The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Tajikistan Power Utility Financial Recovery (P168211) EUROPE AND CENTRAL ASIA | Tajikistan | Energy & Extractives Global Practice | Requesting Unit: ECCCA | Responsible Unit: IECE1 IBRD/IDA | Program-for-Results Financing | FY 2020 | Team Leader(s): Christopher Philip Trimble, Farida Mamadaslamova Seq No: 7 | ARCHIVED on 08-May-2024 | ISR60463 | Created by: Farida Mamadaslamova on 08-Apr-2024 | Modified by: Christopher Philip Trimble on 01-May-2024 Program Development Objectives PDO Table Program Development Objective (from Program Appraisal Document) The program development objectives are to improve the financial viability, increase the reliability of electricity supply, and strengthen the governance of BT. Board Approved Revised Program Development Objective (If program is formally restructured) The Program development objectives are to improve the financial viability, increase the reliability of electricity supply, and strengthen the governance of Barqi Tojik, Shabakahoi Intiqoli Barq, and Shabakahoi Taqsimoti Barq. Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Implementation Status and Key Decisions Despite good progress in the Program over the reporting period, the power sector continues to faces substantial financial performance issues. Key areas of progress include: (i) tariffs for 2024 increased by 16 percent for all customers (effective since January 2024); (ii) adequate electricity supplied by Sangtuda-1 power plant to BT; (iii) daily collection and distribution of the sector's revenue among the three entities maintained through the escrow account since its establishment in 2022; (iv) disclosure of 2022 audited financial statements and key financial, commercial and operational data for all three companies for 2022-23; (v) disbursement ratio of the parent project increased from 41% to 47% by December 2023. However, the sector continues to experience substantial financial performance issues with significant cash deficits due to below-cost recovery tariffs, continuous increase of the BT liabilities (debt and payables to IPPs), high levels of aggregate technical, commercial and collection (ATC&C) losses, high levels of taxation in the power sector including taxation of ATC&C losses, and burdensome penalties imposed on BT by the MOF due to missed debt payments. Therefore, despite significant progress achieved, the sector cash deficit as per the 2022 audited financial statements was estimated to over US$1.8 billion (approximately TJS 18.5 billion) in 2022. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P168211 IDA-D5580 Effective USD 134.00 134.00 0.00 100.27 33.15 75% P168211 IDA-E1010 Effective USD 80.00 80.00 0.00 0.00 79.38 0% Key Dates (by loan) 5/8/2024 Page 1 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P168211 IDA-D5580 Effective 25-Feb-2020 05-May-2020 01-Jul-2020 30-Aug-2026 30-Aug-2026 P168211 IDA-E1010 Effective 30-Jun-2022 22-Sep-2022 05-May-2023 31-Aug-2032 31-Aug-2032 DLI Disbursement Achievement Disbursed amount in Disbursement % for DLI ID DLI Type Description Coc DLI Amount Status Coc DLI Loan: IDAD5580-001 DLR 1.1 Cost-recovery 1.1 Regular XDR 5,480,000.00 Fully Achieved 5,480,000.00 100 % end-user tarriffs DLR 1.2 Cost-recovery 1.2 Regular XDR 2,176,000.00 Fully Achieved 2,176,000.00 100 % end-user tarriffs DLR 1.3 Cost-recovery 1.3 Regular XDR 1,450,000.00 Not Achieved 0.00 end-user tarriffs DLR 1.4 Cost-recovery 1.4 Regular XDR 725,000.00 Not Achieved 0.00 end-user tarriffs DLR 1.5 Cost-recovery 1.5 Regular XDR 725,000.00 Not Achieved 0.00 end-user tarriffs DLR 1.6 Cost-recovery 1.6 Regular XDR 725,000.00 Not Achieved 0.00 end-user tarriffs DLR 2.1 Revision of SA 2.1 Regular XDR 5,803,000.00 Fully Achieved 5,803,000.00 100 % between MOF & BT DLR 2.2 Revision of SA 2.2 Regular XDR 1,450,000.00 Fully Achieved 1,450,000.00 100 % between MOF & BT DLR 2.3 Revision of SA 2.3 Regular XDR 1,742,000.00 Fully Achieved 1,742,000.00 100 % between MOF & BT DLR 2.4 Revision of SA 2.4 Regular XDR 3,337,000.00 Fully Achieved 3,337,000.00 100 % between MOF & BT DLR 2.5 Revision of SA 2.5 Regular XDR 1,450,000.00 Fully Achieved 1,450,000.00 100 % between MOF & BT DLR 2.6 Revision of SA 2.6 Regular XDR 4,062,000.00 Fully Achieved 4,062,000.00 100 % between MOF & BT DLR 2.7 Revision of SA 2.7 Regular XDR 1,016,000.00 Fully Achieved 1,016,000.00 100 % between MOF & BT DLR 2.8 Revision of SA 2.8 Regular XDR 4,062,000.00 Fully Achieved 4,062,000.00 100 % between MOF & BT DLR 2.9 Revision of SA 2.9 Regular XDR 1,016,000.00 Fully Achieved 1,016,000.00 100 % between MOF & BT DLR 3.1 Reduction of BT's 3.1 Regular XDR 1,422,000.00 Not Achieved 0.00 Cash Deficit DLR 3.2 Reduction of BT's 3.2 Regular XDR 3,047,000.00 Not Achieved 0.00 Cash Deficit 5/8/2024 Page 2 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) DLR 3.3 Reduction of BT's 3.3 Regular XDR 2,640,000.00 Not Achieved 0.00 Cash Deficit DLR 3.4 Reduction of BT's 3.4 Regular XDR 3,047,000.00 Not Achieved 0.00 Cash Deficit DLR 3.5 Reduction of BT's 3.5 Regular XDR 6,093,000.00 Not Achieved 0.00 Cash Deficit DLR 3.6 Reduction of BT's 3.6 Regular XDR 4,062,000.00 Not Achieved 0.00 Cash Deficit DLR5.1 Electricity rcd 5.1 Regular XDR 2,176,000.00 Fully Achieved 2,176,000.00 100 % byBT fr Sangtuda1 DLR5.2 Electricity rcd 5.2 Regular XDR 2,176,000.00 Fully Achieved 2,176,000.00 100 % byBT fr Sangtuda1 DLR5.3 Electricity rcd 5.3 Regular XDR 2,176,000.00 Fully Achieved 2,176,000.00 100 % byBT fr Sangtuda1 DLR5.4 Electricity rcd 5.4 Regular XDR 2,176,000.00 Fully Achieved 2,176,000.00 100 % byBT fr Sangtuda1 DLR5.5 Electricity rcd 5.5 Regular XDR 1,450,000.00 Fully Achieved 1,450,000.00 100 % byBT fr Sangtuda1 DLR5.6 Electricity rcd 5.6 Regular XDR 725,000.00 Fully Achieved 725,000.00 100 % byBT fr Sangtuda1 DLR5.7 Electricity rcd 5.7 Regular XDR 725,000.00 Not Achieved 0.00 byBT fr Sangtuda1 DLR5.8 Electricity rcd 5.8 Regular XDR 725,000.00 Not Achieved 0.00 byBT fr Sangtuda1 DLR7.1 MEWR completes 7.1 Regular XDR 2,830,000.00 Fully Achieved 2,830,000.00 100 % update of GEP DLR7.2 MEWR 7.2 Regular XDR 3,627,000.00 Not Achieved 0.00 approvesupdated GEP DLR7.3 New gen inv 7.3 Regular XDR 2,902,000.00 Not Achieved 0.00 decisions made DLR7.4 New 7.4 Regular XDR 725,000.00 Not Achieved 0.00 gen,transmn,distrib by BT DLR7.5 New 7.5 Regular XDR 363,000.00 Not Achieved 0.00 gen,transmn,distrib by BT DLR7.6 New 7.6 Regular XDR 363,000.00 Not Achieved 0.00 gen,transmn,distrib by BT DLR8.1 Implem good 8.1 Regular XDR 2,902,000.00 Not Achieved 0.00 practice corp gov BT DLR8.2 Implem good 8.2 Regular XDR 3,627,000.00 Not Achieved 0.00 practice corp gov BT DLR8.3 Implem good 8.3 Regular XDR 2,902,000.00 Not Achieved 0.00 practice corp gov BT DLR8.4 Implem good 8.4 Regular XDR 1,450,000.00 Not Achieved 0.00 practice corp gov BT DLR8.5 Implem good 8.5 Regular XDR 725,000.00 Not Achieved 0.00 practice corp gov BT 5/8/2024 Page 3 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) DLR8.6 Implem good 8.6 Regular XDR 363,000.00 Not Achieved 0.00 practice corp gov BT DLR8.7 Implem good 8.7 Regular XDR 363,000.00 Not Achieved 0.00 practice corp gov BT DLR9.1 Improvt BT 9.1 Regular XDR 798,000.00 Fully Achieved 798,000.00 100 % operational&financial DLR9.2 BT 9.2 Regular operational&financial XDR 725,000.00 Fully Achieved 725,000.00 100 % transpar DLR9.3 Improvt BT 9.3 Regular XDR 725,000.00 Fully Achieved 725,000.00 100 % operational&financial DLR9.4 Improvt BT 9.4 Regular XDR 725,000.00 Not Achieved 0.00 operational&financial DLR9.5 Improvt BT 9.5 Regular XDR 363,000.00 Not Achieved 0.00 operational&financial DLR9.6 Improvt BT 9.6 Regular XDR 363,000.00 Not Achieved 0.00 operational&financial DLR 1.7 Cost-recovery 1.7 Regular XDR 2,500,000.00 Fully Achieved 2,500,000.00 100 % tarriffs and Unit Loan: IDAE1010-001 12 pct increase of av end 1.1 Regular XDR 1,631,000.00 Not Achieved 0.00 user el tariff by Dec 31, 23 annual adj 1.2 Regular XDR 1,557,000.00 Not Achieved 0.00 of generation, by Dec 31,24 annual adj of 1.3 Regular XDR 371,000.00 Not Achieved 0.00 generation, t by Dec 31,25 annual adj of 1.4 Regular XDR 371,000.00 Not Achieved 0.00 generation by Dec 31,26 annual adj of 1.5 Regular XDR 371,000.00 Not Achieved 0.00 generation by Dec 31,27 annual adj of 1.6 Regular XDR 148,000.00 Not Achieved 0.00 generation by Sept 30, 22 Elect Tariff 1.7 Regular XDR 148,000.00 Not Achieved 0.00 approval, Ta by Dec 31,28 annual adj of 1.8 Regular XDR 148,000.00 Not Achieved 0.00 generation by Dec 31,29 annual adj of 1.9 Regular XDR 148,000.00 Not Achieved 0.00 generation by Dec 31,30 annual adj of 1.10 Regular XDR 148,000.00 Not Achieved 0.00 generation by Dec 31,31 annual adj of 1.11 Regular XDR 148,000.00 Not Achieved 0.00 generation by Sept 30,2022 10 loans 2.6 Regular XDR 1,112,000.00 Not Achieved 0.00 to revise by Sept 30,2022 MOF and 2.8 Regular XDR 1,112,000.00 Not Achieved 0.00 BT revise 9 loan 5/8/2024 Page 4 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) by Dec 31, 22 ESCD not 3.1 Regular XDR 2,224,000.00 Not Achieved 0.00 exceed TJS14billi by Dec 31, 23 ESCD not 3.2 Regular XDR 2,224,000.00 Not Achieved 0.00 exceed TJS16billi by Dec 31, 24 ESCD not 3.3 Regular XDR 1,482,000.00 Not Achieved 0.00 