The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) Public Finance Management Modernization Project 2 (P150381) EUROPE AND CENTRAL ASIA | Tajikistan | Governance Global Practice | IBRD/IDA | Investment Project Financing | FY 2015 | Seq No: 11 | ARCHIVED on 08-Apr-2021 | ISR45435 | Implementing Agencies: Ministry of Finance, Republic of Tajikistan Key Dates Key Project Dates Bank Approval Date: 01-Jun-2015 Effectiveness Date: 10-May-2016 Planned Mid Term Review Date: 01-Oct-2019 Actual Mid-Term Review Date: 04-Oct-2019 Original Closing Date: 30-Jun-2021 Revised Closing Date: 30-Jun-2025 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The development objective of the project is to improve effectiveness, control and accountability of public expenditure of the Republic of Tajikistan. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name 1. Public Finance Management Modernization:(Cost $13.11 M) 2. Improving Public Procurement:(Cost $3.20 M) 3. Strengthening External Audit:(Cost $2.70 M) 4. Managing Public Administration Reforms:(Cost $5.30 M) 5. Project Management:(Cost $2.69 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions Achievement of the Project Development Object remains moderately satisfactory. As reported in the previous ISR, most of the Public Expenditure and Financial Accountability (PEFA) indicators have improved compared to the baseline based on the 2017 PEFA. (There will be no changes to the PEFA indicators until the next PEFA exercise – likely in 2021 - is completed). Some targets are still behind. Beyond the results indicators, there is positive progress in the implementation of public financial management reform, external audit reform and civil service reform. The Treasury System and Public Accounting Reform Roadmap for 2019–2024 and Strategy of Development of the Chamber of Account for 2019-2024 were put in place 4/8/2021 Page 1 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) in 2019, advanced implementation in 2020, and provide solid bases for further PFM reform. Development of the following systems also continue: Tajik Financial Management Information System (TFMIS), Human Resources Management System, and E-Government Portal. Moreover, since the last ISR in June 2020, enhancements to the e-procurement portal has begun and the E-Government Roadmap was approved by the Government. On December 2, 2020, the World Bank’s Board approved US$6 million Additional Financing (AF) for PFMMP II in IDA grant funds. The relevant legal agreements are awaiting countersignature by the Government. Once all legal procedures are completed, the Project Closing Date will also be extended to June 30, 2025. The AF is available to support new activities, including in new PFM areas of internal audit and public investment management, as soon as the legal agreement is signed. For existing activities that received supplemental allocations under the AF, the additional IDA funds can only be accessed once all funds under the current financing are disbursed. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate Moderate Macroeconomic High Moderate Moderate Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Moderate Moderate Moderate Institutional Capacity for Implementation and Moderate Moderate Moderate Sustainability Fiduciary Substantial Moderate Substantial Environment and Social Low Low Low Stakeholders High Moderate Moderate Other -- Moderate Substantial Overall Substantial Moderate Moderate Results PDO Indicators by Objectives / Outcomes Improved effectiveness of PFM IN00951767 ►Improved effectiveness of public expenditure measured by the increased alignment of expenditure with policy priorities (PI-12) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target PEFA 2017 score C There are many (when using PEFA 2011 different development Value PEFA score D for PI-12 PEFA Score B methodology) - strategies (plans, Systematic strategic programs) for different 4/8/2021 Page 2 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) planning not yet sectors. The operational. Approvals comprehensive are pending for - 1) sectoral strategy was strategic planning approved by the manual; 2) 9 templates of Government of the sectoral strategic plans; Republic of Tajikistan 3) the draft new Law “On only in the education Strategic Planning”; 4) sector and this draft Regulation on the Strategy is valid until Department of the 2020. Strategic Planning and Reforms of the EOP RT. In February 2020 after Proposed law on hold. agreement with all interested ministries, the draft Law "On strategic planning and state forecasting of development" was submitted to the Executive Office of the President of the Republic of Tajikistan (EOP RT). After reviewing and based on the conclusion of the Legal Department of the EOP RT, this draft was sent for finalization. At the request of the Component 4 Leader, the legal consultant was hired to finalize this draft law. Currently taking into account the comments and proposals of the Legal Department of the EOP RT, the draft law has been finalized and submitted to the working group for its review. Date 01-Jan-2013 27-May-2020 04-Dec-2020 30-Jun-2025 From baseline PEFA score D for PI-12, PEFA 2017 reports improvement with a score of C (when using Comments: PEFA 2011 methodology). Improved control of public expenditure