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): Artur Kochnakyan Seq No: 3 | ARCHIVED on 09-Feb-2022 | ISR48075 | Created by: Hiwote Tadesse on 01-Sep-2021 | Modified by: Farida Mamadaslamova on 04- Feb-2022 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. Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Implementation Status and Key Decisions Despite the COVID-19 related challenges, implementation of the Project is progressing well. Several of the Disbursement Linked Results (DLRs) have been achieved by December 2021 and some actions of the Program Action Plans have been partially implemented. In particular, BT is doing good progress with establishment of Supervisory Boards and the specialized committees (audits and compensation) at BT and the newly created power transmission (Shabakahoi Intiqoli Barq) and distribution (Shabakahoi Taqsimoti Barq) companies, comprising of members of supervisory boards and chaired by independent supervisory board members. Considering the impact of COVID-19 pandemic on the financial and operational standing of BT, the Power Utility Financial Recovery Program need to be restructured to revise the results framework, indicators and the DLR targets of this Program. 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 58.72 80.47 42% Key Dates (by loan) 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 2/9/2022 Page 1 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) 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 Not Achieved 0.00 end-user tarriffs DLR 1.2 Cost-recovery 1.2 Regular XDR 2,176,000.00 Not Achieved 0.00 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 Not Achieved 0.00 between MOF & BT DLR 2.7 Revision of SA 2.7 Regular XDR 1,016,000.00 Not Achieved 0.00 between MOF & BT DLR 2.8 Revision of SA 2.8 Regular XDR 4,062,000.00 Not Achieved 0.00 between MOF & BT DLR 2.9 Revision of SA 2.9 Regular XDR 1,016,000.00 Not Achieved 0.00 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 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 2/9/2022 Page 2 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) 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 0.00 byBT fr Sangtuda1 DLR5.4 Electricity rcd 5.4 Regular XDR 2,176,000.00 Not Achieved 0.00 byBT fr Sangtuda1 DLR5.5 Electricity rcd 5.5 Regular XDR 1,450,000.00 Not Achieved 0.00 byBT fr Sangtuda1 DLR5.6 Electricity rcd 5.6 Regular XDR 725,000.00 Not Achieved 0.00 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 Not Achieved 0.00 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 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 2/9/2022 Page 3 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) DLR9.2 BT 9.2 Regular operational&financial XDR 725,000.00 Fully Achieved 0.00 transpar DLR9.3 Improvt BT 9.3 Regular XDR 725,000.00 Not Achieved 0.00 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 Not Achieved 0.00 tarriffs and Unit Program Action Plan 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-Jun-2022 In Progress 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 Action Description Hire two additional internal audit staff for BT Source DLI# Responsibility Timing Timing Value Status Within 6 months after Fiduciary Systems BT Other the Program Completed effectiveness 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 Fiduciary Systems BT Due Date 30-Dec-2022 Revised Date Completion Measurement The internal audit staff receives the required certification and the evidence is submitted to the Bank Comments 2/9/2022 Page 4 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) 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 In Progress The MOF and BT to revise subsidiary agreements as recommended and share the copies of the revised agreements Completion Measurement with the Bank 11 SA under the Group 1 were restructured to convert US$442 million of BT long-term debt into equity. Restructuring Comments of the remaining SA will be finalized by end of February 2022 as per the MoF extension letter. Action Description Corporate governance of BT generation, transmission, and distribution companies is strengthened Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems DLI 8 The Government Due Date 31-Mar-2022 Revised Date (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 (SC) The SB and SC were formed with their members appointed for the transmission and distribution companies (SIB and Comments STB) in 2021 and to be finalized for the generation company (BT) by end of March 2022. 