The World Bank Strengthening the Effectiveness of the Social Safety Net Results-Based Financing Specific Investment Loan (P120913) REPORT NO.: RES31049 RESTRUCTURING PAPER ON A PROPOSED PROJECT RESTRUCTURING OF STRENGTHENING THE EFFECTIVENESS OF THE SOCIAL SAFETY NET RESULTS-BASED FINANCING SPECIFIC INVESTMENT LOAN APPROVED ON JUNE 9, 2011 TO GOVERNMENT OF MOLDOVA SOCIAL PROTECTION & LABOR EUROPE AND CENTRAL ASIA Regional Vice President: Cyril E Muller Country Director: Satu Kristiina J. Kahkonen Senior Global Practice Director: Michal J. Rutkowski Practice Manager/Manager: Cem Mete Task Team Leader: Yuliya Smolyar The World Bank Strengthening the Effectiveness of the Social Safety Net Results-Based Financing Specific Investment Loan (P120913) ABBREVIATIONS AND ACRONYMS DLI Disbursement-Linked Indicator EEP Eligible Expenditure Program IDA International Development Association The World Bank Strengthening the Effectiveness of the Social Safety Net Results-Based Financing Specific Investment Loan (P120913) Note to Task Teams: The following sections are system generated and can only be edited online in the Portal. BASIC DATA Product Information Project ID Financing Instrument P120913 Investment Project Financing Original EA Category Current EA Category Not Required (C) Not Required (C) Approval Date Current Closing Date 09-Jun-2011 31-Dec-2017 Organizations Borrower Responsible Agency Government of Moldova Ministry of Health, Labor, and Social Protection Project Development Objective (PDO) Original PDO The development objective of the proposed project is to improve the efficiency and equity of Moldova's safety net through a fiscally sustainable expansion and strengthening of the Ajutor Social Program. OPS_TABLE_PDO_CURRENTPDO Summary Status of Financing Net Ln/Cr/Tf Approval Signing Effectiveness Closing Commitment Disbursed Undisbursed IDA-50010 09-Jun-2011 01-Jul-2011 26-Oct-2011 31-Dec-2017 37.00 32.11 1.74 Policy Waiver(s) Does this restructuring trigger the need for any policy waiver(s)? No The World Bank Strengthening the Effectiveness of the Social Safety Net Results-Based Financing Specific Investment Loan (P120913) Note to Task Teams: End of system generated content, document is editable from here. I. PROJECT STATUS AND RATIONALE FOR RESTRUCTURING The project closes in several days with a satisfactory rating. It has disbursed against 15 of 16 Disbursement-Linked Indicators (DLIs) and achieved four- of five development indicators. The outstanding DLI under component 1 has been achieved. The DLI evidence will be submitted before the project closing date. The World Bank`s team prior review confirmed the evidence is acceptable. Upon final acceptance of the DLI achievement evidence, the portion of credit allocated to it will be disbursed by the Government in the grace period. The component 2 of the project has completed all the activities. The restructuring is proposed to cancel the SDR320 thousand component balance to enable recommitment of IDA resources for other purposes in Moldova. The project has no overdue audits and its financial management performance remains adequate. II. DESCRIPTION OF PROPOSED CHANGES The restructuring is proposed to cancel SDR320 thousands of IDA credit balance prior to the closing date to enable recommitment of IDA resources for other purposes in Moldova. Note to Task Teams: The following sections are system generated and can only be edited online in the Portal. III. SUMMARY OF CHANGES Changed Not Changed Cancellations Proposed ✔ Reallocation between Disbursement Categories ✔ Change in Disbursement Estimates ✔ Change in Implementing Agency ✔ Change in DDO Status ✔ Change in Project's Development Objectives ✔ Change in Results Framework ✔ Change in Components and Cost ✔ Change in Loan Closing Date(s) ✔ The World Bank Strengthening the Effectiveness of the Social Safety Net Results-Based Financing Specific Investment Loan (P120913) Change in Disbursements Arrangements ✔ Change in Overall Risk Rating ✔ Change in Safeguard Policies Triggered ✔ Change of EA category ✔ Change in Legal Covenants ✔ Change in Institutional Arrangements ✔ Change in Financial Management ✔ Change in Procurement ✔ Change in Implementation Schedule ✔ Other Change(s) ✔ Change in Economic and Financial Analysis ✔ Change in Technical Analysis ✔ Change in Social Analysis ✔ Change in Environmental Analysis ✔ IV. DETAILED CHANGE(S) OPS_DETAILEDCHANGES_CANCELLATIONS_TABLE CANCELLATIONS Value Reason Current Cancellation New Ln/Cr/Tf Status Currency Date of for Amount Amount Amount Cancellation Cancellation BORROWER' S REQUEST IDA-50010- Disburs XDR 22,900,000.00 320,000.00 22-Dec-2017 22,580,000.00 FOR 001 ing COUNTRY REASONS OPS_DETAILEDCHANGES_REALLOCATION _TABLE REALLOCATION BETWEEN DISBURSEMENT CATEGORIES Financing % Current Allocation Actuals + Committed Proposed Allocation (Type Total) Current Proposed The World Bank Strengthening the Effectiveness of the Social Safety Net Results-Based Financing Specific Investment Loan (P120913) IDA-50010-001 | Currency: XDR iLap Category Sequence No: 1 Current Expenditure Category: Payments under EEPs under PRT A 19,200,000.00 18,600,000.00 19,200,000.00 100.00 100.00 iLap Category Sequence No: 2 Current Expenditure Category: W, G, CS, NON-CS, TR, OP-PART B 3,700,000.00 3,058,079.76 3,380,000.00 100.00 100.00 Total 22,900,000.00 21,658,079.76 22,580,000.00 OPS_DETAILEDCHANGES_DISBURSEMENT_TABLE DISBURSEMENT ESTIMATES Change in Disbursement Estimates Yes Year Current Proposed 2011 0.00 0.00 2012 8,838,392.00 8,838,392.00 2013 8,501,890.55 8,501,890.55 2014 3,690,761.00 3,780,761.00 2015 1,794,963.57 1,544,963.57 2016 10,184,193.18 14,333,992.88 2017 3,989,799.70 2,519,799.70 2018 0.00 0.00 Note to Task Teams: End of system generated content, document is editable from here.