IN00951768 ►Improved control of public expenditure measured by the stock of expenditure payment arrears (PI-4) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target PEFA 2017 Score of C+ PEFA 2017 Score of PI-4 (using 2011 C+ PI-4 (using 2011 Methodology) - Data on Methodology) - Data Value PEFA score D+ for PI-4 stock of arrears is not on stock of arrears is PEFA Score A published, but is provided not published, but is to external audit, the provided to external Government and the audit, the Government 4/8/2021 Page 3 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) Parliament of Republic of and the Parliament of Tajikistan Republic of Tajikistan Date 01-Jan-2013 27-May-2020 04-Dec-2020 30-Jun-2025 From baseline PEFA scores D for PI-18i and PI-4, PEFA 2017 scores show improvements to C+ Comments: Improved accountability of public expenditure IN00951769 ►Improved accountability of public expenditure measured by the quality of annual financial reports (PI-25) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target The consolidated financial statements of the budget sector was prepared for 2017. The financial statements of the budget sector for 2018 is being prepared in 2019. (b) The Ministry of Finance of the Republic of Tajikistan has developed and approved 10 TPSAS standards, including standards 1, 2, 3, 4, 6, 12, 17, 22, 24 under the implementation of the first phase of the PEFA 2017 Score D+ PFMMP and the first (using 2011 phase of the Methodology) - from introduction of 2018, the 14 approved international standards Value PEFA Score C+ for PI-25 PEFA Score B+ TPSAS standards (of in 2014. Due to the which 4 were developed complexity of under the project) were introduction of being applied since 2018. standards 12 and 17, the introduction of these standards was postponed to the second phase of the introduction of international standards. The Ministry of Finance of the Republic of Tajikistan has developed and approved 4 TPSAS standards, including standards 23, 28, 29 и 30 under the implementation of the second phase of the PFMMP and the second phase of the introduction of 4/8/2021 Page 4 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) international standards in 2017 and they were officially registered in the Ministry of Justice of the Republic of Tajikistan. The technical guides have been developed for each standard. From beginning of 2018, all budget institutions apply all abovementioned standards. Date 01-Jan-2013 27-May-2020 04-Dec-2020 30-Jun-2025 From baseline PEFA score of PI-25i and PI-25iii of B and C, PEFA 2017 scores went down to C and D, Comments: respectively. IN00951770 ►Improved accountability of public expenditures measured by the quality of financial audit (PI-26) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target PEFA 2017 Score C+ (using 2011 Methodology) - Per 2017 PEFA, in 2014-2016, the According to Chamber of Accounts preliminary data of the conducted audits of 70 Chamber of Account of central government RT as of end 2020, the authorities that are the Value PEFA Score D for PI-26 central government PEFA Score B main administrators of entities representing budget funds, which less than 73% of total accounts for 54% of their expenditures were total number. Together covered by audits. those organizations represent about 55% of the total budget revenue and expenditure. Date 01-Jan-2013 27-May-2020 04-Dec-2020 30-Jun-2025 According to the results of PEFA 2017 the central government entities representing less than 50% of total expenditures were covered by audits. Comments: From baseline PEFA score D for PI-26, PEFA 2017 score shows improvement to C+. Intermediate Results Indicators by Components 1. Public Finance Management Modernization IN00951771 ►Additional functionalities (modules) of TFMIS (commitment control, cash management, payment order processing, assets management and payroll management) installed and operational (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target none of the 5 modules The bank payment all 5 modules are Value 2 modules operational are operational management module operational (2024) 4/8/2021 Page 5 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) has been implemented since 2017. Cash management, liability management and asset management modules have been developed. Currently, the final testing and training of the employees of the Ministry of Finance of the Republic of Tajikistan and the central-level MABAs are being conducted. The Ministry of Finance has made a decision on the phased introduction of these modules. From 2021, these modules will be launched for at least 10 MABAs. It is planned to connect all the central- level MABAs to these modules by the end of 2021, and to connect all the local-level MABAs within 2022- 2023. The human resource management module has been developed and it is planned to launch it from 2021 for organizations having civil servants in their staff. Date 01-Jan-2015 27-May-2020 04-Dec-2020 31-Dec-2024 The 5-year Treasury Development Plan was approved by the decision of the 3rd PFM Coordination Council dated August 11, 2015 No. 1/3, which determines the introduction of all necessary modules of the Tajik Fiscal Management Infromation System (TFMIS). The Ministry of Finance of the Republic of Tajikistan under the support of the State