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 Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems BT Due Date 16-Dec-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 Comments 2/9/2022 Page 5 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Action Description Create a dedicated section in BT public website to post the information on procurement complaints handling Source DLI# Responsibility Timing Timing Value Status Created by 31-May- 2022 and maintained Fiduciary Systems BT Other continuously during Not Yet Due 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. Comments 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 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 29-Apr-2022 In Progress 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 Hire additional environmental specialists/consultants at BT generation and transmission companies and ensure that Action Description the newly formed generation, transmission and distribution companies also have adequate in-house environmental capacity Source DLI# Responsibility Timing Timing Value Status Environmental and Social BT Due Date 30-Oct-2020 Completed Systems 2/9/2022 Page 6 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) 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 Action Description generation and transmission companies, and for their contractors Source DLI# Responsibility Timing Timing Value Status Environmental and Social BT with assistance 30-Mar-2022 and once Other Revised Date Systems of ESPMU per year afterwards. 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 30-Apr-2022 and once BT 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 MOHSP or the designated agency will carry out analysis of poverty impacts of planned annual tariff increases and Action Description estimate the fiscal cost of protection through TSA and adjustments required to lifeline tariffs Source DLI# Responsibility Timing Timing Value Status By 30-Apr-2022 for Ministry of Health tariff increase effective Environmental and Social and Social Other from 2022 and not later In Progress Systems Protection than July of each year starting from 2022 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 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 2/9/2022 Page 7 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Source DLI# Responsibility Timing Timing Value Status Environmental and Social MOHSP and MOF Due Date 31-Oct-2022 Revised Date Systems Refined design of TSA incorporates a mechanism to mitigate the impact of increasing electricity prices, including Completion Measurement corresponding budget allocation The national roll-out of TSA has been completed. However, the fiscal situation of the Government has deteriorated Comments and, therefore, the Bank team is working with the Government to help design lifeline/increasing block tariff mechanism 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 Environmental and Social BT, MEWR, and Due Date 29-Apr-2022 In Progress Systems AMC Completion Measurement Lifeline tariff mechanism was developed Comments Action Description Implementation of a lifeline tariff mechanism for residential consumers Source DLI# Responsibility Timing Timing Value Status Environmental and Social BT, MEWR, and September 30, 2022 Other Revised Date Systems AMC and onwards Completion Measurement Lifeline tariff mechanism is implemented considering technical constraints Comments Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance High Substantial Substantial Macroeconomic Substantial Substantial High Sector Strategies and Policies Substantial Moderate Moderate Technical Design of Project or Program Substantial Moderate Moderate Institutional Capacity for Implementation and Substantial Moderate Moderate Sustainability Fiduciary High High High 2/9/2022 Page 8 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Environment and Social Substantial Substantial Substantial Stakeholders Substantial Moderate Moderate Other Substantial Substantial -- Overall Substantial Substantial Substantial RiskComments Comments Due to the negative impact of COVID-19 on the financial standing of BT, SIB and STB, the utility companies have faced significant financial challenges caused by i) lower collections from sales of electricity including non-payments for exported electricity to Afghanistan and ii) depreciation of the Tajik Somoni against the US$ resulted in BT cash flow deficit given that most of BT's debt, liabilities and Power Purchase Agreements (PPAs) are US$ denominated. Moreover, given the COVID-19 impact on the socio-economic conditions of the country, the Government could not afford to increase the electricity tariff in 2020 and 2021 as planned under the DLI 1.1. Thus, the macroeconomic risk is rated as "High". Results PDO Indicators by Objectives / Outcomes Results Area 1: Achievement of Financial Viability of BT IN01034475 ►Reduction of BT’s cash deficit (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target To be confirmed by the To be confirmed by the Value audit of 2019 annual Too early to measure audit report due by July 0.00 financial statements 2022 Date 31-Dec-2019 31-Dec-2020 31-Dec-2021 31-Dec-2025 Due to the negative impact of COVID-19 on the financial standing of the utility companies (BT, SIB, STB) have faced significant financial challenges caused by i) lower collections from sales of electricity including non-payments for export of electricity to Afghanistan and ii) depreciation of the Tajik Comments Somoni against the US$ resulted in BT cash flow deficit given most of BT's debt, liabilities and PPAs are denominated in US$. Results