The World Bank Report No: ISR6264 Implementation Status & Results Congo, Republic of Congo - Support to Economic Diversification Project (P118561) Public Disclosure Copy Operation Name: Congo - Support to Economic Diversification Project Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 27-Dec-2011 (P118561) Country: Congo, Republic of Approval FY: 2011 Product Line: IBRD/IDA Region: AFRICA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Key Dates Board Approval Date 16-Dec-2010 Original Closing Date 28-Feb-2016 Planned Mid Term Review Date 20-Feb-2013 Last Archived ISR Date 27-Dec-2011 Effectiveness Date 13-Sep-2011 Revised Closing Date 28-Feb-2016 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to promote private sector growth and investment in the non-oil sectors in the Republic of Congo. Itwill focus in particular on SMEs and the Pointe Noire-Brazzaville growth corridor, which is the most important and immediate sourceof economic growth and diversification. Progress made towards the achievement of the Project development objectives will be measured by the following main indicators: (i) Total private investments in non oil sectors along the Pointe Noire # Brazzaville corridor generated by enterprises supported by the project; and (ii) Number of direct jobs created in non oil sectors by enterprises supportedby the project. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Public Disclosure Copy Page 1 of 5 The World Bank Report No: ISR6264 Component(s) Component Name Component Cost Support to Public Private Dialogue (PPD) and Investment Climate Reforms: TA to improve PPD, 4.30 Public Disclosure Copy improve the investment climate and st re ngthen the instit framework to support enterprises and investments Support to Enterprise Development and Investment Promotion:aimed at supporting access to non 8.40 financial and financial services. Support to the reform of the railway company: This component will assist theGovernment in 2.70 implementing a strategy to improve the ope rations and services of the railwaycompany, CFCO Support to Public Private Dialogue (PPD) and Investment Climate Reforms: TA to improve PPD, 4.30 improve the investment climate and st re ngthen the instit framework to support enterprises and investments Support to Enterprise Development and Investment Promotion:aimed at supporting access to non 8.40 financial and financial services. Support to the reform of the railway company: This component will assist theGovernment in 2.70 implementing a strategy to improve the ope rations and services of the railwaycompany, CFCO Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Implementation Status Overview The project became effective on September 13, 2011. PADE implementation has made some progress on resolving several issues identified in the early stage of implementation including coordination issues, delays in recruitments, disengagement of key line ministries, and logistical issues experienced by the PCU (office space, etc.). On the execution, the disbursement rate is 9%. It was expected to increase to 15% by June. However, delays in key recruitments kept the disbursement rate unchanged. The management team of the Matching Grant component has been recruited and is now fully operational. It is expected therefore that this component which accounts for 25% of the project total funds will start disbursing and push up the disbursement rate to around 20% by December 2012. Furthermore it is important to note the project disbursement rate of 9% does not take into account for the disbursement rate from the counterpart funds which currently stands at 14%. The average disbursement rate is therefore 11.5%. Other key international consultants Public Disclosure Copy (Investment promotion specialist, value chains specialist) have also been recruited. A Business lawyer has also been selected and is expected to sign his contract by the end of June. They will all provide the required TA in their field of expertise and help strengthen the capacity of the relevant ministries. The High Council for Public Private Dialogue is now also operational. It is focusing on improving the ranking in the Doing Business report and has prepared an action plan and is working with the WBG Doing Business unit. Locations Country First Administrative Division Location Planned Actual Congo Region du Niari Region du Niari Congo Region du Niari Dolisie Congo Not Entered Republic of the Congo Page 2 of 5 The World Bank Report No: ISR6264 Country First Administrative Division Location Planned Actual Congo Commune de Brazzaville Commune de Brazzaville Public Disclosure Copy Congo Pointe-Noire Pointe-Noire Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Total privateinvestments in non oilsectors Percentage Value 0.00 0.00 20.00 along the PointeNoire-Brazzaville Date 22-Nov-2010 20-Jun-2012 28-Feb-2016 corridorgenerated by enterprisessupported by Comments the project Number of direct jobscreated in non oil Number Value 0.00 0.00 2200.00 sectorsby project supportedenterprises by end Date 22-Nov-2010 20-Jun-2012 28-Feb-2016 ofproject. Comments Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Maison de l#Entreprise established and fully Yes/No Value No No Yes operational with adequate staffing, detailed Date 22-Nov-2010 20-Jun-2012 28-Feb-2016 action plan, and manual of procedures Comments Number of firms which receive the matching Number Value 0.00 0.00 120.00 grant (including firms owned by women) Date 22-Nov-2010 20-Jun-2012 28-Feb-2016 Comments Number of action plans prepared; being Number Value 0.00 0.00 10.00 implemented Date 22-Nov-2010 20-Jun-2012 28-Feb-2016 Public Disclosure Copy Comments Number of policy reforms proposed Number Value 0.00 100.00 Date 22-Nov-2010 28-Feb-2016 Comments Number of procedures to start a business Number Value 10.00 5.00 reduced Date 22-Nov-2010 28-Feb-2016 Comments The number of tax payments reduced Number Value 61.00 30.00 Page 3 of 5 The World Bank Report No: ISR6264 Date 22-Nov-2010 28-Feb-2016 Comments PPP agreement signed and implementation Yes/No Value No Yes Public Disclosure Copy starts Date 22-Nov-2010 28-Feb-2016 Comments Data on Financial Performance (as of 11-Jun-2012) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P118561 IDA-48460 Effective 16-Dec-2010 03-Feb-2011 13-Sep-2011 28-Feb-2016 28-Feb-2016 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P118561 IDA-48460 Effective XDR 6.40 6.40 0.00 0.59 5.81 9.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation na Page 4 of 5 The World Bank Report No: ISR6264 Restructuring History There has been no restructuring to date. Public Disclosure Copy Related Projects There are no related projects. Public Disclosure Copy Page 5 of 5