The World Bank Implementation Status & Results Report FCPF Carbon Fund: Lao PDR Northern Laos Emission Reductions Payments Project (P165751) FCPF Carbon Fund: Lao PDR Northern Laos Emission Reductions Payments Project (P165751) EAST ASIA AND PACIFIC | Lao People's Democratic Republic | IBRD/IDA | Investment Project Financing (IPF) | FY 2021 | Seq No: 7 | Archived on 04-Sep-2024 | ISR01186 Implementing Agencies: Ministry of Agriculture and Forestry 1. OBJECTIVE 1.1 Development Objective Original Development Objective (Approved as part of Approval package on 07-Sep-2022) To make payments to the Program Entity for measured, reported and verified Emissions Reductions (ER) from reduced deforestation, forest degradation and enhancement of forest carbon stocks (REDD+) in six Lao PDR provinces and to distribute ER payments in accordance with an agreed benefit sharing plan (BSP). Has the Development Objective been changed since Board Approval of the Project Objective? No 2. COMPONENTS Name ERPA:(Cost 0.00) 3. OVERALL RATINGS Name Previous Current Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Substantial Substantial 4. KEY ISSUES & STATUS 4.1 Implementation Status and Key Decisions Sep 04, 2024 Page 1 of 6 The World Bank Implementation Status & Results Report FCPF Carbon Fund: Lao PDR Northern Laos Emission Reductions Payments Project (P165751) The first Emission Reduction Monitoring Report was finalized and approved in October 2023 for the delivery of 3.2 million emission reductions (ERs). Cumulative payments to Lao PDR of US$16 million were completed in July 2024 (including US$ 3 million advance payments). Preparations are underway in districts and villages within the emission reduction program area-Huanpanh, Luang Prabang, Oudomxay, Luang Namtha, Bokeo, and Xayabouly provinces-for the distribution of the first ER payment to stakeholders in accordance with the agreed benefit sharing plan. 5. SYSTEMATIC OPERATIONS RISK-RATING TOOL Rating at Approval Last Approved Rating Risk Category Approval Package - ISR Seq. 06 - 29 Mar Proposed Rating 08 Sep 2022 2024 Political and Governance  Substantial Moderate Macroeconomic  High High Sector Strategies and Policies  Substantial Moderate Technical Design of Project or Program  Substantial Moderate Institutional Capacity for Implementation and  Substantial Substantial Sustainability Fiduciary  Substantial Substantial Environment and Social  High Moderate Stakeholders  Substantial Moderate Overall  Substantial Substantial Sep 04, 2024 Page 2 of 6 The World Bank Implementation Status & Results Report FCPF Carbon Fund: Lao PDR Northern Laos Emission Reductions Payments Project (P165751) 6. RESULTS 6.1 PDO Indicators by PDO Outcomes To achieve payments for measured, reported and verified Emission Reductions in GFLL Program Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Volume of CO2 Emission 0.00 Jan/2019 3,200,000.00 02-Aug-2024 3,200,000.00 02-Aug-2024 8,400,000.00 Dec/2025 Reductions measured and Comments on The first Emission Reduction Monitoring Report (ERMR1) was validated and verified by a reported by the Program achieving targets Validation and Verification Body (VVB) and approved by FMT in October 2023. Emission Entity, verified by a Third reductions were transferred to the FCPF Carbon Fund in April 2024. The delivery amount was Party, and transferred to the slightly short of the target delivery amount of 3.4 million ERs. FCPF Carbon Fund (tCO2e) (Metric ton) Payment by the FCPF Carbon 0.00 Jan/2019 16,000,000 02-Aug-2024 16,000,000 02-Aug-2024 42,000,000.00 Dec/2025 Fund for CO2 Emission Comments on US$13 was paid to the GoL in July 2024, which, in addition to US$3 advance payments, totals Reductions generated by the achieving targets $16 million ($5/ER ). Program (US$) (Amount(USD)) ER payments distributed in No Jan/2019 No 02-Aug-2024 No 02-Aug-2024 Yes Dec/2025 accordance with agreed Comments on Not yet applicable. The distribution process is at the initial stages, with the first monitoring Benefit Sharing Plan (Y/N) achieving targets report due in December 2024. (Yes/No) 6.2 Intermediate Results Indicators by Components ERPA Indicator Name Baseline Actual (Previous) Actual (Current) Closing Period Sep 04, 2024 Page 3 of 6 The World Bank Implementation Status & Results Report FCPF Carbon Fund: Lao PDR Northern Laos Emission Reductions Payments Project (P165751) Value Month/Year Value Date Value Date Value Month/Year 0.00 Jan/2019 0.00 02-Aug-2024 0.00 02-Aug-2024 0.00 Dec/2025 N/A (Metric ton) Comments on By the project nature, there are no intermediate results indicators achieving targets Sep 04, 2024 Page 4 of 6 The World Bank Implementation Status & Results Report FCPF Carbon Fund: Lao PDR Northern Laos Emission Reductions Payments Project (P165751) 7. DATA ON FINANCIAL PERFORMANCE 7.1 Cumulative Disbursements 7.2 Disbursements (by loan) Loan/Credit/TF Status Original Revised Cancelled Disbursed Undisbursed % Disbursed TF-B4674 Effective 2.25 2.25 0.00 0.86 1.39 38.15% TF-B4673 Effective 39.75 39.75 0.00 15.16 24.58 38.15% 7.3 Key Dates (by loan) Loan/Credit/TF Status Approval Signing Effectiveness Orig. Closing Rev. Closing TF-B4673 Effective 12-Dec-2020 30-Dec-2020 08-Dec-2021 31-Dec-2025 31-Dec-2025 Sep 04, 2024 Page 5 of 6 The World Bank Implementation Status & Results Report FCPF Carbon Fund: Lao PDR Northern Laos Emission Reductions Payments Project (P165751) TF-B4674 Effective 12-Dec-2020 30-Dec-2020 08-Dec-2021 31-Dec-2025 31-Dec-2025 8. KEY DATES Key Events Planned Actual Approval Not Available 11-Dec-2020 Effectiveness 30-Dec-2021 08-Dec-2021 Mid-Term Review No. 01 13-May-2024 14-May-2024 Operation Closing/Cancellation 31-Dec-2025 9. RESTRUCTURING HISTORY 10. ASSOCIATED OPERATION(S) There are no associated operations Sep 04, 2024 Page 6 of 6