Area 2: Ensuring Electricity Supply Reliability IN01034571 ►Reduction of equipment failures in electricity transmission and distribution networks of BT (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 2,417.00 2,250.00 2,180.00 1,500.00 Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 31-Dec-2025 Comments IN01034573 ►Adequate electricity supply received by BT from Sangtuda-1 power plant (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target At least 1,800 Value At least 1,800 GWh/year 2,184.00 2,200.00 GWh/year 2/9/2022 Page 9 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 30-Oct-2019 Comments Results Area 3: Strengthening of Governance and Improvement of Transparency of BT IN01034572 ►New generation and T&D capital investment decisions are made by the Recipient considering sound economic, technical, and financial principles (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Preparation of generation Preparation of Value No expansion plan is generation expansion Yes underway plan is underway Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 31-Dec-2025 MoF is requesting (letter № 5/5-19/1005, dated December 31, 2021) to extend the deadline to October 30, 2022. MoF is requesting (letter № 5/5-19/1005, dated December 31, 2021) to extend the deadline to Comments October 30, 2022. Intermediate Results Indicators by Results Areas Results Area 1: Achievement of Financial Viability of BT IN01034574 ►Extent to which end-user tariffs cover the revenue requirement of BT (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 20.00 20.00 20.00 100.00 Date 31-Dec-2018 31-Dec-2019 31-Dec-2021 31-Dec-2025 Tariffs were not increased in 2020 and 2021 Comments IN01034577 ►Days of payables outstanding to Sangtuda-1 power plant (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 397.00 388.00 330.00 45.00 Date 31-Dec-2018 31-Dec-2019 31-Dec-2021 30-Dec-2026 As per the audit report of BT (December 31, 2020) and the data for 2021 will be available in the 2021 audit Comments report due by July 2022 IN01034579 ►Debt service coverage ratio (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.04 0.04 0.06 1.10 Date 31-Dec-2018 31-Dec-2019 31-Dec-2021 30-Dec-2026 As per the data of the BT audited annual report as of December 31, 2020 Comments 2/9/2022 Page 10 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Results Area 2: Ensuring Electricity Supply Reliability IN01034575 ►Actual expenditures on repair and upgrade of electricity T&D assets compared to the plan for 2020-2025. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 30-Dec-2026 Comments Results Area 3: Strengthening of BT Governance and Improvement of Transparency IN01034576 ►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 generation Value No expansion plan is in in progress Yes progress Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 31-Dec-2025 Preparation of generation expansion plan is in progress Comments IN01034578 ►BT generation, transmission, and distribution companies have functional Supervisory Boards and the specialized committees (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Underway Underway Yes Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 31-Dec-2025 Establishment of the Supervisory Boards and formation of the specialized committees (audit and compensation) under the Supervisory Board for the transmission and distribution companies is finalized and Comments for the generation company - Barqi Tojik will be finalized by March 31, 2022. IN01034580 ►BT discloses key quarterly operational and financial data (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 31-Dec-2025 Comments IN01034581 ►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 10.00 60.00 Date 31-Dec-2018 31-Dec-2020 31-Dec-2021 31-Dec-2025 Comments The first survey would be conducted in fall 2021. 2/9/2022 Page 11 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Disbursement Linked Indicators DLI_IND_TABLE ►DLI 1 DLI 1: Achievement of cost-recovery end-user tariffs (Outcome, 19,000,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2025 Tariff below cost Value Tariffs below cost recovery Tariff below cost recovery -- recovery Date -- 31-Dec-2020 31-Dec-2021 -- Due to COVID-19 impact on socio economic conditions of the country any tariff increase was not considered by the Government in 2020 and 2021. BT and the newly-created companies (SIB and STB) completed distribution of assets and separation of accounts between the three companies, however, more time is needed for finalization of financial data required for computation of tariffs for each of the companies as well as Comments finalization of the staffing of the Tariff Unit at the AMC. The MoF, in its letter № 5/5-19/1005, dated December 31, 2021 requested restructuring of the Project to extend the deadline for achievement for these DLR to March and June 2022. IN01034583 DLI 1.1 DLR 1.1: (a) At least 12% increase of average end-user tariff for BT; (b) approval of the Electricity Tariff Paper satisfactory; and (c) establishment of an adequately staffed Tariff