The World Bank Implementation Status & Results Report Strengthening South Sudan’s Financial Sector (P179278) Strengthening South Sudan’s Financial Sector (P179278) EASTERN AND SOUTHERN AFRICA | South Sudan | IBRD/IDA | Investment Project Financing (IPF) | FY 2024 | Seq No: 1 | Archived on 09-Jan-2024 | ISR00052 Implementing Agencies: Bank of South Sudan 1. OBJECTIVE 1.1 Development Objective Original Development Objective (Approved as part of Approval package on 28-Sep-2023) The objective of the project is to strengthen the institutional and supervisory capacity of the central bank and improve the efficiency of core financial sector infrastructure. Has the Development Objective been changed since Board Approval of the Project Objective? No 2. COMPONENTS Name Formulating Financial Sector Policies:(Cost 3,000,000.00) Institutional Strengthening of the Central Bank:(Cost 6,700,000.00) Supporting the Development and Modernization of Key Infrastructure for the Financial Sector:(Cost 5,300,000.00) Project Management and Coordination:(Cost 3,000,000.00) 3. OVERALL RATINGS Name Current Progress towards achievement of PDO Satisfactory Overall Implementation Progress (IP) Satisfactory Overall Risk Rating High 4. KEY ISSUES & STATUS Jan 09, 2024 Page 1 of 7 The World Bank Implementation Status & Results Report Strengthening South Sudan’s Financial Sector (P179278) 4.1 Implementation Status and Key Decisions The project was approved on September 28, 2023, and the Financing Agreement was countersigned by the Minister of Finance and Planning on December 1, 2023. Efforts are ongoing to meet the three effectiveness conditions. 5. SYSTEMATIC OPERATIONS RISK-RATING TOOL Rating at Approval Risk Category Approval Package - 28 Sep Proposed Rating 2023 Political and Governance High High Macroeconomic High High Sector Strategies and Policies Substantial Substantial Technical Design of Project or Program Moderate Moderate Institutional Capacity for Implementation and Substantial Substantial Sustainability Fiduciary High High Environment and Social Low Low Stakeholders Low Low Overall High High Jan 09, 2024 Page 2 of 7 The World Bank Implementation Status & Results Report Strengthening South Sudan’s Financial Sector (P179278) 6. RESULTS 6.1 PDO Indicators by PDO Outcomes To strengthen the institutional and supervisory capacity of the central bank and improve the efficie Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year Risk-Based Supervision (RBS) No Aug/2023 Yes Aug/2027 implemented (Yes/No) BoSS staff benefiting from direct 0 Aug/2023 75 May/2028 interventions to enhance learning and improve job performance (Percentage) Average days to complete business 9 Aug/2023 2 May/2028 processes in the Core Banking System (Number) 6.2 Intermediate Results Indicators by Components Formulating Financial Sector Policies Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year Financial sector development No Aug/2023 Yes Sep/2024 strategy and roadmap developed (Yes/No) Monitoring and data collection No Aug/2023 Yes Sep/2028 system established to collect sex- Jan 09, 2024 Page 3 of 7 The World Bank Implementation Status & Results Report Strengthening South Sudan’s Financial Sector (P179278) disaggregated financial sector data (Yes/No) Institutional Strengthening of the Central Bank Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year BoSS banking supervision officers 0 Aug/2023 48 Dec/2026 trained on risk-based supervision. (Number) Framework developed for better No Aug/2023 Yes Sep/2027 quality financial reporting by financial sector entities (Yes/No) SSIBF operational (Yes/No) No Aug/2023 Yes Aug/2025 BoSS staff trained in SSIBF 0 Aug/2023 200 Jun/2027 (Number) …of which women (Number) 0 64 Supporting the Development and Modernization of Key Infrastructure for the Financial Sector Baseline Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Month/Year BoSS employees trained on CBS9 0 Aug/2023 150 Mar/2027 (Number) Software solution for FIU acquired No Aug/2023 Yes Jun/2025 (Yes/No) Increase in the suspicious 10 Aug/2023 200 Jun/2027 transactions reports (STRs) received, analyzed, and disseminated by the FIU (Number) Project Management and Coordination Indicator Name Baseline Actual (Current) Closing Period Jan 09, 2024 Page 4 of 7 The World Bank Implementation Status & Results Report Strengthening South Sudan’s Financial Sector (P179278) Value Month/Year Value Date Value Month/Year Feedback received from a beneficiary No survey Aug/2023 Feedback addressed Jun/2027 satisfaction survey addressed and and used to improve used to improve project project interventions interventions (Text) Jan 09, 2024 Page 5 of 7 The World Bank Implementation Status & Results Report Strengthening South Sudan’s Financial Sector (P179278) 7. DATA ON FINANCIAL PERFORMANCE 7.1 Cumulative Disbursements 7.2 Disbursements (by loan) Loan/Credit/TF Status Original Revised Cancelled Disbursed Undisbursed % Disbursed Not IDA-E2390 18.00 18.00 0.00 0.00 18.07 0% Effective 7.3 Key Dates (by loan) Loan/Credit/TF Status Approval Signing Effectiveness Orig. Closing Rev. Closing Not IDA-E2390 28-Sep-2023 01-Dec-2023 27-Sep-2028 27-Sep-2028 Effective Jan 09, 2024 Page 6 of 7 The World Bank Implementation Status & Results Report Strengthening South Sudan’s Financial Sector (P179278) 8. KEY DATES Key Events Planned Actual Approval 28-Sep-2023 28-Sep-2023 Effectiveness 30-Jan-2023 Mid-Term Review No. 01 30-Sep-2025 Operation Closing/Cancellation 27-Sep-2028 9. RESTRUCTURING HISTORY There has been no restructuring to date 10. ASSOCIATED OPERATION(S) There are no associated operations Jan 09, 2024 Page 7 of 7