The World Bank Report No: ISR7065 Implementation Status & Results Africa Financial Sector Development & Regionalization Project I (FSDRP I) (P121611) Public Disclosure Copy Operation Name: Financial Sector Development & Regionalization Project I Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 19-Jul-2012 (FSDRP I) (P121611) Country: Africa Approval FY: 2011 Product Line: IBRD/IDA Region: AFRICA Lending Instrument: Technical Assistance Loan Implementing Agency(ies): Key Dates Board Approval Date 31-Jan-2011 Original Closing Date 30-Mar-2014 Planned Mid Term Review Date 30-Nov-2012 Last Archived ISR Date 04-Nov-2011 Effectiveness Date 20-Jun-2011 Revised Closing Date 30-Mar-2014 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) To establish the foundation for financial sector integration among EAC Partner States. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Financial inclusion and strengthening of market participants 1.23 Harmonization of financial laws and regulations 2.03 Mutual recognition of supervisory agencies 2.26 Integration of market infrastructure 2.19 Development of regional bond market 0.31 Public Disclosure Copy Capacity building 7.59 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Implementation Status Overview The project was approved by the board on January 31, signed on February 14. The project met all effectiveness conditions and became effective on June 20, 2011. Page 1 of 4 The World Bank Report No: ISR7065 Locations No Location data has been entered Public Disclosure Copy Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Number of EAC financial sector Bills submitted Number Value 0.00 0.00 11.00 to the EALA by the Council of Ministers. Date 30-Dec-2010 25-May-2012 30-Mar-2014 Comments Volume of cross border payment transactions Amount(USD) Value 44600000.00 59600000.00 Date 30-Dec-2010 25-May-2012 30-Mar-2014 Comments NA Number of direct project beneficiaries Number Value 80000000.00 86000000.00 Date 30-Dec-2010 25-May-2012 30-Mar-2014 Comments NA Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Comp 1: Number of regional action plans to Number Value 0.00 0.00 4.00 incrase access to finance in the EAC Date 30-Dec-2010 25-May-2012 30-Mar-2014 developed and acted upon Comments Comp 2: Number of bills produced and Number Value 0.00 0.00 submitted to the Council of Ministers Date 30-Dec-2010 25-May-2012 30-Mar-2014 Comments Comp 2: Number of bills produced and Number Value submitted to the Council of Ministers Date Public Disclosure Copy Comments Comp 4: Number of EAC Partner States with Number Value 3.00 5.00 inter-operable RTGS Date Comments Comp 5: Total volume of national bonds issued Amount(USD) Value 7900000.00 10900000.00 in the regions by the five Partner States Date 30-Dec-2010 25-May-2012 30-Mar-2014 Comments NA Page 2 of 4 The World Bank Report No: ISR7065 Comp 6: Number of staffs recruited and trained Number Value 0.00 9.00 18.00 at the DFRP at EAC Date 30-Dec-2010 25-May-2012 30-Mar-2014 Comments Public Disclosure Copy Data on Financial Performance (as of 25-Jun-2012) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P121611 IDA-H6410 Effective 31-Jan-2011 14-Feb-2011 20-Jun-2011 30-Mar-2014 30-Mar-2014 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P121611 IDA-H6410 Effective XDR 10.50 10.50 0.00 1.17 9.33 11.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation The information in this ISR was discussed with the authorities during the implementation support mission for this project held between May 23 - 25, 2012. The attached executive summary provides additional details on these issues. A related Aide Memoire from the mission is currently being finalized. Restructuring History Page 3 of 4 The World Bank Report No: ISR7065 There has been no restructuring to date. Related Projects Public Disclosure Copy There are no related projects. Public Disclosure Copy Page 4 of 4