The World Bank Report No: ISR1517 Implementation Status & Results Armenia Public Disclosure Copy Armenia DPO-1 (P115626) Project Name: Armenia DPO-1 (P115626) Program Stage: Implementation Seq.No: 1 Status: DRAFT Last Modified Date: 04-Jul-2010 Country: Armenia Approval FY: 2010 Product Line: IBRD/IDA Region: EUROPE AND CENTRAL ASIA Lending Instrument: Development Policy Lending Implementing Agency(ies): Ministry of Finance Key Dates Board Approval Date 02-Jul-2009 Original Closing Date 01-Dec-2009 Planned Mid Term Review Date Last Archived ISR Date Effectiveness Date 05-Oct-2009 Revised Closing Date 01-Dec-2009 Actual Mid Term Review Date Program Development Objectives Program Development Objective (from Program Document) Has the Program Development Objective been changed since Board Approval of the Program? Yes No Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Highly Satisfactory Overall Implementation Progress (IP) Highly Satisfactory Implementation Status Overview Public Disclosure Copy Results Results Indicators Page 1 of 5 The World Bank Report No: ISR1517 Indicator Baseline Current End Target Public Disclosure Copy Indicator Name Value Value Value Social protection and pension spending 24.80 31.10 24.80 Date Date Date 31-Dec-2008 30-Sep-2010 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Percentage Indicator Baseline Current End Target Indicator Name Value Value Value Utilization of health services by the poor 16.00 20.00 Date Date Date 30-Jun-2008 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Percentage Indicator Baseline Current End Target Indicator Name Value Value Value Cost of Starting a Business (percent of per capita income) 3.60 3.10 2.00 Date Date Date 31-Dec-2008 31-Dec-2010 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Percentage Indicator Baseline Current End Target Indicator Name Value Value Value Time required to open a business 18.00 15.00 3.00 Public Disclosure Copy Type Unit of Measure Sub-Type Custom Indicator Number Supplemental Page 2 of 5 The World Bank Report No: ISR1517 Indicator Baseline Current End Target Public Disclosure Copy Indicator Name Value Value Value Monthly cost of internet connection 98.00 90.00 49.00 Date Date Date 31-Dec-2008 31-Dec-2010 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Amount(USD) Indicator Baseline Current End Target Indicator Name Value Value Value Number of general exploration licenses issued for metallic minerals 1.00 4.00 6.00 Date Date Date 31-Dec-2008 31-Dec-2010 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Number Indicator Baseline Current End Target Indicator Name Value Value Value #Paying taxes# (according to the Doing Business) Number of 50.00 50.00 30.00 payments per year Date Date Date 31-Dec-2008 31-Dec-2010 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Number Indicator Baseline Current End Target Indicator Name Value Value Value Time spend in paying taxes 958.00 581.00 500.00 Public Disclosure Copy Type Unit of Measure Sub-Type Custom Indicator Number Supplemental Page 3 of 5 The World Bank Report No: ISR1517 Indicator Baseline Current End Target Public Disclosure Copy Indicator Name Value Value Value Number of electronically filed returns (% of total returns) 0.00 15.00 50.00 Date Date Date 31-Dec-2008 31-Dec-2010 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Percentage Indicator Baseline Current End Target Indicator Name Value Value Value Logistic Performance Index 2.14 2.52 2.59 Date Date Date 31-Dec-2008 31-Dec-2010 31-Dec-2012 Type Unit of Measure Comment Comment Comment Custom Indicator Number Data on Financial Performance (as of 10-Dec-2009) Financial Agreement(s) Key Dates Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date P115626 IDA-46220 Closed 02-Jul-2009 07-Jul-2009 05-Oct-2009 01-Dec-2009 Disbursements (in Millions) Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P115626 IDA-46220 Closed XDR 40.40 40.40 0.00 40.40 0.00 100.00 Tranches Public Disclosure Copy Tranche 1 Description Single tranche Amount (USD) Expected Release Date Actual Release Date Status 60 30-Jul-2009 15-Oct-2009 Pending Released Tranche Condition Description Status If Not Met If Delayed Increase funding for social safety net programs, including Family Benefits (FB) and Met pensions in the 2009 budget law (relative to 2008), increase funding for unemployment Not Met insurance (based on actual numbers of unemployed), and protect from any reductions Page 4 of 5 The World Bank Report No: ISR1517 Restore funding for selected priority programs for the poor and vulnerable in health, Met education, and agriculture in accordance withthe original 2009 budget Not Met Public Disclosure Copy Undertake a review of FB program beneficiaries and exclude non-eligible households to Met improve targeting efficiency, and use FB budget savings to expand program coverage of Not Met the poor Strengthen banking sector surveillance and liquidity by undertaking frequent banking Met system stress tests and introducing enhanced reporting requirements, and making available Not Met liquidity to banks on a temporary basis through accepting a wider range of collateral Reduce costs of business registration by removing: minimum capital requirement, seal Met requirement, and charter approval Not Met Adopt an action plan with a timeline and key performance indicators for priority State Met Revenue Committee reforms, and commit to adequate funding from 2009-2011 Not Met Prepare and publish official PEFA assessment to serve as a baseline for future reforms Met Not Met Submit to the National Assembly the Law on the Public Service, including conflict of interest Met provisions necessary to ensure the framework for further implementation Not Met Key Decisions Regarding Implementation Restructuring History There has been no restructuring to date. Related Operations P115626-Armenia DPO-1, P116451-Second Development Policy Operation, P117689-Armenia DPO - 2, P122195-Third Development Policy Operation Public Disclosure Copy Page 5 of 5