Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155256) Pacific Resilience Program (P155256) EAST ASIA AND PACIFIC | Vanuatu | Social, Urban, Rural and Resilience Global Practice Global Practice | IBRD/IDA | Investment Project Financing | FY 2015 | Seq No: 6 | ARCHIVED on 26-Mar-2018 | ISR31699 | Implementing Agencies: Ministry of Finance and Economic Management, Government of the Republic of Vanuatu Key Dates Key Project Dates Bank Approval Date:19-Jun-2015 Effectiveness Date:25-Sep-2015 Planned Mid Term Review Date:31-Oct-2018 Actual Mid-Term Review Date:-- Original Closing Date:30-Nov-2020 Revised Closing Date:30-Nov-2020 Project Development Objectives Project Development Objective (from Project Appraisal Document) To strengthen the financial protection of Vanuatu. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component 1: Strengthening Early Warning and Preparedness Component 2: Risk Reduction and Resilient Investments Component 3: Disaster Risk Financing:(Cost $1.50 M) Component 4: Project and Program Management Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Substantial  Moderate 3/26/2018 Page 1 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155256) Implementation Status and Key Decisions No insurance payouts have been made to date. An additional financing to cover the premium payments for next five years from national and regional IDA and RMI's own budget is being processed along with the extension to the closing date. 3/26/2018 Page 2 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155256) 3/26/2018 Page 3 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155256) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Moderate  Moderate  Moderate Macroeconomic  Moderate  Moderate  Moderate Sector Strategies and Policies  Substantial  Substantial  Moderate Technical Design of Project or Program  Low  Low  Low Institutional Capacity for Implementation and Sustainability  Substantial  Substantial  Substantial Fiduciary  Substantial  Substantial  Substantial Environment and Social  Low  Low  Low Stakeholders  Moderate  Moderate  Moderate Other  Substantial  Substantial  Moderate Overall  Substantial  Substantial  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Participating PICs have received payment within a month of the occurrence of a covered (insured) event (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 100.00 Date 19-Jun-2015 01-Oct-2017 01-Oct-2017 30-Nov-2016 3/26/2018 Page 4 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155256) Overall Comments Intermediate Results Indicators PHINDIRITBL  The premiums are lower than the simulated price for a comparable coverage purchase individually in the market. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N Y Y Y Date 19-Jun-2015 01-May-2017 01-May-2017 30-Nov-2016 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P155256 IDA-56900 Effective USD 1.50 1.50 0.00 1.50 0.05 97% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P155256 IDA-56900 Effective 19-Jun-2015 04-Sep-2015 25-Sep-2015 30-Nov-2020 30-Nov-2020 Cumulative Disbursements 3/26/2018 Page 5 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155256) Restructuring History Level 2 Approved on 05-Oct-2017 Related Project(s) P167126-VANUATU - PACIFIC RESILIENCE PROJECT UNDER PACIFIC RESILIENCE ADDITIONAL FINANCE 3/26/2018 Page 6 of 6 Public Disclosure Copy