Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) AFRICA WEST | Cote d'Ivoire | Energy & Extractives Global Practice | Guarantees | Investment Project Financing | FY 2018 | Seq No: 4 | ARCHIVED on 04-Jun-2021 | ISR46760 | Implementing Agencies: Government of Cote d'Ivoire, CI-Energies Key Dates Key Project Dates Bank Approval Date: 29-Jun-2018 Effectiveness Date: 21-May-2019 Original Closing Date: 30-Sep-2022 Revised Closing Date: 30-Sep-2022 Guarantee Expiration Date: : Guarantee Information GU INFO TBL Coverage: [✓] Loan Guarantee [ ] Payment guarantee Type of Implementing entity: Public Guarantee beneficiary: Guaranteed Lender (Deutsche Bank) Guarantee Fees UpFront pdoTable Project Development Objectives Project Development Objective The proposed development objective is to improve the electricity sector s financial performance by refinancing the short-term liabilities of CI- ENERGIES. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO €Satisfactory €Satisfactory Overall Implementation Progress (IP) €Satisfactory €Satisfactory Overall Risk Rating -- €Substantial Implementation Status and Key Decisions This ISR covers the CI-Energies Guarantee Project (P164145) approved on June 29, 2018, and effective since May 21, 2019. 6/4/2021 Page 1 of 4 Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) The operation is structured in two tranches: a local currency XOF tranche and a foreign currency EURO tranche. The local currency tranche was raised from two local commercial banks for a total of XOF 95 billion (EUR 144 million equivalent) and does not benefit from an IDA guarantee. The foreign currency tranche was disbursed by Deutsche Bank in May 2019 for EUR 300 million, with EUR 180 million covered by the IDA Guarantee. The Bank is monitoring the operation through the quarterly financial statements sent by CI-Energies (the last one being for the 1st quarter of 2021). The COVID-19 situation has not impacted the demand for electricity and financial situation in Cote d'Ivoire as much as in other countries. However, the sector is currently facing a shortfall of generation (about 200 MW) which has a serious impact domestically and in importing countries like Mali. The Bank will keep monitoring closely the impact of the crisis, and measures put in place to address it, on the power sector financial situation. Key Government Actions / Commitments Action Description Status Guarantee Conditions Precedent Description Status Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- -- €Substantial Macroeconomic -- -- €Moderate Sector Strategies and Policies -- -- €Substantial Technical Design of Project or Program -- -- €Low Institutional Capacity for Implementation and -- -- €Moderate Sustainability Stakeholders -- -- €Low Other -- -- €Low Overall -- -- €Substantial Results PDO Indicators by Objectives / Outcomes Improve the electricity sectors’ financial performance and its ability to attract clean investments IN00994457 ►Private capital mobilized (EUR million) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 445.00 400.00 Date 31-Dec-2017 -- 30-Sep-2020 30-Sep-2022 IN00994458 ►Debt service coverage (ratio) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 6/4/2021 Page 2 of 4 Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) Value 0.00 -- 2.13 1.10 Date 31-Dec-2017 -- 30-Sep-2020 30-Sep-2022 IN00994459 ►Category B costs coverage (ratio) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.03 -- 1.04 1.10 Date 31-Dec-2017 -- 30-Sep-2020 30-Sep-2022 IN00994460 ►EBITDA (CFAF) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 9.80 -- 76.80 109.00 Date 31-Dec-2017 -- 31-Dec-2019 30-Sep-2022 IN00994666 ►Capital indirectly leveraged from private sector investments in electricity generation from cleaner energy sources (US$, million) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 629.00 800.00 Date 31-Dec-2017 -- 15-May-2021 30-Sep-2022 Cleaner energy sources include gas-fired, hydroelectricity, and other renewable sources. Comments: Intermediate Results Indicators by Components CI-ENERGIES IDA Guarantee IN00994675 ►Billing to collection ratio of public entities (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 80.00 -- 80.20 92.00 Date 31-Dec-2017 -- 31-Dec-2020 30-Sep-2022 IN00994831 ►Billing to collection ratio of export clients (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 64.00 -- 57.00 92.00 Date 31-Dec-2017 -- 31-Dec-2020 30-Sep-2022 IN00994832 ►Total electricity losses (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 21.00 -- 17.46 14.00 Date 31-Dec-2017 -- 31-Dec-2020 30-Sep-2022 6/4/2021 Page 3 of 4 Public Disclosure Copy The World Bank Implementation Status & Results Report Cote d'Ivoire: CI-ENERGIES Guarantee Project (P164145) Data on Financial Performance Guarantee Amount Project Guarantee No. Status Currency Original Revised Cancelled Current Amount P164145 IDA-G2610 Effective EUR 240.00 180.00 60.00 180.00 Guarantee Dates Orig. Guarantee Rev. Guarantee Project Guarantee No Status Approval Date Signing Date Effectiveness Date Expiration Date Expiration Date P164145 IDA-G2610 Effective 29-Jun-2018 29-Apr-2019 21-May-2019 Related Project(s) There are no related projects. 6/4/2021 Page 4 of 4