Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) Western and Central Africa | Cote d'Ivoire | Energy & Extractives Global Practice | Guarantees | Investment Project Financing | FY 2018 | Seq No: 6 | ARCHIVED on 19-May-2022 | ISR51260 | Implementing Agencies: Government of Cote d'Ivoire, CI-Energies Key Dates Key Project Dates Bank Approval Date: 29-Jun-2018 Effectiveness Date: 21-May-2019 Original Closing Date: 30-Sep-2022 Revised Closing Date: 30-Sep-2022 Guarantee Expiration Date: :30-Sep-2030 Guarantee Information GU INFO TBL Coverage: [✓] Loan Guarantee [ ] Payment guarantee Type of Implementing entity: Public Guarantee beneficiary: Guaranteed Lender (Deutsche Bank) Guarantee Fees UpFront pdoTable Project Development Objectives Project Development Objective The proposed development objective is to improve the electricity sector s financial performance by refinancing the short-term liabilities of CI- ENERGIES. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO €Satisfactory €Satisfactory Overall Implementation Progress (IP) €Satisfactory €Satisfactory Overall Risk Rating €Substantial €Substantial Implementation Status and Key Decisions This 6th ISR for the CI-Energies Guarantee Project (P164145) follows the mission held from March 7th to 21st 2022. 5/19/2022 Page 1 of 4 Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) The sector faced unfortunate breakdowns and delays on the electricity generation projects and requires financial support from the Government to maintain its financial viability, attract new investment, and meet its agreements. The Bank stands ready to support the government's resilience efforts in the short and medium term as needed. Key Government Actions / Commitments Action Description Status Guarantee Conditions Precedent Description Status Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- €Substantial €Substantial Macroeconomic -- €Moderate €Moderate Sector Strategies and Policies -- €Substantial €Substantial Technical Design of Project or Program -- €Low €Low Institutional Capacity for Implementation and -- €Moderate €Substantial Sustainability Stakeholders -- €Low €Low Other -- €Low €Low Overall -- €Substantial €Substantial Results PDO Indicators by Objectives / Outcomes Improve the electricity sectors’ financial performance and its ability to attract clean investments IN01136070 ►Private capital mobilized (EUR million) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 445.00 445.00 400.00 Date 31-Dec-2017 15-Dec-2021 10-May-2022 30-Sep-2022 IN01136166 ►Debt service coverage (ratio) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.85 1.79 1.10 Date 31-Dec-2017 30-Jun-2021 31-Dec-2021 30-Sep-2022 5/19/2022 Page 2 of 4 Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) IN01136167 ►Category B costs coverage (ratio) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.03 1.25 1.15 1.10 Date 31-Dec-2017 30-Jun-2021 31-Dec-2021 30-Sep-2022 IN01136168 ►EBITDA (CFAF) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 9.80 69.95 58.30 109.00 Date 31-Dec-2017 31-Dec-2020 31-Dec-2021 30-Sep-2022 IN01136169 ►Capital indirectly leveraged from private sector investments in electricity generation from cleaner energy sources (US$, million) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 629.00 629.00 800.00 Date 31-Dec-2017 30-Sep-2021 10-May-2022 30-Sep-2022 Cleaner energy sources include gas-fired, hydroelectricity, and other renewable sources. Comments: Intermediate Results Indicators by Components CI-ENERGIES IDA Guarantee IN01136170 ►Billing to collection ratio of public entities (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 80.00 80.20 94.00 92.00 Date 31-Dec-2017 31-Dec-2020 31-Dec-2021 30-Sep-2022 IN01136171 ►Billing to collection ratio of export clients (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 64.00 57.00 185.00 92.00 Date 31-Dec-2017 31-Dec-2020 31-Dec-2021 30-Sep-2022 IN01136172 ►Total electricity losses (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 21.00 17.46 18.80 14.00 Date 31-Dec-2017 31-Dec-2020 31-Dec-2020 30-Sep-2022 Overall Comments IR 5/19/2022 Page 3 of 4 Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) Based on data provided, CI-Energies appears to have recovered (including arrears) more than billed for export clients over the period, which explains the ratio being higher than 100% Data on Financial Performance Guarantee Amount Project Guarantee No. Status Currency Original Revised Cancelled Current Amount P164145 IDA-G2610 Effective EUR 240.00 180.00 60.00 180.00 Guarantee Dates Orig. Guarantee Rev. Guarantee Project Guarantee No Status Approval Date Signing Date Effectiveness Date Expiration Date Expiration Date P164145 IDA-G2610 Effective 29-Jun-2018 29-Apr-2019 21-May-2019 Related Project(s) There are no related projects. 5/19/2022 Page 4 of 4