Unit at AMC (Intermediate Outcome, 11,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 The decree on tariff increase is expected to Tariffs below cost Value Tariffs below cost recovery -- be adopted by recovery September 30, 2021. Date -- 31-Dec-2020 31-Dec-2021 -- The decree on tariff increase is expected to be adopted by March 30, 2022 and the tariffs to be increased by June 2022 Comments IN01034584 DLI 1.2 DLR 1.2: 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, 3,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Value Tariffs below cost recovery Too early to measure Below cost-recovery tariff -- Date -- 31-Dec-2020 31-Dec-2021 -- The Ministry of Finance, in its letter № 5/5-19/1005, dated December 31, 2021 requested restructuring of the Project to extend the deadline for achievement for these to March and June 2022 Comments IN01034585 2/9/2022 Page 12 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) DLI 1.3 DLR 1.3: 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, 2,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Tariffs below cost Value Tariffs below cost recovery Too early to measure -- recovery Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034586 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, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 This DLR is due by Value Tariffs below cost recovery Too early to measure -- December 31, 2023 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034587 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, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 This DLR is due by Dec Value Tariffs below cost recovery Too early to measure -- 31, 2024 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034588 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, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Too early to measure, due Value Tariffs below cost recovery. Too early to measure -- by Dec 31, 2025 Date -- 31-Dec-2020 31-Dec-2021 -- Comments 2/9/2022 Page 13 of 26 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, 33,000,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2025 BT incurs excessive debt Revision of Group 1 Value service costs under loans Subsidiary Agreements in progress -- received from MOF was completed Date -- 31-Dec-2020 31-Dec-2021 -- Revision of Group 2 Subsidiary Agreements is in Progress and will be finalized by February 28, 2022 Comments IN01034590 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, 8,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT incurs excessive debt Revision of all Group 1 Revision of all Group 1 Value service costs under loans Subsidiary Agreements SAs was completed in -- received from MOF was completed 2020 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034591 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, 2,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT incurs excessive debt BT did not receive any Value service costs under loans Completed -- new financing in 2020 received from MOF Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034592 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, 2,400,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT incurs excessive debt Revision of all Group 1 Revision of all Group 1 Value service costs under loans Subsidiary Agreements Subsidiary Agreements -- received from MOF was completed was completed in 2020 Date -- 31-Dec-2020 31-Dec-2021 -- Comments 2/9/2022 Page 14 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) IN01034593 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, 4,600,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT incurs excessive debt Supervisory Board of BT Value service costs under loans adopted the formal Completed in 2020 -- received from MOF decision Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034594 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, 2,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT incurs excessive debt service costs under loans BT did not receive any Value received from MOF Completed -- new financing in 2020 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034595 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, 5,600,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Revision of all Group 2 BT incurs excessive debt Subsidiary Agreements is Value service costs under loans Too early to measure progressing and to be -- received from MOF finalized by February 28, 2022 Date -- 31-Dec-2020 31-Dec-2021 -- The revision of 28 Subsidiary Agreement under Group 2 and Group 3 is underway and requires more time for MoF to obtain approvals from relevant financing institutions following the clauses in respective Financing Agreements related to those Subsidiary Agreements, requiring to seek such approval in case of amendment Comments and modification. Therefore, MoF requested (letter № 5/5-19/1005, dated December 31, 2021) to extend the deadlines for these DLRs to February 28, 2022. IN01034596 DLI 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 (Output, 1,400,000.00, 0%) Unit of