Unitary Enterprise “IFOSC”, has developed independently a bank Comments: payment management module and implemented it from January 1, 2017. On July 2018, MoF signed a contract with consulting company to assist with implementation of commitment control, cash management and assets management modules.Currently, the modules are being tested and will be implemented from January 1, 2021. IN00951776 ►Timeliness of annual financial reports (PI-25ii) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value PEFA Score B PEFA 2017 Score: PI- The financial reporting PEFA Score A 25ii = A (using 2011 on a cash basis in methodology); End-target accordance with achieved budget classification is submitted to the Government of the 4/8/2021 Page 6 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) Republic of Tajikistan, the Parliament of the Republic of Tajikistan and the External Audit (Chamber of Accounts of the Republic of Tajikistan) within 6 months of the end of the fiscal year. The financial reporting on an accrual basis in accordance with TPSAS is formed, however a transition period to 2020 is determined by the Public Sector Accounting Strategy in which the formed financial reporting on an accrual basis is trial and is not submitted to external audit. (b) A roadmap has been developed for the application of TPSFRS for the period of 2019- 2024. Date 01-Jan-2015 27-May-2020 04-Dec-2020 30-Jun-2025 The financial reporting on a cash basis in accordance with budget classification is submitted to the Government of the Republic of Tajikistan within 6 months of the end of the fiscal year, to the Parliament of the Republic of Tajikistan and to the External Audit (Chamber of Accounts of the Republic of Tajikistan) within 7 months of the end of the fiscal year. The indicated terms of submission of reporting are set by the Law on the Public Finance. The financial reporting on an accrual basis in accordance with Tajik Public Sector Accounting Standards Comments: (TPSAS) is established, however 2020 has been designated as a transition year by the Public Sector Accounting Strategy, and therefore the accrual basis financial reporting will not be submitted for external audit. From baseline PEFA score of B for PI-25ii, PEFA 2017 shows improvement with score of A. IN00951781 ►Audits performed and audited financial statements submitted by largest SOEs (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value less than 30% less than 30% less than 30% 80% Date 30-Sep-2019 30-Jun-2020 04-Dec-2020 31-Dec-2024 IN00951783 ►SOE performance monitoring systematically conducted (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Consistent monitoring of SOE performance Value none no system in place no system in place using system developed under the Project 4/8/2021 Page 7 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) Date 30-Jun-2020 30-Jun-2020 04-Dec-2020 31-Dec-2024 IN00951784 ►Internal audits coverage is increased and quality of internal audit function is risk-based and complies with international standards (PI-21i) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value PEFA 2017 Score C PEFA 2017 Score C PEFA 2017 Score C PEFA Score B Date 30-Jun-2020 30-Jun-2020 04-Dec-2020 30-Jun-2025 IN00951785 ►PIM methodology is applied in ministries covering economic analysis of investment proposals, project selection, costing and monitoring. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 3 pilots conducted using the PIM No methodology in Value No methodology in place No methodology in place methodology place developed by the Project Date 30-Jun-2020 30-Jun-2020 04-Dec-2020 31-Dec-2024 2. Improving Public Procurement IN00951772 ►Key procurement information is made available to the public in a timely manner through appropriate means (PI-19iii) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target In 2017 the Agency on Public Procurement of Goods, Works and Services under the Government of the Republic of Tajikistan under the support of the World Bank has modernized the e- procurement portal of the Republic of Tajikistan, including PEFA 2017 Score: PI- the creation of a 19iii = B (using 2011 bidding module with methodology) and 100% unlimited and limited Value PEFA Score B of the accredited PEFA Score A participation, procuring entities improvement of the covered by the annual electronic request for procurement report. quotations module and improvement of information sections of the web portal of public procurement, other functional capabilities and a subsystem for differentiating the user rights to information resources of the information system. 