The World Bank Report No: ISR12367 Implementation Status & Results Turkey Competitiveness and Savings Development Policy Loan (CSDPL) (P127787) Public Disclosure Copy Project Name: Competitiveness and Savings Development Policy Loan Program Stage: Implementation Seq.No: 1 Status: ARCHIVED Archive Date: 05-Nov-2013 (CSDPL) (P127787) Country: Turkey Approval FY: 2013 Product Line: IBRD/IDA Region: EUROPE AND CENTRAL ASIA Lending Instrument: Development Policy Lending Implementing Agency(ies): Key Dates Board Approval Date 06-Jun-2013 Original Closing Date 30-Jun-2014 Planned Mid Term Review Date Last Archived ISR Date Effectiveness Date 16-Jul-2013 Revised Closing Date 30-Jun-2014 Actual Mid Term Review Date Program Development Objectives Program Development Objective (from Program Document) The objective of the program supported by this operation is to facilitate Turkey’s growth to high-income status by bolstering competitiveness and boosting domestic savings, thus reducing external vulnerabilities over the medium term. 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 Satisfactory Overall Implementation Progress (IP) Satisfactory Implementation Status Overview The loan was fully disbursed on July 25, 2013 and closed in the system. Public Disclosure Copy Results Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Ease of Doing Business Shareholder Suits and Percentage Value 4.00 5.00 Extent of Director Liability sub-indices Date 31-Dec-2012 31-Dec-2013 increases Comments Annual Value Latest available value is 2012. Annual Value Page 1 of 3 The World Bank Report No: ISR12367 The number of firms completing statutory Number Value 700.00 1400.00 independent audits increases Date 31-Dec-2012 31-Dec-2013 Comments Annual Value Latest available value is 2012. Annual Value Public Disclosure Copy Cost of contract enforcement as measured by Percentage Value 28.00 25.00 attorney and court fees as a share of debt Date 31-Dec-2011 31-Dec-2013 value falls Comments Annual Value Latest available value is 2012. Annual Value The recovery rate for audits (the ratio of Percentage Value 6.00 7.00 employees identified as unregistered to the Date 31-Dec-2012 31-Dec-2013 total number of employees in the workplace Comments Annual Value Latest available value is 2012. Annual Value audited) increases Early exit rates from the pension scheme in the Percentage Value 21.00 19.00 first three years of contract decline Date 31-Dec-2012 31-Dec-2013 Comments Annual Value Latest available value is 2012. Annual Value The issuance of corporate bonds increases Text Value 27 billion Turkish Lira 35 billion Turkish Lira Date 30-Nov-2012 31-Dec-2013 Comments Latest available value is 2012. Leasing penetration rate increases Percentage Value 4.70 5.50 Date 31-Dec-2011 31-Dec-2013 Comments Annual Value Latest available value is 2012. Annual Value Data on Financial Performance (as of 25-Jul-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P127787 IBRD-82640 Effective 06-Jun-2013 07-Jun-2013 16-Jul-2013 30-Jun-2014 30-Jun-2014 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed Public Disclosure Copy P127787 IBRD-82640 Effective USD 800.00 800.00 0.00 823.56 0.00 103.00 Tranches Tranche 1 Amount (USD) Expected Release Date Actual Release Date Status Page 2 of 3 The World Bank Report No: ISR12367 0 Pending Released Key Decisions Regarding Implementation Public Disclosure Copy None. Restructuring History There has been no restructuring to date. Related Operations P127787-Competitiveness and Savings Development Policy Loan (CSDPL) Public Disclosure Copy Page 3 of 3