exceed TJS16billi by Dec 31, 25 ESCD not 3.4 Regular XDR 741,000.00 Not Achieved 0.00 exceed TJS16billi by Dec 31, 26 ESCD not 3.5 Regular XDR 741,000.00 Not Achieved 0.00 exceed TJS16billi by Dec 31, 27 ESCD not 3.6 Regular XDR 741,000.00 Not Achieved 0.00 exceed TJS16billi by Dec 31, 28 ESCD not 3.7 Regular XDR 741,000.00 Not Achieved 0.00 exceed TJS11billi by Dec 31, 29 ESCD not 3.8 Regular XDR 741,000.00 Not Achieved 0.00 exceed TJS7billi by Dec 31, 30 ESCD not 3.9 Regular XDR 741,000.00 Not Achieved 0.00 exceed TJS2billi by Dec 31, 31 ESCD no 3.10 Regular XDR 741,000.00 Not Achieved 0.00 cash deficit by December 31,22 1800 5.5 Regular XDR 371,000.00 Not Achieved 0.00 GWH by December 31,23 1800 5.6 Regular XDR 371,000.00 Not Achieved 0.00 GWH by December 31,24 1800 5.7 Regular XDR 371,000.00 Not Achieved 0.00 GWH by December 31,25 1800 5.8 Regular XDR 371,000.00 Not Achieved 0.00 GWH by December 31,26 1800 5.9 Regular XDR 148,000.00 Not Achieved 0.00 GWH by December 31,27 1800 5.10 Regular XDR 148,000.00 Not Achieved 0.00 GWH by December 31,28 1800 5.11 Regular XDR 148,000.00 Not Achieved 0.00 GWH by December 31,29 1800 5.12 Regular XDR 148,000.00 Not Achieved 0.00 GWH by December 31,30 1800 5.13 Regular XDR 148,000.00 Not Achieved 0.00 GWH by OCt 30,22 MEWR 7.1 Regular XDR 815,000.00 Not Achieved 0.00 completes GEP by February 28,23 MEWP 7.2 Regular XDR 445,000.00 Not Achieved 0.00 approves GEP 7.3 Regular by December 31, 23 GEP XDR 222,000.00 Not Achieved 0.00 by December 31,24 BT, 7.4 Regular XDR 222,000.00 Not Achieved 0.00 SIB and STB 5/8/2024 Page 5 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) by December 31,25 BT, 7.5 Regular XDR 148,000.00 Not Achieved 0.00 SIB and STB by December 31, 26, BT 7.6 Regular XDR 148,000.00 Not Achieved 0.00 SIB and STB by December 31, 27, BT 7.7 Regular XDR 74,000.00 Not Achieved 0.00 SIB and STB by December 31, 28, BT 7.8 Regular XDR 74,000.00 Not Achieved 0.00 SIB and STB by December 31, 29, BT 7.9 Regular XDR 74,000.00 Not Achieved 0.00 SIB and STB by December 31, 23 8.4 Regular XDR 445,000.00 Not Achieved 0.00 functional sup.board by December 31, 24 8.5 Regular XDR 74,000.00 Not Achieved 0.00 functional sup.board by December 31, 25 8.6 Regular XDR 74,000.00 Not Achieved 0.00 functional sup.board by December 31, 26 8.7 Regular XDR 74,000.00 Not Achieved 0.00 functional sup.board by December 31, 27 8.8 Regular XDR 74,000.00 Not Achieved 0.00 functional sup.board by December 31, 28 8.9 Regular XDR 74,000.00 Not Achieved 0.00 functional sup.board by December 31, 29 8.10 Regular XDR 74,000.00 Not Achieved 0.00 functional sup.board by December 31, 30 8.11 Regular XDR 74,000.00 Not Achieved 0.00 functional sup.board by December 31, 22 to 9.3 Regular XDR 297,000.00 Not Achieved 0.00 publish website da by December 31, 23 to 9.4 Regular XDR 74,000.00 Not Achieved 0.00 publish website da by December 31, 24 to 9.5 Regular XDR 74,000.00 Not Achieved 0.00 publish website da by December 31, 25 to 9.6 Regular XDR 37,000.00 Not Achieved 0.00 publish website da by December 31, 26 to 9.7 Regular XDR 37,000.00 Not Achieved 0.00 publish website da by December 31, 27 to 9.8 Regular XDR 37,000.00 Not Achieved 0.00 publish website da by December 31, 28 to 9.9 Regular XDR 37,000.00 Not Achieved 0.00 publish website da by December 31, 29 to 9.10 Regular XDR 37,000.00 Not Achieved 0.00 publish website da by December 31, 30 to 9.11 Regular XDR 37,000.00 Not Achieved 0.00 publish website da by December 31, 22 BT 10.1 Regular XDR 5,189,000.00 Not Achieved 0.00 fuel oil and stock 5/8/2024 Page 6 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) by December 31, 23 BT 10.2 Regular XDR 5,189,000.00 Not Achieved 0.00 fuel oil and stock by December 31, 24 BT 10.3 Regular XDR 741,000.00 Not Achieved 0.00 fuel oil and stock by December 31, 25 BT 10.4 Regular XDR 741,000.00 Not Achieved 0.00 fuel oil and stock by December 31, 26 BT 10.5 Regular XDR 741,000.00 Not Achieved 0.00 fuel oil and stock by December 31, 27 BT 10.6 Regular XDR 371,000.00 Not Achieved 0.00 fuel oil and stock by December 31, 28 BT 10.7 Regular XDR 371,000.00 Not Achieved 0.00 fuel oil and stock by December 31, 29 BT 10.8 Regular XDR 371,000.00 Not Achieved 0.00 fuel oil and stock by December 31, 30 BT 10.9 Regular XDR 371,000.00 Not Achieved 0.00 fuel oil and stock by September 30,22 11.1 Regular XDR 6,894,000.00 Not Achieved 0.00 transparency of cash by December 31, 22 11.2 Regular XDR 6,894,000.00 Not Achieved 0.00 transparency of cash by June 30, 23 11.3 Regular XDR 1,482,000.00 Not Achieved 0.00 transparency of cash flow by December 31, 23 11.4 Regular XDR 1,482,000.00 Not Achieved 0.00 transparency of cash by June 30, 24 11.5 Regular XDR 741,000.00 Not Achieved 0.00 transparency of cash flow by December 31, 24 11.6 Regular XDR 741,000.00 Not Achieved 0.00 transparency of cash by December 31, 25 11.7 Regular XDR 297,000.00 Not Achieved 0.00 transparency of cash by December 31, 26 11.8 Regular XDR 297,000.00 Not Achieved 0.00 transparency of cash by December 31, 27 11.9 Regular XDR 297,000.00 Not Achieved 0.00 transparency of cash by December 31, 28 11.10 Regular XDR 297,000.00 Not Achieved 0.00 transparency of cash by December 31, 29 11.11 Regular XDR 297,000.00 Not Achieved 0.00 transparency of cash by December 31, 30 11.12 Regular XDR 297,000.00 Not Achieved 0.00 transparency of cash by December 31, 30 BT, 7.10 Regular XDR 74,000.00 Not Achieved 0.00 SIB and STB by December 31, 22 8.3 Regular XDR 519,000.00 Not Achieved 0.00 functional sup.board Program Action Plan 5/8/2024 Page 7 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Action Description Establishment of adequately staffed Tariff Unit under AMC Source DLI# Responsibility Timing Timing Value Status Other DLI 1 The Government Due Date 30-Sep-2022 Completed IVA report with confirmation that: (a) new legislation and other legal amendments adopted for establishment of the Completion Measurement Tariff Unit are in compliance with requirements of Tajikistan’s laws and regulations; and (b) Tariff Unit is adequately staffed Comments BT to hire and retain two internal auditors, SIB to hire and retain one internal auditor and STB to hire and retain two Action Description internal auditors Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems BT, SIB, STB Due Date 30-Aug-2022 Completed Completion Measurement BT hires the additional staff and submit to the Bank the signed contracts Comments Action Description The internal audit staff to pass the national Internal Auditor Certification Source DLI# Responsibility Timing Timing Value Status to be continued over Fiduciary Systems BT Other the program In Progress implementation phase Completion Measurement The internal audit staff receives the required certification and the evidence is submitted to the Bank Comments In progress and expected by March 2025. Revision of specified subsidiary agreements between MOF and BT to mirror the original terms reflected in Action Description international agreements between MOF and financiers. Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems DLI 2 MOF and BT Due Date 31-Dec-2022 Completed The MOF and BT to revise subsidiary agreements as recommended and share the copies of the revised agreements Completion Measurement with the Bank Comments Action Description Corporate governance of BT, SIB and STB is strengthened Source DLI# Responsibility Timing Timing Value Status 5/8/2024 Page 8 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Fiduciary Systems DLI 6 The Government Due Date 31-Dec-2022 Completed (a) Procedures for selection of SB members, appointment procedures, and respective qualification requirements are Completion Measurement developed and approved; (b) Selection of SB members is completed; and (c) SBs form specialized committees Comments Prepare a capacity building and training plan, acceptable to the Bank, for improving the BT staff capacity in longer Action Description term institutional capital budget planning, international accounting/financial reporting/auditing standards and internal control Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems BT Due Date 30-Apr-2021 Completed A fiduciary staff capacity building and training plan, with specifying concrete activities, resources and deadlines, is Completion Measurement developed, agreed with the Bank and approved by BT Comments The Public Procurement Agency would continue working on improvement of standard bidding documents taking into Action Description account the recommendations from the Bank Source DLI# Responsibility Timing Timing Value Status Continuous during the State Procurement Fiduciary Systems Other Program In Progress Agency and BT implementation Standard Biding documents with adequate General Condition of Contract are available and ready for use under the Completion Measurement Program The PPA is finalizing the consulting services for SBD, works and goods already completed. Next step is submitting to Comments Ministries and Agencies for comments by 15 May 2024. PPA will incorporate comments and submit SBDs for Government by end July 2024. Create a dedicated section in BT, SIB and STB public websites to post the information on procurement complaints Action Description handling Source