CLR Review Independent Evaluation Group 1. CAS/CPS Data Country: Philippines CAS/CPS Year: FY14 CAS/CPS Period: FY15-FY19 CLR Period: FY15-FY19 Date of this review: December 5, 2019 2. Ratings CLR Rating IEG Rating Development Outcome: Moderately Satisfactory Moderately Satisfactory WBG Performance: Good Good 3. Executive Summary i. This review of the World Bank Group’s (WBG) Completion and Learning Review (CLR) covers the period of the Country Partnership Strategy (CPS) FY15-18, and the updated CPS at the Performance and Learning Review (PLR) dated August 31, 2017. The CPS period was extended by one year through FY19 at the PLR stage. ii. As described in IEG’s 2019 Country Program Evaluation (CPE), the Philippine economy has been growing rapidly over the past decade. However, performance on poverty reduction, inequality and human development has been persistently low. The country is also a natural disaster hotspot, with frequent typhoons, tropical storms and earthquakes. It has also been affected by internal unrest, predominantly the protracted conflict and violence on the southern island of Mindanao. iii. The 2014 CPS was well aligned with the Philippine Development Plan (PDP) 2011-16 that aimed at reducing poverty and improving the lives of the poorest segments of the population. The subsequent PDP 2017-22 shifted some emphasis to major infrastructure investments – where the WBG has not been particularly active – but also seeks to lift about six million citizens from poverty, achieve upper-middle income status by 2022, and to deliver a comprehensive agenda for peace and development in conflict-affected areas. The WBG program as adjusted in the 2017 PLR was therefore well aligned with significant aspects of the current PDP. iv. The CPS set out a program that was divided in five focus areas: Transparent and Accountable Government; Empowerment of the Poor and the Vulnerable; Rapid, Inclusive and Sustained Economic Growth; Climate Change, Environment, and Disaster Risk Management; and Peace, Institution-Building, and Social and Economic Opportunity – all these areas were of high priority for the country and under the PDP. However, the amount of expected lending was too optimistic - $3.2 billion for a four-year period – an amount of $3.1 billion was actually achieved over five years. Within the same five focus areas the 2017 PLR scaled back ambitions and improved linkages, modifying or replacing in the process most of the original objectives. v. During the CPS period IBRD approved 11 operations for a total of $3.1 billion for rural development, social welfare development, and urban transport. Two of the operations were DPLs, for a total of $951 million, and two were additional financings, for a total of $470 million. A total of four operations were dropped from the program and three of these were planned for FY19. Five of CLR Reviewed by: Panel Reviewed by: CLR Review Manager/Coordinator Nils Fostvedt Konstantin Atanesyan Jeff Chelsky IEGEC Consultant Senior Evaluation Officer, Manager, IEGEC IEGEC Albert Martinez Ismail Arslan, Acting CLR Review IEGEC Consultant Coordinator, IEGEC For Official Use Only CLR Review 2 Independent Evaluation Group those proposed for FY19 have been delayed and planned for delivery in FY20-21. A total of 52 trust funds were active during the CPS period for a total of $239 million, of which 20 were approved during the CPS period for a total of $161 million. Major trust funds addressed areas like renewable and sustainable energy, urban transport, methane recovery, and Mindanao reconstruction and development. vi. IEG rates the overall development outcome as Moderately Satisfactory. Of the 15 objectives, six are rated Achieved, three Mostly Achieved, five Partially Achieved, and one Not Achieved. Focus Area I is rated as Moderately Satisfactory. Good progress was achieved on increased public revenue mobilization, although this objective was not by itself sufficiently relevant for the focus area of transparent and accountable government. Focus Area II is rated Moderately Satisfactory. There was good progress with improving the quality of basic education (although challenges still remain) and access to health insurance coverage and progress with poor households receiving conditional cash transfers, access in targeted municipalities to infrastructure and services, and with attendance at regular Barangay Assemblies. Focus Area III is rated Moderately Unsatisfactory. There was good progress with transport connectivity and with access of the bottom 40 percent to formal financial services (although seventy percent of the adult population remain unbanked), and some progress with improved agricultural productivity and incomes in targeted areas. Focus Area IV is rated Moderately Unsatisfactory. There was progress with mainstreaming climate change adaptation and disaster risk reduction measures into Provincial Development and Physical Framework plans and with reducing the pollution in targeted areas of Manila Bay. Finally, Focus Area V is rated Satisfactory. There was good progress with increased access to basic services in conflict affected areas, and with improved community participation in investments vii. On balance, IEG rates the WBG performance as Good. The CPS addressed important development issues and was well aligned with the PDPs 2011-16 and 2017-22, with their focus on poverty alleviation, helping the bottom 40 percent, and support for reconstruction and development in the conflict-affected areas of Mindanao. The program as redesigned at the PLR stage aligned well with those of other development partners, with significant areas of close cooperation. The Bank delivered a modest lending program of $3.1 billion together with very substantial ASA in support of major government programs. IBRD portfolio performance reflected a range of implementation challenges, including procurement delays, delays in signing, and effectiveness delays followed by cancellation. However, the active portfolio performed reasonably well. viii. The CLR provides a total of 10 lessons with which IEG agrees (although some are more in the nature of findings), including the following: • WBG support should be informed by a careful assessment of the evolving political economy and institutional incentives. • Disbursement-linked indicators can be effective if complemented with technical assistance. • It is important to focus on a selected number of areas with sustained engagements where the likely development impact is the greatest. ix. In addition, the CLR also notes the following key lessons from the recent IEG CPE: • The overall balance of ASA could be improved to make it more demand-driven and selective, with greater emphasis on collaborative approaches. • Mindanao (and especially BARMM (the Bangsamoro Autonomous Region of Muslim Mindanao)) could be a focal area for Bank Group’s support, and potentially a model for in- depth regional engagement and local capacity building. • The coordination and sequencing of Bank and IFC interventions for private sector development could be improved with operationalization of the “one Bank” approach. For Official Use Only CLR Review 3 Independent Evaluation Group • Successful programs such as the PRDP (Philippine Rural Development Project) could be implemented to expand presence and operations at the provincial and municipal levels as well as build the capacity of subnational governments. 4. Strategic Focus Relevance of the WBG Strategy: 1. Congruence with Country Context and Country Program. The 2014 CPS was well aligned with the Philippine Development Plan (PDP) 2011-16 that aimed at improving the lives of the poorest segments of the population. The subsequent PDP 2017-22 shifted some emphasis to major infrastructure investments – where the WBG has not been particularly active – but also sought to lift about six million citizens from poverty, achieve upper-middle income status by 2022, and deliver a comprehensive agenda for peace and development in conflict-affected areas. The WBG program as adjusted in the 2017 PLR stage was therefore well aligned with significant aspects of the current PDP. 2. Relevance of Design. As described in IEG’s 2019 Country Program Evaluation (CPE), the Philippine economy has been growing rapidly over the past decade with average GDP growth over 2008-17 of 5.6 percent contributing to gross national income per capita of $3,895 as of 2019. However, performance on poverty reduction, inequality and human development has been persistently weak. The national poverty rate was 21.6 percent in 2015, the Gini coefficient has hovered around 45 percent during the past decade, and the UN Human Development Index (HDI) ranks the country as number 113 out of 189 in the world. The country is a natural disaster hotspot, with frequent typhoons, tropical storms and earthquakes. And it has been affected by internal unrest, predominantly the protracted conflict and violence on the southern island of Mindanao. 3. The CPS addressed the important issues of poverty reduction, inequality, human development, natural disasters and conflict and violence on Mindanao. The program was underpinned by a mix of lending and knowledge services, leveraged through numerous trust funds (many for renewable energy or Mindanao) and a range of partnerships with the donor community. The program was divided in five focus areas: (i) Transparent and Accountable Government; (ii) Empowerment of the Poor and the Vulnerable; (iii) Rapid, Inclusive and Sustained Economic Growth; (iv) Climate Change, Environment, and Disaster Risk Management; and (v) Peace, Institution-Building, and Social and Economic Opportunity – all these areas were of high priority for the country and included in the PDP The results framework included objectives and indicators that could not be measured and/or were not be addressed by WBG work. Within the same five focus areas the 2017 PLR scaled back ambitions and improved linkages, modifying or replacing in the process most of the original program objectives. However, the CPE found that in some areas this simplification was not well justified, especially on governance and poverty measurement, and that overall the massive cuts in indicators was too radical. Selectivity 4. The original CPS program was selective in terms of its five focus areas, and this selectivity remained also in the PLR program, at which time the selectivity improved in terms of program objectives, result indicators and milestones. Alignment 5. Within the government’s evolving development agenda both the original and updated (at PLR stage) CPS included support for prudent macroeconomic management, good governance, inclusive growth and poverty reduction, private sector development, and building up resilience to natural disasters (to which the country is heavily prone). The CPE notes that the CPS gave inclusive growth and poverty reduction a more central role than its predecessor, with its Focus Area II (empowerment of the poor and the vulnerable), and its continued strong support for peace and stability in the conflict- affected areas of Mindanao. The CPE also noted that the Philippines is perceived as a relatively successful model of gender equality and that the CPS committed to continue ensuring that gender considerations were mainstreamed into operations, and gives several examples of how this has been done. For Official Use Only CLR Review 4 Independent Evaluation Group 5. Development Outcome Overview of Achievement by Objective: 6. Following the IEG-OPCS Shared Approach for Country Engagement, the assessment of the development outcome is based on the updated results framework at the PLR stage. In line with this approach, this review uses the term “focus area” rather than “engagement area” and “objective” rather than “outcome”. Focus Area I: Transparent and Accountable Government 7. Objective 1: Increased public revenue mobilization. This objective was supported by the FY15 third DPL, the FY19 Improving Fiscal Management DPL, and three ASAs including the FY16 Tax Policy and Admin. Reform Support. The objective had one indicator: (i) Percentage increase in domestic revenue to GDP. Baseline13.6 percent of GDP (2014). Target 14.6 percent of GDP (2019). The Ministry of Finance reports that for 2018, revenue to GDP ratio was 16.4 percent, with tax revenues to GDP 14.7 percent. Achieved. This indicator was also a relevant measurement for the objective. 8. The one indicator was achieved. IEG rates Objective 1 as Achieved. 9. Objective 2: Improved quality and transparency of public financial reporting. This objective was supported by the FY15 third DPL, the FY19 Improving Fiscal Management DPL, and three ASAs including the FY16 PFM Strategy Implementation Support. The objective had two indicators: (i) Quality and timeliness of annual financial reports (PEFA indicator 1-25 – Fiscal Risk Reporting). Baseline PEFA rating C+ (2016). Target PEFA rating B (2019). There has been no PEFA after 2016. Not Verified. (ii) Public access to key fiscal information (PEFA indicator 1-10 – Internal Controls on Non-salary Expenditures). Baseline PEFA rating C (2016). Target PEFA rating A (2019). There has been no PEFA after 2016. Not Verified. 10. Neither of the two indicators were achieved for lack of measurement. IEG rates Objective 2 as Not Achieved. (More generally the CPE notes that reforms initiated under the previous administration and supported by the WBG strengthened governance and enhanced the quality of underlying institutions.) 