Indonesia - Third Financial Sector Reform Development Policy Financing Project

Overview & Synopsis

Ratings of the First, Second and Third Financial Sector Reform Development Policy Financing Project for Indonesia were as follows: overall outcome was moderately satisfactory, relevance of prior actions was highly satisfactory, achievement of objectives was moderately satisfactory, and Bank performance was highly satisfactory. Some of the lessons learned include: it is fundamental to anchor the DPL series in substantial analytical work and previous operations and align it with ongoing WB operations; it is important to include RIs that are measured using publicly available data that is collected regularly and is easily accessible to better capture the outcomes of a DPL series; technical assistance and capacity building are essential to the program’s success; there are important benefits to undertaking a programmatic DPL series rather than a standalone operation; political transitions matter and could derail progress on reforms, thus highlighting the importance of having a mitigation strategy in place; and it is essential to develop an ongoing engagement and communication strategy highlighting the important benefits of the reforms supported for both the implementing agencies and the general public.