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LESSONS:

Pakistan: Road Sector Development Program (Policy Loan)

| country: Pakistan

The key lesson is that the purpose of program lending – which is to support structural reforms and achieve development results – should not be compromised by balance-of-payments or budget considerations. This would have meant allowing a longer program period for the required depth of reforms. ADB could have envisaged that sector refroms require a longer implementation period and should have focused on a smaller number of specified reform issues.

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