11. Focus Area I is rated as Moderately Satisfactory. Of the two objectives one was achieved and the other was not achieved. Good progress was made on increased revenue mobilization, but no evidence was provided in the CLR of improved PFM. The use of PEFA indicators was appropriate, but imprudent without credible plans for a follow on PEFA. Alternative measures should have been proposed. Focus Area II: Empowerment of the Poor and Vulnerable 12. Objective 3: Increased coverage and utilization of health services. This objective was supported by the FY15 third DPL and the FY17 Programmatic AAA for Universal Health Care. The objective had one indicator: (i) Percent of poor households (quintile 1) with PhilHealth Insurance Coverage. Baseline 61.6 percent (2012). Target 85 percent (2019). IEG has verified that at least 90 percent of quintile 1 have such insurance coverage. Achieved 13. The one indicator for this objective was Achieved. IEG rates Objective 3 as Achieved. For Official Use Only CLR Review 5 Independent Evaluation Group 14. Objective 4: Improved quality of basic education. This objective was supported by the FY15 Learning, Equity and Accountability Program Support Project and the Programmatic AAA for Education. The objective had two indicators: (i) Decrease in number of students who have zero scores in reading comprehension in Early Grade Reading Assessment. Baseline: 79.1 percent (2015). Target (65 percent (2019)). As of January 2019, 32.1 percent of students had a score of zero – i.e., meaning no reading comprehension under this testing method. It is however not clear how strict were the standards used, in light of the high percentages for no comprehension in the baseline and also in 2019. Achieved. (ii) Increase in number students with at least 60 percent scores in the Early Grade Math Assessment. Baseline 36 percent (2015-16). Target 51 percent. As of January 2019, 90.2 percent of students achieved such a score. Achieved. 15. Both indicators were appropriate measures of the results of improved quality of basic education and both were achieved. IEG rates Objective 4 as Achieved. 16. Objective 5: Increased social protection coverage. This objective was supported by the FY16 Social Welfare Development and Reform Project II and the Programmatic AAA for Social Protection and Labor. The objective had one indicator: (i) Share of poor households receiving conditional cash transfer. Baseline 75 percent (2013). Target 90 percent (2019). As of December 2018, 85.7 percent of beneficiary households received such grants regularly. Mostly Achieved. 17. The one indicator for this objective was Mostly Achieved, IEG rates objective 5 as Mostly Achieved. 18. Objective 6: Improved access to basic social services and local planning. This objective was supported by the FY14 National Community Driven Development Program. The objective had two indicators: (i) Percent increase in access to roads, education, health centers and water in targeted municipalities. Baseline 53 percent (2014). Target 63 percent (2019). As of May 2019, such access had increased to 61 percent. Mostly Achieved. Data were collected through surveys for the various components (such as access to roads) and the overall indicator was defined as the average of the individual scores. (ii) Percent of households in targeted municipalities with at least one member attending regular Barangay Assemblies. Baseline 56 percent (2014). Target 70 percent (2019). As of December 2018, this percentage had increased to 80 percent. Achieved. The idea behind this indicator is that participation in the local Barangay Assemblies will give participants access to more information about local planning issues. The relevance of the indicator will depend on the extent to which assemblies function as intended. 19. One indicator under this objective was achieved and one mostly achieved. IEG rates Objective 6 as Mostly Achieved. 20. Focus Area II is rated Moderately Satisfactory. Two of the four objectives were achieved and two mostly achieved. There was good progress in improving the quality of basic education (although challenges still remain), enhancing access to health insurance coverage, and progress with poor households receiving conditional cash transfers, access in targeted municipalities to infrastructure and services, and with attendance to regular Barangay Assemblies. However, only one of the two indicators under Objective 6 can be said to deal with empowerment as such, as was given in the formulation of the focus area. For Official Use Only CLR Review 6 Independent Evaluation Group Focus Area III: Rapid, Inclusive and Sustained Economic Growth 21. Objective 7: Improved transport connectivity. This objective was supported by the FY15 Rural Development Project and its FY18 Additional Financing, the FY08 National Roads Improvement and Management Program and three ASAs for the transport sector including the FY 15 Transport Infrastructure Development Roadmap Framework Plan. The objective had two indicators: (i) Percent reduction in travel time in targeted rural areas. Baseline (2014). Target 30 percent (2019). As of June 2019, these travel times had been reduced by 53 percent, from 15 minutes to 7 minutes per kilometer. Achieved. (ii) National roads improved. Baseline 0 km (although stated as 280 km in the country program documents which could have been a typographical error) (2014). Target 295 km (2016). As of 2016, 295 km of national roads were improved, as targeted. Achieved. 22. Both indicators under this objective were achieved. IEG rates Objective 7 as Achieved. 23. Objective 8: Simplified business regulations and trade logistics. This objective was supported by the IFC FY19 Agri Trade AS. The objective had two indicators: (i) Increase in private sector cost savings. Baseline 0 (2014). Target $9 million (2019). The PCR reports private sector cost savings of $3.1 million due to reforms generated from measures attributed to this project. Partially Achieved. (ii) Increased new investment in shipping and logistics. Baseline 0 (2014). Target $14 million (2019). The completion report reports total additional investment 2015-18 of $211 million, of which the attribution to this AS project was $34 million. However, the attribution to the AS project is not clear – as mentioned in the CLR – also because it is not clear how an FY19 AS could have positive impact on results in previous years. Not Verified. 24. The two indicators go beyond the objective as formulated (simplified regulations and trade logistics). The indicators would also seem difficult to measure with any precision, it seems difficult to attribute the two indicators to one IFC AS project, and the PCR for this AS did not describe the methodology/data sources for estimating the first indicator. One indicator was partially achieved and another was not verified – with unclear attribution from the IFC AS project. IEG rates Objective 8 as Partially Achieved. 25. Objective 9: Increased access to financial services. This objective was supported by the Financial Inclusion Strategy and by the IFC AS Secured transaction (FY13). The objective had two indicators: (i) Percent of population in lower 40 percent of income distribution with access to formal financial services. Baseline 10 percent (2012). Target 17 percent (2019), which was exceeded at 18 percent (2017). Achieved. (ii) Number of SMEs that had credits secured by movable property. Baseline 0 (2014). Target 6,930 (2019). The Personal Property Security Act was passed only in August 2018, and the indicator cannot be measured. Not Achieved. 26. One indicator was achieved and one was not achieved. IEG rates Objective 9 as Partially Achieved. 27. Objective 10: Improved agriculture productivity and incomes. This objective was supported by the FY15 Rural Development Project, and its FY18 Additional Financing. The objective had two indicators: (i) Percentage increase in value of annual marketed output in targeted areas. Baseline 0 (2014). Target 30 percent (2019). The increase in value of marketed output was 21.5 percent as of June 2019. Partially Achieved. For Official Use Only CLR Review 7 Independent Evaluation Group (ii) Percentage increase in incomes for farmers and fisher folk in targeted provinces. Baseline 0. Target 25 percent (2019). Real household incomes had increased by 15.2 percent as of June 2019. Partially Achieved. 28. Both indicators were partially achieved. IEG rates Objective 10 as Partially Achieved. 29. Focus Area III is rated Moderately Unsatisfactory. One of the four objectives was achieved, and three partially achieved. There was good progress with transport connectivity and some progress with access of the lower 40 percent to formal financial services, with improved agricultural productivity and with incomes in targeted areas. Focus Area IV: Climate Change, Environment and Disaster Risk Management 30. Objective 11: Increased resilience to natural disasters and climate change. This objective was supported by the FY12 First Disaster Risk Management Development Policy Loan – CAT DDO and the FY19 ASAs Climate Resilience and Sustainability and Reducing Vulnerability to Natural Disasters. The objective had two indicators: (i) Number of provinces that mainstreamed climate change adaptation and disaster risk reduction measures into their Provincial Development and Physical Framework plans. Baseline 10 (2014). Target 60 (2018). As of October 2014, 72 provinces had so mainstreamed. Achieved. There is some uncertainty as to when the target was measured. The CLR does not give a date, whereas the ICR for the First Objective Disaster Risk Management Development Policy Loan - CAT DDO gives October 2014 –the same year as the baseline. However, the indicator does not capture anything related to the quality or relevance of those measures. (ii) Number of public facilities assessed for vulnerability to natural disaster. Baseline Metro Manila less than 20 out of 3,500 buildings (2015). Target vulnerability assessment for 100 buildings completed (2019). The CLR reports that this very modest target was well exceeded (almost 6,000 buildings), a number far above the target of 100 buildings, and also in excess of previous CPS and PLR estimates of total building stock. It is not clear whether there may have been different definitions used, but the targeted number seems under any circumstances to have been exceeded. Achieved. However, assessing buildings is just a vital step towards the objective of increased resilience. 31. Both indicators were achieved. However, they addressed plans and assessments, respectively, and were thus not fully adequate to underpin the objective of increased resilience on the ground. IEG therefore rates Objective 11 as Mostly Achieved. 32. Objective 12: Reduction in pollution. This objective was supported by the FY12 Metro Manila Wastewater Management Project. The objective had one indicator: (i) Reduce the pollution in targeted areas of Manila Bay. Baseline: 519 tons per year of Biological Oxygen Demand (BOD) reduced in collected wastewater (2016). Target: 3,556 tons per year reduced. By September 2019 2,583 tons per year were reduced. Partially Achieved. 33. The one indicator for this objective was mostly achieved. IEG rates Objective 12 as Partially Achieved. 34. Objective 13: Increased access to clean energy. This objective was supported by the FY16 Access to Sustainable Energy project and the FY16 Renewable Energy Development Project. The objective had one indicator: (i) Number of households provided with access to electricity (off-grid). Baseline: 0 (2016). Target: 40,500 (2019). Reporting is unclear as to whether actual measuring is for individuals or households. However, it is verified that 10,000 households received solar systems in remote areas of Mindanao. Partially Achieved. 35. The one indicator was Partially Achieved. IEG rates Objective 13 as Partially Achieved. For Official Use Only CLR Review 8 Independent Evaluation Group 36. Focus Area IV is rated Moderately Unsatisfactory. One objective was mostly achieved and two were partially achieved. There was progress with mainstreaming climate change adaptation and disaster risk reduction measures into Provincial Development and Physical Framework plans and with reducing the pollution in targeted areas of Manila Bay. Focus Area V: Peace, Institution Building and Social and Economic Opportunities 37. Objective 14: Increased access to basic services in conflict affected areas. This objective was supported by the FY15 Multi-Donor Facility Mindanao Reconstruction and Development Project and its FY18 Phase 2 and the FY16 ASA National Community Driven Development Program: Autonomous Region in Muslim Mindanao Component and Peace Lens. The objective had one indicator: (i) Number of people benefiting from access to roads, water systems and postharvest facilities. Baseline: 0 (2014). Target: 550,000 of which 275,000 female (2019). As of March 2017, 638,000 people of whom 330,738 female had been beneficiaries. The interpretation of this indicator is unclear and suggests that it could refer to beneficiaries of just one of these aspects. Achieved. 38. The one indicator for this objective was achieved. IEG rates Objective 14 as Achieved. 39. Objective 15: Improved community participation in investment planning in conflict affected areas. This objective was supported by the FY15 Multi-Donor Facility Mindanao Reconstruction and Development Project and its FY18 Phase 2. The objective had one indicator: (i) Percent of beneficiaries feel that local investments reflected their needs. Baseline: 0 percent (2014). Target: 60 percent (2019). As of March 2017, 86 percent of beneficiaries expressed that feeling. Achieved. 