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LESSONS:

Regional: Kula Fund Limited (formerly Pacific Investment Capital Fund)

| country: | region: Regional

This validation agrees with the issues and lessons identified in the extended annual review report (XARR). In addition, this validation considers the need for more realistic upfront assessments of fund investment pipelines. Padding the list of potential investments with subprojects that do not meet fund requirements may help sell the project but in the end is counterproductive.

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