The World Bank Report No: ISR8523 Implementation Status & Results Jordan Jordan First Programmatic DPL (P124441) Public Disclosure Copy Project Name: Jordan First Programmatic DPL (P124441) Program Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 19-Mar-2013 Country: Jordan Approval FY: 2012 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Development Policy Lending Implementing Agency(ies): Key Dates Board Approval Date 24-Jan-2012 Original Closing Date 31-Dec-2013 Planned Mid Term Review Date 02-Dec-2012 Last Archived ISR Date 13-Mar-2012 Effectiveness Date 02-Feb-2012 Revised Closing Date 31-Dec-2013 Actual Mid Term Review Date 02-Dec-2012 Program Development Objectives Program Development Objective (from Program Document) FROM PROGRAM DOCUMENT - The overall objective of the proposed operation is to help enhance Jordan's capacity and performance in thearea of governance, fiscal management, public sector efficiency and private sector-led growth. It is structured around four pillars: (i) enhancing transparency and accountability; (ii) improving the budget and debt management; (iii) improving public sector efficiency and services; and (iv) supporting private sector growth. These are key areas of reform in Jordan’s Executive Development Plan (EDP) for 2011-2013, around which the CPS is developed. Has the Program Development Objective been changed since Board Approval of the Program? Yes No Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Satisfactory Moderately Unsatisfactory Implementation Status Overview Public Disclosure Copy The Project was approved by the Board on January 24, 2011 and was made Effective on February 2, 2012. All the prior actions were implemented prior to Board approval. Progress towards achievement of the Project objective is assessed as being moderately unsatisfactory. This is mainly due to a combination of weak likelihood of achieving the Project result targets and reduced Project relevance. Of the ten result targets of the Project, one is estimated to be on track, three are unlikely to be met on time, and the remaining six are at risk (i. e., they could be achieved but require stronger reform momentum or imminent action or they will also not be met). The macroeconomic framework has also materially deteriorated since the approval of the Project. As a result, some government priorities have changed (e.g., strong focus on fiscal consolidation and improved social protection) so that the relevance of the Project is partly reduced. Results Results Indicators Page 1 of 4 The World Bank Report No: ISR8523 Indicator Name Core Unit of Measure Baseline Current End Target Strengthen transparency - Policy Area 1. Text Value 2009 Global Integrity Country 2011 GIC score: 57 of 100 2013: Global Integrity Improve Transparency and Accountability Score: 55 of 100 Country Score : 60 of 100 or Public Disclosure Copy higher Date 31-Dec-2009 20-Dec-2012 31-Mar-2014 Comments The GIC score for 2009 was The GIC score for 2011 is the The 2013 GIC score is published in 2010. There is no latest available. It was expected to be published in GIC score for 2010. published in 2012. 2014. Safeguard public resources - Policy Area 1. Text Value 2009 GIC score for Supreme 2011 GIC score: 66 out of 100 2013: GIC score of 75 of 100 Improve Transparency and Accountability Audit Institution Effectiveness in Jordan: 63 out of 100 Date 31-Dec-2009 20-Dec-2012 31-Mar-2014 Comments The GIC score for 2009 was The GIC score for 2011 is the The 2013 GIC score is published in 2010. There is no latest available. It was expected to be published in score for 2010. published in 2012. 2014. The original PEFA indicator was substituted with the current one as PEFA updates are not planned for the duration of the DPL. Increase fiscal space and reduce fiscal risks (1) Text Value 2011: governed by MoF intends to establish a Effective application of the - Policy Area 2. Improve Budget and Debt streamlined procedures PPP unit inside MoF so as to new PPP Law provisions to Management have the capacity to new PPP projects immediately ensure effective application of the new PPP law; in the meantime the PPP unit will be able to reduce fiscal risks (e.g., unsolicited projects) Date 31-Dec-2011 20-Dec-2012 31-Mar-2014 Comments PPP law has not been A fully functioning PPP unit approved by Parliament. will enable effective Public Disclosure Copy application of the new PPP law and ensure fiscal space is increased while fiscalrisks are reduced Increase fiscal space and reduce fiscal risks (2) Text Value 2011: Little use of new debt No further use of new debt 2013: Innovative debt tools (e. - Policy Area 2. Improve Budget and Debt tools. tools. g., Sukuk) that improve risk Management and exposure profile used Date 31-Dec-2011 20-Dec-2012 31-Mar-2014 Page 2 of 4 The World Bank Report No: ISR8523 Comments A first ever Eurobond (5 year duration) was issued by Jordan in December 2010 Public Disclosure Copy Reduce the high cost of the health bill - Policy Text Value 2010: JD 65.4 million (0.35 2011: JD 59.7 million (0.29 2013: -10% of baseline figure Area 3. Enhance the Efficiency of Government percent of GDP) percent of GDP) Spending and Services 2012: JD 55.4 million (0.25 percent of GDP) Date 31-Dec-2011 01-Jan-2013 31-Dec-2013 Comments Improve the efficiency of the public sector by Text Value 2011: The structure is No new organization structure 2013: Selected priority streamlining independent public institutions - inconsistent which leads to in place. institutions have been Policy Area 3. Enhance the Efficiencyof inefficiency and wek control of streamlined consistent with a Government Spending and Services public spending new organizational structure of the government Date 31-Dec-2011 20-Dec-2012 31-Dec-2013 Comments Improve SME’s access to financial services, at Text Value None None 1 Credit Bureau created lower risk and cost - Policy Area 4. Promote Date 31-Dec-2011 20-Dec-2012 31-Mar-2014 Private Sector-driven Growth Comments A Steering Committee was created to establish a credit bureau in partnership with international provider. The SC solicited RFP, completed the short-list of potential providers and is due to select the winner. Negotiation phase, company registration and licensing follow. To build CBJ’s capacity to supervise credit bureau industry and issue licenses, IFC and CBJ signed Public Disclosure Copy cooperation agreement inNovember 2012. Reduce restrictions to private investment - Text Value 2011: 30.3 percent N.A. 35 percent Policy Area 4. Promote Private Sector-driven Date 31-Dec-2011 20-Dec-2012 31-Dec-2013 Growth Comments The previous indicator Data are not yet available for (increase in the share of 2012 investment to GDP) has been replaced by the current Page 3 of 4 The World Bank Report No: ISR8523 indicator as it is more directly linked to the prior action Reduce the costs associated with effectively Text Value 2010: 63 days N.A. 2013: 20 days starting a business - Policy Area 4. Promote Public Disclosure Copy Date 20-Dec-2012 31-Dec-2013 Private Sector-driven Growth Comments Data on Financial Performance (as of 13-Feb-2012) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P124441 IBRD-81270 Effective 24-Jan-2012 30-Jan-2012 02-Feb-2012 31-Dec-2013 31-Dec-2013 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P124441 IBRD-81270 Effective USD 250.00 250.00 0.00 250.00 0.00 100.00 Tranches Tranche 1 Amount (USD) Expected Release Date Actual Release Date Status 0 Pending Released Key Decisions Regarding Implementation The project document was disclosed following Board Approval. Restructuring History Public Disclosure Copy There has been no restructuring to date. Related Operations P124441-Jordan First Programmatic DPL Page 4 of 4