Document of The World Bank Report No: 69566-AFR RESTRUCTURING PAPER ON A PROPOSED PROJECT RESTRUCTURING OF WEST AFRICA AGRICULTURAL PRODUCTIVITY PROGRAM APL (WAAPP-1C) GRANT (IDA GRANT H649-GM) AND FOOD PRICE CRISIS RESPONSE CORE TRUST FUND GRANT (FPCR CORE TF099557) TO THE THE REPUBLIC OF THE GAMBIA JUNE 18, 2012 AFRICA THE GAMBIA: WEST AFRICA AGRICULTURAL PRODUCTIVITY PROGRAM APL (WAAPP-1C) GRANT (IDA GRANT H649-GM) AND FOOD PRICE CRISIS RESPONSE CORE TRUST FUND GRANT (FPCR CORE TF099557) RESTRUCTURING PAPER ABBREVIATIONS AND ACRONYMS APL Adaptive Program Lending IDA International Development Association FPCR Food Price Crisis Response Core TF Trust Fund WAAPP West Africa Agricultural Productivity Program Regional Vice President: Makhtar Diop Country Director: Elizabeth Laura Lule (Acting) Sector Manager : Martien van Nieuwkoop (Acting) Task Team Leader: Abdoulaye Toure 2 AFRICA THE GAMBIA: WEST AFRICA AGRICULTURAL PRODUCTIVITY PROGRAM APL (WAAPP-1C) GRANT (IDA GRANT H649-GM) AND FOOD PRICE CRISIS RESPONSE CORE TRUST FUND GRANT (FPCR CORE TF099557) P122065 CONTENTS Page A. SUMMARY............................................................................................................................4 B. PROJECT STATUS ..............................................................................................................4 C. PROPOSED CHANGES.......................................................................................................4 ANNEX 1: REVISION OF FINANCING PERCENTAGES ......................................................5 3 THE GAMBIA: WEST AFRICA AGRICULTURAL PRODUCTIVITY PROGRAM APL (WAAPP-1C) GRANT (IDA GRANT H649-GM) AND FOOD PRICE CRISIS RESPONSE CORE TRUST FUND GRANT (FPCR CORE TF099557) RESTRUCTURING PAPER A. SUMMARY 1. This restructuring is for a first change in closing date of the Food Price Crisis Response Core Trust Fund Grant Agreement (FPCR Core TF099557) between the Republic of The Gambia and the International Development Association (acting as administrators of the Multi-Donor Trust Fund for FPCR Core TF) and a revision of the financing percentages of the Financing Agreement and the Trust Fund Grant Agreement for the West Africa Agricultural Productivity Program (WAAPP-1C). The proposed changes consist of: (i) a change in the closing date of FPCR Core TF099557 from June 30, 2016 to May 31, 2015; and (ii) revisions of the financing percentages of IDA Grant Number H649-GM and the FPCR Core TF099557. B. PROJECT STATUS 2. The West Africa Agricultural Productivity Program (WAAPP-1C) was approved by the Board of Directors of the Bank on March 24, 2011 with a closing date of June 30, 2016. 3. The Financing Agreement (IDA Grant No. H649-GM) and the Trust Fund Grant Agreement (TF099557-GM) between the Republic of The Gambia and the Association, which is part of the WAAPP 1C Program, became effective on July 22, 2011. C. PROPOSED CHANGES Change in Closing Date 4. The change in closing date of the FPCR Trust Fund Grant Agreement (FPCR Core TF099557) is necessitated by the fact that the closing date of the main Trust Fund (TF071074) is November 30, 2015. And since the closing date for the child trust fund needs to be at least six months before donor end disbursement date of the main trust fund, this request is, therefore, for a change in closing date of the TF099557-GM from June 30, 2016 to May 31, 2015. Revision of Financing Percentages 5. As a result of the change in closing date, the FPCR Trust Fund Grant Agreement will close earlier than the IDA Grant and thus there will be need to do a revision of the financing percentages. The financing percentages as set forth in paragraph 2 of Section IV of the Financing Agreement will therefore be amended as follows: (2)(b) “Goods, consultants’ services, training, study tours, workshops and Operational Costs under Parts 3.2 and 3.3 of the Project” will be financed through the following percentages: the FPCR Trust Fund: 100% in 4 years 1, 2 and 3; 96% in year 4; and 0% in year 5; and the IDA Credit: 0% in years 1, 2 and 3; 4% in year 4 and 100% in year 5. The proposed revision of the financing percentages is shown in Annex 1. 5 ANNEX 1: REVISION OF FINANCING PERCENTAGES THE GAMBIA: WEST AFRICA AGRICULTURAL PRODUCTIVITY PROGRAM APL (WAAPP-1C) Financing Percentages for Africa – The Gambia West Africa Agricultural Productivity Program APL (WAAPP-1C), P122065 will be revised as follows: (i) IDA Grant CURRENT REVISED Amount Amount Category of Expenditure of the Financing Percentage of Financing of the Financing Percentage of Financing Allocated (USD) Allocated (USD) Year 1 Year 2 Year 3 Year 4 Year 5 Year 1 Year 2 Year 3 Year 4 Year 5 (1) Works under Parts 2.3 and 816,237.10 100% 100% 100% 100% 100% 816,237.10 100% 100% 100% 100% 100% 3.3(ii) of the Project (2) Goods, consultants’ services, training, study tours, workshops and Operational Costs (a) under Parts 1.2, 1.5 and 4(i) 492,822.40 21% 21% 21% 21% 21% 492,822.40 21% 21% 21% 21% 21% of the Project (b) under Parts 3.2 and 3.3 of the 1,540,070.00 23% 23% 23% 23% 23% 1,540,070.00 0% 0% 0% 4% 100% Project (c) under Parts 1.1, 1.3, 1.4, 2, 2,695,122.50 100% 100% 100% 100% 100% 2,695,122.50 100% 100% 100% 100% 100% and 4(ii) of the Project (3) Small Grants under Part 2.1 100% 100% 100% 100% 100% of the Project and Grants under 1,540,070.00 100% 100% 100% 100% 100% 1,540,070.00 Part 3.1 (b) of the Project Total 7,084,322.00 7,084,322.00 (ii) FPCR Trust Fund CURRENT REVISED Category of Expenditure Amount Percentage of Financing Amount Percentage of Financing of the FPCR of the FPCR Core Trust Fund Core Trust Fund Grant Allocated Year 1 Year 2 Year 3 Year 4 Year 5 Grant Allocated Year 1 Year 2 Year 3 Year 4 Year 5 (USD) (USD) (2) Goods, consultants’ services, 5,000,000.00 77% 77% 77% 77% 77% 5,000,000.00 100% 100% 100% 96% 0% training, study tours, workshops and Operational Costs under Parts 3.2 and 3.3 of the Project Total 5,000,000.00 5,000,000.00