Measure: Text 2/9/2022 Page 15 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 new financing received by BT incurs excessive debt BT in 2021 will be Value service costs under loans Too early to measure -- confirmed by the audit received from MOF report for 2021 Date -- 31-Dec-2020 31-Dec-2021 -- The revision of 28 Subsidiary Agreement under Group 2 and Group 3 is underway and requires more time for MoF to obtain approvals from relevant financing institutions following the clauses in respective Financing Agreements related to those Subsidiary Agreements, requiring to seek such approval in case of amendment Comments and modification. Therefore, MoF requested (letter № 5/5-19/1005, dated December 31, 2021) to extend the deadlines for these DLRs to February 28, 2022. IN01034597 DLI 2.8 DLR 2.8: (a) MOF and BT revise terms of nine additional loans under Group 2 SAs; (b) Recipient converts into equity difference between original and revised interest payable under each of nine loans (Output, 5,600,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Revision of all Group 2 BT incurs excessive debt Subsidiary Agreements is Value service costs under loans Too early to measure progressing and to be -- received from MOF finalized by February 28, 2022 Date -- 31-Dec-2020 31-Dec-2021 -- The revision of 28 Subsidiary Agreement under Group 2 and Group 3 is underway and requires more time for MoF to obtain approvals from relevant financing institutions following the clauses in respective Financing Agreements related to those Subsidiary Agreements, requiring to seek such approval in case of amendment Comments and modification. Therefore, MoF requested (letter № 5/5-19/1005, dated December 31, 2021) to extend the deadlines for these DLRs to February 28, 2022. IN01034598 DLI 2.9 DLR 2.9: 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, 1,400,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT incurs excessive debt to be confirmed by 2021 Value service costs under loans Too early to measure audited reports due by -- received from MOF June 30, 2022 Date -- 31-Dec-2020 31-Dec-2021 -- Comments ►DLI 3 DLI 3: Reduction of BT's cash deficit (Outcome, 28,000,000.00, 0%) 2/9/2022 Page 16 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Baseline Actual (Previous) Actual (Current) 2025 The baseline cash deficit was established upon To be confirmed by BT To be confirmed based on receipt of BT's audited audited financial Value the audit of 2019 financial -- financial statements for statements for Recipient's statements Recipient's fiscal year fiscal year 2021 2019 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034600 DLI 3.1 DLR 3.1: At least 7 percent reduction from the BT’s cash deficit in 2019 (Intermediate Outcome, 1,960,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 The progress with Not achieved for 2020. reduction would be To be confirmed based on For 2021 to be confirmed measured upon receipt of Value the audit of 2021 financial by BT's audited fin -- BT's audited financial statements statements due by June statements for 2020 (by 30, 2022. June 30, 2021). Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034601 DLI 3.2 DLR 3.2: At least 22 percent reduction from the level of the preceding year (Intermediate Outcome, 4,200,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 To be confirmed based on BT's audited fin Value the audit of 2021 financial Too early to measure statements is due by June -- statements 30, 2022. Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034602 DLI 3.3 DLR 3.3: At least 35 percent reduction from the level of the preceding year (Intermediate Outcome, 3,640,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 To be confirmed based on Value the audit of 2022 financial Too early to measure Too early to measure -- statements Date -- 31-Dec-2020 31-Dec-2021 -- 2/9/2022 Page 17 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Comments IN01034603 DLI 3.4 DLR 3.4: At least 50 percent reduction from the level of the preceding year (Intermediate Outcome, 4,200,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 To be confirmed based on Value the audit of 2023 financial Too early to measure Too early to measure -- statements Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034604 DLI 3.5 DLR 3.5: At least 80 percent reduction from the level of the preceding year (Intermediate Outcome, 8,400,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 To be confirmed based on Value the audit of 2024 financial Too early to measure Too early to measure -- statements Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034605 DLI 3.6 DLR 3.6: No cash deficit (Intermediate Outcome, 5,600,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 To be confirmed based on Value the audit of 2025 financial Too early to measure Too early to measure -- statements Date -- 31-Dec-2020 31-Dec-2021 -- Comments ►DLI 4 DLI 5: Adequate electricity supply is received by BT from Sangtuda-1 power plant (Outcome, 17,000,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2025 Average of 1,895 2,184 GWh received in 2,184 GWh received in Value -- GWh/year in 2013-2017 2020 2020 Date -- 31-Dec-2020 31-Dec-2021 -- 2/9/2022 Page 18 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Comments IN01034607 DLI 4.1 DLR 5.1: At least 1,000 GWh is received by BT (Outcome, 3,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Average of 1,895 GWh/year in 2013-2017. 