4/8/2021 Page 8 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) The mechanisms and interfaces are implemented in the electronic procurement information system in accordance with OCDS (open contracting data standard). Currently, the procurement procedures are carried out through the Unified Public Procurement Portal, the reports are generated on the portal automatically, all procuring entities are covered by annual procurement reports, the data of which are published on the portal. Since all accredited procuring entities (APE) conduct procurements through the Unified Public Procurement Portal, 100% of the APE are covered by annual procurement reports. Date 01-Jan-2015 27-May-2020 04-Dec-2020 30-Jun-2025 The Public Procurement Agency forms the annual procurement report. According to 2017 report, the number of accredited procuring entities covered by the report was 72% of total. Currently, the report is not published. It is expected that at the end of 2020, the report will be published on the public procurement portal. According to the Agency's information, on 9 months of 2018, 100% of the accredited procuring Comments: entities were covered by the report. From baseline PEFA score of B for PI-19iii, PEFA 2017 shows no change. IN00951777 ►Total value of contracts that were awarded through an open and competitive process (PI-19ii) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target In 2019, the Agency on Public Procurement PEFA 2017 Score for PI- of Goods, Works and 19ii = A; achieved - Services under the According to the Government of the Agency's report for 2019, Republic of Tajikistan 92.4% of the purchases has conducted 1200 awarded under the open tender procedures, 68 and competitive of which were Value PEFA Score C procurement process, PEFA Score B procurements from a 7.6% are the purchased single source, which on single sourcing basis. are not an open When contracts are competition. All other awarded by method other procurements are than open competition, conducted in an open they are justified by and competitive legislation. process which ratio is 94.33%. 4/8/2021 Page 9 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) Date 01-Jan-2015 27-May-2020 04-Dec-2020 30-Jun-2025 The Agency on Public Procurement of Goods, Works and Services under the Government of the Republic of Tajikistan has made a report on awarded contracts under the open and competitive procurement process in 2017. According to the report and as reported previously, 94.11% of contracts were awarded under the open and competitive process. Comments: According to the Agency's report for 2019 (as currently reported), 92.4% of the purchases awarded under the open and competitive procurement process, 7.6% are the purchases from one source. From baseline PEFA score of C for PI-19, PEFA 2017 shows improvement with score of B. 3. Strengthening External Audit IN00951773 ►Evidence of follow up on audit recommendations (in percent of audit recommendations) (PI-26iii) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target PEFA 2017 Score: PI- 26iii = A (using 2011 methodology) - Achieved Chamber of Accounts has audited 344 (state According to bodies - the state budget) preliminary data of the for 2019 and 130 audit Chamber of Account of recommendations The RT as of end 2020, the were submitted. Value PEFA Score D accomplishment of PEFA Score B According to the audit preliminary data, the recommendations is implementation of evaluated at the level recommendations makes of 87%. more than 40% of the total number of recommendations submitted to the audited organizations in 2019. Date 01-Jul-2015 27-May-2020 04-Dec-2020 30-Jun-2025 Accomplished. Accomplished PEFA indicator. Chamber of Accounts has audited 344 (state bodies - the state budget) for 2019 and 130 audit recommendations Th According to the preliminary data, the implementation of recommendations makes more than 40% of the total numbe submitted to the audited organizations in 2019. Comments: From baseline PEFA score of D for PI-26iii, PEFA 2017 shows improvement with score of A. IN00951778 ►Coverage of external audit (in percent of total expenditure) (PI-26i) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target PEFA 2017 Score for PI- According to 26I = C (using 2011 preliminary data of the Value PEFA Score D PEFA Score B methodology) - Per 2017 Chamber of Account of PEFA, Chamber of RT as of end 2020, the 4/8/2021 Page 10 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) Accounts conducted central government audits of 70 central entities representing government authorities less than 73% of total that are the main expenditures were administrators of budget covered by audits. funds, which accounts for 54% of their total number. Together those organizations represent about 55% of the total budget revenue and expenditure. Date 01-Jan-2015 27-May-2020 04-Dec-2020 30-Jun-2025 According to the results of PEFA 2017 the central government entities representing less than 50% of total expenditures were covered by audits. Comments: From PEFA baseline score of D for PI-26i, PEFA 2017 shows improvement with score of C. 4. Managing Public Administration Reforms IN00951774 ►The number of services available through e-Governance system (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Softline-IT Company has developed all 8 e- Government Modules and 3 e-Document flow Modules in the EOP RT. All employees of the EOP RT were trained on working with these Modules. In October 2020 training was conducted for the employees of the ICT Center and the No strategy and no No services available on Department of 2 services available on Value services available on e- e-Gov system Records Management e-gov system gov system and Control of the EOP RT. All Modules are being tested by the staff of the ICT Center. It is planned to launch Module 9 (electronic document flow) in test mode from January 2021. Also the list of 5 electronic public services has been determined, which will be put into operation in test mode. Date 01-Jan-2015 27-May-2020 04-Dec-2020 30-Jun-2025 The e-government roadmap was developed by an international consultant. This document is under consideration in the EOP RT for further approval. The electronic address of citizens is functioning through Comments: the official website president.tj, electronic visa through the website e-visa.tj, electronic tax reporting through andoz.tj, internet banking of the banking sector, electronic public procurement through 4/8/2021 Page 11 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) zakupki.gov.tj, electronic request and SMS informing about fines of the traffic police through the Shakhri bekhatar system, an electronic diary in some educational institutions, electronic notification about the results of testing of applicants through the website ntc.tj, the legal information bank of the Republic of Tajikistan www.adlia.tj, payment of salaries and related taxes of BO, through Internet banking through FMIS etc. But since the above e-services were implemented out of project funds, the actual number of e- services implemented from the project funds is zero. IN00951779 ►Timeliness of changes to personnel records and the payroll (months) (PI-18ii) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target PEFA 2017 PI1-18ii PEFA 2017 PI1-18ii score = B, no change score = B, no change Value PEFA Score B PEFA Score A from baseline (using from baseline (using 2011 methodology) 2011 methodology) Date 01-Jan-2013 27-May-2020 04-Dec-2020 30-Jun-2025 All changes in personnel are taken into account by the personnel service. All changes upon their accomplishment are sent to the accounting department. Accounting department every month, when calculating salaries takes into account all changes in staff in a mandatory manner. At the moment, all these operations are carried out manually and in hard copy. Some public institutions have special Comments: software for personnel accounting, payroll accounting and payment. Since June 2019, work has been underway to develop and implement HRMIS. Currently all 9 planned HRMIS modules have been developed. The modules are being tested in five government agencies. 5. Project Management IN00951775 ►Project supported NGO publishing reports on feedback received and how this feedback has been used. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 01-Sep-2015 27-May-2020 04-Dec-2020 30-Jun-2025 The feedback received shows that part of system users are not properly informed on new PFM systems. Comments: To achieve final target, the project is extending a public awareness campaign on new PFM systems. IN00951780 ►Beneficiaries satisfied with systems and procedures implemented by the Project, as measured by user satisfaction surveys (percent of users surveyed) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 29.00 60.00 Date 01-Sep-2015 27-May-2020 10-Mar-2021 31-Dec-2024 Aimed at monitoring the number of users satisfied with IT systems and procedures implemented by the Project, the survey monitors satisfaction with TFMIS, e-procurement and e-government information systems. The consulting company submitted intermediate report on results of field survey which indicates on average 29% level of satisfaction from users with the IT systems and procedures implemented by the Comments: Project. Specifically, 37% of user-respondents are satisfied with the operation of the TFMIS system, 20% of user-respondents are completely satisfied with the e-Procurement system, 30% of user-respondents are completely satisfied with the received electronic service available from Government. The consultant report also provides specific recommendations on how to increase user-satisfaction for each of the systems. The assignment is in progress with final results expected by end March 2021. Four regions and 4/8/2021 Page 12 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) Dushanbe are covered by the survey. The target group includes civil servants, suppliers of works and goods. There are 760 respondents. IN00951782 Percent of women beneficiaries satisfied with systems and procedures implemented by the Project, as measured by user satisfaction surveys (Percentage, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 49.00 30.00 Date 01-Sep-2015 27-May-2020 10-Mar-2021 31-Dec-2024 Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P150381 IDA-56310 Effective USD 5.50 5.50 0.00 0.00 5.84 0% P150381 IDA-D0550 Effective USD 4.50 4.50 0.00 4.42 0.05 99% Not P150381 IDA-D7500 USD 6.00 6.00 0.00 0.00 6.18 0% Effective P150381 TF-A1735 Effective USD 9.77 9.66 0.11 6.29 3.37 65% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P150381 IDA-56310 Effective 01-Jun-2015 17-Feb-2016 10-May-2016 30-Jun-2021 30-Jun-2021 P150381 IDA-D0550 Effective 01-Jun-2015 17-Feb-2016 10-May-2016 30-Jun-2021 30-Jun-2021 Not P150381 IDA-D7500 02-Dec-2020 -- -- 30-Jun-2025 30-Jun-2025 Effective P150381 TF-A1735 Effective 17-Feb-2016 17-Feb-2016 10-May-2016 30-Jun-2021 30-Jun-2021 Cumulative Disbursements 4/8/2021 Page 13 of 14 The World Bank Implementation Status & Results Report Public Finance Management Modernization Project 2 (P150381) PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC Restructuring History Level 2 Approved on 02-Jun-2020 Related Project(s) P172924-Additional Financing for Public Finance Management Modernization Project 2 4/8/2021 Page 14 of 14