The World Bank
   Real Estate Registration Project (P168576)




                                                                                       REPORT NO.: RES40244

                                     DOCUMENT OF THE WORLD BANK




                                         RESTRUCTURING PAPER
                                                  ON A
                                   PROPOSED PROJECT RESTRUCTURING

                                                      OF

                                  REAL ESTATE REGISTRATION PROJECT
                                      APPROVED ON JULY 22, 2019
                                                      TO

       PALESTINE LIBERATION ORGANIZATION (FOR THE BENEFIT OF THE PALESTINIAN AUTHORITY)


URBAN, RESILIENCE AND LAND

MIDDLE EAST AND NORTH AFRICA




                           Regional Vice President:    Ferid Belhaj
                                 Country Director:     Kanthan Shankar
                                 Regional Director:    Ayat Soliman
                       Practice Manager/Manager:       Jorge A. Munoz
                              Task Team Leader(s):     Anna Corsi, Rafeef Abdelrazek
           The World Bank
           Real Estate Registration Project (P168576)



I. BASIC DATA

Product Information

Project ID                                                     Financing Instrument
P168576                                                        Investment Project Financing

Original EA Category                                           Current EA Category
Partial Assessment (B)                                         Partial Assessment (B)

Approval Date                                                  Current Closing Date
22-Jul-2019                                                    30-Nov-2023




Organizations

Borrower                                                       Responsible Agency
Palestine Liberation Organization (for the benefit of the      Land and Water Settlement Commission
Palestinian Authority)                                         (LWSC),Palestine Land Authority (PLA)



Project Development Objective (PDO)
Original PDO
The project development objective is to enhance tenure security and improve real estate registration services.

Summary Status of Financing


                                                                                       Net
Ln/Cr/Tf                  Approval         Signing Effectiveness        Closing Commitment Disbursed Undisbursed

TF-B0351                22-Jul-2019 06-Nov-2019 05-Mar-2020 30-Nov-2023                  5.00           0        5.00
TF-B0358                22-Jul-2019 06-Nov-2019 05-Mar-2020 30-Nov-2023                  4.60           0        4.60
TF-B0359                22-Jul-2019 06-Nov-2019 05-Mar-2020 30-Nov-2023                  3.00           0        3.00


Policy Waiver(s)

Does this restructuring trigger the need for any policy waiver(s)?
No
        The World Bank
        Real Estate Registration Project (P168576)



I. SUMMARY OF PROJECT STATUS AND PROPOSED CHANGES

 The Real Estate Registration Project (RERP) was approved by the Board of Directors on July 22, 2019, the Grant
 Agreements were signed on November 6, 2019, and the project became effective on March 5, 2020.

 Due to an oversight, there is a disconnect between the Disbursement and Financial Information Letter (DFIL) and the
 Grant Agreement for the Trust Fund for Gaza and the West Bank (TFGWB), which only includes one category for the
 IPF component of the Grant. The proposed restructuring aims to amend the TFGWB Grant Agreement to reconcile it
 with the DFIL and include two separate categories for the IPF component of the Grant as follows: (i) one category in
 the amount of USD 500,000 for the implementation of Parts 1 (c) and (d) of the project (by the Land and Water
 Settlement Commission); and (ii) one category in the amount of USD 3,800,000 for the implementation of Parts 2 and
 3 of the project (by the Palestine Land Authority). Further, the proposed restructuring will clarify to which specific
 categories the Disbursement Conditions under Section III.B.1 of Schedule 2 apply.

 With regard to the PID-MDTF Grant Agreement, the proposed restructuring will clarify that the Disbursement
 Condition under Section 3.02 (b) of Annex 1 is applicable only to Category 2, which relates to DLIs.




II. DETAILED CHANGES




REALLOCATION BETWEEN DISBURSEMENT CATEGORIES

                Current
                                              Current             Actuals +           Proposed       Disbursement %
Ln/Cr/TF        Expenditure
                                           Allocation           Committed             Allocation       (Type Total)
                Category
                                                                                                     Current Proposed


 TF-B0351-      G NCS CS IOC
                                         4,300,000.00                  0.00          500,000.00       100.00
 001            P1c d
 Currency:      G NCS CS IOC P2
 USD                                       700,000.00                  0.00        3,800,000.00       100.00
                P3
                ELIGIBLE EXP
                                                 0.00                  0.00          700,000.00                     100
                P1A
                Total                    5,000,000.00                  0.00        5,000,000.00