40. The one indicator for this objective was achieved. IEG rates Objective 15 as Achieved. However, this one indicator was not well articulated as it may or may not be a result of improved community participation. 41. Focus Area V is rated Satisfactory. There was good progress with increased access to basic services in conflict affected areas, and with improved community participation in investments. Overall Assessment and Rating 42. IEG rates the overall development outcome as Moderately Satisfactory. Of the 15 objectives, six are rated Achieved, three Mostly Achieved, five Partially Achieved, and one Not Achieved. Focus Area 1 is rated as Moderately Satisfactory. Good progress was achieved on increased public revenue mobilization, although this objective was not by itself sufficiently relevant for the focus area of transparent and accountable government. Focus Area II is rated Moderately Satisfactory. There was good progress with improving the quality of basic education (although challenges still remain), and in improving access to health insurance coverage, and progress with poor households receiving conditional cash transfers, access in targeted municipalities to infrastructure and services, and with attendance to regular Barangay Assemblies. Focus Area III is rated Moderately Unsatisfactory. There was good progress with transport connectivity and some progress with access of the lower 40 percent to formal financial services, with improved agricultural productivity and with incomes in targeted areas. Focus Area IV is rated Moderately Unsatisfactory. There was progress with mainstreaming climate change adaptation and disaster risk reduction measures into Provincial Development and Physical Framework plans and with reducing the pollution in targeted areas of Manila Bay. Finally, Focus Area V is rated Satisfactory. There was good progress with increased access to basic services in conflict affected areas, and with improved community participation in investments. For Official Use Only CLR Review 9 Independent Evaluation Group Objectives CLR Rating IEG Rating Focus Area I: Transparent and Accountable Satisfactory Moderately Satisfactory Government Objective 1: Increased public revenue mobilization Achieved Achieved Objective 2: Improved quality and transparency of Mostly Achieved Not Achieved public financial reporting… Focus Area II: Empowerment of the Poor and Moderately Satisfactory Moderately Satisfactory Vulnerable Objective 3: Increased coverage and utilization of Achieved Achieved health services Objective 4: Improved quality of basic education Achieved Achieved Objective 5: Increased social protection coverage Mostly Achieved Mostly Achieved Objective 6: Improved access to basic services and Mostly Achieved Mostly Achieved local planning Focus Area III: Rapid, Inclusive and Sustained Moderately Satisfactory Moderately Unsatisfactory Economic Growth Objective 7: Improved transport connectivity Achieved Achieved Objective 8: Simplified business regulations and Partially Achieved Partially Achieved trade logistics Objective 9: Increased access to financial services Partially Achieved Partially Achieved Objective 10: Improved agriculture productivity and Mostly Achieved Partially Achieved incomes Focus Area IV: Climate Change, Environment and Moderately Satisfactory Moderately Unsatisfactory Disaster Risk management Objective 11: Increased resilience to natural Achieved Mostly Achieved disasters and climate change Objective 12: Reduction in pollution Partially Achieved Partially Achieved Objective 13: Increased access to clean energy Partially Achieved Partially Achieved Focus Area V: Peace, Institution Building and Satisfactory Satisfactory Social and Economic Opportunities Objective 14: Increased access to basic services in Achieved Achieved conflict affected areas Objective 15: Improved community participation in Achieved Achieved investment planning in conflict affected areas 6. WBG Performance Lending and Investments 43. At the beginning of the CPS period, outstanding IBRD lending volume was $3.4 billion for 13 operations including one additional financing, covering several sectors including education, social sectors, water, rural development, and disaster risk management. During the CPS period IBRD approved 11 operations for a total of $3.1 billion in commitments for rural development, social welfare development, and urban transport. Two of the operations were DPLs, for a total of $951 million, and two were additional financings, for a total of $470 million. A total of four operations were dropped from the program and three of these had been planned for FY19. Five of those proposed for FY19 have been delayed and planned for delivery in FY20-21. The total actual lending included two unplanned operations for FY19 – a DPL for fiscal management and an additional financing for social welfare development. With these the total lending FY15-19 ($3.1 billion) was modestly lower than the $3.2 billion originally planned for the FY15-18 CPS period, and significantly lower than the $3.6 billion For Official Use Only CLR Review 10 Independent Evaluation Group planned in the PLR for FY15-19. A total of 52 trust funds were active during the CPS period for a total of $239 million, of which 20 were approved during the CPS period for a total of $161 million. Major trust funds addressed areas like renewable and sustainable energy, urban transport, methane recovery, and Mindanao reconstruction and development. 44. IEG has validated 12 operations that closed during the CPS period, of which ten were Moderately Satisfactory (MS) or better, one Moderately Unsatisfactory and one Highly Unsatisfactory – both these two were GEF operations. By numbers, this meant that 83 percent of the existing portfolio was rated MS or higher; slightly lower than for the East Asia and Pacific region as a whole (87 percent), but higher than the Bank’s world-wide portfolio (77.3 percent). The risk to development outcome (rated Moderate or below) by number was at 50 percent about the same as for the region as a whole (51.4 percent) but substantially better than the world-wide portfolio (39.7 percent Moderate or below). 45. At the start of the CPS period, IFC had $517 million of investments in 11 active projects, mainly for energy (59 percent) and finance including collective investment vehicles (29 percent). During the CPS period, IFC made long term investments amounting to $723 million mainly in the finance sector (71 percent), including collective investment vehicles. IFC’s investments in this sector supported lending by financial institutions in the areas of SME finance, renewable energy, energy efficiency, and mobile payments services. IFC had no trade finance guarantee (GTFP) exposure to the country during the CPS period. 46. During the CPS period, IFC validated three Expanded Project Supervision Reports (XPSRs), two in the finance sector and one in educational services, all of which were rated Mostly Successful for Development Outcome. Of the finance sector projects, one aimed to develop the distressed asset market and enable banks to sell their non-performing loans (NPLs), and the other supported increased SME lending by a commercial bank. The educational services project provided training in the hospitality industry with IEG rating the IFC additionality as Excellent. 47. MIGA had no engagements during the evaluation period. Analytic and Advisory Activities and Services 48. During the CPS period, the Bank delivered a total of 126 items of ASA, including a package of 19 Transition Policy Notes to the new government in 2016. The CLR notes that the in-depth sector diagnostics have focused on the key constraints to poverty reduction and economic growth. However, the CPE notes that there appears currently to be less interest in the Bank’s knowledge contribution in some areas, and that many stakeholders had expressed the view that the Bank focused too much on basic diagnostics whereas the government has been looking for additional support with implementation. The CPE also notes that the Bank’s decision to take a programmatic approach to ASA was appropriate, but that the scale of the program may have exceeded both the appetite and the absorptive capacity of its counterparts. 49. During this period, IFC approved 20 advisory service (AS) projects of which 15 supported various government entities in structuring and concluding PPP transactions. PPP clients included city governments, the departments of energy and transport, and a public sector hospital. Other AS projects included support to private sector clients in sustainable energy finance. Half of the AS projects approved during the CPS period were terminated or dropped due to: (i) client disinterest or change of mind; (ii) client pursuing another approach; (iii) inability of client to afford IFC fees; and (iv) AS project combined with another project. 50. IEG validated eight Project Completion Reports (PCRs) during the CPS period, of which three were rated Moderately Successful (two) or Successful (one) and five were rated Moderately Unsuccessful (one) or Unsuccessful (four). Three of the projects rated Unsuccessful were PPP advisories where the transaction did not materialize. An AS project supporting the establishment of a central repository of credit information was also rated Unsuccessful since the registry was never launched. The three projects rated Successful or Moderately Successful supported a PPP For Official Use Only CLR Review 11 Independent Evaluation Group transaction, the implementation of green building regulations, and improvement of the business climate at the sub-national level, respectively. Results Framework 51. The original CPS framework had five appropriate focus areas, 14 objectives – all of which were either dropped or reformulated at PLR stage - and a very large number of result indicators and milestones, almost all of which were dropped or changed at the PLR stage. Several of the original result indicators were too broad to be tracked or lacked trackable indicators – such as using PEFA indicators when there was no further PEFA within the extended CPS period. The program as revised in the PLR scaled back the level of ambition as well as the number of milestones – as one example, Objective 1 had been “Strengthened Public Finances and Fiscal Risk”, which was changed in the PLR to “Increased Public Revenue Mobilization”. The various modifications adjusted the program better to the WBG’s actual activities, as a number of the indicators and milestones were dropped because of lack of relevance to the ongoing program. In the process, an objective for improved poverty measurement was dropped and attention to governance issues was reduced. And there were still a few weaknesses, thus both indicators under Objective 2 depended for their measurement on a new PEFA that has not taken place, and both indicators under Objective 8 depended on one and the same IFC AS. The PCR for that exercise makes strong claims regarding benefits from the AS, but does not explain how the benefits were calculated. Partnerships and Development Partner Coordination 52. The CLR stated that the WBG maintained close coordination and harmonization with development partners. In this regard, the IEG CPE found that partnerships have been a key component of the WBG’s work in the Philippines, with the Bank Group engaging with local, national and international stakeholders. It has been the co-chair (with the government) of the Philippines Development Forum and has been the convener of a few working groups under the Forum (although some such working groups seem to have been less productive in recent years). The CPE noted important cases of close coordination with other stakeholders including the IMF, ADB, Australia, JICA, UNDP and others. This cooperation provided important advocacy after the 2016 elections when the new administration had some reservations about the WBG’s program. 53. The CPE also noted – as did the CLR - that the Bank and development partners were actively involved in reconstruction and reconciliation efforts in the conflict-affected areas of Mindanao island. The Bank and the UNDP jointly administered the Facility for Advisory Support for Transition Capacities, a major source of technical and financial assistance to these areas, and the Bank also administered the multi-donor trust fund for reconstruction and development to empower communities to recover from conflict and to promote participatory governance. Safeguards and Fiduciary Issues 54. Twelve projects were closed and validated by IEG during the extended CPS period; eleven of these triggered at least one safeguard policy in the agriculture, water, social development, social protection and labor, transport, and the environmental and natural resources sectors. The CLR’s discussion of safeguards compliance during the CPS is not explicit. The review of individual project ICRs, ICRRs and available PPARs shows that operational challenges had to do with delays, poor budgeting of environmental and social assessment needs, limited capacities of local counterparts, inadequate documentation, and the management of expropriation and voluntary land donation cases. To respond to these problems, the project assessment documents (ICRs and ICRRs) report the involvement of local courts when needed; and additional arrangements with the local teams to monitor outstanding issues. 