1,090 GWh received by Value The DLR target is expected BT by the deadline of Completed -- to be met by the original June 30, 2020 deadline of June 30, 2020 Date -- 30-Jun-2020 31-Dec-2021 -- Comments IN01034608 DLI 4.2 DLR 5.2: At least 800 GWh is received by BT (Outcome, 3,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 1,094 GWh received by Average of 1,895 Value BT from July 1 to Completed -- GWh/year in 2013-2017 December 31, 2020 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034609 DLI 4.3 DLR 5.3: At least 1,000 GWh is received by BT (Outcome, 3,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Average of 1,000 BT received 1230 GWh by Value Too early to measure -- GWh/year by June 2021 June 2021 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034610 DLI 4.4 DLR 5.4: At least 800 GWh is received by BT (Outcome, 3,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 2/9/2022 Page 19 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Average of 895 GWh/year BT received 980 GWh by Value Too early to measure -- in 2021 December 31, 2021 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034611 DLI 4.5 DLR 5.5: At least 1,800 GWh is received by BT (Outcome, 2,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Average of 1,895 due by December 31, Value Too early to measure -- GWh/year in 2013-2017 2022 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034612 DLI 4.6 DLR 5.6: At least 1,800 GWh is received by BT (Outcome, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Average of 1,895 Due by December 31, Value Too early to measure -- GWh/year in 2013-2017 2023 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034613 DLI 4.7 DLR 5.7: At least 1,800 GWh is received by BT (Outcome, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Average of 1,895 Due by December 31, Value Too early to measure -- GWh/year in 2013-2017 2024 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034614 DLI 4.8 DLR 5.8: At least 1,800 GWh is received by BT (Outcome, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: 2/9/2022 Page 20 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Baseline Actual (Previous) Actual (Current) 2025 Average of 1,895 Due by December 31, Value Too early to measure -- GWh/year in 2013-2017 2025 Date -- 31-Dec-2020 31-Dec-2021 -- 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, 14,900,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2025 Finalization of the Preparation of the generation expansion plan Value No generation expansion -- is extended to October 30, plan is underway 2022 Date -- 31-Dec-2020 31-Dec-2021 -- Significant progress has been made with preparation of the GEP, however, detailed modelling that was required for update of the analysis related to Rogun HPP project required more time and that impacted the Comments preparation progress for generation expansion plan. MoF is requesting (letter № 5/5-19/1005, dated December 31, 2021) to extend the deadline to October 30, 2022. IN01034616 DLI 5.1 DLR 7.1: MEWR completes the update of GEP (Output, 3,900,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Preparation of generation Preparation of generation Value No expansion plan is expansion plan is -- underway progressing Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034617 DLI 5.2 DLR 7.2: MEWR approves the updated GEP (Output, 5,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Preparation of generation Value No expansion plan is Extended to October 2022 -- underway Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034618 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, 4,000,000.00, 0%) 2/9/2022 Page 21 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Due by December 31, Value No Too early to measure -- 2022 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034619 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, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Due by December 31, Value No Too early to measure -- 2023 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034620 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, 500,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Due by December 31, Value No Too early to measure -- 2024 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034621 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, 500,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 Due by December 31, Value No Too early to measure -- 2025 Date -- 31-Dec-2020 31-Dec-2021 -- Comments 2/9/2022 Page 22 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) ►DLI 6 DLI 8: Implementation of good-practice corporate governance at BT (Outcome, 17,000,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2025 SBs