Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) Competitiveness for Tourism Development (P146666) AFRICA | Cabo Verde | Trade & Competitiveness Global Practice | IBRD/IDA | Investment Project Financing | FY 2016 | Seq No: 3 | ARCHIVED on 05-Dec-2017 | ISR29223 | Implementing Agencies: Ministry of Economy and Employment, Cabo Verde TradeInvest Key Dates Key Project Dates Bank Approval Date:10-May-2016 Effectiveness Date:15-Nov-2016 Planned Mid Term Review Date:15-Nov-2018 Actual Mid-Term Review Date:-- Original Closing Date:31-May-2021 Revised Closing Date:31-May-2021 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to create the conditions necessary to increase investment into and diversification of the tourism sector. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component 1: Enhancing governance framework of the tourism sector:(Cost $2.27 M) Component 2: Diversify tourism sector and increase inclusiveness of tourism-led growth by strengthening the competitiveness of local MSMEs:(Cost $2.24 M) Component 3: Project implementation:(Cost $0.49 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Moderate  Moderate Implementation Status and Key Decisions 12/5/2017 Page 1 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) The overall progress on implementation remains satisfactory, despite delays caused by changes to Government structure and implementing agencies following the establishment of a new Government in Cabo Verde. In addition, the change in institutional oversight of UGPE may require amending the financing agreement. 12/5/2017 Page 2 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Moderate  Moderate  Moderate Macroeconomic  Substantial  Substantial  Substantial Sector Strategies and Policies  Moderate  Moderate  Moderate Technical Design of Project or Program  Moderate  Moderate  Moderate Institutional Capacity for Implementation and Sustainability  Moderate  Moderate  Moderate Fiduciary  Moderate  Moderate  Moderate Environment and Social  Moderate  Moderate  Moderate Stakeholders  Moderate  Moderate  Moderate Other  --  --  -- Overall  Moderate  Moderate  Moderate Results Project Development Objective Indicators 12/5/2017 Page 3 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) PHINDPDOTBL  Increased investment generated (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 35.00 Date 10-May-2016 09-Feb-2017 09-Aug-2017 01-Mar-2021 PHINDPDOTBL  Increased bed nights at beneficiary small accommodation establishments (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 18.00 Date 10-May-2016 09-Feb-2017 09-Aug-2017 01-Mar-2021 Overall Comments Intermediate Results Indicators PHINDIRITBL  Start-up of operations of the joint tourism and investment promotion agency (CI-ATIC) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 10-May-2016 -- 09-Aug-2017 01-Mar-2021 12/5/2017 Page 4 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) PHINDIRITBL  Beneficiaries of the small accommodation quality label that feel project investments reflected their needs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 75.00 Date 10-May-2016 -- 09-Aug-2017 01-Mar-2021 PHINDIRITBL  Development of a national tourism strategy (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 10-May-2016 09-Feb-2017 09-Aug-2017 01-Mar-2021 PHINDIRITBL  Implementation of a formal investor outreach program (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 10-May-2016 09-Feb-2017 09-Aug-2017 01-Mar-2021 PHINDIRITBL  Implementation of a formal investor facilitation program (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 10-May-2016 09-Feb-2017 09-Aug-2017 01-Mar-2021 12/5/2017 Page 5 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) PHINDIRITBL  Establishment of a moveable collateral registry (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 10-May-2016 09-Feb-2017 09-Aug-2017 01-Mar-2021 PHINDIRITBL  Number of investor leads receiving improved investment promotion services in the tourism sector (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 18.00 Date 10-May-2016 09-Feb-2017 09-Aug-2017 01-Mar-2021 PHINDIRITBL  Number of MSME representatives trained by private sector organizations (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 100.00 Date 10-May-2016 -- 09-Aug-2017 01-Mar-2021 PHINDIRITBL  Of which women (%) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 35.00 Overall Comments 12/5/2017 Page 6 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P146666 IDA-58010 Effective USD 5.00 5.00 0.00 0.40 4.87 8% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P146666 IDA-58010 Effective 10-May-2016 17-Jun-2016 15-Nov-2016 31-May-2021 31-May-2021 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) 12/5/2017 Page 7 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Competitiveness for Tourism Development (P146666) There are no related projects. 12/5/2017 Page 8 of 8 Public Disclosure Copy