55. The project documents generally report adequate mitigation of all the safeguards problems and a satisfactory compliance by project closing. However, the project ICRs and ICRRs further pointed out that a full description of all implementation issues and the specific mitigation measures applied is weak. In addition, while the ICRs and the ICRRs note the successful inclusion of indigenous peoples, one project PPAR underlines that some groups of indigenous households were left out of the programs in the social protection sector. One case of noncompliance with the safeguards is reported For Official Use Only CLR Review 12 Independent Evaluation Group in the environmental and natural resource sector, due to an “abrupt” closure of a project that prevented the application a safeguards action plan. No Inspection Panel investigation was registered during the CPS period. 56. During the period FY15-19, INT opened 12 preliminary investigations on complaints received, and ultimately conducted five full investigations, two in agriculture, two in the environment and natural resources sector, and one in the water sector. INT substantiated allegations in four cases. In the fifth case allegations of collusion and fraud were not substantiated, but there were substantial risk indicators, and, in the end, the Bank-financed project did not finance the contracts in question. In the four cases where substantiated allegations had been received, INT found corruption, apart from other misconduct that it substantiated, including fraud and collusion, and in one case, obstruction. Ownership and Flexibility 57. The 2014 CPS program was prepared to address the key priorities of the then government, and was driven by a set of well-established long-running interventions or “development platforms” that taken together with ASAs reinforced each other and enhanced the Bank’s effectiveness. However, these long-running programs appear to be less central to the objectives of the current administration with its emphasis on infrastructure where other development partners have been more active in the past. Partly for that reason the CPE considered that although the Bank has global expertise of relevance to the government, it is currently underused in the country (although this is not an issue addressed in the CLR). The various implementation challenges and the many cancellations of planned FY19 operations could also indicate some issues for the Bank in delivering a program of key interest to the government, but the implementation of the agreed operations has been reasonably good. The WBG demonstrated flexibility in particular in adjusting its program and objectives very considerably in the 2017 PLR. WBG Internal Cooperation 58. Both the original CPS (2014) and the PLR (2017) were prepared jointly by the Bank, IFC, and MIGA, and the results framework contained objectives supported by IFC instruments Some of the World Bank’s ASA were co-led with IFC staff, e.g., in the areas of SME development and logistics. There may possibly have been complementarities between IFC investments (mainly in the financial sector supporting MSMEs plus a couple of investments in renewable energy) and some of the Bank programs/interventions. On IFC AS, the approvals during the CPS period were mainly in PPPs with no apparent links to Bank operations. There is an AS on business climate but there is no information on whether/how the Bank and IFC may have been coordinating this, and the CPE found no evidence to such account. Risk Identification and Mitigation 59. The CPS identified as critical risks associated with the WBG strategy: political risks, institutional risks, the conflict in Mindanao, program delivery risks, and the over-reliance on trust funds. The CPS also noted risk management approaches such as – for program delivery risks – support for better alignment with government priorities and adjustment of the Bank’s internal pipeline planning to the new financing framework and the role pf IBRD financing within the overall government borrowing plan. The discussion of risks and risk management was more substantial in the PLR, which noted that three of nine risk categories were rated substantial (political and governance, sector strategies and policies, and institutional capacity – all related to support for the government’s delivery of its wide-ranging reform agenda). The PLR concluded that proactive Bank Group risk management in close collaboration with development partners and the government would be essential for ensuring strong delivery, while the CLR noted that the identified risks remained relevant throughout the period, and that the mitigation measures were implemented as the risks emerged. Overall Assessment and Rating. 60. On balance, IEG rates the WBG performance as Good. For Official Use Only CLR Review 13 Independent Evaluation Group Design 61. The CPS addressed important development issues and was well aligned with the previous government’s 2011-16 Philippine Development Plan and with the current government’s Development Plan 2017-2022, with the focus on poverty alleviation, the lower 40 percent, and to support reconstruction and development in the conflict-affected areas of Mindanao. However, the recent IEG CPE found that the WBG work program focused on sectors critical for addressing the country’s most pressing development needs and were within the areas of its comparative advantage, but that under the program the Bank’s global expertise has been underused in the Philippines, and that the ASA program might have focused more on support for implementation. The results framework became more appropriate after the major readjustment at the stage of the PLR, but several of the indicators seemed inadequate in relation to the stated objectives. As also noted in the CLR, the program as redesigned in the PLR aligned well with those of other development partners, with significant areas of close cooperation, and the Bank continued also to be able to mobilize significant trust fund resources from these partners. Implementation 62. The Bank delivered a the CLR describes as a “relatively modest” lending program of $3.1 billion (eleven loans over a five-year period) together with very substantial ASAs in support of major government programs. The CLR rightly notes that the IBRD portfolio performance reflected a range of implementation challenges, including procurement delays, postponements in signing, and effectiveness delays followed by cancellation. It was also affected by the change in government priorities after the 2016 elections, with only two loan approvals each in FY17 and FY18, and many project postponements and droppages in FY19. However, the active portfolio performed reasonably well. The average percent of commitment at risk was quite stable during most of the CPS period with an average of 11 percent – lower than for the East Asia and Pacific region (16.9 percent) and the Bank’s worldwide portfolio (21.9 percent). The average number of projects at risk was however higher at 18.4 percent – about the same as for the regional average (18.6 percent) although lower than the Bank worldwide (23.4 percent). 7. Assessment of CLR Completion Report 63. The CLR is well organized, concise, and clear. The various lessons are appropriate, but are focused largely on the “here and now” – some longer-term perspectives would have been useful. And the CLR could have laid out the reasons for the postponements and cancellations in FY19 of planned lending operations. 8. Findings and Lessons 64. The CLR provides a total of 10 lessons with which IEG agrees, including the following: • WBG support should be informed by a careful assessment of the evolving political economy and institutional incentives. • Implementation of policy reforms is a big challenge for the Philippines. • Improving performance of the Bank portfolio requires sustained efforts over the long term. 65. In addition, the CLR also notes the following key lessons from the recent IEG CPE: • The overall balance of ASA could be improved to make it more demand-driven and selective, with greater emphasis on collaborative approaches. • Mindanao (and especially BARMM) could be a focal area for Bank Group’s support, and potentially a model for in-depth regional engagement and local capacity building. • The coordination and sequencing of Bank and IFC interventions for private sector development could be improved with operationalization of the “one Bank” approach. For Official Use Only CLR Review 14 Independent Evaluation Group • Successful programs such as the PRDP (Philippine Rural Development Project) could be implemented to expand presence and operations at the provincial and municipal levels as well as build the capacity of subnational governments. Annexes CLR Review 15 Independent Evaluation Group Annex Table 1: Summary of Achievements of CPS Objectives – Philippines Annex Table 2: Planned and Actual Lending for the Philippines, FY 15-19 ($, millions) Annex Table 3: Advisory Services and Analytics Work for the Philippines, FY 15-19 Annex Table 4: Trust Funds Active for the Philippines, FY 15-19 ($, millions) Annex Table 5: IEG Project Ratings for the Philippines, FY 15-19 ($, millions) Annex Table 6: IEG Project Ratings for the Philippines Country and Comparators, FY15-19 Annex Table 7: Portfolio Status for the Philippines and Comparators, FY15-19 Annex Table 8: Total Net Disbursements of Official Development Assistance and Official Aid for the Philippines ($, millions) Annex Table 9: Economic and Social Indicators for the Philippines, FY 15-18 Annex Table 10: List of IFC Investments in the Philippines ($, millions) Annex Table 11: List of IFC Advisory Services in the Philippines ($, millions) Annex Table 12: IFC Net Commitment Activity in the Philippines, FY15 - FY19 ($, millions) Annex Table 13: List of MIGA Projects Active in the Philippines, FY15-19 ($, millions) Annexes CLR Review 17 Independent Evaluation Group Annex Table 1: Summary of Achievements of CPS Objectives – Philippines CPS FY15-FY19: Focus Area I: Actual Results Transparent and Accountable IEG Comments Government 1. CPS Objective: Increased public revenue mobilization Indicator 1: Percent increase in As part of prior actions of P147803, the The objective was domestic revenue to GDP government implemented several revenue supported by the related reforms: (i) tobacco and alcohol Philippines Third DPL Baseline: 13.6% of GDP (2014) excise tax reforms, (ii) completion and on- (P147803, FY15), the Target: 14.6% of GDP (One line publication of a Tax Expenditure Improving Fiscal percentage point increase, 2019) Statement concerning fiscal incentives for Management DPL investment (program document). In (P167651, FY19), and the addition, prior actions for P167651 included following ASAs: Tax increased excise tax on petroleum products Policy and Admin. Reform and expanded the tax (VAT) base through Support (P145121, FY16), the repeal of non-essential exemptions Strengthening Oversight (program document). (P152707, FY16), Philippine Economic The Ministry of Finance (MOF) reports that Update (P161565, FY17; for 2018, revenue to GDP was 16.4%, with P165002, FY18). tax revenues to GDP at 14.7%. The IMF’s 2018 Article IV Achieved reports that domestic revenue to GDP ratio was 15.1% in 2014 which increased to 15.6% in 2017. Revenues are Major further projected to Outcome increase to 16.2% in Measures 2019. 2. CPS Objective: Improved quality and transparency of public financial reporting Indicator 1: Quality and As part of prior actions of P147803, the The objective was timeliness of annual financial government adopted a unified Account supported by the reports (PEFA indictor P1 25) Code Structure as part of the 2014 budget Philippines Third DPL preparation and implementation (program (P147803, FY15), the Baseline: C+ (2016) document). In addition, prior actions for Improving Fiscal Target: B (2019) P167651 included the implementation of a Management DPL centralized budget management system as (P167651, FY19), and the part of its adopted budget reform agenda following ASAs: (program document). eGovernment Transformation (P145127, The latest PEFA for the Philippines was for FY16), Philippines Public 2016. Sector Governance (PSG) Reform (P132063, FY18), Not Verified and PFM Strategy Implementation Support (P145123, FY16). Indicator 2: Public access to key As part of prior actions of P147803, the The objective was fiscal information (PEFA indicator government established an open data supported by the P1 10) portal (data.gov.ph) (program document). Philippines Third DPL (P147803, FY15), the Baseline: C (2014) The latest PEFA for the Philippines was for Improving Fiscal Target: A (2019) 2016. Management DPL CLR Review Annexes Independent Evaluation Group 18 CPS FY15-FY19: Focus Area I: Actual Results Transparent and Accountable IEG Comments Government (P167651, FY19), and the Not Verified following ASAs: eGovernment Transformation (P145127, FY16), Philippines Public Sector Governance (PSG) Reform (P132063, FY18), and PFM Strategy Implementation Support (P145123, FY16). CPS FY15-FY19: Focus Area II: Actual Results Empowerment of the Poor and IEG Comments Vulnerable 3. CPS Objective: Increased coverage and utilization of health services Indicator 1: Percent of poor The CLR reports that 92% of the identified The objective was household (quintile 1) with households are covered by health insurance supported by the PhilHealth Insurance Coverage coverage data from PhilHealth. PhilHealth Philippines Third DPL reports that 98% of the projected population (P147803, FY15) and the Baseline: 