The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Rijeka Gateway II (P102365) EUROPE AND CENTRAL ASIA | Croatia | Transport Global Practice | IBRD/IDA | Investment Project Financing | FY 2009 | Seq No: 21 | ARCHIVED on 04-Dec-2018 | ISR34796 | Implementing Agencies: Port of Rijeka Authority, Ministry of Finance, Port of Rijeka Authority Key Dates Key Project Dates Bank Approval Date: 11-Dec-2008 Effectiveness Date: 14-Jul-2009 Planned Mid Term Review Date: 15-Dec-2011 Actual Mid-Term Review Date: 15-Dec-2013 Original Closing Date: 15-Dec-2014 Revised Closing Date: 31-Dec-2018 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The overall project development objective is to develop the capacity, financial performance, and quality of services in the port ofRijeka to meet growing traffic demand, through public-private partnerships, while facilitating urban renewal by enabling therelocation of port activities. Has the Project Development Objective been changed since Board Approval of the Project Objective? Yes Board Approved Revised Project Development Objective (If project is formally restructured) The overall project development objective is to develop the capacity, financial performance, and quality of services in the port of Rijeka to meet growing traffic demand, through public-private partnerships. Components Table Name Port Terminal Development:(Cost $150.70 M) Port Service Enhancement:(Cost $8.10 M) Project Implementation (including front end fee and interests):(Cost $6.20 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Unsatisfactory Overall Risk Rating High High Implementation Status and Key Decisions Construction of the Zagreb Container Terminal (ZCT) is delayed and not expected earlier than August 2019. Development of the Port Community System is underway. PRA has completed preparation of ZCT concession, expected to be launched after government approval together with the 12/4/2018 Page 1 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) D403 tender, possibly during 2018Q4. The Zagreb rail connection / Intermodal Rail yard construction contract is expected to be signed in November. 12/4/2018 Page 2 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) 12/4/2018 Page 3 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) 12/4/2018 Page 4 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) 12/4/2018 Page 5 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Moderate Moderate Macroeconomic -- Moderate Moderate Sector Strategies and Policies -- Low Low Technical Design of Project or Program -- Moderate Moderate Institutional Capacity for Implementation and Sustainability -- Moderate Moderate Fiduciary -- Low Low Environment and Social -- Moderate Moderate Stakeholders -- Low Low Other -- High High Overall -- High High Results PDO Indicators by Objectives / Outcomes Increased Capacity in the port of Rijeka IN00612352 ►Increased Rijeka port container capacity (kTEU) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 150.00 400.00 400.00 750.00 Date 31-Dec-2007 31-May-2018 31-Oct-2018 31-Dec-2018 12/4/2018 Page 6 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Improved Financial performance IN00612355 ►Improved PRA operating ratio: ratio of operating expenses to total operating revenue (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 153% 92% 92% 120% Date 31-Dec-2007 31-May-2018 31-May-2018 31-Dec-2018 IN00612356 ►Reduced subsidies for interest as percentage of operating revenues (maximum) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 46% 1% 1% 10% Date 31-Dec-2007 31-May-2018 31-May-2018 31-Dec-2018 Improved quality of services IN00612354 ►Increased container traffic (kTEU) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 145.00 243.00 243.00 300.00 Date 31-Dec-2007 31-May-2018 31-May-2018 31-Dec-2018 IN00612358 ►Increased container terminal efficiency (move per crane per hour) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 18.00 22.00 22.00 22.00 Date 31-Dec-2007 31-May-2018 31-May-2018 31-Dec-2018 Increased Private Sector Involvement IN00612360 ►Private Sector investments (USD million) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 92.00 92.00 71.00 Date 31-Dec-2007 31-May-2018 31-May-2018 31-Dec-2018 IN00612362 ►Portion of dry cargo port activities carried out by operators with a private majority ownership (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 29% 71% 71% 65% Date 31-Dec-2007 31-May-2018 31-May-2018 31-Dec-2018 12/4/2018 Page 7 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Intermediate Results Indicators by Components Port Service Enhancement IN00612359 ►Development of port environmental protection plan (2010) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value not available In place In place In place Date 31-Dec-2007 31-May-2018 31-Oct-2018 31-Dec-2018 IN00612357 ►Signed concession agreements for at least two port terminals (2011) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 2 agreements based Value 0.00 1.00 1.00 on cost recovery principles Date 31-Dec-2007 31-May-2018 31-Oct-2018 31-Dec-2018 Port Terminal Development IN00612353 ►Construction of Zagreb Terminal infrastructure completed (2014) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0% 85% 91% 100% Date 31-Dec-2007 31-May-2018 31-Oct-2018 31-Dec-2018 IN00612351 ►Port Terminal Development Component. Construction of Brajdica Container Terminal extension completed (2011) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0% 100% 100% 100% Date 31-Dec-2007 31-Dec-2015 31-Dec-2015 15-Jun-2017 IN00612361 ►Quality supervision of works (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value continuous satisfactory satisfactory satisfactory Date 31-Dec-2008 31-May-2018 31-Oct-2018 31-Dec-2018 Data on Financial Performance 12/4/2018 Page 8 of 9 The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P102365 IBRD-76380 Effective USD 122.50 122.50 0.00 94.23 3.76 96% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P102365 IBRD-76380 Effective 11-Dec-2008 17-Apr-2009 14-Jul-2009 15-Dec-2014 31-Dec-2018 Cumulative Disbursements Restructuring History Level 2 Approved on 29-Jan-2014 ,Level 2 Approved on 09-Jul-2016 ,Level 1 Approved on 31-May-2017 Related Project(s) There are no related projects. 12/4/2018 Page 9 of 9