are in the process of SBs and SC established being established with No good-practice corporate for SIB and STB. For BT is Value required committees -- governance structure expended to March 31, expected to be formed by 2022 March 31, 2021 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034623 DLI 6.1 DLR 8.1: SBs are functional and formed specialized committees (audit and compensation committees) at generation, T&D companies, comprising of SB members and chaired by independent SB members (Intermediate Outcome, 4,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 SBs are in the process of SBs and SC established being established with No good-practice corporate for SIB and STB. For BT is Value required committees -- governance structure expended to March 31, expected to be formed by 2022 March 31, 2021 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034624 DLI 6.2 DLR 8.2: SBs and specialized committees are functional (Outcome, 5,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 No good-practice corporate Value Too early to measure extended to March 2022 -- governance structure Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034625 DLI 6.3 DLR 8.3: SBs and specialized committees are functional (Outcome, 4,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 No good-practice corporate The deadline was Value Too early to measure -- governance structure extended to March 2022 Date -- 31-Dec-2020 31-Dec-2021 -- 2/9/2022 Page 23 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Comments IN01034626 DLI 6.4 DLR 8.4: SBs and specialized committees are functional (Outcome, 2,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 No good-practice corporate Due by December 31, Value Too early to measure -- governance structure 2022 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034627 DLI 6.5 DLR 8.5: SBs and specialized committees are functional (Outcome, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 No good-practice corporate Due by December 31, Value Too early to measure -- governance structure 2023 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034628 DLI 6.6 DLR 8.6: SBs and specialized committees are functional (Outcome, 500,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 No good-practice corporate Due by December 31, Value Too early to measure -- governance structure 2024 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034629 DLI 6.7 DLR 8.7: SBs and specialized committees are functional (Outcome, 500,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 No good-practice corporate Due by December 31, Value Too early to measure -- governance structure 2025 2/9/2022 Page 24 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) Date -- 31-Dec-2020 31-Dec-2021 -- Comments ►DLI 7 DLI 9: Improvement of BT's operational and financial transparency (Outcome, 5,100,000.00, 0%) Baseline Actual (Previous) Actual (Current) 2025 BT does not publish the key BT started publishing the BT started publishing the Value operational and financial operational and financial operational and financial -- data data data Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034631 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, 1,100,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT does not publish the key BT published the Value operational and financial operational and financial Completed -- data data for 2019 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034632 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, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT does not publish the key BT published the Value operational and financial Too early to measure operational and financial -- data data for 2020 Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034633 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, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 2/9/2022 Page 25 of 26 The World Bank Implementation Status & Results Report Tajikistan Power Utility Financial Recovery (P168211) BT does not publish the key Due by December 31, Value operational and financial Too early to measure -- 2022 data Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034634 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, 1,000,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT does not publish the key Due by December 31, Value operational and financial Too early to measure -- 2023 data Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034635 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, 500,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT does not publish the key Due by December 31, Value operational and financial Too early to measure -- 2024 data Date -- 31-Dec-2020 31-Dec-2021 -- Comments IN01034636 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, 500,000.00, 0%) Unit of Measure: Text Indicator Type: Baseline Actual (Previous) Actual (Current) 2025 BT does not publish the key Due by December 31, Value operational and financial Too early to measure -- 2025 data Date -- 31-Dec-2020 31-Dec-2021 -- Comments 2/9/2022 Page 26 of 26