61.6% (2012) in 2018 had insurance coverage. This implies Programmatic AAA for Target: 85% (2019) that at least 90% of the poor households Universal Health Care (quintile 1) was covered by health insurance - (P133115, FY17). assumes that all of the 2% uncovered population was in quintile 1. As part of prior actions of P147803, the government, through the National Household Targeting System for Poverty Reduction (NHTS-PR), targeted the lowest 40% of the population, including PhilHealth effective Major enrollment of poor and near poor in the Outcome bottom 40 percent of the population (program Measures document). Achieved 4. CPS Objective: Improved quality of basic education Indicator 1: Decrease of The ICR:S of P118904 reports that only The objective was students who have zero scores 32.1% of students had a score of zero as of supported by the Learning, in reading comprehension in January 2019. Equity and Accountability Early Grade Reading Program Support Project Assessment (EGRA) Achieved (P118904, FY15), and the Programmatic AAA for Baseline: 79.1 percent (2015) Education (P143024). Target: 65 percent (2019) At the PLR stage, the indicator baseline/target was revised from the original: Baseline: Baseline TBD (School year 2014-2015) CLR Review Annexes Independent Evaluation Group 19 CPS FY15-FY19: Focus Area II: Actual Results Empowerment of the Poor and IEG Comments Vulnerable Target: SY 2015-16: 3% (total and disadvantaged groups) decrease from baseline (Grade 1 students) SY 2016-17: 5% total/3% disadvantaged decrease from previous year’s value (Grade 2 students) SY 2017-2018: 7% /3% disadvantaged decrease from previous year’s value (Grade 3 students) Indicator 2: Increase of students The ICR:S of P118904 reports that only The objective was with at least 60% scores in the 90.2% of students achieved a score of at supported by the Learning, Early Grade Math Assessment least 60% as of January 2019, a 54.2% Equity and Accountability (EGMA) increase. Program Support Project (P118904, FY15), Baseline: 36% (2015-2016) Achieved Philippines Third DPL Target: 51% (15 percentage (P147803, FY15) and the point increase, 2019) Programmatic AAA for Education (P143024). At the PLR stage, the indicator baseline/target was revised from the original: Baseline: TBD (School year 2014-2015) Target: SY 2015-16: 3% decrease from baseline for both total and disadvantaged groups (Grade 1 students) SY 2016-17: 5% decrease /3% disadvantaged groups from previous year’s value (Grade 2 students) 5. CPS Objective: Increased social protection coverage Indicator 1: Share of poor The June 2019 ISR: S of P153744 reports The objective was households receiving conditional that 85.7% of beneficiary households supported by the cash transfer received CCT grants regularly as of Philippines Social Welfare December 2018. Beneficiary households is Development and reform Baseline: 75% (2013) defined as households monitored for the Project II (P153744, Target: 90% (2019) education and health condition, and "poor FY16), its additional beneficiary households" are those who are financing P169637, FY19) identified as such by Listahanan. and the Programmatic AAA for Social Protection and Labor (P148753) Mostly Achieved CLR Review Annexes Independent Evaluation Group 20 CPS FY15-FY19: Focus Area II: Actual Results Empowerment of the Poor and IEG Comments Vulnerable At the PLR stage, the indicator target was revised from the original: 90% (2016) 6. CPS Objective: Improved access to basic services and local planning Indicator 1: Percent increase in The May 2019 ISR: S of P127741 reports The objective was access to roads, education, that access to roads, education, health supported by the health centers and water in centers and water increased from 53% in Philippine National targeted municipalities 2014 to 61% as of December 2018. Community Driven Development Program Baseline: 53% (2014) Mostly Achieved (P127741, FY14). Target: 63% (a total of 10 percentage points At the PLR stage, the over the baseline) (2019) indicator was revised from the original: % Increase in access to and utilization of roads, education, health centers and water through NCDDP Baseline: TBD during CY2014 NCDDP; Target: 5% (2015)/10% (2018) increased across various sector. Indicator 2: Percent of The May 2019 ISR: S of P127741 reports The objective was households in targeted that share of households with at least one supported by the municipalities with at least one member attending regular Barangay Philippine National member attending regular assemblies increased from 56% in 2014 to Community Driven Barangay Assemblies. 80% as of December 2018. Development Program (P127741, FY14). Baseline: 56% (2014) Achieved Target: 70% (2019) CPS FY15-FY19: Focus Area III: Actual Results Rapid, Inclusive and IEG Comments Sustained Economic Growth 7. CPS Objective: Improved transport connectivity Indicator 1: Percent reduction The August 2019 ISR: S of P132317 The objective was in travel times in targeted rural reports that the reduction in travel times supported by the areas increased from 0% in 2014 to 53% as of Philippines Rural Major June 2019. Travel times went from 15 Development Outcome Baseline: 0 % (2014) minutes to 7 minutes per kilometer. Project (PRDP) (P132317, Measures Target: 30% (2019) FY15), its additional Achieved financing (P161994, FY18) and the following ASAs: Philippine transport infrastructure development roadmap framework plan (P145329, FY15), CLR Review Annexes Independent Evaluation Group 21 CPS FY15-FY19: Focus Area III: Actual Results Rapid, Inclusive and IEG Comments Sustained Economic Growth Technical Assistance on Local Roads Management (P162622, FY18), Programmatic AAA for Transport (P147106, FY17). Indictor 2: National roads The IEG ICRR: MS reports that 295 kms The objective was improved (km) of national roads were improved as of supported by the National 2016, compared to the project target of Roads Improvement and Baseline: 280 (2014) 280 kms. Management program Target: 295 (2016) (P079935, FY08). Achieved The indicator baseline corresponds to the program target of P079935. The baseline for the program is 0 kms. Therefore, the program achievement is 295 kms of improved road compared to the formulation of the indicator which shows only an increase of 15 kms. 8. CPS Objective: Simplified business regulations and trade logistics Indicator 1: Increase in private The CLR reports that private sector cost The objective was sector savings savings in 2019 were below target at $3.1 supported by the IFC PH million due to the delay in implementation Agri Trade AS (587207, Baseline: $0 mil (2014) of reforms and exclusion of fisheries FY19). Target: $9 mil (2019) products to be exempted from the permitting processing. The project completion report of 587207 reports that by 2020, $3.1 million in private sector cost savings due to the reforms attributed to the project. Partially Achieved Indicator 2: Increased new The CLR reports that investment in The objective was investment in shipping and shipping and logistics increased from supported by the IFC PH logistic $203 million in 2012 to $499 million in Agri Trade AS (587207, 2017. IEG could not verify this information. FY19). Baseline: $0 mil (2014) The CLR also reports that attribution to Target: $14 mil (2019) the IFC investment is not clear. The completion report of 587207 reports that total additional investment generated between 2015-2018 in the form of domestic gross capital formation in durable equipment for water transport (shipping) amounted to $211.2 million. The report calculates the attribution of the CLR Review Annexes Independent Evaluation Group 22 CPS FY15-FY19: Focus Area III: Actual Results Rapid, Inclusive and IEG Comments Sustained Economic Growth AS at $34 million. However, as the CLR reports, IEG also sees the attribution of the increased investments to the AS to be unclear. Not Verified 9. CPS Objective: Increased access to financial services Indicator 1: Percent of The CLR reports that 18% of the The objective was population in lower 40 percent population in the lower 40% (age 15+) of supported by the ASA of income distribution with the income distribution has access to Financial Inclusion access to formal financial services in 2017 Programmatic (P157969, formal financial services (FINDEX). IEG has verified this FY19). information. At the PLR stage, the Baseline: 10% (2012) indicator target was Target: 17% (2019) Achieved revised from the original: 15% (2016) Indicator 2: Number of SMEs The CLR reports that the indicator cannot The objective was that are credits secured by be measured but a collateral registry was supported by the IFC movable property being set up after the passage of the advisory services Secured Personal Property Security Act in August Transaction (586547, Baseline: 0 (2014) 2018. FY13). Target: 6,930 (2019) The FY19Q2 supervision report of 586547 report that 0 SMEs received loans secured with movable property. The Personal Property Security Act Republic Act No. 11057 was passed only in August 2018. Not Achieved 10. CPS Objective: Improved agriculture productivity and incomes Indicator 1: Percentage The August 2019 ISR: S of P132317 The objective was increase in value of annual reports that the percent increase in value supported by the marketed output in targeted of marketed output was 21.5% as of June Philippines Rural areas 2019. Development Project (PRDP) (P132317, Baseline: 0% (2014) Mostly Achieved FY15) and its additional Target: 30% (2019) financing (P161994, FY18). At the PLR stage, the indicator was revised from the original: Increase in real household incomes (on-, off- and non- farm) of farmer and fisher beneficiaries Baseline: 0; Target: 5% increase per year (for CLR Review Annexes Independent Evaluation Group 23 CPS FY15-FY19: Focus Area III: Actual Results Rapid, Inclusive and IEG Comments Sustained Economic Growth farmers) 10% increase by 2017 for enterprise development Indicator 2: Percentage The August 2019 ISR: S of P132317 The objective was increase in incomes of farmers reports that the percent increase in real supported by the and fisher folk in targeted household incomes of farmers and fisher Philippines Rural provinces folk beneficiaries was 15.2% as of June Development 2019. Project (PRDP) (P132317, Baseline: 0% (2014) FY15) and its additional Target: 25% (2019) Partially Achieved financing (P161994, FY18). CPS FY15-FY19: Focus Area IV: Climate Change, Environment Actual Results IEG Comments and Disaster Risk Management 11. CPS Objective: Increased resilience to natural disasters and climate change Indicator 1: Number of The IEG ICRR: S of P125943 reports The objective was supported provinces that 72 provinces had mainstreamed by First Disaster Risk mainstreamed climate change climate change adaptation and disaster Management Development adaptation and disaster risk risk reduction measures as of October Policy Loan-CAT DDO reduction measures into their 2014. (P125943, FY12) and the ASA Provincial Development and Climate Resilience and Physical Framework plans Achieved Sustainability (P161080, FY19). Baseline: 10 (2014) Target: 60 (2016) At the PLR stage, the indicator baseline was modified to include a year of 2014. The CPS previous baseline did not have a date. In addition, the Major target was also modified by Outcome removing an intermediate Measures target of 30 (2014). Indicator 2: Number of public The CLR reports that 5,962 public The objective was supported facilities (schools, hospitals, facilities (4,046 schools, 350 hospitals, by the ASA Reducing heritage buildings) assessed for 1,164 other public buildings and 402 Vulnerability to Natural vulnerability to natural disaster LGU buildings) were assessed for Disasters (P148631, FY19). vulnerability to natural disasters Baseline: Metro Manila less according to the Department of Public At the PLR stage, the indicator than 20 out of 3,500 building Works and Highways (DPWH). The target was revised from the stock (2015) Project Concept note of P171419 original: Most vulnerable Target: Vulnerability reports that DPWH assessed 5,980 schools and hospitals assessment for 100 buildings buildings (4,047 schools, 351 hospitals upgraded, equivalent to around completed (2019) and facilities, 1,180 other public 200 structures (2017) buildings, and 402 LGU buildings) in 2018. This total exceeds the previous The ASA P171419 is only a CPS/PLR estimate of the building stock source of information as the as indicated by the baseline. Moreover, project has not yet been direct attribution to any WB intervention approved. of these assessments is unclear. CLR Review Annexes Independent Evaluation Group 24 CPS FY15-FY19: Focus Area IV: Climate Change, Environment Actual Results IEG Comments and Disaster Risk Management In addition, IEG can verify that as a result of P148631, 4 cultural heritage buildings and 10 school buildings were additionally assessed during the CPS period (January 2018 Progress Review report and Activity Completion Summary report). In total, almost 6,000 buildings in Metro Manila were assessed during the CPS period. Achieved 12. CPS Objective: Reduction in pollution Indicator 1: Reduce the The CLR reports that 1,611 tons/year of The objective was supported pollution in targeted areas of Biological Oxygen Demand (BOD) was by the Metro Manila Manila Bay reduced in collected wastewater. Wastewater Management Project (P113844, FY12). Baseline: 519 tons per year The September 2019 ISR: MS of (2016) P113844 reports that 2,583 tons/year of Target: 3556 tons per year BOD