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Bulgaria - Technical Assistance Project for Economic Reform (Inglês)

The audit rates the project outcome as satisfactory, sustainability as likely, and institutional development as substantial, concurring with the Implementation Completion Report's assessment. Key lessons suggest that: 1) results-based management is critical to the development effectiveness of technical assistance loans (TAL), mostly resulting from realistic schedules at entry. The perception among Bank staff that this operation was ineffective, - despite achievements - likely stems from the difficulties in measuring TAL results (building capacity; facilitating reform), from excessive preoccupation with measurable inputs (funds disbursed), and, process issues (extensions and amendments); 2) uncertain, and fast changing environments are not conducive to a blue-print approach to TAL, rather a more promising approach should have focused the TAL on few institutional, and policy objectives, using these to define activities through regular reviews during implementation; 3) since technical assistance (TA) is inherently difficult, risky, and experimental in the best of times, the Bank should create incentives, and provide resources for quality implementation assistance, for a bias for resource transfer, by the Bank and the Ministry of Finance, may have devalued the developmental role of TA for capacity building, and implementation of reforms; and, 4) further emphasis on timely monitoring, and evaluation of the privatization process is required for a continuous adaptation onto ongoing privatization programs.

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