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Bhutan: Strengthening Economic Management Program

The program adopted a two-pronged approach to negotiate the challenges of weak economic management in Bhutan. First, it aimed to improve fiscal management to help the government allocate scarce resources more effectively and efficiently. Second, it aimed to improve monetary management to ensure that interest rate policy better matched the demand and supply of loanable funds, thereby improving liquidity management. This approach was to be reinforced by strengthening the internal and external audit systems to improve the monitoring of public resources and strengthen administrative and financial efficiency and accountability including at the subnational level of government. The program supported policy and institutional improvements in four core areas: (i) fiscal management, (ii) debt management, (iii) monetary and liquidity management, and (iv) internal and external audit operations. Five separately approved ADB technical assistance grants spread over 2010–2012 supported capacity building in these and other related areas.

This report validates the completion report’s assessment of the project. IED overall assessment: Successful.

Developing a Legal System for the Credit Market: Technical Assistance Completion Report

Technical assistance completion reports describe for technical assistance projects the expected impact, outcome and outputs; conduct of activities; evaluation and achievement of the expected outcomes; an assessment and rating; major lessons; and recommendations and follow-up actions. This document dated May 2016 is provided for the ADB project 45503-001 in the People’s Republic of China.

Viet Nam: Third Financial Sector Program

The Third Financial Sector Program was formulated to create a more diversified, deeper, and more resilient finance sector in Viet Nam. The bank-dominated finance sector could not adequately finance the economy’s investment needs. Thus, increasing the share of nonbank financial markets in financing investment was envisaged to help sustain economic growth with lesser risks. The development of diversified capital markets in the financing was to increase the efficiency of financial intermediation in the economy, more efficiently allocate resources, and create a sound macroeconomic environment that is more resilient to external and regional shocks. The Third Financial Sector Program consisted of two subprograms. Under subprogram 1, the key policy actions were as follows: (i) adopt a new securities law, (ii) set up market information standards, (iii) lay down the institutional framework for securities issuances, (iv) improve consumer protection, and (v) develop regional cooperation. Subprogram 2 focused on developing securities and bond markets; increasing transparency disclosure; strengthening the legal, regulatory, and enforcement frameworks; and strengthening regional cooperation.

This validation covers the project completion report (PCR) of the Third Financial Sector Program. IED overall assessment: Less than successful.

Financial Regulatory Reforms in Asia: Technical Assistance Completion Report

Technical assistance completion reports describe for technical assistance projects the expected impact, outcome and outputs; conduct of activities; evaluation and achievement of the expected outcomes; an assessment and rating; major lessons; and recommendations and follow-up actions. This document dated September 2015 is provided for the ADB regional project 45142-001.

Designing a Framework for the Asia SME Finance Monitor: Technical Assistance Completion Report

Technical assistance completion reports describe for technical assistance projects the expected impact, outcome and outputs; conduct of activities; evaluation and achievement of the expected outcomes; an assessment and rating; major lessons; and recommendations and follow-up actions. This document dated September 2015 is provided for the ADB project 46144-001.

Enhancing Financial Stability (Scoping): Technical Assistance Completion Report

Technical assistance completion reports describe for technical assistance projects the expected impact, outcome and outputs; conduct of activities; evaluation and achievement of the expected outcomes; an assessment and rating; major lessons; and recommendations and follow-up actions. This document dated August 2015 is provided for the ADB project 47302-001 in Viet Nam.