were reduced in Manila Bay. (2019) Mostly Achieved 13. CPS Objective: Increase access to clean energy Indicator 1: Number of The CLR reports that 25,040 The objective was supported households provided with access households were provided with by the Access to Sustainable to electricity (Off-grid) electricity as of November 2018. Energy Project (ASEP) However, the June 2019 ISR: MU of (P153268, FY16) and the Baseline: 0 (2016) P153268 reports that the project Renewable Energy Target: 40,500 (2019) indicator refers to 25,040 people, not Development Project households as per the indicator. (P147646, FY16) Moreover, the ISR does not include information if the improved access to There are no project ISRs electricity is off-grid. The same ISR available for P147646. reports that by June 2019, 50,000 However, the project PAD people were provided with new or reports that improved access to improved electricity services. In addition, electricity is one of the project 10,000 households received solar home indicators. systems in remote areas of Mindanao. It is unclear whether households that The supporting project received solar home systems is part of measures the indicator using a the 50,000 people cited by the ISR. different unit (people) compared to the indicator According to the Philippine Statistics (households). Authority, the average household size in the Philippines was 4.4 persons in 2015 (2015 Census of Population). Therefore, at least 11,364 households were CLR Review Annexes Independent Evaluation Group 25 CPS FY15-FY19: Focus Area IV: Climate Change, Environment Actual Results IEG Comments and Disaster Risk Management provided with access to electricity as of June 2019. Partially Achieved CPS FY15-FY19: Focus Area V: Peace, Institution Building Actual Results IEG Comments and Social and Economic Opportunities 14. CPS Objective: Increased access to basic services in conflict affected areas Indicator 1: Number of people The ICR: MS of P147008 reports that The objective was supported benefiting from access to roads, 638,000 people, of which 330,738 by the Multi Donor Facility – water systems and postharvest were female, benefited from the PH Mindanao Reconstruction facilities project as of March 2017. & Development Project (P147008, FY15) and Phase II Baseline: 0 (2014) Achieved (P164019, FY18) and the ASA Target: Total 550,000 o/w National Community Driven female: 275,000 (2019) Development Program: Autonomous Region in Muslim Mindanao Component and Peace Lens (P157107, FY16) Major Outcome The CLR reports the project Measures number for the supporting project’s additional financing 15. CPS Objective: Improved community participation in investment planning in conflict affected areas Indicator 1: Percent of The ICR: MS of P147008 reports 86% The objective was supported beneficiaries feel local of beneficiaries in targeted conflict by the Multi Donor Facility – investments reflected their affected areas feel project investments PH Mindanao Reconstruction needs reflect their needs as of March 2017. & Development Project (P147008, FY15) and Phase II Baseline: 0% (2014) Achieved (P164019, FY18). Target: 60% (2019) The CLR reports the project number for the supporting project’s additional financing CLR Review Annexes Independent Evaluation Group 26 Annex Table 2: Planned and Actual Lending for the Philippines, FY 15-19 ($, millions) Proposed Proposed Approved Proposed Approval Closing Project ID Project name IBRD IBRD IBRD FY FY FY Amount Amount Amount Project Planned Under CPS/PLR FY15-19 CPS PLR Philippine Rural Development P132317 FY15 2015 2021 501.3 501.3 Program P147803 DPL3 FY15 2015 2016 300 300 Cebu Bus Rapid Transit P119343 FY16 2015 2021 116 116 (BRT) Project Philippines Social Welfare P153744 FY16 2016 2022 450 450 Development Project 2 Second Disaster Risk P155656 Management Development FY16 2016 2022 500 500 Policy Loan with a CATDDO Access to Sut Energy (P153268) – Trust Fund Metro Manila Bus Rapid P132401 FY17 2017 2023 40.7 40.7 Transit (BRT) Line 1 Project Inclusive Partnerships for P153042 Agriculture Competitiveness FY17 2017 2023 99.3 99.3 (IPAC) Increasing Fiscal Space and DROPPED FY18 300 Transparency DPL Metro Manila Flood P153814 FY18 2018 2025 210 207.6 Management Philippine Rural Development P161944 Project Additional Financing FY18 2018 150 170.0 (Tranche 1) Supporting Resilient Communities and Responsive FY18 0 Local Governance in Mindandao (Grant Fudned) Customs and Trade P163428*** FY19 200 Modernization Project E-Government DROPPED FY19 50 Transformation P170052*** Competitiveness DPL1 FY19 300 Mindanao Inclusive P163107*** FY19 100 Agriculture Basic Education with Focus P164765*** FY19 100 on Mindanao Promoting Citizen Security & DROPPED Justice in Mindanao (Grant- FY19 0 funded Scholarship Project for P168235*** Strengthening Institutional FY19 100 Capacity Micro, Small and Medium DROPPED Enterprise (MSME) FY19 125 Development (PforR) CLR Review Annexes Independent Evaluation Group 27 Total Planned 0 3642.3 2384.9 Approved Unplanned Projects during the CPS Approval Closing IBRD Period FY FY Amount P167651 Improving Fiscal Management 2019 2020 450.0 SWDRP II Project Additional P169637 2019 300.0 Financing Total Unplanned 0 750 Approved On-going Projects during the CPS/PLR Approval Closing IBRD Period FY FY Amount Learning, Equity and P118904 2014 2019 300.0 Accountability Prog P127741 PH National CDD Program 2014 2020 479.0 Supplemental P148862 2014 2015 500.0 Financing:Philippines DPL2 PH-SWDRP Additional P122702 2013 2016 100.0 Financing PH - PH Development Policy P126580 2013 2015 300.0 Loan 2 PH - Regl Infrastructure for P108904 2012 2015 50.0 Growth Proj Manila Wastewater P113844 2012 2020 275.0 Management Project P125943 Philippines: CAT DDO DPL 2012 2015 500.0 PH-Social Welfare and P082144 2010 2016 405.0 Development Reform PH-Participatory Irrigation P088926 2009 2019 70.4 Development PH- Natl Rds Improv. & Mgt P079935 2008 2017 232.0 Ph.2 PH Mindanao Rural Dev. P084967 2007 2015 83.8 Project - Phase 2 PH-SUPPORT FOR P064925 STRATEGIC LOCAL DEV & 2006 2016 100.0 INV Total On-going 3,395 Source: CPS and PLR, WB BI as of 9/24/19 *LIR: Latest internal rating. MU: Moderately Unsatisfactory. MS: Moderately Satisfactory. S: Satisfactory. HS: Highly Satisfactory. ** Rating from Parent Project *** Pipeline FY20 and 21 CLR Review Annexes Independent Evaluation Group 28 Annex Table 3: Advisory Services and Analytics Work for the Philippines, FY 15-19 Fiscal Product Proj ID Project Name Practice year Line Impact Evaluation of Quality Incentives in P143697 2019 AA Health, Nutrition & Population Primary Care (I3QUIP) Social, Urban, Rural and Resilience P148631 Reducing Vulnerability to Natural Disasters 2019 AA Global Practice Integrating Sanitation Programming in the P150579 2019 AA Water Pantawid Pamilya Program in the Philippines Finance, Competitiveness and P153218 Philippines: Disaster Risk Financing 2019 AA Innovation Support to the Development of a Post-Disaster Social, Urban, Rural and Resilience P153853 2019 AA Shelter Recovery Policy Framework Global Practice Philippines Health Financing Review and P157225 2019 AA Health, Nutrition & Population System Strengthening Philippine Financial Development and Inclusion Finance, Competitiveness and P157969 2019 AA Programmatic Innovation Operational Tools for Service Delivery P158746 Constraints and Possibilities Assessment 2019 AA Health, Nutrition & Population (ARMM, Philippines) Developing and Emergency Cash Transfer for P159824 Increase Household Resilience to Disasters in 2019 AA Social Protection & Jobs the Philippines Philippines - Climate Resilience and P161080 2019 AA Environment & Natural Resources Sustainability Philippines Social Protection Programs and P162701 2019 AA Social Protection & Jobs Policies Advisory Services and Analytics Finance, Competitiveness and P164568 PH SME Productivity Programmatic 2019 AA Innovation P165152 Philippines Agro-food Policy 2019 AA Agriculture and Food Finance, Competitiveness and P165293 Agricultural Finance in the Philippines 2019 AA Innovation Macroeconomics, Trade and P165526 Philippines Growth and Productivity Report 2019 AA Investment Strengthening Human Resources in the Public P165839 2019 AA Governance Sector - Landscape and Options Towards an Integrated and Unified Water P166368 2019 AA Water Sector Plan Mindanao Strategy Communication and P166421 2019 AA Other Dissemination Philippines Macromonitoring and Economic Macroeconomics, Trade and P168128 2019 AA Updates 2019 Investment Philippines Public Sector Governance (PSG) P132063 2018 AA Governance Reform Philippine Wealth Accounting and the Valuation P133810 2018 AA Environment & Natural Resources of Ecosystem Services Macroeconomics, Trade and P144809 Policy Analysis for More Inclusive Growth 2018 PA Investment P145122 Program Spending Assessments/Drill-downs 2018 TA Governance Social, Urban, Rural and Resilience P151106 Local Enterprise Development IE 2018 AA Global Practice P152107 Philippines Poverty Program 2018 AA Poverty and Equity CLR Review Annexes Independent Evaluation Group 29 Fiscal Product Proj ID Project Name Practice year Line Technical Assistance Support to DOTC for PPP P160521 2018 TA Transport Capacity-Building Report on the Observance of Standards and P161117 Codes, Accounting and Auditing (A&A ROSC), 2018 AA Governance Philippines Support to identify and develop strategies to P161353 scale up budget execution and provide front- 2018 AA Governance line service delivery Assessment of the Post-Yolanda Short and Social, Urban, Rural and Resilience P161372 Medium-term Recovery and Rehabilitation 2018 AA Global Practice Interventions of the Government (Philippines) Philippines Urbanization Review Ph.2: Social, Urban, Rural and Resilience P162265 Improving Local Infrastructure and Service 2018 AA Global Practice Delivery Philippines National Informal Settlement Social, Urban, Rural and Resilience P162606 2018 AA Upgrading Global Practice Technical Assistance on Local Roads P162622 2018 AA Transport Management Finance, Competitiveness and P162771 NSFI implementation support 2018 AA Innovation P162923 Philippine Poverty Assessment 2018 AA Poverty and Equity The Philippines: Local Infrastructure and Social, Urban, Rural and Resilience P162991 Economic Development for Sustainable and 2018 AA Global Practice Inclusive Tourism Growth P163822 Improving Energy Efficiency in Public Buildings 2018 AA Energy & Extractives Macroeconomics, Trade and P165002 Philippines Economic Update FY 2018 2018 AA Investment P133115 Programmatic AAA for Universal Health Care 2017 PA Health, Nutrition & Population Programmatic AAA on Decentralization and Social, Urban, Rural and Resilience P146277 2017 PA Local Governance Global Practice P146306 Philippines STEP Skills Report 2017 EW Education Programmatic AAA on Conflict, Security and Social, Urban, Rural and Resilience P146397 2017 PA Development in the Philippines Global Practice P147106 Programmatic AAA for Transport 2017 PA Transport Strengthening Grassroots Participatory Social, Urban, Rural and Resilience P147463 2017 TA Budgeting M&E Systems Global Practice Strengthening Grassroots Participatory Social, Urban, Rural and Resilience P147464 2017 TA Planning and Budgeting Global Practice Mainstream Climate Change in the Budget and P148455 2017 PA Environment & Natural Resources Investment Programing Process Programmatic AAA for Social Protection and P148753 2017 PA Social Protection & Jobs Labor Programmatic AAA on Agriculture and P149000 2017 PA Agriculture and Food Agribusiness for Inclusive Growth Macroeconomics, Trade and P149004 Mindanao Jobs Report 2017 EW Investment Mainstreaming Climate Change Priorities in the P149160 2017 TA Environment & Natural Resources Budgeting Process Aligning Plans and Strengthening P149161 2017 TA Environment & Natural Resources Implementation of Climate Change PAPs CLR Review Annexes Independent Evaluation Group 30 Fiscal Product Proj ID Project Name Practice year Line P149400 Policy dialogue and on-demand TA 2017 TA Health, Nutrition & Population P150519 CCT business processes, GRS and MIS 2017 TA Social Protection & Jobs Impact Evaluation of the Philippines CCT P150532 2017 TA Social Protection & Jobs Program Supporting Reform Coalitions and Inclusive P154860 Institutions for Sustainable Change in the 2017 TA Governance Philippines Social, Urban, Rural and Resilience P156212 Land Conflict in Mindanao 2017 EW Global Practice Social, Urban, Rural and Resilience P156898 Philippines Ubanization Review 2017 EW Global Practice P160842 Sulong: CSO Consultative Workshop 2017 TE Other Philippines Integrated Water Sector P161383 2017 AA Water Development Philippines: Developing a National Competition P161438 Policy for Increased Competitiveness and 2017 AA Other Growth Macroeconomics, Trade and P161565 Philippine Economic Update FY 2017 2017 AA Investment P123636 Power Sector Strategy Advice 2016 TA Energy & Extractives P126760 Philippines: Strengthening Public Finances 2016 TA Governance Technical Assistance Support to the Priority P127147 2016 TA Transport PPP Projects in the Philippines Metro Manila Green Print for Addressing Slum Social, Urban, Rural and Resilience P130344 2016 TA Challenges Global Practice HIV Prevention in Metro Manila and Metro P132149 2016 TA Health, Nutrition & Population Cebu Support to Rural Sanitation Scale Up under the P132174 2016 TA Water Philippine National Sustainable Sanitation Plan Expanded Small Water Utilities Improvement P132305 2016 TA Water and Financing Phase 2 P133408 PH: Building Blocks for E-Services 2016 TA Transport P143024 Programmatic AAA for Education 2016 PA Education Philippines Automous Muslim Region of P144796 Mindanao (PH-ARMM) Public Expenditure and 2016 TA Governance Institutional Review P145121 Tax Policy and Admin. Reform Support 2016 TA Governance P145123 PFM Strategy Implementation Support 2016 TA Governance P145127 eGovernment Transformation 2016 TA Governance Towards a More Sustainable Local Roads P145440 2016 TA Transport Program Establishing an Integrated Water Resource P145982 Management (IWRM) Planning Tools and 2016 TA Water Guidelines; and Capacity Building P146186 Programmatic AAA for Water and Sanitation 2016 PA Water P146303 Basic Education PETS-QSDS 2016 EW Education P146307 Alternative Learning System Study 2016 EW Education CLR Review Annexes Independent Evaluation Group 31 Fiscal Product Proj ID Project Name Practice year Line P147302 Improving Education Service Delivery 2016 TA Education Programmatic AAA on Metro Manila Social, Urban, Rural and Resilience P147330 2016 PA Development Global Practice Philippines: Supporting Inclusive Peace in the Social, Urban, Rural and Resilience P148822 2016 TA Bangsamoro Global Practice Macroeconomics, Trade and P149001 Philippine economic update 2016 EW Investment Macroeconomics, Trade and P149002 Supporting the PSA and SEC 2016 TA Investment Macroeconomics, Trade and P149094 Inclusive economic institutions 2016 EW Investment Enhancing financial protection for the poor P149397 2016 TA Health, Nutrition & Population through Philhealth Social, Urban, Rural and Resilience P149851 ARMM/Bangsamoro Open Data Initiative 2016 TA Global Practice Social, Urban, Rural and Resilience P149905 Sustainable Housing Solutions for ISFs 2016 TA Global Practice P149961 Water Sector Financing Framework 2016 TA Water NHTS-PR2: Updating and improving National P150527 2016 TA Social Protection & Jobs Household Targeting System P150530 SP and disaster preperadness 2016 TA Social Protection & Jobs P150534 Social insurance issues note 2016 TA Social Protection & Jobs P150535 Labor Market Review 2016 TA Social Protection & Jobs Metro Manila Citywide Development Approach Social, Urban, Rural and Resilience P151920 2016 TA to Informal Settlement Upgrading Project Global Practice P152292 Supporting Business Innovations in DPWH 2016 TA Transport P152707 Strengthening Oversight 2016 TA Governance Finance, Competitiveness and P153163 Islamic Finance and Financial Inclusion 2016 TA Innovation Philippines Open Government Support, Phase P154297 2016 TA Governance II P154540 NWRB Permit Management Process 2016 TA Water Social, Urban, Rural and Resilience P155561 Housing and Urban Development Summit 2016 TA Global Practice Finance, Competitiveness and P156082 Philippines NRA 2016 TA Innovation Moro Islamic Liberation Front Ex-Combatants Social, Urban, Rural and Resilience P157106 2016 EW Skills, Needs & Aspirations Assessment Global Practice National CDD Program: Autonomous Region in P157107 2016 TA Other Muslim Mindanao Component & Peace Lens P159405 Poverty analysis, policies, and programs 2016 EW Poverty and Equity P159406 Strengthening Household Surveys 2016 TA Poverty and Equity P159407 Improving Poverty Measurement Methodolog 2016 TA Poverty and Equity P150837 Agri Situationer 2015 TA Other P150516 CCT expansion to secondary education 2015 TA Social Protection & Jobs P128655 Disaster Risk Mgt Programmatic AAA 2015 TA Urban, Resilience and Land CLR Review Annexes Independent Evaluation Group 32 Fiscal Product Proj ID Project Name Practice year Line Finance, Competitiveness and P132497 Financial Sector Development 2015 PA Innovation P123332 Flood Mgmt Master Plan for Metro Manila 2015 TA Water P144558 Improving Bureaucratic Performance 2015 TA Governance P149399 Measuring equity in progress toward UHC 2015 EW Health, Nutrition & Population P123163 Metro Manila Bay Initiative 2015 TA Urban, Resilience and Land P150458 Owner-driven Housing Reconstruction 2015 TA Urban, Resilience and Land P147466 PDF-WG and DIALOG TF Supervision 2015 TA Urban, Resilience and Land Finance, Competitiveness and P147156 Philippines #A019 CrisisPreparednessFmwk 2015 TA Innovation P143504 Philippines - Agribusiness AAA 2015 TA Agriculture and Food Finance, Competitiveness and P144143 Philippines Fin.Educ&Consumer Protection 2015 TA Innovation P132318 Philippines Sub-national Debt Policy TA 2015 TA Urban, Resilience and Land P149758 Philippines Yolanda Recovery Case Study 2015 EW Climate Change P118853 Programmatic AAA on Social Protection 2015 TA Social Protection & Jobs P149398 Strengthening primary care delivery 2015 TA Health, Nutrition & Population Environment, Natural Resources & P144021 Support to Address Climate Change 2015 PA the Blue Economy P148999 Support to Post Typhoon Reconstruction 2015 TA Urban, Resilience and Land P126116 Transport Crowd-Source ICT Demonstration 2015 TA Transport P145329 Transport Development Framework Plan TA 2015 TA Transport Finance, Competitiveness and P144061 strengthening deposit insurance 2015 TA Innovation Source: WB Business Intelligence 9/24/19 and Standard Reports AA= Advisory Services and Analytics. PA = Programmatic approach / TA = Technical Assistance / EW - Economic and Sector Work / TE = External Training / IE = Impact Evaluation CLR Review Annexes Independent Evaluation Group 33 Annex Table 4: Trust Funds Active for the Philippines, FY 15-19 ($) Project Approval Closing Approved Project name TF ID ID FY FY Amount P147646 Philippines Renewable Energy Development TF A2618 2016 2022 44,000,000 Mindanao Trust Fund-Reconstruction and Development P164019 TF A7280 2018 2021 2,650,000 Project Phase II Mindanao Trust Fund-Reconstruction and Development P164019 TF A7281 2018 2021 550,000 Project Phase II P132401 Metro Manila BRT Line 1 Project TF A2129 2017 2023 23,900,000 Philippines Program for Climate Resilience: TA for the Risk P157325 TF A3248 2017 2020 150,000 Resiliency and Sustainability Program Second Philippines Extractive Industries Transparency P157976 TF A2761 2017 2019 1,500,000 Initiative (EITI) Support Project P152525 Bangsamoro Conflict Monitoring System TF A1161 2016 2018 544,000 P153268 Access to Sustainable Energy Project TF A2379 2016 2020 20,833,400 P153268 Access to Sustainable Energy Project TF A2497 2016 2019 3,000,000 P154844 Capacity Development Support to the Commission on Audit TF A1162 2016 2019 303,000 Carbon Asset Development - Methane Recovery from Waste P152805 TF 19049 2016 2021 410,000 Mgmt Project Preparation of a Program Towards Sustainable Flood P145237 TF 18611 2015 2020 2,730,000 Management in the Greater Metro Manila Area Project Philippines: Methane Recovery from Waste Management P115080 TF A2867 2017 2022 1,558,251 Project Philippines: Methane Recovery from Waste Management P115080 TF A1705 2016 2022 7,646,975 Project Philippines: Methane Recovery from Waste Management P115080 TF A0254 2015 2022 8,954,400 Project Philippines: Methane Recovery from Waste Management P115080 TF 95936 2010 2017 3,511,438 Project P145391 Studies for Sustainable Flood Management TF 17736 2015 2019 7,000,000 P132424 Philippine Rural Development Project TF 17788 2015 2021 7,000,000 P119343 Cebu Bus Rapid Transit (BRT) Project TF 17646 2015 2021 25,000,000 Philippines: Extractive Industries Transparency Initiative P128290 TF 17249 2015 2016 1,080,000 Implementation Philippine Wealth Accounting and the Valuation of Ecosystem P146075 TF 16218 2014 2017 700,615 Services RETF Guarding the Integrity of the Conditional Cash Transfer P147890 TF 15863 2014 2018 800,000 Program Open Data Platform for Monitoring Poverty Reduction P143743 TF 14356 2014 2017 150,000 Programs Capacity Bldg. of MMDA to Formulate & Implement the Green P143536 TF 14355 2014 2017 150,000 Print 2030 Capturing Coral Reef and Related Ecosystem Services P123933 TF 15409 2014 2019 4,500,000 (CCRES) P144176 Enhancing the Income and Asset Declaration System TF 14504 2013 2016 230,000 MULTI DONOR FACILIT Y - PH MINDANAO P095173 TF 13118 2013 2017 2,429,178 RECONSTRUCTION & DEVELOPMENT CLR Review Annexes Independent Evaluation Group 34 Project Approval Closing Approved Project name TF ID ID FY FY Amount MULTI DONOR FACILIT Y - PH MINDANAO P095173 TF 95941 2010 2017 9,221,881 RECONSTRUCTION & DEVELOPMENT MULTI DONOR FACILIT Y - PH MINDANAO P095173 TF 93781 2009 2017 10,009,620 RECONSTRUCTION & DEVELOPMENT Community Enterprise Development as Pathway Out of P132246 TF 12886 2013 2018 2,929,000 Poverty Institutionalizing Zero-Based Budgeting/Program Evaluation in P129377 TF 11843 2013 2016 300,000 the Government P115184 Philippines Public Health TF 10757 2012 2016 3,650,000 Philippines: Social Inclusion and Alternative Livelihood for the P130444 TF 12037 2012 2016 2,858,134 Informal Waste Sector Strengthening the Capacity of Procurement Institutions for P129400 Effective Implementation and Enforcement of the Procurement TF 11725 2012 2015 180,000 Law Philippines: Manila Bay Integrated Water Quality Management P127694 TF 10472 2012 2015 250,000 Project P123385 Traffic and Transport Management for Philippine CDS Cities TF 98692 2012 2015 435,000 Capacity Building for the Philippines' Public-Private P125505 TF 99316 2012 2015 180,000 Partnership Center Operationalizing Institutional Mechanisms for Performance P125479 Accountability in the Philippines Health Insurance Corporation TF 99315 2012 2015 205,100 (PhilHealth Monitoring & Communicating Results: Capacity-Building for the P125420 TF 99314 2012 2015 125,000 Office of the Presidential Adviser on the Peace Process P106885 Integrated POPs Management TF 95839 2010 2018 8,640,000 Developing a National Slum Upgrading Strategy for the P126971 TF 99881 2011 2015 455,000 Philippines P101076 Climate Change Adaptation Program TF 96649 2011 2017 4,974,000 Improving Livelihood Opportunities for Vulnerable Urban P122565 TF 97254 2011 2015 3,000,000 Communities P114119 PH - Chiller Energy Efficiency Project TF 95991 2010 2017 2,600,000 P114119 PH - Chiller Energy Efficiency Project TF 96093 2010 2017 1,000,000 Mindanao Rural Development Program (MRDP) Phase II - P096836 TF 94704 2010 2015 6,351,000 Natural Resource Management Component P106732 Philippines Ethanol Plant Wastewater Biogas Project TF 93552 2009 2018 3,200,000 P084967 Mindanao Rural Development Project - Phase 2 TF 11929 2012 2015 3,000,000 P094573 Laguna de Bay Community Watershed Rehab TF 56934 2006 2018 121,211 P088002 Laguna de Bay Community Carbon Finance Project TF 56933 2006 2018 304,605 P087464 Philippines: Northwind Bangui Bay Project TF 54444 2005 2017 1,513,000 Total 236,783,809 Source: Client Connection as of 9/24/19 ** IEG Validates RETF that are 5M and above CLR Review Annexes Independent Evaluation Group 35 Annex Table 5: IEG Project Ratings for the Philippines, FY 15-19 Total Exit IEG Risk to Proj ID Project name Evaluated IEG Outcome FY DO ($M) * PH Mindanao Rural Dev. Project - MODERATELY 2015 P084967 79.7 MODERATE Phase 2 SATISFACTORY PH-GEF-IF-MANILA SEWERAGE MODERATELY 2015 P089082 0.0 SIGNIFICANT 3 UNSATISFACTORY 2015 P125943 Philippines: CAT DDO DPL 500.0 SATISFACTORY MODERATE PH-SUPPORT FOR STRATEGIC 2016 P064925 103.8 SATISFACTORY SIGNIFICANT LOCAL DEV & INV PH-Social Welfare and 2016 P082144 505.0 HIGHLY SATISFACTORY SUBSTANTIAL Development Reform MODERATELY 2017 P079935 PH- Natl Rds Improv. & Mgt Ph.2 186.4 MODERATE SATISFACTORY PH Mindanao Trust Fund-Reconstr 2017 P095173 0.0 SATISFACTORY # & Dev PH GEF-SCCF-Climate Change MODERATELY 2017 P101076 0.0 MODERATE Adaptation SATISFACTORY PH-GEF-Chiller Energy Efficiency 2017 P114119 0.0 SATISFACTORY LOW Project PH-GEF Integrated POPs HIGHLY 2018 P106885 0.0 # Management Proj UNSATISFACTORY PH-Participatory Irrigation MODERATELY 2019 P088926 58.0 # Development SATISFACTORY Studies for Sustainable Flood MODERATELY 2019 P145391 0.0 # Mgmt. SATISFACTORY Total 1,432.9 Source: AO Key IEG Ratings as of 9/24/19 Annex Table 6: IEG Project Ratings for the Philippines Country and Comparators, FY15-19 RDO % RDO % Total Total Outcome Outcome Moderate or Moderate or Region Evaluated Evaluated % Sat ($) % Sat (No) Lower Lower ($M) (No) Sat ($) Sat (No) Philippines 1,432.9 12 100.0 83.3 55.7 50.0 EAP 14,484.9 156 96.0 87.2 42.4 51.4 World 90,337.3 958 84.7 77.3 42.7 39.7 Source: WB AO as of 9/24/19 CLR Review Annexes Independent Evaluation Group 36 Annex Table 7: Portfolio Status for the Philippines and Comparators, FY15-19 ($, millions) Fiscal year 2015 2016 2017 2018 2019 Ave FY15-19 Philippines # Proj 10 9 10 11 9 10 # Proj At Risk 2 2 2 1 2 2 % Proj At Risk 20.0 22.2 20.0 9.1 22.2 18.4 Net Comm Amt 2,878.6 2,923.6 2,831.6 3,209.2 3,489.6 3,067 Comm At Risk 400.0 370.4 416.0 116.0 391.0 339 % Commit at Risk 13.9 12.7 14.7 3.6 11.2 11.0 EAP # Proj 246 245 265 269 273 260 # Proj At Risk 44 44 46 57 51 48 % Proj At Risk 17.9 18.0 17.4 21.2 18.7 18.6 Net Comm Amt 31,596.5 32,345.5 34,830.5 35,309.7 36,225.1 34,061 Comm At Risk 6,242.9 4,672.6 5,316.1 6,693.7 5,782.0 5,741 % Commit at Risk 19.8 14.4 15.3 19.0 16.0 16.9 World # Proj 1,402 1,398 1,459 1,497 1,570 1,465 # Proj At Risk 339 336 344 348 346 343 % Proj At Risk 24.2 24.0 23.6 23.2 22.0 23.4 Net Comm Amt 191,907.8 207,350.0 212,502.9 229,965.6 243,812.2 217,108 Comm At Risk 44,430.7 42,715.1 50,837.9 48,148.8 51,949.5 47,616 % Commit at Risk 23.2 20.6 23.9 20.9 21.3 21.9 Source: WB BI as of 9/24/19 Note: Only IBRD and IDA Agreement Type are included CLR Review Annexes Independent Evaluation Group 37 Annex Table 8: Total Net Disbursements of Official Development Assistance and Official Aid for the Philippines ($, millions) Development Partners 2014 2015 2016 All Donors, Total 515.31 283.65 160.25 DAC Countries, Total 533.88 268.77 163.28 Australia 92.5 53.83 53.93 Austria 0.38 1.18 3.64 Belgium 4.81 4.6 3.14 Canada 15.79 13.93 10.61 Czech Republic 0.05 0.06 0.1 Denmark 0.34 0.05 -0.02 Finland 0.79 0.49 0.65 France -13.79 45.61 -11.59 Germany 32.56 33.11 34.95 Hungary 0.04 0.06 0.04 Iceland 0.04 .. .. Ireland 0.5 0.3 0.19 Italy 3.83 3.5 4.53 Japan 70.3 -210.6 -141.71 Korea 44.04 59.95 37.43 Luxembourg 1.49 1.57 1.68 Netherlands .. 0.44 0.57 New Zealand 6.43 3.05 2.27 Norway 1.74 1.23 2.92 Poland 0.03 .. 0 Slovak Republic .. .. 0.01 Spain 1.21 1.1 2.63 Sweden 5.02 5.73 7.08 Switzerland 1.61 1.88 1.57 United Kingdom 13.93 7.65 9.65 United States 250.25 240.06 138.99 Multilaterals, Total -18.62 10.67 -4.63 EU Institutions 10.33 42.33 28.28 Regional Development Banks, Total -88.9 -92.47 -93.54 Asian Development Bank, Total -88.9 -92.49 -93.64 Asian Development Bank [AsDB] -88.9 -92.49 -93.64 Islamic Development Bank [IsDB] .. 0.01 0.1 United Nations, Total 19.69 17.79 13.76 International Atomic Energy Agency [IAEA] 0.35 0.38 0.48 IFAD 3.88 1.68 -0.79 CLR Review Annexes Independent Evaluation Group 38 International Labour Organisation [ILO] 1.71 1.5 1.7 UNAIDS 0.35 0.33 0.19 UNDP 1.78 1.37 0.71 UNFPA 3.85 3.78 2.4 UNHCR 0.45 1.62 2.41 UNICEF 3.96 3.61 2.98 UN Peacebuilding Fund [UNPBF] 0.76 1.1 0.96 WFP 0.52 0.99 1.31 World Health Organisation [WHO] 2.08 1.43 1.39 World Bank Group, Total -6.95 -10.35 -13.86 World Bank, Total -6.95 -10.35 -13.86 International Development Association [IDA] -6.95 -10.35 -13.86 Other Multilateral, Total 47.22 53.37 60.73 Central Emergency Response Fund [CERF] .. .. 2.48 Global Environment Facility [GEF] 5.62 7.01 7.26 Global Fund 36.63 37.98 53.1 Global Green Growth Institute [GGGI] 0.77 1.86 1.66 Montreal Protocol 0.1 .. .. Nordic Development Fund [NDF] -3.99 -0.28 -0.28 OPEC Fund for International Development [OFID] 8.1 6.8 -3.49 Non-DAC Countries, Total 0.04 4.21 1.6 Estonia 0.04 .. .. Israel 0.03 0.06 .. Kuwait -1.21 -1.2 -1.2 Lithuania 0 .. .. Malta 0 0.03 0.01 Romania 0 0 .. Thailand 0.23 0.12 0.31 Turkey 0.8 2.76 1.49 United Arab Emirates 0.14 2.2 0.81 Private Donors, Total 3.75 5.93 6.98 Arcus Foundation 0.11 0.04 0.14 Bill & Melinda Gates Foundation 3.39 5.89 6.48 Conrad N. Hilton Foundation 0.25 .. 0.08 David & Lucile Packard Foundation .. .. 0.04 Ford Foundation .. .. 0.01 William & Flora Hewlett Foundation .. .. 0.25 Source: OECD Stat, [DAC2a] as of 10/7/19 * Data only available up to FY17 Annexes CLR Review 39 Independent Evaluation Group Annex Table 9: Economic and Social Indicators for the Philippines, FY 15-18 Philippines EAP World Series Name 2015 2016 2017 2018 Average 2015-2018 Growth and Inflation GDP growth (annual %) 6.1 6.9 6.7 6.2 6.5 7.1 2.7 GDP per capita growth (annual %) 4.4 5.3 5.1 4.8 4.9 5.7 1.5 GNI per capita, PPP (current international $) 8,850.0 9,370.0 10,030.0 10,720.0 9,742.5 5,678.4 15,698.6 GNI per capita, Atlas method (current $) (Millions) 3,510.0 3,570.0 3,650.0 3,830.0 3,640.0 1,547.4 10,608.1 Inflation, consumer prices (annual %) 0.7 1.3 2.9 5.2 4.7 2.0 Composition of GDP (%) Agriculture, value added (% of GDP) 10.3 9.7 9.7 9.3 18.1 3.8 Industry, value added (% of GDP) 30.9 30.7 30.4 30.7 28.4 27.5 Services, etc., value added (% of GDP) 58.8 59.6 59.9 60.0 53.5 68.6 Gross fixed capital formation (% of GDP) 22.0 24.6 25.0 26.8 24.6 27.4 23.4 Gross domestic savings (% of GDP) 15.3 15.1 15.3 14.2 15.0 32.2 18.8 External Accounts Exports of goods and services (% of GDP) 28.4 28.1 31.0 31.7 29.8 19.5 29.3 Imports of goods and services (% of GDP) 34.3 37.4 40.9 44.4 39.2 23.0 28.7 Current account balance (% of GDP) 2.5 (0.4) (0.7) (2.4) External debt stocks (% of GNI) 21.6 19.9 19.4 .. 22.9 Total debt service (% of GNI) 3.0 3.0 2.9 .. 3.1 Total reserves in months of imports 9.9 8.8 7.8 7.0 7.5 13.0 Fiscal Accounts /1 General government revenue (% of GDP) 19.4 19.1 19.6 20.0 19.5 General government total expenditure (% of GDP) 18.8 19.5 19.9 21.0 19.8 General government net lending/borrowing (% of GDP) 0.6 (0.4) (0.4) (1.0) -0.3 General government gross debt (% of GDP) 41.5 39.0 39.9 39.6 40.0 Health Life expectancy at birth, total (years) 70.6 70.8 71.0 .. 70.8 68.3 71.8 Annexes CLR Review 40 Independent Evaluation Group Philippines EAP World Series Name 2015 2016 2017 2018 Average 2015-2018 Immunization, DPT (% of children ages 12-23 months) 60.0 86.0 72.0 65.0 70.8 84.9 85.4 Improved sanitation facilities (% of population with 50.1 50.9 51.6 .. 50.9 44.6 67.3 access) Improved water source (% of population with access) 92.6 93.1 93.6 .. 93.1 90.8 84.2 Mortality rate, infant (per 1,000 live births) 23.7 23.4 22.9 22.5 23.1 40.4 31.4 Education School enrollment, preprimary (% gross) 100.4 95.5 .. .. 18.2 48.1 School enrollment, primary (% gross) 113.0 110.9 .. .. 111.9 109.1 104.2 School enrollment, secondary (% gross) 88.3 89.1 .. .. 88.7 64.8 76.4 School enrollment, tertiary (% gross) .. .. 35.3 .. Population Population, total 102,113,212 103,663,927 105,173,264 106,651,922 104,400,581 2,034,875,977 7,467,978,056 Population growth (annual %) 1.6 1.5 1.4 1.4 1.5 0.7 1.1 Urban population (% of total population) 46.3 46.5 46.7 46.9 46.6 54.1 54.6 Rural population (% of total population) 53.7 53.5 53.3 53.1 53.4 45.9 45.4 Poverty Poverty headcount ratio at $1.90 a day (2011 PPP) (% of 6.1 .. .. .. pop) Poverty headcount ratio at national poverty lines (% of 21.6 .. .. .. pop) Rural poverty headcount ratio at national poverty lines (% .. .. .. .. of rural pop) Urban poverty headcount ratio at national poverty lines .. .. .. .. (% of urban pop) GINI index (World Bank estimate) 44.4 .. .. .. Source: Worldbank DataBank as of 9/27/19 *International Monetary Fund, World Economic Outlook Database, April 2019 ** Data only available up to FY18 *** EAP = IDA IBRD Countries Annexes CLR Review 41 Independent Evaluation Group Annex Table 10: List of IFC Investments in the Philippines ($, thousands) Investments Committed in FY15-FY19 Net Net Total Net Project Cmt Project Primary Sector Orig Cmt- Commitment Commitment Commitment ID FY Status Name IFC Bal (LN) (EQ) (LN+EQ) 40383 2019 Active Health Care 40,000.0 40,000.0 - 40,000.0 40681 2019 Active Finance & Insurance 10,000.0 - 10,000.0 10,000.0 41290 2019 Active Finance & Insurance 150,000.0 150,000.0 - 150,000.0 Collective Investment 42102 2019 Active 20,000.0 - 20,000.0 20,000.0 Vehicles Accommodation & 37715 2018 Active 12,839.5 - 12,839.5 12,839.5 Tourism Services 39842 2018 Active Electric Power 90,000.0 90,000.0 - 90,000.0 40419 2018 Active Finance & Insurance 150,000.0 150,000.0 - 150,000.0 34754 2017 Active Electric Power 63,989.6 63,989.6 - 63,989.6 Collective Investment 38633 2017 Active 15,000.0 - 15,000.0 15,000.0 Vehicles 39013 2017 Closed Finance & Insurance - - - - 35344 2016 Active Finance & Insurance 11,437.5 11,437.5 - 11,437.5 35399 2016 Closed Finance & Insurance 37,339.7 37,339.7 - 37,339.7 36969 2016 Active Finance & Insurance 3,388.9 3,388.9 - 3,388.9 37489 2016 Active Finance & Insurance 75,000.0 50,000.0 - 50,000.0 31942 2015 Active Finance & Insurance 39,964.2 19,081.4 150.0 19,231.4 34115 2015 Closed Finance & Insurance 30,000.0 30,000.0 - 30,000.0 35471 2015 Active Education Services 20,009.7 3,810.5 16,199.2 20,009.7 Sub-Total 768,969.2 649,047.6 74,188.7 723,236.4 Annex Table 10: List of Investments Committed pre-FY15 but Active During FY15-FY19 (continued) Net Net Total Net Project CMT Project Primary Sector Orig Cmt- Commitment Commitment Commitment ID FY Status Name IFC Bal (LN) (EQ) (LN+EQ) 31184 2013 Active Finance & Insurance 34,479.3 34,479.3 - 34,479.3 31394 2013 Active Finance & Insurance 24,313.0 24,313.0 - 24,313.0 Collective Investment 32663 2013 Active 20,000.0 - 20,000.0 20,000.0 Vehicles 29404 2011 Active Electric Power 75,000.0 74,614.1 - 74,614.1 30116 2011 Active Education Services 15,950.1 15,596.8 - 15,596.8 30235 2011 Active Finance & Insurance 48,304.8 - 48,304.8 48,304.8 29330 2010 Active Finance & Insurance 22,500.0 - 22,500.0 22,500.0 26529 2009 Active Electric Power 83,503.1 83,503.1 - 83,503.1 26996 2009 Active Electric Power 100,000.0 100,000.0 - 100,000.0 25389 2007 Active Electric Power 50,000.0 - 49,330.3 49,330.3 22621 2004 Active Utilities 45,000.0 30,000.0 14,962.5 44,962.5 Sub-Total 519,050.2 362,506.2 155,097.6 517,603.9 TOTAL 1,288,019.4 1,011,553.9 229,286.4 1,240,840.2 Source: IFC-MIS Extract as of 6/30/19 Net Commitment = Original CMT less Loan and Equity Cancellation CLR Review Annexes Independent Evaluation Group 42 Annex Table 11: List of IFC Advisory Services in the Philippines ($, millions) Advisory Services Approved in FY15-19 Impl Impl Primary Total Funds Project Project Name Start End Project Status Project Stage Business Managed by ID FY FY Line IFC Philippines Hydro 600862 2019 2019 OTHER TERMINATED CPC 2.20 Electric Power Plants Philippines Investment 601918 2019 2020 PIPELINE ACTIVE EFI 3.01 Competitiveness Philippines General 601931 2019 2019 PIPELINE CLOSED CPC 0.53 Hospital PPPs Clark Development 602287 2019 2021 PIPELINE HOLD CPC 0.27 Corporation - Power Quezon City Waste-to- 602338 2019 2019 OTHER TERMINATED CPC 1.72 Energy CARD Risk 603475 2019 2019 PORTFOLIO ACTIVE FIG 0.07 Management Advisory Metro Manila Urban 601515 2018 2019 OTHER TERMINATED CPC 11.97 Rail PPP Program Philippine General 602320 Hospital Cancer Facility 2018 2020 PORTFOLIO ACTIVE CPC 1.31 PPP Philippine General 602321 Hospital Multispecialty 2018 2019 OTHER TERMINATED CPC 0.20 Facility PPP Bayer BLF Alliance - 602990 2018 2020 PORTFOLIO ACTIVE MAS 0.41 SEA Regional Project 1 Manila-Quezon Bus 600643 2017 2019 OTHER TERMINATED CPC 0.39 Rapid Transit DOE Demand Aggregation and 600949 2017 2019 OTHER TERMINATED CPC 1.44 Supply Auctioning Program BCDA Clark Green City 601554 2017 2018 OTHER TERMINATED CPC 2.81 Master Development Clark Airport Expansion 601849 and Modernization 2017 2019 PORTFOLIO ACTIVE CPC 2.07 Project Philippine Greater 602016 Capital Region Airport 2017 1900 OTHER TERMINATED CPC 0.44 Phase 0 Cebu Bus Rapid 600676 2016 2019 OTHER TERMINATED CPC 0.41 Transit 601025 MRT3 2016 2017 OTHER TERMINATED CPC 0.81 601340 SEF EAP ex China 2016 2021 PORTFOLIO ACTIVE FIG 1.79 601414 BDO SEF AS 2016 2018 COMPLETED CLOSED FIG 0.12 Clark Green City 600749 2015 2020 COMPLETED ACTIVE CPC 0.30 Utilities 600941 LRT1 Dasma 2015 2017 OTHER DROPPED CPC 0.01 Sub-Total 32.28 CLR Review Annexes Independent Evaluation Group 43 Annex Table 11: List of Advisory Services Approved pre-FY15 but Active During FY15-19 (continued) Impl Impl Primary Total Funds Project Project Name Start End Project Status Business Managed by ID FY FY Line IFC 599754 EAP GA - Philippines 2014 2018 OTHER ACTIVE IFC 0.70 599787 Manila LRT2 2014 2018 COMPLETED HOLD CPC 1.67 Philippines Typhoon 599889 2014 2021 PORTFOLIO ACTIVE FIG Index Insurance 1.09 Agribusiness Finance 577567 2013 2019 PORTFOLIO ACTIVE FIG in the Philippines 4.69 Philippines Secured 586547 2013 2021 PORTFOLIO ACTIVE EFI Transactions 2.60 Philippines 587207 Agribusiness Trade 2013 2019 PORTFOLIO ACTIVE EFI 3.40 Competitiveness Green Building 595167 2013 2017 COMPLETED CLOSED EFI Regulation - Philippines 0.41 EAP Banking on 597067 2013 2019 PORTFOLIO ACTIVE FIG Women 4.58 Philippines-Davao 599158 2013 2018 COMPLETED CLOSED CPC Sasa Port 1.49 Philippines Credit 599171 2013 2018 COMPLETED CLOSED EFI Bureau 1.22 Cavite-Laguna (CALA) 599549 2013 2015 OTHER TERMINATED CPC Expressway 0.67 587767 PPP Grains 2012 2017 COMPLETED CLOSED CPC 1.45 Manila LRT PPP 593007 2012 2015 COMPLETED ACTIVE CPC Program 2.65 EAP CG Program 593267 2012 2020 PORTFOLIO ACTIVE ESG Implementation 8.53 583827 NAIA Expressway 2011 2014 COMPLETED CLOSED CPC 1.08 29292 Clark Water 2010 2015 COMPLETED CLOSED CPC 0.92 GEF Philippines 507694 Sustainable Energy 2010 2016 COMPLETED CLOSED FIG 6.31 Financing Program Doing Business Plus 553125 2007 2014 COMPLETED CLOSED TAC (Phil) 2.70 Sub-Total 46.16 TOTAL 78.4 Source: IFC AS Portal Data as of 8/8/19 CLR Review Annexes Independent Evaluation Group 44 Annex Table 12: IFC Net Commitment Activity in the Philippines, FY15 - FY19 ($ millions) 2015 2016 2017 2018 2019 Total Long-term Investment Commitment Collective Investment Vehicles - - 15.0 - 20.0 35.0 Financial Markets 74.3 121.3 (12.4) 123.5 108.3 415.1 Trade Finance - - - - - - Infrastructure (100.0) - 64.0 89.6 - 53.6 Oil, Gas & Mining - - - - - - Other Infra Sectors - - - - - - Telecom, Media, and Technology - - - - - - Agribusiness & Forestry - - - - - - Health, Education, Life Sciences 16.1 3.8 - - 40.0 59.8 Manufacturing - - - - - - Other MAS Sectors - - - - - - Tourism, Retail, Construction & - - - 12.2 0.5 12.7 Real Estates (TRP) Total IFC Long Term Investment (9.6) 125.1 66.6 225.3 168.8 576.2 Commitment Total Short-term Finance/Trade Finance / Average Outstanding - - - - - - Balance (GTFP) Source: IFC MIS Company Portfolio 62419 Note: IFC began reporting average outstanding short-term commitments (not total commitments) in FY15 and no longer aggregates short-term commitments with long-term commitments. IEG uses net commitment number for IFC's long-term investment. For trade finance guarantees under GTFP, average commitment numbers have been used. Annex Table 13: List of MIGA Projects Active in the Philippines, FY15-19 ($ millions) Max Project Project Investor Project Title Sector Gross ID Status Country Issuance No MIGA Activities in the Philippines Total - Source: MIGA with Project Brief as of 10/1/19