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Mongolia: Housing Finance (Sector) Project

sector: Finance | country: Mongolia

The project was a success and the following lessons were learned: (a) the development of the housing sector could be best done through a two-stage basis: by ADB providing technical assistance (TA) for establishment of the legal, regulatory, and policy frameworks, and by providing a follow-up loan to assist housing development; (b) cooperative and coordinated efforts by the government, ADB, other donors, and local governments are required to provide the needed infrastructure facilities and urban services; (c) the project had inbuilt flexibility to shift funds between the various subcomponents, which ensured greater loan utilization; and (d) sub-lending should be done only through banking/financial institutions (participating commercial banks or PCBs in this case) and not through other institutions as tried under this project (public and private enterprises, contractors) since they lacked lending and loan recovery expertise.

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