DLI# Responsibility Timing Timing Value Status Created by 30-Dec- 2022 and maintained Fiduciary Systems BT, SIB and STB Other continuously during In Progress Program implementation Procurement complaints section of BT website publishing info: (i) any procurement related complaints received; (ii) Completion Measurement date, time and place of the complaint review; (iii) status of handling of the complaint; and (iv) decision of complaint review. During the governance assessment BT informed WB that they have a dedicated link on the website - this is under Comments review. Still in progress for STB and SIB. 5/8/2024 Page 9 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Outsourcing critical specialized services, such as capacity development support, IVA and audit to the market on a Action Description competitive basis Source DLI# Responsibility Timing Timing Value Status Continuous during Fiduciary Systems BT Other Program In Progress implementation Necessary advisory services procured in a timely manner to support Program implementation and achievement of its Completion Measurement results Comments A competitive procurement process has been followed for IVAs recruited to date. Develop corporate environmental policy and key guidelines and regulations for BT generation, transmission, and Action Description distribution companies to facilitate adequate environmental performance in implementing rehab, replacement, and upgrade of key assets Source DLI# Responsibility Timing Timing Value Status BT with the Environmental and Social assistance of PMU Due Date 30-Apr-2021 Completed Systems ES BT, transmission, and distribution companies adopt corporate environmental policy and key environmental Completion Measurement management guidelines and regulations for implementation of T&D rehabilitation and upgrade Comments Retain additional environmental specialists/consultants at BT for the duration of the Program. Hire and retain the Action Description environmental specialists at SIB and STB for the duration of the Program. Source DLI# Responsibility Timing Timing Value Status Environmental and Social BT, SIB and STB Due Date 30-Oct-2020 Completed Systems Adequately qualified environmental staff at BT, transmission, and distribution companies ensuring adequate Completion Measurement environmental performance of activities under the Program Comments Develop relevant educational modules and organize regular trainings on environmental management for BT, SIB and Action Description STB and for their contractors Source DLI# Responsibility Timing Timing Value Status BT, SIB and STB in Environmental and Social 30-Apr-2021 and once cooperation with Other Completed Systems per year afterwards. CEP 5/8/2024 Page 10 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Fully integrated environmental team of skilled personnel providing due environmental performance in three newly Completion Measurement formed companies Comments Annual evaluation, monitoring and reporting of progress on environmental and social issues, especially regarding the Action Description compliance of the Program activities with the environmental legislation and regulations Source DLI# Responsibility Timing Timing Value Status Environmental and Social Dec 31, 2023 and once BT, SIB and STB Other Revised Date Systems per year afterwards Annual evaluation, monitoring and reporting of progress on environmental and social issues, especially regarding the Completion Measurement compliance of the Program activities with the extant environmental legislation and regulations Comments In progress and expected to start from 2025. MOHSP or the designated government agency will carry out analysis of poverty impacts of planned annual tariff Action Description increases based on trajectory of increase to be approved through adoptation of tariff paper Source DLI# Responsibility Timing Timing Value Status Environmental and Social By 30-Nov 2022 to be MOHSP and STB Other Delayed Systems extended to Dec 2023 The results of poverty impact analysis and estimates of the fiscal cost of ensuring that there is no net increase in the Completion Measurement poverty rate due to electricity tariff increases are annually reviewed and adopted by the Government when finalizing the budget Comments Will be done once the revised electricity tariff paper is available (end 2024). TSA rolled out nationally and the refined design of TSA incorporates a mechanism to mitigate the impact of Action Description increasing electricity prices, including corresponding budget allocation Source DLI# Responsibility Timing Timing Value Status Environmental and Social MOHSP and MOF Due Date 30-Oct-2021 Completed Systems Refined design of TSA incorporates a mechanism to mitigate the impact of increasing electricity prices, including Completion Measurement corresponding budget allocation Comments Development of a lifeline tariff mechanism to mitigate the impact of increasing electricity prices on the poor and Action Description vulnerable Source DLI# Responsibility Timing Timing Value Status Technical MEWR, AMC, STB Due Date 30-Sep-2023 Revised Date 5/8/2024 Page 11 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Completion Measurement Lifeline tariff mechanism is developed Comments Will be done once the revised electricity tariff paper is available (end 2024). Action Description Implementation of a lifeline tariff mechanism for residential consumers Source DLI# Responsibility Timing Timing Value Status Environmental and Social BT, MEWR, and July 31, 2023 and Other Not Yet Due Systems AMC onwards Completion Measurement Lifeline tariff mechanism is implemented considering technical constraints Development and implementation of the lifeline tariffs requires completion of a cost-of-service study which will be Comments carried out under the Rogun TA. Therefore, as part of the program resctructuring the deadline will be extended to March 31, 2025. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance High Substantial Substantial Macroeconomic Substantial High High Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Substantial Moderate Moderate Sustainability Fiduciary High Substantial Substantial Environment and Social Substantial Substantial Substantial Stakeholders Substantial Substantial Substantial Other Substantial -- -- Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes Results Area 1: Achievement of Financial Viability of the energy sector IN01418645 ►Electricity Sector's cash deficit (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 5/8/2024 Page 12 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) approximately TJS 18.5 28 bln somoni as as per Value TJS 19.5 billion billion as per the 2022 0.00 the 2021 FS audited FS Date 30-Jun-2023 02-Oct-2023 15-Apr-2024 31-Dec-2031 The actual cash deficit for 2022 as per the 2022 audited financial statements is estaimted at 18.5 billion somoni (to be verified through an independent audit). Further reduction of cash deficit is expected due to the conversion of about TjS 8.5 billion of BT’s loan to MoF into BT's equity (as per the Government decree Comments approved on January 17, 2023) as part of the restructuring of the subsidiary agreements which should be reflected in the 2023 audited FS, due by June 30, 2024 Results Area 2: Ensuring Electricity Supply Reliability IN01418651 ►Reduction of equipment failures in electricity transmission and distribution networks of SIB and STB (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 2,417.00 2,000.00 1,900.00 1,400.00 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 Lack of funding remain a critical issue for the entities to invest in rehabilitation of the network. Transition to tariff-based approach distribution of revenues will allow a more predictable plan to ensure investment in the Comments asset rehabilitation. IN01418653 ►Adequate electricity supply received by BT from Sangtuda-1 power plant (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target about 800 GWh was supplied to BT by 2384 GWh At least 1,800 Value At least 1,800 GWh/year Sangtuda 1 HPP by May GWh/year 30, 2022 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Dec-2030 About 2,384 GWh of electricity was supplied to BT over the period of January-November 2023. Comments Results Area 3: Strengthening of BT, SIB and STB Governance and Improvement of Transparency IN01418652 ►Use of technically, economically, and financially sound principles for the receipient's investment decision-making in electricity generation, transmission and distribution (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target The BT generation expansion plan has been Value No developed and to be partially Yes approved by MEWR by June 30, 2023 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Dec-2030 Both BT generation expansion plan and SIB Transmission Master Plan have been developed and should be Comments approved by MEWR by June 30, 2024 Intermediate Results Indicators by Results Areas 5/8/2024 Page 13 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Results Area 1: Achievement of Financial Viability of the energy sector IN01418654 ►Extent to which end-user tariffs reflect the revenue requirement of BT (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 