The World Bank Implementation Status & Results Report Strengthening Governance in Mongolia (P168248) Strengthening Governance in Mongolia (P168248) EAST ASIA AND PACIFIC | Mongolia | Governance Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2019 | Seq No: 1 | ARCHIVED on 25-Jun-2020 | ISR39991 | Implementing Agencies: Ministry of Finance of Mongolia, Mongolia Key Dates Key Project Dates Bank Approval Date: 26-Apr-2019 Effectiveness Date: 30-Apr-2019 Original Closing Date: 31-Dec-2021 Revised Closing Date: 31-Dec-2021 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to support the Government’s efforts to improve fiscal discipline, public financial management (PFM), and transparency and accountability processes for strengthened governance of public resource management in Mongolia. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO -- Satisfactory Overall Implementation Progress (IP) -- Satisfactory Implementation Status and Key Decisions Since declared effective on April 30, 2019, the Recipient-Executed part of the Strengthening Governance in Mongolia Project trust funded by the European Union has been providing technical assistance to the Ministry of Finance (MOF) and the Fiscal Council to support the government’s efforts to improve fiscal discipline, public finance management, transparency and accountability for strengthened governance in Mongolia. Key activities supported under the Project are those identified as priority actions in the government’s Public Financial Management Strategy and Action Plan (2018-2022) and those include, inter alia, monitoring and reporting on the implementation of the action plan, improving tax transparency and exchange of information for tax purposes, strengthening the economic forecasting and policy analysis capacity, modernizing production of Citizen’s Budgets, creating the BOOST platform for open budget data, and conducting preparatory work towards revamping the Glass Account Portal. In order to support the Government’s efforts to respond to the COVID-19 emergency, the European Union and the World Bank agreed to reprioritizing the use of EUR 680,000 within the Strengthening Governance in Mongolia Project, funded by the European Union to help mitigate the impact of the pandemic in the short and medium term: https://www.worldbank.org/en/news/press-release/2020/04/10/the-european-union-and-the- world-bank-support-mongolias-efforts-to-address-covid-19-coronavirus-impact. Risks Overall Risk Rating 6/25/2020 Page 1 of 5 The World Bank Implementation Status & Results Report Strengthening Governance in Mongolia (P168248) Risk Category Rating at Approval Previous Rating Current Rating Overall Moderate -- Moderate 5. Results Project Development Objective Indicators IN00785152 ►A comprehensive PFM strategy adopted and under implementation to support the achievement of fiscal discipline and strategic budget planning and execution as set forth in the FSL and the IBL. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- Yes Yes Date 31-Jan-2019 -- 31-May-2020 31-Dec-2021 To help operationalize and implement the 3-year PFM Strategy approved by the Finance Minister's Order no. 234 in September 27, 2018, with the support of the Project, the MOF revised and obtained approval for a higher order objective level Action Plan by the Ministerial Order no. 192 on August 30, 2019. Subsequently, a more detailed Action Plan at the activity level was also prepared with the Project support and was approved by the Comments: State Secretary of the MOF on September 30, 2019 (Order no. A281). Currently the PFM Strategy and Action Plans are under implementation and the MOF has integrated the detailed Action Plan into the MOF departments' and divisions' regular work programs and keep track of their progress timely in their internal monitoring and evaluation system called Leader Monitoring. IN00785153 ►Fiscal Council fully operational and producing independent fiscal reports towards increased transparency and accuracy of government macroeconomic and fiscal policy formulation. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 31-Jan-2019 -- 31-May-2020 31-Dec-2021 The selection of consultants to support operationalization and technical capacity of the Fiscal Council is Comments: currently underway and expected to be concluded soon to advance the planned work under the Project. IN00785159 ►Improved budget transparency by making available to the public key budget documents in accessible and user-friendly formats, as measured by the Open Budget Index (OBI). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 46.00 -- 56.00 61.00 Date 31-Jan-2019 -- 31-May-2020 31-Dec-2021 Mongolia's score on the 2019 OBI was increased to 56, approximately a 20-percentage point increase from the Comments: Project baseline as measured by the OBI in 2017. Intermediate Results Indicators 6/25/2020 Page 2 of 5 The World Bank Implementation Status & Results Report Strengthening Governance in Mongolia (P168248) IN00785154 ►Develop a business plan of the investment/asset management entity of the SWF called the Future Heritage Fund Corporation (FHFC). (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 31-Jan-2019 -- 31-May-2020 31-Dec-2020 Comments: IN00785151 ►Fiscal Council has developed and adopted its operational procedures. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 31-Jan-2019 -- 31-May-2020 31-Dec-2020 Comments: IN00785155 ►Improved monitoring of contingent liabilities by consolidating balance sheets of SOEs and improving the fiscal sensitivity analysis. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 31-Jan-2019 -- 31-May-2020 31-Dec-2020 Comments: IN00785156 ►Better planning of capital investments by adopting a new PIM guideline that includes the Government of Mongolia´s investment strategies fully costed (capital, recurrent operational and maintenance). (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- Yes Yes Date 31-Jan-2019 -- 31-May-2020 31-Dec-2020 Comments: IN00785157 ►A new PFM plan has been adopted by fiscal year 2020. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- Yes Yes Date 01-Mar-2019 -- 31-May-2020 31-Dec-2020 Comments: 6/25/2020 Page 3 of 5 The World Bank Implementation Status & Results Report Strengthening Governance in Mongolia (P168248) IN00785158 ►The Glass Account Portal publishes at least annual data on programs as defined by the new program classification. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 01-Mar-2019 -- 31-May-2020 31-Dec-2020 Comments: Overall Comments RE Although some of the intermediate results indicators have not yet been met, sufficient progresses have been recorded to show that the implementation is on track. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P168248 TF-B0063 Effective USD 0.81 0.81 0.00 0.46 0.35 56% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P168248 TF-B0063 Effective 26-Apr-2019 30-Apr-2019 30-Apr-2019 31-Dec-2021 31-Dec-2021 Cumulative Disbursements 6/25/2020 Page 4 of 5 The World Bank Implementation Status & Results Report Strengthening Governance in Mongolia (P168248) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 6/25/2020 Page 5 of 5