Kosovo - Financial Sector Strengthening and Market Infrastructure Project (Formerly Titled Financial Sector Technical Assistance Project) (Anglais)

Ratings for the Financial Sector Strengthening and Market Infrastructure Project (Formerly Titled Financial Sector Technical Assistance Project) for Kosovo were as follows: outcomes were moderately satisfactory, the risk to development outcome was moderate...  Voir la suite Ratings for the Financial Sector Strengthening and Market Infrastructure Project (Formerly Titled Financial Sector Technical Assistance Project) for Kosovo were as follows: outcomes were moderately satisfactory, the risk to development outcome was moderate, the Bank performance was moderately satisfactory, and the Borrower performance was also satisfactory. Some lessons learned included: a number of lessons can be drawn from the project design and implementation that would be useful for the Bank and other donors for the design of financial sector operations, other projects in the country, as well as with broader application.It is important to fully assess all required actions during th preparation stage of a project and identify and assess the implementing agency’s internal capacity to execute or manage all required functions. The project experienced delays largely due to the procurement process, which proved to be challenging in the early stage as the PMT team lacked the experience with WB projects and took time to become familiar with requirements and standards.The scale and scope, as well as the timeline of a project should be well aligned with the implementing agency’s capacity for coordination, procurement, contract management, and financial management. Coming up with arrangements to address this particular bottleneck early in the project cycle is an important lesson. Establishing a dedicated PIU (see below) is an important consideration.These are particularly relevant for a fragile and post-conflict environment given the capacity constraints and institutional uncertainties. Civil servants working part-time in project implementation, are not only constrained in terms of time but they also often find themselves challenged by institutional and political uncertainties of the post conflict environment.The financial sector projects should try to select and deliver those types of activities that are most important for the regulator or the financial sector, and for which the Finance and Markets GP at the bank can add most value.Selecting activities which are closer to the core expertise of the relevant WB unit, would add most value to the client and ensure satisfactory outcomes and efficient implementation of the project.Another important lesson from the project was related to the importance of the quality of supervision. Despite the aforementioned shortcomings in the quality of entry and project design, the project managed to successfully achieve its results thanks to the satisfactory level of quality of supervision along with the strong borrower ownership and commitment.  Réduire