Abstract:
The series of Asian Development Bank (ADB) interim country partnership strategies (ICPSs) for Maldives,
2014–2019 aimed to support the country’s objective of establishing an environmentally sustainable
and economically inclusive society. ADB’s country program sought to contribute to improving
connectivity and expanding access to public infrastructure and services; better economic management
and revenue enhancement; micro, small, and medium-sized enterprises development; and more
recently, to improving solid waste management.
This validation finds the program successful. It was relevant to the country’s development needs and
government priorities. It was effective in delivering outputs and key outcomes. It was efficient, despite
delays experienced by two completed projects (one relating to small and medium-sized enterprises
[SMEs], the other to nonsovereign housing finance), with the ongoing portfolio, particularly the largest
renewable energy project, showing strong disbursement and implementation progress. In addition,
the validation notes risks to the program’s sustainability. It was less than likely sustainable due to
a high debt and long-term financial sustainability concerns, including concerns with regard to a
completed project’s business development service centers (BDSCs). The development impacts of the
program are assessed satisfactory.
The report makes four recommendations for ADB’s new country partnership strategy (CPS) for this
upper-middle-income country: (i) embed sharper diagnostics in the CPS and develop a clear results
framework; (ii) enhance the strategy to support private sector development; (iii) fully mainstream
climate change adaptation work; and (iv) apply a programmatic approach to the technical assistance
(TA) program, focusing on select priority areas, and strengthen the program’s value addition.
