$ Report No: RES00224 RESTRUCTURING PAPER ON A PROPOSED PROJECT RESTRUCTURING OF DRC Electricity Access & Services Expansion (EASE) APPROVED ON 04-May-2017 TO Republique Democratique du Congo Energy & Extractives Eastern And Southern Africa Regional Vice President: Victoria Kwakwa Regional Director: Wendy E. Hughes Country Director: Albert G. Zeufack Practice Manager: Yadviga Viktorivna Semikolenova Task Team Leader(s): Fabrice Karl Bertholet, Didier Makoso Tsasa The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) ABBREVIATIONS AND ACRONYMS The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) @#&OPS~Doctype~OPS^dynamics@restrhybridbasicdata#doctemplate BASIC DATA Product Information Operation ID Operation Name P156208 DRC Electricity Access & Services Expansion (EASE) Product/Financing Instrument Geographical Identifier Investment Project Financing (IPF) Congo, Democratic Republic of Approval Date Current Closing Date 04-May-2017 30-Jun-2024 Original EA Category Partial Assessment (B) (PAD Approval Package-04 May 2017) Organizations Borrower Responsible Agency Republique Democratique du Congo Unite de Coordination et de Management des projets du MERH @#&OPS~Doctype~OPS^dynamics@restrhybridoperationstatus#doctemplate OPERATION STATUS Project Development Objective (DO) Original Development Objective The project development objective is to expand access to electricity in target areas. Disbursement Summary (in USD million) Source of Funds Net Commitment Disbursed Balance % Disbursed IBRD -- -- -- 0 IDA 145.00 139.97 5.03 96.53 i The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) Grants -- -- -- 0 Policy Waivers Does this restructuring trigger the need for any policy waiver(s)? No @#&OPS~Doctype~OPS^dynamics@restrhybridmpa#doctemplate @#&OPS~Doctype~OPS^dynamics@restrhybridmpa#doctemplate ii The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) TABLE OF CONTENTS I. PROJECT STATUS AND RATIONALE FOR RESTRUCTURING ........................................................................................1 II. DESCRIPTION OF PROPOSED CHANGES ....................................................................................................................1 III. PROPOSED CHANGES ................................................................................................................................................1 IV. DETAILED CHANGE(S) ...............................................................................................................................................2 The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) I. PROJECT STATUS AND RATIONALE FOR RESTRUCTURING A. Project Status 1. The Bank approved financing on May 4, 2017, for the EASE Project (US$ 145 million), which became effective on February 1, 2018. The project development objective is to expand access to electricity in target areas. The Project underwent a first restructuring in November 2021 which revised the estimated costs of the components and extended the Closing Date by one year. A second restructuring in October 2023 extended the Closing Date by a further 8 months to June 30, 2024. 2. Major activities under the Project have been completed with the exception of the distribution grid rehabilitation contract in Gbadolite. It has been agreed that this ongoing activity would be transferred to the AGREE project. Major project objectives (as reflected in PDO indicators) have been achieved. The Project is currently rated as moderately satisfactory. B. Rationale for Restructuring 3. By a letter dated June 21, 2024, the Minister of Finance has requested the cancellation of US$ 6.0 million from the Project funds, which are currently uncommitted and will not be disbursed before the closing date or in the subsequent grace period. II. DESCRIPTION OF PROPOSED CHANGES 4. The