms, particularly around the primary dealer system and government bonds; however, turnover velocity was below the target, particularly for the secondary market relating to government securities. This would suggest that additional demand-based measures are as of December 2023 required for the government securities market to stimulate demand from both retail and institutional investors.

Project Number: 54271-001, 54271-002
Project Name: Fiscal Resilience and Social Protection Support Program (Subprograms 1 and 2)
Report Date:
Lesson
Sustained engagement is critical for the successful completion of reform programs. This program benefited from the government’s strong ownership of sector reform. However, it also made the reform program susceptible to changes in policy directions and strategies, especially with changes in political leadership. As an example, renewable energy tariff mechanisms changed multiple times during the program period.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
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
Government leadership and coordination are key to successful sector reforms. The main reason for the delay in completing subprogram 3 was because of the time needed to complete the coordination for a presidential regulation that required more interministerial coordination and agreements than a ministerial regulation. While this additional requirement makes this action more irreversible, overcoming the coordination challenge was not without difficulty. Government leadership for careful coordination was critical in completing this policy action.

Project Number: 49043-001, 49043-002, 49043-003
Project Name: Sustainable and Inclusive Energy Program 
Report Date:
Lesson
Project preparation should have included better articulation of the need or logic for integrating a program loan and a project loan in a sector development program (SDP). Policy dialogue, which is essential to clearly establish an understanding among the executing agencies that policy reforms and project loan financed investments are interlinked, should have been undertaken; however, this was missing in this SDP. Two separate loans delivered in sequence may have been preferable and more manageable.

Project Number: 39305-013
Project Name: Urban Public and Environmental Health Sector Development Program
Report Date:
Lesson
Effective coordination and harmonization of policies, strategies, and action plans among the development partners can meaningfully support fragile countries. The joint policy reform matrix (JPRM) demonstrated how four development partners came together to provide sizable budget support to Tonga in its hour of need, when the country faced multiple challenges, including disasters triggered by natural hazards, the COVID-19 pandemic, and a fragile economy.

Project Number: 55016-001
Project Name: Economic Recovery Support Program
Report Date: