The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) MD Second Competitiveness Enhancement Project (P144103) EUROPE AND CENTRAL ASIA | Moldova | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2015 | Seq No: 12 | ARCHIVED on 26-Jun-2020 | ISR42544 | Implementing Agencies: Ministry of Finance, PIU under Ministry of Economy, Credit Line Directorate under Ministry of Finance, Ministry of Economy and Infrastructure, ODIMM, Government of Republic of Moldova Key Dates Key Project Dates Bank Approval Date: 11-Jul-2014 Effectiveness Date: 02-Oct-2014 Planned Mid Term Review Date: 17-Oct-2016 Actual Mid-Term Review Date: 17-Oct-2016 Original Closing Date: 31-Jan-2020 Revised Closing Date: 30-Jul-2021 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project's development objective is to increase the export competitiveness of Moldovan enterprises and decrease the regulatory burden they face. This PDO will be achieved through a set of measures that aim to: (i) improve the business environment through regulatory reforms that reduce the cost of doing business; (ii) help SMEs and exporters to get access to business development services;and (iii) improve access to medium and long term finance for export oriented enterprises. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Regulatory Reform:(Cost $6.24 M) SME Development:(Cost $8.04 M) Access to Finance:(Cost $30.00 M) Project Management:(Cost $0.72 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions Regulatory reform: One-Stop-Shop (OSS) for online issuance of permits and licenses has notable benefits for businesses. The number of applications through the system is increasing significantly. Since the introduction of the system, 43,233 applications from companies for the issue, amendment or suspension of permissive documents have been submitted through the OSS (35% of all applications were submitted online; and only in March-April 6/26/2020 Page 1 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) in 2020 did this figure rise to 75%, which is remarkable and shows the real benefits of the OSS online system). Cost of Doing Business did recognize improvements made by OSS. However, agencies are not utilizing the system fully. This is a critical reform for the Government to undertake, with many government agencies involved. Integration of Mpay and online banking payments should be done, as well as completion of digitizing all permits. All agencies should be obliged to use the system and not to process applications on paper. The Ministry of Economy needs to take more proactive role and ownership over Performance indicators for government authorities with a business regulatory function as this is also part of DLIs. This activity is delayed. The State Chancellery needs to establish performance indicators for inspection functions, and then to publish results of performance indicators for RIA, OSS and inspections. Maintaining inspection E-Registry is very important. The first stage of amending the RIA methodology in line with WBG recommendations was completed, the Government by the Decree nr. 23 from 18.01.2019 approved the new Methodology for Impact Assessment, which unifies RIA and ex-ante mechanisms. The Decree was published in the Official Gazette on 19.01.2019. RIA Secretariat has been moved to SC and this has resulted in notable improvement in RIA compliance (now at 75%). The second stage envisages revision of the Gov. Decree # 1429 and Laws #235 & #100 to eliminate Private Sector Working Group. Review of RIA methodology as well as capacity building is ongoing now. The Competition Council initiated review of Competition Law. Market assessment of insurance and airline sectors completed Upgrade of SIRASM platform and website of Competition council to enhance transparency is also completed. SME development: ODIMM established export promotion department as well as the M&E and Internal Audit Department. ODIMM needs to focus on export readiness programs for SMEs now. The Investment Agency is very active and progressing in meeting project goals and PDO. MGF facility is progressing well and the first impact evaluation is in the process of being performed. For every $1 invested, $8 in new export sales are generated, which is an amazing result. Access to Finance: Credit line is disbursing well. ODIMM implemented Credit Guarantee software in 8 banks Overall: Although the overall progress of the project is good, elections and Government changes as well as COVID-19 slowed progress in some areas and thus project implementation progress is moderately satisfactory. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Substantial Substantial Macroeconomic -- Moderate Moderate Sector Strategies and Policies -- Moderate Moderate Technical Design of Project or Program -- Moderate Moderate Institutional Capacity for Implementation and -- Substantial Substantial Sustainability Fiduciary -- Moderate Moderate Environment and Social -- Low Low Stakeholders -- Moderate Moderate Other -- Low Low Overall -- Moderate Moderate Results 6/26/2020 Page 2 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) PDO Indicators by Objectives / Outcomes Improve the business environment through regulatory reforms that reduce costs of doing business IN00864382 ►Reduction in management time spent meeting regulatory regulatory requirements (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 10.70 8.80 8.80 8.50 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 To be measured by Annual Cost of Doing Business survey Comments: Help SMEs and exporters to get access to business development services IN00864383 ►Percentage of matching grant recipients that are engaged in a new export oriented activity (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 44.00 44.00 50.00 Date 02-Oct-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 As of 31st of December 2019, 104 enterprises of 238 receiving MGF were engaged in a new export oriented activity. Due to COVID-19 pandemic and state of emergency, where many businesses are collapsing and exports are limited, this indicator will be notably hit negatively in the next 6 months, but the Comments: client and MGF team are urged to focus on pool of companies they have to work with them on engaging in new export activity post-COVID which will be imperative for the country Improve access to medium and long term finance for export oriented companies IN00864384 ►Acerage annual percentage increase in lending to export oriented enterprises by participating financial institutions (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 15.70 15.70 5.00 Date 02-Oct-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 13.9% data from end 2016; 33.7% data from end 2017, 11.3 in 2018 and 15.7 in 2019. Since inception, we managed to meet this indicator every year, except in 2018, where increase was not 5% over previous Comments: year. But 2017 saw notable increase as compared to baseline and 2016 (basically surpassing the entire PDO target). IN00864385 ►Share of medium and long term lending by participating financial institutions under the line of credit (>24 months) as % of total disbursements (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 79.00 79.00 60.00 6/26/2020 Page 3 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) Date 02-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 This indicator measures percentage of total disbursement and not absolute USD amounts. the indicator accurately captures the impact on medium/long-term lending without duplication with the Intermediate indicators that tracks overall disbursement in absolute terms. Comments: As of December 31, 2019 actual cumulative amount of medium and long term lending by participating financial institutions under the line of credit (>24 months) was 79%. Intermediate Results Indicators by Components SME Development IN00864387 ►Adoption and implementation of a Strategy for ODIMM that promotes organizational effectiveness and reflects segmentation of delivery assistance mechanisms and enterprise needs (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Implementation of ODIMM Strategy is Implementation of progressing well. In ODIMM Strategy is 2015, ODIMM was progressing well. In agency with MDL 51.8 2015, ODIMM was million state budget, agency with MDL 51.8 29 employees, million state budget, 29 focusing primarily on employees, focusing start-ups and micro primarily on start-ups and entrepreneurs. In micro entrepreneurs. In 2019, ODIMM has 2019, ODIMM has significantly higher significantly higher state state budget than in budget than in 2015, 54 2015, 54 employees, employees, focusing on focusing on green green economy, SMEs, ODIMM strategy is economy, SMEs, exports and value chains, implemented, exports and value incubation, and to budgeted, monitored chains, incubation, and smaller extent on and evaluated to smaller extent on startups. ODIMM budget effectively in 2018, startups. ODIMM has not been reduced 2019, 2020. ODIMM budget has not been since 2015. Export strategy is updated Value No strategy reduced since 2015. readiness department and adopted by the Export readiness and supporting SMEs appropriate department and and export oriented government authority supporting SMEs and enterprises progressing. and Government export oriented It took five years to see allocates adequate enterprises this ODIMM budget based on the progressing. It took transformation to a role updated strategy. five years to see this that will help boost ODIMM transformation economic development to a role that will help of the country. In line with boost economic ODIMM development development of the strategy, ODIMM country. In line with proposed for the ODIMM development Government to fund a strategy, ODIMM pilot program to support proposed for the SME competitiveness Government to fund a and export readiness. pilot program to New and updated support SME Strategy for 2021-2025 is competitiveness and being prepared. export readiness. New and updated Strategy 6/26/2020 Page 4 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) for 2021-2025 is being prepared. Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 ODIMM state budget increased since 2015 each year, and in 2020 remained the same as in 2019. Comments: IN00864390 ►Increased outreach of ODIMM (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 2.00 19.00 19.00 2.60 Date 31-Dec-2015 31-Dec-2019 31-Dec-2019 30-Jul-2021 Based on random sample of 400 companies out of all SMES in the country, in 2016 - 19% or respondents; 2017 - 10% of respondents, 2018 - 13% of respondents, 2019 - 19% of respondents received ODIMM Comments: services at least once and have known ODIMM very well through ODIMM outreach. This shows that ODIMM outreach is improving. IN00864393 ►Increase effectiveness of ODIMM (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 73.00 93.00 93.00 94.80 Date 31-Dec-2015 31-Dec-2019 31-Dec-2019 30-Jul-2021 in 2019, notable improvement as compared to any other year (93%). This is result of organizational and Comments: operational change of ODIMM services and their focus. IN00864395 ►Adoption and implementation of a Strategy for Investment Agency that promotes organizational effectiveness and reflects market segmentation and improved export promotion delivery assistance mechanisms (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Strategy The agency is The agency is Investment agency implementing its strategy implementing its strategy has been as it relates to export strategy as it relates to adopted by the MoEi promotion. The Agency’s export promotion. The or Government. budget was increased in Agency’s budget was Investment Agency 2020, as compared to increased in 2020, as has been given 2019. so far, agency got compared to 2019. so increased budgets for increase in budget for far, agency got 2017, 2018, 2019, every year since 2015. increase in budget for 2020, 2021. This is Investment agency is every year since 2015. important to ensure the enhancing its services Investment agency is implementation of the and improving web-portal enhancing its services institutional strategies to communicate with the and improving web- and time bound plans clients. The Agency is portal to communicate for the organization, as also enhancing its client with the clients. The well as precondition to management system, Agency is also meet the requirement and linking it with enhancing its client on adequate budgeting diplomatic network of management system, with regard to DLIs Moldova to enhance data and linking it with foreseen under this entry and collection of diplomatic network of component. valuable information on Moldova to enhance business/investment data entry and prospects. They are also collection of valuable 6/26/2020 Page 5 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) engaged in export information on promotion. New export business/investment promotion strategy is prospects. They are being considered also engaged in export promotion. New export promotion strategy is being considered Date 02-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 The Agency’s budget was increased in 2020, as compared to 2019. Since 2015, the budget has seen Comments: continuous growth. Agency is engaged in export promotion. IN00864396 ►Increase outreach of Investment agency (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.20 26.00 26.00 0.30 Date 31-Dec-2015 31-Dec-2019 31-Dec-2019 30-Jul-2021 The Government restructured MIEPO and replaced it Investment agency in 2018. Since Investment agency is basically continuing work of MIEPO, baseline is still valid. The restructuring in 2018 and constant changes in MIEPO in previous years took its toll. Agency's Comments: outreach has been continuously decreasing (from 39% in 2016, to 17% in 2018), and finally we are seeing improvement in 2019 - 26%. This shows that reform and restructuring did pay off IN00864397 ►Increase effectiveness of Investment agency (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 35.00 65.00 65.00 52.50 Date 31-Dec-2015 31-Dec-2018 31-Dec-2018 30-Jul-2021 Given the change in management and new operating model, the number of clients served was not representative for a survey in 2019. Data from previous years is 2016 - 55%, 2017 - 59% and 2018 - Comments: 65%. IN00864398 ►Percentage of event participants reporting satisfied or very satisfied with workshops, training, seminars, conferences, study tours, etc (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 90.00 90.00 80.00 Date 01-Jul-2014 31-Dec-2019 25-Jun-2020 30-Jul-2021 Comments: There has been a good progress on citizen engagement and involvement of public and businesses from July 2019-now. PIU and clients organized 9 formal events, workshops and conferences where project activities linked to Matching grants, One stop shop for permissive documents and others were discussed with public and their opinion sought. Information was disseminated and public was informed of development. OSS is digital tool that helps public to track process, applications online. Total of 219 people, businesses and representatives of civil society were present in these events. Each event had a high feedback and satisfaction rate of 90%, which is over and above end of project target of 80%. In addition, project is supporting RIA mechanism, which is mechanism for public consultations on new business regulations. RIA compliance rate (meaning percentage of regulations that went through proper RIA wetting and consultations) is now at 75% (up from 35% 2 years ago). In May, PIU and Ministry of 6/26/2020 Page 6 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) Economy and Infrastructure started public awareness campaign on OSS that will last for 6 months. This is solid progress in engaging public in project activities and seeking their feedback. Over 32 media institutions have written about the Project activities so far. IN00864399 ►Cummulative number of SMEs receiving Matching Grants (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 238.00 238.00 250.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 As of December 31st, 2019 there were 272 grant applications registered, of which 258 approved (of which 20 terminated), 12 rejected. Also, 4 are in the examination (companies that have been registered, but not Comments: yet approved). Total committed amount to beneficiaries constitutes the equivalent of USD 2,44MM, of which USD 1.2MM (50%) have been already disbursed. This indicator has been met. IN00864400 ►Cummulative number of business development services provided to SMEs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 837.00 837.00 500.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 The cumulative number of business development services under the approved BIPs, as of end 2019 was Comments: 1507, of which 837 BDSs has been delivered to MGF beneficiaries. this indicator has been met IN00864401 ►Number of MGF benefitiaries creating or improving products (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 213.00 213.00 150.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 The MGF is on track with 213 beneficiaries with need of BDSs to create and/or improve products/services. Of these, 125 beneficiaries have fully implemented work. We will report this indicator to be met once Comments: BDSs are implemented in more then 150 of beneficiaries. IN00864402 ►Number of MGF benefitiaries improving production processes (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 120.00 120.00 150.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 120 beneficiaries with need of BDSs to improve production processes. Of these, 78 beneficiaries fully Comments: implemented all work. IN00864403 ►Number of MGF benefitiaries improving business management (Number, Custom) 6/26/2020 Page 7 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 174.00 174.00 150.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 174 beneficiaries with need of BDSs to improve business management. Of these, 150 beneficiaries fully Comments: implemented this work. This indicator has been met. IN00864404 ►Percentage of MGF benefitiaries that are women-owned or have female CEO (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 45.00 45.00 0.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 Access to Finance IN00864388 ►Volume of PFI funding for exporters through Line of Credit (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 24.50 24.50 29.40 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 This indicator is on target Comments: IN00864391 ►Portfolio at risk (NPLs) under the Line of Credit (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 this indicator is on target so far Comments: IN00864394 ►Number of sub-loans disbursed from the Line of Credit (cummulative) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 141.00 141.00 83.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 This indicator is notably exceeded. Comments: Regulatory Reform 6/26/2020 Page 8 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) IN00864386 ►Cummulative number of reforms enacted according to the Action Plan to reduce regulatory barriers and remive anti-competitive elements of legislation and regulation (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 7 cumulative actions 7 cumulative actions Value 0.00 have been 6.00 have been implemented implemented Date 02-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 7 reforms have already been implemented Comments: IN00864389 ►Percentage of laws and sub-laws affecting businesses that are assessed by the RIA Secretariat before approval by Parliament (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 35.00 75.00 75.00 75.00 Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 This indicator is showing continuous progress (35% baseline; 40% in 2016; 55% in 2017, 70% in 2018 Comments: and 75% 2019). IN00864392 ►Establish and apply perfromance indicators for Government authorities with business regulatory function (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Performance indicators established for all the Recipient’s authorities with a business regulatory function that are Performance included in the action Performance indicators indicators are included plan agreed on with are included in the action in the action plan the World Bank; plan agreed on with the agreed on with the World Bank. RIA and World Bank. RIA and The performance OSS indicators OSS indicators indicators are established and established and monitored and publicly Value Don't exist published in 2019. published in 2019. reported per the action Performance based Performance based plan agreed on with indicator for inspections indicator for the World Bank; and needs to be established inspections needs to and monitored. All will be established and The targets for each have to be published in monitored. All will have performance indicator 2020. to be published in are revised and 2020. validated for 2020 and the following years, per the action plan agreed upon with the World Bank Date 30-Jun-2014 31-Dec-2019 31-Dec-2019 30-Jul-2021 Comments: Performance indicators are included in the action plan agreed on with the World Bank. The progress in achieving this indicator will be evaluated based on a combination of three separate systems established for monitoring the performance of public authorities with functions of regulation, in particular: 1) Impact assessment of government no rmative acts - Compliance rate. 2) Implementation of the automated 6/26/2020 Page 9 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) information system for managing and issuing permissi ve documents (SIAGEAP). 3) Reforming the system of state controls and inspections. Under 1 and 2 above selected monitoring indicators established and published in 2019. They also need to be published in 2020. Inspections performance based indicators being prepared. Performance-Based Conditions IN00864405 ►PBC 1 Establish and apply performance indicators for Government authorities with a business regulatory function (Text, Intermediate Outcome, 484,500.00, 33.33%) Baseline Actual (Previous) Actual (Current) December 2019 Government restructuring process resulted in some Government restructuring of the agencies involved process resulted in some in PBI measurement of the agencies involved in don't exist anymore. As a PBI measurement don't part of CEP 2 exist anymore. As a part restructuring it was of CEP 2 restructuring it agreed that this DLI will was agreed that this DLI cover RIA system, OSS will cover RIA system, for permissive OSS for permissive documents and documents and Inspection Value System does not exist Due Dec 2020 Inspection performance performance indicators, so indicators, so combining combining three sub- three sub-indicators for indicators for government government agencies agencies with business with business regulatory regulatory function. there function. there is a good is a good progress on this progress on this DLI. DLI. Inspection Inspection performance performance indicators indicators have yet to be have yet to be met. DLI to met. DLI to be met by be met by Dec 2020 Dec 2020 Date -- 30-Sep-2019 30-Sep-2019 -- IN00864406 ►PBC 2 Cumulative number of reforms enacted according to the Action Plan to reduce regulatory barriers and remove anti-competitive elements of legislation and regulation (Text, Intermediate Outcome, 484,500.00, 66.67%) Baseline Actual (Previous) Actual (Current) December 2019 Value 0.00 7.00 7.00 6.00 Date -- 17-Apr-2019 17-Apr-2019 -- IN00864407 6/26/2020 Page 10 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) ►PBC 3 Adoption and implementation of a Strategy for ODIMM that promotes organizational effectiveness and reflects segmentation of delivery assistance mechanisms and enterprise needs (Text, Intermediate Outcome, 484,500.00, 66.67%) Baseline Actual (Previous) Actual (Current) December 2019 While there is adequate budget allocated to While there is adequate ODIMM (an increase budget allocated to compared to previous ODIMM (an increase years), and ODIMM compared to previous effectiveness and years), and ODIMM outreach increased effectiveness and (albeit, outreach is on outreach increased (albeit, decreasing trend, but still outreach is on decreasing above target), ODIMM trend, but still above strategy in terms of target), ODIMM strategy in serving medium size terms of serving medium Value No Strategy companies and export size companies and due Dec 2020 readiness is slowly export readiness is slowly progressing. Over the progressing. Over the next next period we will have period we will have to to receive from receive from Government Government the update the update on the Strategy on the Strategy and and execution, and plan execution, and plan for for the future to assess the future to assess progress. This needs to progress. This needs to take place by mid next take place by mid next year to assess if DLI is year to assess if DLI is met by end 2020 met by end 2020 Date -- 30-Sep-2019 30-Sep-2019 -- IN00864408 ►PBC 4 Adoption and implementation of a Strategy for MIEPO that promotes organizational effectiveness and reflects market segmentation andimproved export promotion delivery assistance mechanisms (Text, Intermediate Outcome, 484,500.00, 66.67%) Baseline Actual (Previous) Actual (Current) December 2019 Value No Strategy The strategy is The strategy is Due dec 2020 implemented, budgeted implemented, budgeted and monitored and and monitored and evaluated effectively in evaluated effectively in 2016 and 2017. Budget 2016 and 2017. Budget allocation for Investment allocation for Investment Agency (successor of Agency (successor of MIEPO) notably MIEPO) notably increased, and new staff increased, and new staff hired. Effectiveness hired. Effectiveness increased notably, while increased notably, while outreach remained the outreach remained the same. We will have to same. We will have to receive from the receive from the Government update on Government update on IA IA strategy and strategy and execution, as execution, as well as way well as way forward to forward to assess assess progress. This progress. This need s to need s to be done by mid be done by mid next next year, so that we can year, so that we can 6/26/2020 Page 11 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) check DLI compliance by check DLI compliance by the end of 2020 the end of 2020 Date -- 29-Jun-2018 29-Jun-2018 -- Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P144103 IBRD-84000 Effective USD 30.00 30.00 0.00 27.10 0.00 100% P144103 IDA-55090 Effective USD 15.00 15.00 0.00 9.74 3.76 72% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P144103 IBRD-84000 Effective 11-Jul-2014 15-Jul-2014 02-Oct-2014 31-Jan-2020 30-Jul-2021 P144103 IDA-55090 Effective 11-Jul-2014 15-Jul-2014 02-Oct-2014 31-Jan-2020 30-Jul-2021 Cumulative Disbursements 6/26/2020 Page 12 of 13 The World Bank Implementation Status & Results Report MD Second Competitiveness Enhancement Project (P144103) PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC Restructuring History Level 2 Approved on 02-Apr-2019 Related Project(s) There are no related projects. 6/26/2020 Page 13 of 13