proposed change is a cancellation of SDR 4,418,644 (equivalent to US$ 6.0 million) from Grant No. D177-ZR. A reallocation between disbursement categories will also be carried out to reflect the reduced grant amount and the expected expenditures by category. No other changes are proposed. @#&OPS~Doctype~OPS^dynamics@restrhybridsummarychanges#doctemplate Summary changes III. PROPOSED CHANGES Operation Information Proposed Changes Operation Information Proposed Changes Disbursements Estimates Yes Loan Cancellations Yes Development Objective No Reallocations Yes Safeguard Policies Triggered No Loan Closing Date Extension No ISDS No Financial Management No MFD/PCE No Procurement No Page 1 The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) Results No Institutional Arrangement No Risks No Implementation Schedule No Legal Covenants No Conditions No Implementation Modalities No Disbursements Arrangements No DDO No Clients No Appraisal Summary No Components No @#&OPS~Doctype~OPS^dynamics@restrhybriddetailedchanges-disclose#doctemplate IV. DETAILED CHANGE(S) COSTS & FINANCING Private Capital Facilitation Is this an MFD-Enabling Project (MFD-EP)? Is this project Private Capital Enabling (PCE)? LOANS Cancellations Reason Value Loan/Credit/ Current Cancellation New for Status Currency Date of Trust Fund Amount Amount Amount Cancellati Cancellation on Disbursi IDA-60180- 19,900,000.0 ng&Rep XDR 0.00 19,900,000.00 001 0 aying LOAN IDA-D1770- Disbursi 86,900,000.0 XDR 4,418,644.00 21-Jun-2024 82,481,356.00 RESTRUCT 001 ng 0 URING, Page 2 The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) COST SAVINGS Reallocations IDA-60180-001 Cancellations (if any): New Allocation: Currency: XDR 0.00 19,900,000.00 Financing % (Type Total) Category Expenditure Current Actuals + Proposed No. Category Allocation Committed Allocation Current Proposed 1A GD, NCS, CONS 7,586,482.76 7,155,828.73 7,586,482.76 100.00 100.00 OTHER THAN CAT 2&3; 1B WORKS OTHER THAN 4,506,068.19 4,505,867.75 4,506,068.19 100.00 100.00 CAT 2 & 3; 2A GD, NCS, CONS PART 0.00 0.00 0.00 100.00 100.00 B.1; 2B WORKS PART B.1; 4,626,843.32 4,626,692.91 4,626,843.32 100.00 100.00 3A GD, NCS, CONS PART 0.00 0.00 0.00 100.00 100.00 B.2; 3B WORKS PART B.2; 3,180,605.73 3,180,605.73 3,180,605.73 100.00 100.00 Total 19,900,000.00 19,900,000.00 IDA-D1770-001 Cancellations (if any): New Allocation: Currency: XDR 4,418,644.00 82,481,356.00 Financing % (Type Total) Category Expenditure Current Actuals + Proposed No. Category Allocation Committed Allocation Current Proposed 1A GD, NCS, CONS 16,697,858.42 16,697,072.82 16,697,100.00 100.00 0.00 OTHER THAN CAT 2&3; 1B WORKS OTHER THAN 58,393,891.38 57,363,041.29 56,654,743.00 100.00 0.00 CAT 2 & 3; 3A GD, NCS, CONS PART 5,155,862.07 4,829,616.90 4,829,996.66 100.00 0.00 B.2; 3B WORKS PART B.2; 5,892,413.79 2,729,700.26 3,539,542.00 100.00 0.00 4 PPF REFINANCING; 759,974.34 759,974.34 759,974.34 100.00 0.00 Total 86,900,000.00 82,481,356.00 Page 3 The World Bank DRC Electricity Access & Services Expansion (EASE) (P156208) DISBURSEMENTS Operation Dates & Projection Details Reasons to change the full Disbursement date and/or the projection Implementation Start Date Operation Closing Date 04-May-2017 30-Jun-2024 Projected Date for Full Disbursement 10-Nov-2022 Expected Disbursements (in US $) (Absolute) Original Estimation at Preparation Actual Year Revised Estimation (Approval Package – 04 May 2017) FY2017 0.00 0.00 30,109.01 FY2018 11,055,555.60 15,000,000.00 15,222,481.14 FY2019 22,111,111.08 26,000,000.00 19,289,473.53 FY2020 29,481,481.44 7,000,000.00 11,542,497.61 FY2021 29,481,481.44 33,000,000.00 20,210,994.78 FY2022 11,055,555.60 25,000,000.00 31,090,075.10 FY2023 7,370,370.36 28,000,000.00 17,392,788.99 FY2024 0.00 0.00 23,447,390.33 FY2025 0.00 0.00 0.00 FY2026 0.00 0.00 0.00 Page 4