20.00 70.00 60.00 100.00 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 Given the recent tariff increase for all categories of consumers, the end-user tariffs now cover about 60% of Comments the costs of the three entities. IN01418657 ►Days of payables outstanding to Sangtuda-1 power plant (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 593.00 257.00 45.00 45.00 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 Based on the minimum payment schedule approved at the annual Inter Governmental Council b/w the Governments BT is obliged to pay Sangtuda 1 around 330 million somoni. Therefore, BT makes monthly payment of about 30 millio Comments IN01418659 ►Debt service coverage ratio (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.04 0.14 0.59 1.10 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 The actual value of the DSCR is -0.59 as per the 2022 audited financial statements for 2022, however, there might be some improvements considering that about 8.5 billion of BT loan to MoF has been restructured Comments and converted into BT's equity, which should be reflected in the 2023 audited reports (due by June 30, 2024). IN01418661 ►Timely debt service payments by BT to MoF (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target BT paid to MOF US$ Value No 16.8 million in Jan-Feb yes Yes 2023 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 BT debt to MOF reduced by 8.5 billion somoni as part of the debt restructuring ( effective from January 17, Comments 2023) and 0.5 billion as part of the offsetting of the bills for the water pumping stations in 2023 Results Area 2: Ensuring Electricity Supply Reliability IN01418655 ►Actual expenditures on repair and upgrade of electricity T&D assets compared to the plan for 2020-2031. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 5/8/2024 Page 14 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Will be reported after Value No completion of SIB and No Yes STB audit of CY 2022 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 Due to high losses and insufficient collections, SIB and STB have no enough cash to invest in Comments rehabilitation of the T&D assets. Results Area 3: Strengthening of BT, SIB and STB Governance and Improvement of Transparency IN01418656 ►Update and adoption of GEP and preparation and update of T&D network development plans (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Preparation of the The generation generation expension expansion plan is Value No plan is at final stage and expected to be Yes is expected to be approved by MEWR by finalized by June, 2022 June, 2024 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 Both the GEP and Transmission Master Plans have been developed and expected to be approved by the Comments MEWR by June 30, 2024 IN01418658 ►BT, SIB and STB have functional Supervisory Boards and the specialized committees (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target further enhancement is Value No Complete Yes required Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 The SB and sub-committees were established and are functioning for BT, SIB and STB. Going forward, Comments independent members shall be involved for the sub-committees and later on, for the SBs of each entity. IN01418660 ►BT, SIB and STB disclose key quarterly operational and financial data (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target The 2022 data for BT, SIB and STB will be Value No due by June 2024 Yes published in MEWR websites Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 The 2022 quarterly operational data and the 2022 audited FS for all three companies have been Comments disclosed in MEWR website and for 2023 the required shall be disclosed by June 30, 2024, once finalized. IN01418662 ►Percentage of citizens who believe that the Program has established effective engagement processes (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 60.00 Date 31-Dec-2018 02-Oct-2023 15-Apr-2024 31-Aug-2032 Comments The first survey would be conducted in summer 2024. 5/8/2024 Page 15 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) IN01418663 ►Increase in the share of women taking on permanent jobs at BT, SIB, and STB at technical and managerial levels (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 31-May-2022 02-Oct-2023 15-Apr-2024 31-Aug-2032 A gender action plan has been developed and will be introduced to the entities to address enhance gender Comments aspects and ensure better implementation and reporting of gender related actions. Disbursement Linked Indicators DLI_IND_TABLE ►DLI 1 DLI 1: Achievement of cost-recovery end-user tariffs (Outcome, 18,970,000.00, 29%) Baseline Actual (Previous) Actual (Current) 2029 Adjustment of the financial model is generation, the financial model is currently updated based transmission, currently updated based on which the actual distribution and end- on which the actual impact impact of the recent user tariffs as per of the recent increase in Value Tariffs below cost recovery increase in electricity new tariff electricity tariffs for all tariffs for all categories of methodology and categories of consumers consumers on cost consistent with the on cost recovery of the recovery of the sector will targets approved sector will be identified be identified under the Electricity Tariff Paper. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418665 DLI 1.1 DLR 1.1: By November 30, 2022, at least twelve (12) percent increase of average end-user electricity tariff has been adopted by the Recipient (Intermediate Outcome, 7,111,000.00, 77%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 tariffs has been increase in average by 13% for all 16% for all customers and Value Tariffs below cost recovery -- customers and 50% for 16% for TALCO TALCO Date -- 02-Oct-2023 15-Apr-2024 -- Tariffs has been increased in average by 16% for all customers and 16% for TALCO which became effective on January 2024 Comments IN01418666 DLI 1.2 DLR 1.2: By December 31, 2023, at least annual adjustment of generation, transmission, distribution, and end-user tariffs as per the new tariff methodology and consistent with the targets approved und (Intermediate Outcome, 3,733,000.00, 0%) Unit of Measure: Text 5/8/2024 Page 16 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 This DLR is due by Dec tariff increased as per the Value Tariffs below cost recovery -- 31, 2023 ETP by 16% for 2024 Date -- 02-Oct-2023 15-Apr-2024 -- Based on the Government Decree # 546 on tariff for electricity and heating (dated November 29, 2023) electricity tariffs in fact increased in average by 16% for all categories of consumers, including TALKO. Comments IN01418667 DLI 1.3 DLR 1.3: By December 31, 2024, at least annual adjustment of generation, transmission, distribution, and end-user tariffs as per the new tariff methodology and consistent with the targets approved (Intermediate Outcome, 1,821,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value Tariffs below cost recovery due by Dec 31, 2024 due by Dec 31, 2024 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418668 DLI 1.4 DLR 1.4: At least annual adjustment of generation, transmission, distribution and end-user tariffs as per new tariff methodology and consistent with targets approved under Electricity Tariff Paper (Intermediate Outcome, 1,096,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value Tariffs below cost recovery Due by Dec 2025 Due by Dec 2025 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418669 DLI 1.5 DLR 1.5: At least annual adjustment of generation, transmission, distribution and end-user tariffs as per new tariff methodology and consistent with targets approved under Electricity Tariff P (Intermediate Outcome, 1,096,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value Tariffs below cost recovery Due by Dec 2026 Due by Dec 2026 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418670 5/8/2024 Page 17 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) DLI 1.6 DLR 1.6: At least annual adjustment of generation, transmission, distribution and end-user tariffs as per new tariff methodology and consistent with targets approved under Electricity Tariff Paper (Intermediate Outcome, 873,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value Tariffs below cost recovery. Due by Dec 2027 Due by Dec 2027 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418671 DLI 1.7 DLR 1.7: (a) approval by the Recipient’s government of the Electricity Tariff Paper satisfactory to the Association, with estimated full cost-recovery tariff and tariff adjustment (Intermediate Outcome, 2,648,000.00, 94%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 to be comnpleted by Value Tariffs below cost recovery Completed -- December 31, 2022 Date -- 02-Oct-2023 15-Apr-2024 -- The ETP has been prepared and signed by the Ministry of Energy and Water Resources (MEWR) and Anti- Monopoly Service (AMS) on December 30, 2022.The staffing of the Tariff Unit under the AMS has been also Comments successfully completed. IN01418672 DLI 1.8 DLR 1.8: By December 31, 2028, at least annual adjustment of generation, transmission, distribution, and end-user tariffs as per the new tariff methodology and consistent with the targets approved und (Intermediate Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value Tariffs below cost recovery due by 2028 due by 2028 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418673 DLI 1.9 DLR 1.9: By December 31, 2029, at least annual adjustment of generation, transmission, distribution, and end-user tariffs as per the new tariff methodology and (Intermediate Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value Tariffs below cost recovery due by 2029 due by 2029 Adjustment of generation, transmission, distribution and end- 5/8/2024 Page 18 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) user tariffs as per new tariff methodology and consistent with the targets approved under the Electricity Tariff Paper. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418674 DLI 1.10 DLR 1.10: By December 31, 2030, at least annual adjustment of generation, transmission, distribution, and end-user tariffs as per tariff methodology and consistent with the targets approved under ETP (Intermediate Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Adjustment of generation, transmission, distribution and end- user tariffs as per Value Tariffs below cost recovery due by 2030 due by 2030 new tariff methodology and consistent with the targets approved under the Electricity Tariff Paper. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418675 DLI 1.11 DLR 1.11: By December 31, 2031, at least annual adjustment of generation, transmission, distribution, and end-user tariffs as per the new tariff methodology and consistent with the targets approved un (Intermediate Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Adjustment of generation, transmission, distribution and end- user tariffs as per Value Tariffs below cost recovery due by 2031 due by 2031 new tariff methodology and consistent with the targets approved under the Electricity Tariff Paper. Date -- 02-Oct-2023 15-Apr-2024 -- Comments 5/8/2024 Page 19 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) ►DLI 2 DLI 2: Revision of the Subsidiary Agreements (SA) between the MOF and BT (Output, 26,162,000.00, 92%) Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt BT incurs excessive debt BT incurs excessive debt Value service costs under loans service costs under loans service costs under loans -- received from MOF recieved from MoF recieved from MoF Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418677 DLI 2.1 DLR 2.1: The Recipient converts into equity ownership of BT the outstanding principal amounts and interest payable by BT to MOF for at least ten loans under Group 1 SAs (Output, 5,803,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt Value service costs under loans Completed Completed -- received from MOF Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418678 DLI 2.2 DLR 2.2: The terms of any new financing received by BT from the MOF are aligned with the terms in the respective legal agreements between the Recipient and the financiers (Output, 1,450,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt Value service costs under loans Completed Completed -- received from MOF Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418679 DLI 2.3 DLR 2.3: The Recipient converts into equity ownership of BT the outstanding principal amounts and interest payable by BT to MOF under additional four loans under Group 1 SAs (Output, 1,742,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt Value service costs under loans Completed Completed -- received from MOF Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418680 5/8/2024 Page 20 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) DLI 2.4 DLR 2.4: BT SB adopts formal decision to prohibit BT from receiving new financing from MOF unless terms of such financing are aligned with terms reflected in legal docs between Recipient and financier (Output, 3,337,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt Value service costs under loans Completed Completed -- received from MOF Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418681 DLI 2.5 DLR 2.5: The terms of any new financing received by BT from the MOF are aligned with the terms in the respective legal documents between the Recipient and the financiers (Output, 1,450,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt service costs under loans Value received from MOF Completed Completed -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418682 DLI 2.6 DLR 2.6: (a) MOF and BT revise terms of ten loans under Group 2 SAs; (b) Recipient converts into equity the difference between original and revised interest payable under each of ten loans (Output, 5,174,000.00, 79%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Revision of Group 2 SA BT incurs excessive debt is completed DLR Value service costs under loans Completed -- achievement letter sent received from MOF to client. Date -- 02-Oct-2023 15-Apr-2024 -- Revision of Group 2 SA is completed DLR achievement letter sent to client. Comments IN01418683 DLI 2.7 DLR 2.7: DLR 2.7: The terms of any new financing received by BT from the MOF are aligned with the terms in the respective legal documents between the Recipient and the financiers (re (Output, 1,016,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 5/8/2024 Page 21 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) BT incurs excessive debt Value service cost under loans Completed Completed -- received from MoF Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418684 DLI 2.8 DLR 2.8: (a) the MOF and BT revise the terms of nine (9) additional loans under Group 2 Subsidiary Agreements to align those with the terms in respective legal documents between the Recipient and the (Output, 5,174,000.00, 79%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt Value service costs under loans Completed Completed -- received from MOF Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418685 DLI 2.9 DLR 2.9: By December 31, 2021, the terms of any new financing received by BT from the MOF are aligned with the terms in the respective legal documents between the Recipient and the financiers (increas (Output, 1,016,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT incurs excessive debt Value service costs under loan Completed Completed -- received from MoF Date -- 02-Oct-2023 15-Apr-2024 -- Comments ►DLI 3 DLI 3: Reduction of BT's cash deficit (Outcome, 31,428,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2029 To be confirmed based on expected to be reduced 18.5 billion somoni as per to be reduced to 7 Value the audit of 2019 financial to 14 billion by end of the 2022 FS billion statements 2022 Date -- 02-Oct-2023 15-Apr-2024 -- The cumulative cash deficit incurred in the electricity sector amounted to over US$1.8 billion in 2022 . Thus the DLR 3.1, which targeted a sector-wide cash deficit below TJS 14 billion in 2022, was thus not fully achieved. Further reform efforts, consisting in a combination of improved governance and cost management, tariff Comments increases in excess of inflation, and restructuring of BT’s substantial liabilities, are required. IN01418687 DLI 3.1 DLR 3.1: By December 31, 2022, the Electricity Sector’s Cash Deficit does not exceed TJS 14 billion (revised and increased allocation) (Intermediate Outcome, 3,646,000.00, 0%) Unit of Measure: Text 5/8/2024 Page 22 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 cash deficit is expected to be reduced to 14 18.5 billion somoni as per Value TJS 19.5 billion -- billion somoni as of Dec the audited FS for 2022 31, 2022 Date -- 02-Oct-2023 15-Apr-2024 -- cash deficit amounted to 18.5 billion somoni as per the audited FS for 2022, but expected to be reduced further considering that 8.5 billion of BT's debt to MoF has been restructured and converted to BT equity (effective on Comments January 17, 2023) and to be reflected in the 2023 audited FS, due by June 30, 2026 IN01418688 DLI 3.2 DLR 3.2: By December 31, 2023, the Electricity Sector’s Cash Deficit does not exceed TJS 16 billion (revised and increased allocation) (Intermediate Outcome, 5,271,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 to be confirmed by the Value TJS 19.5 billion due by dec 2023 2023 audited FS, due by -- June 30 2024 Date -- 02-Oct-2023 15-Apr-2024 -- to be confirmed by the 2023 audited FS, due by June 30 2024 Comments IN01418689 DLI 3.3 DLR 3.3: DLR 3.3: By December 31, 2024, the Electricity Sector’s Cash Deficit does not exceed TJS 16 billion (revised and increased allocation) (Intermediate Outcome, 4,122,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value TJS 19.5 billion due by 2024 due by 2024 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418690 DLI 3.4 DLR 3.4: By December 31, 2025, the Electricity Sector’s Cash Deficit does not exceed TJS 16 billion (revised and increased allocation) (Intermediate Outcome, 3,788,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value TJS 19.5 billion Due by June 2026 Due by June 2026 -- Date -- 02-Oct-2023 15-Apr-2024 -- 5/8/2024 Page 23 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Comments IN01418691 DLI 3.5 DLR 3.5:By December 31, 2026, the Electricity Sector’s Cash Deficit does not exceed TJS 15 billion (revised and increased allocation) (Intermediate