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Lesson
With financial services playing a key role in supporting the growth of the real economy while promoting inclusive finance, a comprehensive reform approach supported by technical assistance (TA) is required to make the financial sector more inclusive. As the sector continues to grow and ADB funding is limited, TA and strong development partner coordination are essential to ensure financial resources are strategically targeted, to avoid overlapping or overcrowding of assistance in particular areas at the expense of others.

Project Number: 44263-013, 44263-015, 44263-016
Project Name: Inclusive Financial Sector Development Program
Report Date:
Lesson
ADB may need to consider greater flexibility to allow an extension of the availability period of loans under the multitranche financing facility, where deemed appropriate. Because of various delays, the investment program's availability period was extended to 10 years and ended on 24 November 2020. Government requests to extend the availability beyond 2020 were declined by ADB.

Project Number: 41504-013, 41504-023, 41504-025
Project Name: Town Electrification Investment Program (Multitranche Financing Facility and Tranche 2)
Report Date:
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
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
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
Sound identification and valuation of costs and benefits in the economic analysis can provide more realistic economic internal rates of return (EIRRs) to indicate a more accurate state of project viability. The economic analysis in the RRP and PCR underestimated the value of the project outputs, particularly the economic benefits of the solid waste management component, which led to a low EIRR. Willingness-to-pay $2 per month for solid waste removal seems too low and unreasonable considering the substantial health and environmental benefits that such removal likely provides.

Project Number: 45507-003
Project Name: Yunnan Chuxiong Urban Environment Improvement Project
Report Date:
Lesson
Understanding changing market conditions during implementation and undertaking timely adjustments in the design in response to the conditions help maintain the relevance of the project and facilitate delivery of outputs within the planned timeline. The minor changes made in the design were instrumental in accelerating the pace of the project after a slow start and in delivering the expected project outputs.

Project Number: 47046-002
Project Name: Gansu Featured Agriculture and Financial Services System Development Project
Report Date:
Lesson
Decisions to invest further in concentrated solar thermal power projects, which are capital intensive, critically depends on the feasibility of the location and assessment of environmental risks, as well as the comprehensive and well-justified identification, quantification, and valuation of economic benefits.

Project Number: 46058-002
Project Name: Qinghai Delingha Concentrated Solar Thermal Power Project
Report Date:
Lesson
A well-designed project performance management system is useful in facilitating the identification, quantification, and valuation of economic benefits.

Project Number: 46058-002
Project Name: Qinghai Delingha Concentrated Solar Thermal Power Project
Report Date:
Lesson
The results-based lending (RBL) modality provides flexibility to adjust targets adversely affected by unforessen adverse events such as COVID-19. During 2020–2022, the COVID-19 pandemic affected the demand for electricity, lowering the State Electricity Company's (PLN) revenues and creating uncertainty in its investment plans. Sourcing equity financing and implementing ongoing projects within PLN became difficult under such conditions and adjustments were needed in scope and time targets of ongoing works.

Project Number: 50016-001
Project Name: Sustainable Energy Access in Eastern Indonesia—Electricity Grid Development Program
Report Date:
Lesson
The sector development program modality proved to be effective in helping the government to reform the education sector. It responded to the sector's major problem of insufficient financing, with the policy-based grant providing the government financial incentives to reform the sector. The project component effectively supported the implementation of policy reforms. Some project initiatives are not yet fully functional and the government needs further support to accomplish these. Supporting technical assistance could address this.

Project Number: 46537-002
Project Name: Strengthening Education System Sector Development Program
Report Date:
Lesson
The project's use of leasing, a financing instrument not used in previous ADB FILs in Uzbekistan, was positive as it provided alternative financing depending on the needs of customers.

Project Number: 42007-018
Project Name: Small Business Finance Project
Report Date:
Lesson
Collaboration with development partners is essential to build consensus for reforms. Donor consensus and support for critical reforms, backed by a policy-based loan and plan to subsequently complement by project-level funding, contributed to the success of this program. Continued long-term engagement on reforms supported by investments is necessary for sustainability.

Project Number: 49006-003
Project Name: Electricity Transmission Sector Reforms Program
Report Date:
Lesson
Structural and nonstructural interventions require cohesive and integrated program approaches as well as long-term planning. The phased approach taken by this program proved most appropriate, allowing the step-by-step construction of various flood and riverbank erosion management (FRERM) structures while verifying innovative solutions and, in the process, strengthening state and local institutions.

Project Number: 38412-013, 38412-023, 38412-033, 43069-012
Project Name: Assam Integrated Flood and Riverbank Erosion Risk Management Investment Program (Tranches 1 and 2; and Multitranche Financing Facility)
Report Date: