Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155257) Pacific Resilience Program (P155257) EAST ASIA AND PACIFIC | Marshall Islands | Social, Urban, Rural and Resilience Global Practice Global Practice | IBRD/IDA | Investment Project Financing | FY 2015 | Seq No: 3 | ARCHIVED on 09-Dec-2016 | ISR25859 | Implementing Agencies: Ministry of Finance Key Dates Key Project Dates Bank Approval Date:19-Jun-2015 Effectiveness Date:15-Oct-2015 Planned Mid Term Review Date:15-May-2018 Actual Mid-Term Review Date:-- Original Closing Date:30-Nov-2020 Revised Closing Date:30-Nov-2020 Project Development Objectives Project Development Objective (from Project Appraisal Document) To strengthen the financial protection of the Republic of Marshall Islands. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component 1: Strengthening Early Warning and Preparedness Component 2: Risk Reduction and Resilient Investments Component 3: Disaster Risk Financing:(Cost $1.50 M) Component 4: Project and Program Management Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Substantial  Substantial 12/9/2016 Page 1 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155257) Implementation Status and Key Decisions The project is currently in the implementation phase and enables the continuation of the participation of RMI to the Pacific Catastrophe Risk Assessment and Financing Initiative for the ongoing season and provide insurance coverage against tropical cyclones and earthquake/tsunamis. 12/9/2016 Page 2 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155257) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Moderate  Moderate  Moderate Macroeconomic  Moderate  Moderate  Moderate Sector Strategies and Policies  Substantial  Substantial  Substantial Technical Design of Project or Program  Low  Low  Low Institutional Capacity for Implementation and Sustainability  Substantial  Substantial  Substantial Fiduciary  Substantial  Substantial  Substantial Environment and Social  Low  Low  Low Stakeholders  Moderate  Moderate  Moderate Other  Substantial  Substantial  Substantial Overall  Substantial  Substantial  Substantial Results Project Development Objective Indicators PHINDPDOTBL  Participating PICs have received payment within a month of the occurrence of a covered (insured) event. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 100.00 Date 19-Jun-2015 06-May-2016 11-Nov-2016 30-Nov-2016 Overall Comments Intermediate Results Indicators 12/9/2016 Page 3 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155257) PHINDIRITBL  The premiums are lower than the simulated price for a comparable coverage purchased individually in the market. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 06-Aug-2015 06-May-2016 11-Nov-2016 30-Nov-2016 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P155257 IDA-D0790 Effective XDR 1.10 1.10 0.00 0.72 0.38 65% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P155257 IDA-D0790 Effective 19-Jun-2015 24-Jul-2015 15-Oct-2015 30-Nov-2020 30-Nov-2020 Cumulative Disbursements 12/9/2016 Page 4 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Pacific Resilience Program (P155257) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/9/2016 Page 5 of 5 Public Disclosure Copy