Outcome, 6,834,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value TjS 19.5 billion Due by June 2027 Due by June 2027 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418692 DLI 3.6 DLR 3.6: By December 31, 2027, the Electricity Sector’s Cash Deficit does not exceed TJS 13 billion (revised and increased allocation) (Intermediate Outcome, 4,803,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value TJS 19.5 billion due by June 2028 due by June 2028 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418693 DLI 3.7 DLR 3.7: By December 31, 2028, the Electricity Sector’s Cash Deficit does not exceed TJS 11 billion (new) (Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value TJS 19.5 billion due by June 2029 due by June 2029 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418694 DLI 3.8 DLR 3.8: By December 31, 2029, the Electricity Sector’s Cash Deficit does not exceed TJS 7 billion (new) (Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 to be reduced to 7 Value TJS 19.5 billion due by June 2030 due by June 2030 billion 5/8/2024 Page 24 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418695 DLI 3.9 DLR 3.9: By December 31, 2030, the Electricity Sector’s Cash Deficit does not exceed TJS 2 billion (new) (Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 to be reduced to 2 Value TjS 19.5 billion due by June 2031 due by June 2031 billion Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418696 DLI 3.10 DLR 3.10: By December 31, 2031, the Electricity Sector does not have a Cash Deficit (new) (Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value TjS 19.5 billion Due by June 2032 Due by June 2032 no cash deficit Date -- 02-Oct-2023 15-Apr-2024 -- Comments ►DLI 4 DLI 5: Adequate electricity supply is received by BT from Sangtuda-1 power plant (Outcome, 14,553,000.00, 70%) Baseline Actual (Previous) Actual (Current) 2029 Over 2,006 GWh was Over 2,006 GWh was Average of 1,895 supplied to BT by supplied to BT by At least 1,800 GWh Value GWh/year in 2013-2017 Sangtuda 1 HPP from Sangtuda 1 HPP from Jan is received by BT. Jan 1 to Dec 31, 2022 1 to Dec 31, 2022 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418698 DLI 4.1 DLR 5.1: At least 1,000 GWh is received by BT (Outcome, 2,176,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value Average of 1,895 Achieved Achieved -- GWh/year in 2013-2017. The DLR target is expected 5/8/2024 Page 25 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) to be met by the original deadline of June 30, 2020 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418699 DLI 4.2 DLR 5.2: At least 800 GWh is received by BT (Outcome, 2,176,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Average of 1,895 Value Achieved Achieved -- GWh/year in 2013-2017 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418700 DLI 4.3 DLR 5.3: At least 1,000 GWh is received by BT (Outcome, 2,176,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Average of 1,895 Value Achieved Achieved -- GWh/year in 2013-2017 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418701 DLI 4.4 DLR 5.4: At least 800 GWh is received by BT (Outcome, 2,176,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Average of 1,895 Value Achieved Achieved -- GWh/year in 2013-2017 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418702 DLI 4.5 DLR 5.5: At least 1,800 GWh is received by BT (Outcome, 1,821,000.00, 80%) Unit of Measure: Text Indicator Type: 5/8/2024 Page 26 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Baseline Actual (Previous) Actual (Current) 2029 Over 2,006 GWh was Over 2,006 GWh was Average of 1,895 supplied to BT by supplied to BT by Value -- GWh/year in 2013-2017 Sangtuda 1 HPP from Sangtuda 1 HPP from Jan Jan 1 to Dec 31, 2022 1 to Dec 31, 2022 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418703 DLI 4.6 DLR 5.6: At least 1,800 GWh is received by BT (Outcome, 1,096,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Average of 1,895 Value Due by Dec 2023 2,384GWh -- GWh/year in 2013-2017 Date -- 02-Oct-2023 15-Apr-2024 -- about 2,384 GWh of electricity was supplied by Sangtuda HPP to BT over the period of January-November 2023. Comments IN01418704 DLI 4.7 DLR 5.7: At least 1,800 GWh is received by BT (Outcome, 1,096,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Average of 1,895 Value Too early to measure Too early to measure -- GWh/year in 2013-2017 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418705 DLI 4.8 DLR 5.8: At least 1,800 GWh is received by BT (Outcome, 1,096,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Average of 1,895 Value Too early to measure Too early to measure -- GWh/year in 2013-2017 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418706 5/8/2024 Page 27 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) DLI 4.9 DLR 5.9: By December 31, 2026, at least 1,800 GWh is received by BT or the new Designated Off-taker (new) (Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value 1800 GWh 0.00 0.00 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418707 DLI 4.10 DLR 5.10: By December 31, 2027, at least 1,800 GWh is received by BT or the new Designated Off-taker (new) (Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value 1800 GWh 0.00 0.00 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418708 DLI 4.11 DLR 5.11: By December 31, 2028, at least 1,800 GWh is received by BT or the new Designated Off-taker (new) (Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value 1800 GWh 0.00 0.00 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418709 DLI 4.12 DLR 5.12: By December 31, 2029, at least 1,800 GWh is received by BT or the new Designated Off-taker (new) (Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 At least 1,800 GWh Value 1800GWh 0.00 0.00 is received by BT Date -- 02-Oct-2023 15-Apr-2024 -- Comments 5/8/2024 Page 28 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) IN01418710 DLI 4.13 DLR 5.13: By December 31, 2030, at least 1,800 GWh is received by BT or the new Designated Off-taker (new) (Outcome, 148,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 At least 1,800 GWh Value 1800 GWh 0.00 0.00 is received by BT Date -- 02-Oct-2023 15-Apr-2024 -- Comments ►DLI 5 DLI 7: Use of technically, economically, and financially sound principles for the Recipient’s investment decision-making in electricity generation, transmission, and distribution (Output, 13,106,000.00, 22%) Baseline Actual (Previous) Actual (Current) 2029 Generation as well The GEP is at final stage as T&D investments of development and shall to be approved by June and investment Value No be approved by June 30, 30, 2024 decisions are made 2023 consistent with adopted plans. Date -- 02-Oct-2023 15-Apr-2024 -- The GEP is at final stage of development and shall be approved by June 30, 2024 Comments IN01418712 DLI 5.1 DLR 7.1: MEWR completes the update of GEP (revised deadline and increased allocation) (Output, 3,645,000.00, 78%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 The GEP has been The GEP has been Value No -- drafted. drafted. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418713 DLI 5.2 DLR 7.2: MEWR approves the updated GEP (revised deadline and increase allocation) (Output, 4,072,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 MEWR shall approves MEWR shall approve the Value No the updated GEP no later updated GEP no later than -- than February 28, 2023, June 30, 2024 Date -- 02-Oct-2023 15-Apr-2024 -- 5/8/2024 Page 29 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Comments IN01418714 DLI 5.3 DLR 7.3: New generation investment decisions are made by the Recipient in accordance with the updated GEP; T&D network development plans, based on GEP, are prepared by BT and approved by MEWR (Intermediate Outcome, 3,124,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2023 Due by June 2024 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418715 DLI 5.4 DLR 7.4: New generation as well as T&D projects initiated by BT or the Recipient’s government are consistent with the approved plans (Intermediate Outcome, 947,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2024 Due by Dec 2024 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418716 DLI 5.5 DLR 7.5: New generation as well as T&D projects initiated by BT or the Recipient’s government are consistent with the approved plans (Outcome, 511,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2025 Due by Dec 2025 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418717 DLI 5.6 DLR 7.6: New generation as well as T&D projects initiated by BT or the Recipient’s government are consistent with the approved plans (Outcome, 511,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Too early to measure Too early to measure -- 5/8/2024 Page 30 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418718 DLI 5.7 DLR 7.7: By December 31, 2027, new generation, transmission, and distribution projects initiated by BT, SIB, STB respectively or the Recipient’s government are consistent with the approved plans (new) (Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No 0.00 0.00 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418719 DLI 5.8 DLR 7.8: By December 31, 2028, new generation as well as transmission and distribution projects initiated by BT, SIB, and STB respectively or the Recipient’s government are consistent with the adopted (Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2028 Due by Dec 2028 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418720 DLI 5.9 DLR 7.9: By December 31, 2029, new generation as well as transmission and distribution projects initiated by BT, SIB, and STB respectively or the Recipient’s government are consistent with the adopted (Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Generation as well as T&D investments and investment Value No Due by Dec 2029 Due by Dec 2029 decisions are made consistent with adopted plans. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418721 DLI 5.10 DLR 7.10: By December 31, 2030, new generation as well as transmission and distribution projects initiated by BT, SIB, and STB respectively or the Recipient’s government are consistent with the adopte (Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: 5/8/2024 Page 31 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Baseline Actual (Previous) Actual (Current) 2029 Generation as well as T&D investments and investment Value No Due by Dec 2030 Due by Dec 2030 decisions are made consistent with adopted plans. Date -- 02-Oct-2023 15-Apr-2024 -- Comments ►DLI 6 DLI 8: Implementation of good-practice corporate governance at BT (Outcome, 13,814,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2029 The SB and sub- committees were partially achieved but established and independent members SBs and specialized No good-practice corporate Value functioning for SIB and need to be hired to chair committees are governance structure STB and to be the sub-committees and functional. esablished for BT by Dec SB 31, 2022 Date -- 02-Oct-2023 15-Apr-2024 -- The SB and sub-committees were established and functioning for BT, SIB and STB but the entities shall also Comments appoint independent members to chair sub-committees and later the entire SB IN01418723 DLI 6.1 DLR 8.1: SBs are functional and formed specialized committees (audit and compensation committees) at generation, T&D companies, However independent SB members. (Intermediate Outcome, 2,902,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 The SB and sub- committees were The SB and sub- established and committees were No good-practice corporate functioning for SIB and Value established and -- governance structure STB and to be functioning for BT, SIB esablished for BT by Dec and STB 31, 2022. But no independent members. Date -- 02-Oct-2023 15-Apr-2024 -- The SB and sub-committees were established and functioning for BT, SIB and STB but independent members to be hired. Comments IN01418724 DLI 6.2 DLR 8.2: SBs and specialized committees are functional but no independent members (Outcome, 3,627,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 5/8/2024 Page 32 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) The SB sub-committees The SB sub-committees are functioning for BT, SIB are functioning for SIB No good-practice corporate and STB but independent Value and STB and to be -- governance structure members need to be hired esablished for BT by Dec to chair the sub- 31, 2022 committees Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418725 DLI 6.3 DLR 8.3: SBs and specialized committees are functional (Outcome, 3,421,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 The SB sub-committees are functioning for SIB independent directors to No good-practice corporate Value and STB and to be be hired to chair the SB of -- governance structure esablished for BT by Dec the entities 31, 2022 Date -- 02-Oct-2023 15-Apr-2024 -- The SB sub-committees are functioning for BT, SIB and STB and independent directors to be hired to chair the SB of the entities Comments IN01418726 DLI 6.4 DLR 8.4: SBs and specialized committees are functional (Outcome, 1,895,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 No good-practice corporate Value Due by Dec 2023 Not functional. -- governance structure Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418727 DLI 6.5 DLR 8.5: SBs and specialized committees are functional (Outcome, 799,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 No good-practice corporate Value Due by Dec 2024 Due by Dec 2024 -- governance structure Date -- 02-Oct-2023 15-Apr-2024 -- Comments 5/8/2024 Page 33 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) IN01418728 DLI 6.6 DLR 8.6: SBs and specialized committees are functional (Outcome, 437,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 No good-practice corporate Value Due by Dec 2025 Due by Dec 2025 -- governance structure Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418729 DLI 6.7 DLR 8.7: SBs and specialized committees are functional (Outcome, 437,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 No good-practice corporate Value Due by Dec 2026 Due by Dec 2026 -- governance structure Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418730 DLI 6.8 DLR 8.8: By December 31, 2027, supervisory boards and specialized committees are functional (Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2027 Due by Dec 2027 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418731 DLI 6.9 DLR 8.9: By December 31, 2028, supervisory boards and specialized committees are functional (Intermediate Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2028 Due by Dec 2028 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments 5/8/2024 Page 34 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) IN01418732 DLI 6.10 DLR 8.10: By December 31, 2029, supervisory boards and specialized committees are functional (Intermediate Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 SBs and specialized Value No Due by Dec 2029 Due by Dec 2029 committees are functional. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418733 DLI 6.11 DLR 8.11: By December 31, 2030, supervisory boards and specialized committees are functional (Intermediate Outcome, 74,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 SBs and specialized Value No Due by Dec 2030 Due by Dec 2030 committees are functional. Date -- 02-Oct-2023 15-Apr-2024 -- Comments ►DLI 7 DLI 9: Improvement of BT's operational and financial transparency (Outcome, 4,366,000.00, 51%) Baseline Actual (Previous) Actual (Current) 2029 BT, SIB, and STB publish on their BT does not publish the key BT, SIB and STB BT, SIB and STB websites the key Value operational and financial published the data in Nov published the data in Nov quarterly operational data 2022 2022 and financial data for 2029. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418735 DLI 7.1 DLR 9.1: BT publishes on its website the key quarterly operational data and quarterly un-audited financial statements for 2019 (Output, 798,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT does not publish the key Value operational and financial Achieved Achieved -- data 5/8/2024 Page 35 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418736 DLI 7.2 DLR 9.2: BT publishes on its website the key quarterly operational data and quarterly un-audited financial statements for 2020 (Output, 725,000.00, 100%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT does not publish the key Value operational and financial Achieved Achieved -- data Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418737 DLI 7.3 DLR 9.3: BT publishes on its website the key quarterly operational data and quarterly un-audited financial statements for 2021 (Output, 1,022,000.00, 71%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT does not publish the key BT, SIB and STB Value operational and financial published the data in Nov Achieved -- data 2022 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418738 DLI 7.4 DLR 9.4: BT publishes on its website the key quarterly operational data and quarterly un-audited financial statements for 2022 (Output, 799,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT does not publish the key Value operational and financial Due by Dec 2023 Achieved -- data Date -- 02-Oct-2023 15-Apr-2024 -- the 2021-2023 financial and operational data of BT, SIB and STB and the 2022 audited FS of all three entities have been published in the MEWR's website Comments IN01418739 DLI 7.5 DLR 9.5: BT publishes on its website the key quarterly operational data and quarterly un-audited financial statements for 2023 (Output, 437,000.00, 0%) Unit of Measure: Text Indicator Type: 5/8/2024 Page 36 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Baseline Actual (Previous) Actual (Current) 2029 BT does not publish the key Value operational and financial Due by Dec 2024 Due by Dec 2024 -- data Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418740 DLI 7.6 DLR 9.6: BT publishes on its website the key quarterly operational data and quarterly un-audited financial statements for 2024 (Output, 400,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT does not publish the key Value operational and financial Due by Dec 2025 Due by Dec 2025 -- data Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418741 DLI 7.7 DLR 9.7: By December 31, 2026, BT, SIB, and STB publish on their websites key quarterly operational data and unaudited financial statements for 2025 (Intermediate Outcome, 37,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2026 Due by Dec 2026 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418742 DLI 7.8 DLR 9.8: By December 31, 2027, BT, SIB, and STB publish on their websites key quarterly operational data and unaudited financial statements for 2026 (Intermediate Outcome, 37,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2027 Due by Dec 2027 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418743 DLI 7.9 DLR 9.9: By December 31, 2028, BT, SIB, and STB publish on their websites key quarterly operational data and unaudited financial statements for 2027 (Intermediate Outcome, 37,000.00, 0%) 5/8/2024 Page 37 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2028 Due by Dec 2028 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418744 DLI 7.10 DLR 9.10: By December 31, 2029, BT, SIB, and STB publish on their websites key quarterly operational data and unaudited financial statements for 2028 (Intermediate Outcome, 37,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT, SIB, and STB publish on their websites the key Value No Due by Dec 2029 Due by Dec 2029 quarterly operational and financial data for 2028. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418745 DLI 7.11 DLR 9.11: By December 31, 2030, BT, SIB, and STB publish on their websites key quarterly operational data and unaudited financial statements for 2029. (Intermediate Outcome, 37,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 BT, SIB, and STB publish on their websites the key Value No Due by Dec 2030 Due by Dec 2030 quarterly operational and financial data for 2029. Date -- 02-Oct-2023 15-Apr-2024 -- Comments ►DLI 8 DLI #10: Reduction of Electricity Sector costs (Intermediate Outcome, 14,085,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2029 Costs cannot increase the Value No 0.00 0.00 previous year’s level adjusted for inflation. 5/8/2024 Page 38 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418747 DLI 8.1 DLR 10.1: By December 31, 2022: (a) BT purchases fuel oil through international competitive process; and (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat (Intermediate Outcome, 5,189,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Due by December 31 Due by December 31 Value No -- 2023 2023 Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418748 DLI 8.2 DLR 10.2: By December 31, 2023: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 5,189,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2023 Due by Dec 2023 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418749 DLI 8.3 DLR 10.3: By December 31, 2024: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2024 Due by Dec 2024 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418750 DLI 8.4 DLR 10.4: By December 31, 2025: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 5/8/2024 Page 39 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Value No Due by Dec 2025 Due by Dec 2025 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418751 DLI 8.5 DLR 10.5: By December 31, 2026: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2026 Due by Dec 2026 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418752 DLI 8.6 DLR 10.6: By December 31, 2027: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 371,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2027 Due by Dec 2027 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418753 DLI 8.7 DLR 10.7: By December 31, 2028: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 371,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2028 Due by Dec 2028 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418754 DLI 8.8 DLR 10.8: By December 31, 2029: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 371,000.00, 0%) Unit of Measure: Text Indicator Type: 5/8/2024 Page 40 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Baseline Actual (Previous) Actual (Current) 2029 Costs cannot increase the Value No Due by Dec 2029 Due by Dec 2029 previous year’s level adjusted for inflation. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418755 DLI 8.9 DLR 10.9: By December 31, 2030: (a) BT purchases fuel oil through international competitive process; (b) BT’s stock of fuel oil does not exceed the level required for emergency supply of heat; and (Intermediate Outcome, 371,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Costs cannot increase the Value No Due by Dec 2030 Due by Dec 2030 previous year’s level adjusted for inflation. Date -- 02-Oct-2023 15-Apr-2024 -- Comments ►DLI 9 DLI #11: Improved prioritization, predictability, and transparency of cash flows in the Electricity Sector (Outcome, 20,016,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2029 Collection and distribution of partially achieved but electricity sector Value No 0.00 further improvement is revenues is done in required compliance with the Escrow Account Regulations Date -- 02-Oct-2023 15-Apr-2024 -- DLI 11 on the escrow account is separated into three DLRs. DLR 11.1 focuses on the application of the current escrow account rules that allocate cash based on financial plans approved by a supervisory board. However, it was agreed to transition to tariff-based cash allocation system vs supervisory board approval of Comments the financing plan which creates high uncertainties about cash destribution among the three companies, The required amendments to the existing legislation are supported under the Programmatic Development Policy Operation Series (P501015). IN01418757 DLI 9.1 DLR 11.1: By December 31, 2022: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (Outcome, 6,894,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 partially achieved but Value No Due by December 2022 requires further -- improvements 5/8/2024 Page 41 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date -- 02-Oct-2023 15-Apr-2024 -- Partially achieved. Comments IN01418758 DLI 9.2 DLR 11.2: By December 31, 2022: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (b (Outcome, 6,894,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by December 2022 Due by December 2022 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418759 DLI 9.3 DLR 11.3: By June 30, 2023: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (b) (Outcome, 1,482,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by June 2023 Due by June 2023 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418760 DLI 9.4 DLR 11.4: By December 31, 2023: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (Outcome, 1,482,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2023 Not achieved. -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418761 DLI 9.5 DLR 11.5: By June 30, 2024: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (b) ex (Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 5/8/2024 Page 42 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Value No Due by June 2024 Due by June 2024 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418762 DLI 9.6 DLR 11.6: By December 31, 2024: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (Outcome, 741,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2024 Due by Dec 2024 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418763 DLI 9.7 DLR 11.7: By December 31, 2025: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (Outcome, 297,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due to Dec 2025 Due to Dec 2025 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418764 DLI 9.8 DLR 11.8: By December 31, 2026: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (b (Outcome, 297,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2026 Due by Dec 2026 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418765 DLI 9.9 DLR 11.9: By December 31, 2027: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (Outcome, 297,000.00, 0%) Unit of Measure: Text Indicator Type: 5/8/2024 Page 43 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2027 Due by Dec 2027 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418766 DLI 9.10 DLR 11.10: By December 31, 2028: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and (Outcome, 297,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Value No Due by Dec 2028 Due by Dec 2028 -- Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418767 DLI 9.11 DLR 11.11: By December 31, 2029: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and ( (Outcome, 297,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Collection and distribution of electricity sector Value No Due by Dec 2029 Due by Dec 2029 revenues is done in compliance with the Escrow Account Regulations. Date -- 02-Oct-2023 15-Apr-2024 -- Comments IN01418768 DLI 9.12 DLR 11.12: By December 31, 2030: (a) collection and distribution of electricity sector revenues from domestic market are systematically carried out according to the Escrow Account Regulations; and ( (Outcome, 297,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2029 Collection and distribution of electricity sector Value No Due by Dec 2030 Due by Dec 2030 revenues is done in compliance with the Escrow Account Regulations. 5/8/2024 Page 44 of 45 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date -- 02-Oct-2023 15-Apr-2024 -- Comments 5/8/2024 Page 45 of 45