The World Bank Armenia Mineral Sector Policy (P163060) REPORT NO.: RES37150 RESTRUCTURING PAPER ON A PROPOSED PROJECT RESTRUCTURING OF ARMENIA MINERAL SECTOR POLICY APPROVED ON AUGUST 21, 2017 TO REPUBLIC OF ARMENIA ENERGY & EXTRACTIVES EUROPE AND CENTRAL ASIA Regional Vice President: Cyril E Muller Country Director: Mercy Miyang Tembon Senior Global Practice Director: Riccardo Puliti Practice Manager/Manager: Christopher Gilbert Sheldon Task Team Leader: Kirsten Lori Hund The World Bank Armenia Mineral Sector Policy (P163060) ABBREVIATIONS AND ACRONYMS The World Bank Armenia Mineral Sector Policy (P163060) Note to Task Teams: The following sections are system generated and can only be edited online in the Portal. BASIC DATA Product Information Project ID Financing Instrument P163060 Investment Project Financing Original EA Category Current EA Category Not Required (C) Not Required (C) Approval Date Current Closing Date 21-Aug-2017 30-Apr-2020 Organizations Borrower Responsible Agency Republic of Armenia PID , Ministry of Finance Financing (in USD Million) FIN_SUMM_PUB_TBL SUMMARY Total Project Cost 0 Total Financing 0 Financing Gap 0 DETAILS -NewFin3 The World Bank Armenia Mineral Sector Policy (P163060) Project Development Objective (PDO) Original PDO To support the development of a Mineral Sector Policy for Armenia that focuses on strengthening of the contribution of the mining sector to sustainable economic growth. OPS_TABLE_PDO_CURRENTPDO Summary Status of Financing Net TF Approval Signing Effectiveness Closing Commitment Disbursed Undisbursed TF-A5519 25-Oct-2017 25-Oct-2017 06-Nov-2017 30-Apr-2020 .45 .06 .39 Policy Waiver(s) Does this restructuring trigger the need for any policy waiver(s)? No I. PROJECT STATUS AND RATIONALE FOR RESTRUCTURING The Rationale for restructuring of this grant is to replace Project implementing agency of the project. at the request of the borrower. The proposed amendment does not entail any other changes to the Project. The Recipient/Borrower remains committed to the Project. The project is on track, and the proposed amendment will not affect the project schedule. The Financial Management arrangements are satisfactory and there are no overdue audits under the project. The World Bank Armenia Mineral Sector Policy (P163060) II. DESCRIPTION OF PROPOSED CHANGES The proposed change is to replace the Foreign Financial Projects Management Center (“FFPMC”) as the Project implementing agency, under the Ministry of Finance, responsible for fiduciary functions, with the newly created Project Implementation Department (“PID”), also under the Ministry of Finance. This change was requested by the borrower. I. SUMMARY OF CHANGES Changed Not Changed Implementing Agency ✔ Institutional Arrangements ✔ Project's Development Objectives ✔ Results Framework ✔ Components and Cost ✔ Loan Closing Date(s) ✔ Cancellations Proposed ✔ Additional Financing Proposed ✔ Reallocation between Disbursement Categories ✔ Disbursements Arrangements ✔ Disbursement Estimates ✔ Change in Overall Risk Rating ✔ Safeguard Policies Triggered ✔ The World Bank Armenia Mineral Sector Policy (P163060) EA category ✔ Legal Covenants ✔ Financial Management ✔ Procurement ✔ Implementation Schedule ✔ Other Change(s) ✔ IV. DETAILED CHANGE(S) OPS_DETAILEDCHANGES_IA_TABLE IMPLEMENTING AGENCY Implementing Agency Name Type Action Government of Armenia - Ministry of Implementing Marked for Deletion Finance Agency PID , Ministry of Finance Implementing New Agency Note to Task Teams: End of system generated content, document is editable from here.