The World Bank Report No: ISR11654 Implementation Status & Results Africa Regional Trade Facilitation Project II (P112456) Public Disclosure Copy Operation Name: Regional Trade Facilitation Project II (P112456) Project Stage: Implementation Seq.No: 5 Status: ARCHIVED Archive Date: 30-Dec-2013 Country: Africa Approval FY: 2011 Product Line: IBRD/IDA Region: AFRICA Lending Instrument: Adaptable Program Loan Implementing Agency(ies): Key Dates Board Approval Date 14-Jun-2011 Original Closing Date 30-Apr-2017 Planned Mid Term Review Date 30-May-2014 Last Archived ISR Date 29-Jun-2013 Effectiveness Date 08-Oct-2012 Revised Closing Date 30-Apr-2017 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The Program Development Objective (PDO) remains unchanged from RTFP I, and that is to facilitate private sector-led trade flows, investment and productive activities through the provision of insurance, coinsurance, reinsurance, financial instruments and related services. The key results expected include: - Increased trade in participating countries, measured by the volume ($) of trade in participating countries insured by ATI policies (disaggregated by domestic, intra-regional and international). - Increased investment in participating countries, measured by the volume ($) of investment in participating countries insured by ATI policies (disaggregated by domestic, intra-regional and international) ; and, - Increased private participation through reinsurance and co-insurance partnerships with private and public insurers, measured by the volume of reinsurance obtained. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost The project has only one component; to provide financial faciility that pools the capital contributed by 0.00 Public Disclosure Copy African Member States (AMS) through their subscription in ATI's share capital. Insurance Facility (Ghana IDA-50070) 20000000.00 Insurance Faciility (Benin - IDA- H7250) 7500000.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Moderately Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Moderately Unsatisfactory Overall Risk Rating Low Low Page 1 of 4 The World Bank Report No: ISR11654 Implementation Status Overview This ISR reports the result of the field visit conducted in May 2013 in Nairobi, Kenya. The Operation was approved by the Board on June 14, 2011. Financing Agreement for Benin was signed on November 9, 2011, --and the Financing Agreement for Ghana was Public Disclosure Copy signed on August 7, 2012. The Grant No H725-BJ for Benin became effective on October 8, 2012. Overall project progress is characterized with delays. The DO and IP ratings have been downgraded to Moderately Unsatisfactory because of the delays in effectiveness. It took 16 months for the Financing Agreement of Benin to become effective. The Ghana Financing Agreement (FA) did not become effective by the final deadline date for effectiveness which was May 3, 2013 (date which the Bank unilaterally extended from February 3, 2013). Thus, the Financing Agreement and Project Agreement for Ghana (Credit No. 5007-GH) were terminated. Locations Country First Administrative Division Location Planned Actual Africa Not Entered Nairobi Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Volume (US$ million) of investment in Number Value 0.00 40.00 80.00 participating countries insured by ATI policies Date 28-Feb-2011 05-Sep-2011 31-Dec-2013 (disaggregated by domestic, intra-regional, and Comments international). Volume (US$ million) of trade in participating Amount(USD) Value 0.00 249.80 350.00 countries insured by ATI policies Date 28-Feb-2011 05-Sep-2011 31-Dec-2013 (disaggregated by domestic, intra-regional, and Comments international) Field offices opened. Number Value 1.00 3.00 4.00 Date 14-Jun-2011 07-Mar-2013 20-Jun-2014 Public Disclosure Copy Comments Kigali and Dar Es Salam Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Volume (US$ million) of policies issued in Number Value 0.00 300.00 350.00 participating countries by ATI (disaggregated Date 14-Jun-2011 07-Mar-2013 20-Jun-2014 by country) . Comments Page 2 of 4 The World Bank Report No: ISR11654 Number of insurances policies issued in Number Value 0.00 65.00 80.00 participating countries by ATI (disaggregated Date 14-Jun-2011 07-Mar-2013 20-Jun-2014 by country). Comments Public Disclosure Copy Increased private participation through Number Value 2.70 3.00 3.50 reinsurance and co-insurance partnerships with Date 14-Jun-2011 07-Mar-2013 20-Jun-2014 private and public insurers, measured by Comments thevolume of reinsurance obtained (leverage ratio) . Increased number of private and public sector Number Value members in ATI. Date Comments Ratio of incomes (premium + investment) to Number Value costs (operations + losses). Date Comments Number of staff (underwriting and Number Value administrative) in ATI increased to meet Date demand Comments Data on Financial Performance (as of 10-Jul-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P112456 IDA-50070 Closed 14-Jun-2011 07-Aug-2012 30-Apr-2017 28-Jun-2013 P112456 IDA-H7250 Effective 14-Jun-2011 09-Nov-2011 08-Oct-2012 30-Apr-2017 30-Apr-2017 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P112456 IDA-50070 Closed XDR 12.70 0.00 12.70 0.00 0.00 0.00 Public Disclosure Copy P112456 IDA-H7250 Effective XDR 4.80 4.80 0.00 4.80 0.00 100.00 Disbursement Graph Page 3 of 4 The World Bank Report No: ISR11654 Public Disclosure Copy Key Decisions Regarding Implementation The Ghana Financing Agreement and Project Agreement were terminated given that the credit was not signed after waiting for almost two years following the approval of the operation by the Bank's Board. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4