Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) Djibouti: Governance for Private Sector Development and Finance Project (P146250) MIDDLE EAST AND NORTH AFRICA | Djibouti | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2014 | Seq No: 7 | ARCHIVED on 17-Jan-2018 | ISR27668 | Implementing Agencies: Min of Finance, Agence National de Promotion des Investissements (ANPI), ANPI Key Dates Key Project Dates Bank Approval Date:23-Jun-2014 Effectiveness Date:12-Mar-2015 Planned Mid Term Review Date:08-Mar-2018 Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2019 Revised Closing Date:31-Dec-2020 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to help improve Djibouti's business environment. Has the Project Development Objective been changed since Board Approval of the Project Objective? Yes Board Approved Revised Project Development Objective (If project is formally restructured)PHRPDODEL To improve the efficiency of business regulation and establish an automated National Payment System. Components Name Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Satisfactory  Moderately Unsatisfactory Overall Implementation Progress (IP)  Moderately Satisfactory  Moderately Unsatisfactory Overall Risk Rating  Substantial  Substantial Implementation Status and Key Decisions Overall, implementation performance is moderately unsatisfactory with a 26% disbursement rate at the end of November 2017. Reforms are ongoing in several areas of the DB report including (i) business creation; (ii) construction permit; (iii) getting credit; (iv) protecting minority investors; (v) registering 1/17/2018 Page 1 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) property; (vi) access to electricity; (vii) enforcing contracts. More reforms are expected to be adopted in the current context of strong Government's commitment to improve the investment climate spearheaded by the Economic Development Council of Djibouti (CDED). Action plans to improve the Doing Business indicators have been prepared for each indicator and dedicated task force have been established to implement the action plans. A more detailed implementation plan will help monitor progress towards results. On the WBG side, the team has stepped up its support (stronger team with one senior international consultant who is providing support to the DB agenda; one local consultant recruited; a lawyer/consultant with experience working on legal aspects of DB; strong and active involvement of the CMU; and WBG Investment Climate reform program to provide more TA under preparation). The Government has taken concrete steps towards the establishment of the National Payment System – including the recruitment of a technical assistant, stakeholder consultations with various public and private entities, and beginning the identification of the primary and secondary sites for the data centers for the system. More steps in the area of procurement and capacity-building are expected in the short-term. 1/17/2018 Page 2 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  High  High Macroeconomic  --  Substantial  Substantial Sector Strategies and Policies  --  Substantial  Substantial Technical Design of Project or Program  --  Moderate  Moderate Institutional Capacity for Implementation and Sustainability  --  High  High Fiduciary  --  Substantial  Substantial Environment and Social  --  Low  Low 1/17/2018 Page 3 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) Stakeholders  --  Substantial  Substantial Other  --  Moderate  Moderate Overall  --  Substantial  Substantial Results Project Development Objective Indicators PHINDPDOTBL  Transactions processed through the Automated Transfer System (ATS) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 10.00 Date 01-Sep-2016 -- 30-Nov-2017 31-Dec-2020 PHINDPDOTBL  Avg. no of days to create a business (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 17.00 -- 14.00 3.00 Date 15-Jan-2014 -- 31-Oct-2017 31-Dec-2020 Comments DTF improve by about 12%, but not due to reduction in number of days, which remain the same. PHINDPDOTBL  Avg. no of days to register a property (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 39.00 -- 39.00 10.00 Date 15-Jan-2014 -- 30-Nov-2017 31-Dec-2020 PHINDPDOTBL  Financial institutions connected to the Automated Transfer System (ATS) (Number, Custom) 1/17/2018 Page 4 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 8.00 Date 28-Sep-2016 -- 31-Oct-2017 31-Dec-2020 Overall Comments Intermediate Results Indicators PHINDIRITBL  Commercial Chamber Decisions Published on the Website (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 95.00 Date 15-Jan-2014 31-Mar-2017 31-Oct-2017 31-Dec-2020 PHINDIRITBL  Average Settlement time for credit transfers (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 0.50 Date 28-Sep-2016 -- 31-Oct-2017 31-Dec-2020 PHINDIRITBL  Average settlement time for checks (Days, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 2.00 1/17/2018 Page 5 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) PHINDIRITBL  Establishment of primary data center for the national payment system (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 28-Sep-2016 -- 31-Oct-2017 31-Dec-2020 PHINDIRITBL  Users satisfied with the functioning of the One Stop Shop (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 60.00 Date 28-Sep-2016 -- 31-Oct-2017 31-Dec-2020 Comments Surveys to be conducted PHINDIRITBL  Magistrates trained, which demonstrate improved knowledge (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 10.00 -- 0.00 50.00 Date 15-Jan-2014 -- 31-Oct-2017 31-Dec-2020 PHINDIRITBL  Enterprises registered per year (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 150.00 -- 435.00 1,200.00 Date 15-Jan-2014 -- 31-Aug-2017 31-Dec-2020 1/17/2018 Page 6 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) PHINDIRITBL  Of which led by women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 30.00 -- 30.00 140.00 Date 15-Jan-2014 -- 28-Sep-2016 31-Dec-2020 PHINDIRITBL  Property titles computerized (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 80.00 Date 15-Jan-2014 -- 31-Oct-2017 31-Dec-2020 Comments The titles are scanned but not computerized Overall Comments Result framework will be updated as data is collected Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P146250 IDA-55180 Effective USD 2.00 2.00 0.00 1.45 0.36 80% P146250 IDA-59350 Effective USD 5.10 5.10 0.00 0.43 4.97 7.9% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P146250 IDA-55180 Effective 23-Jun-2014 06-Nov-2014 12-Mar-2015 31-Dec-2019 31-Dec-2019 P146250 IDA-59350 Effective 14-Dec-2016 28-Dec-2016 20-Jun-2017 31-Dec-2020 31-Dec-2020 1/17/2018 Page 7 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) P158952-Governance for Private Sector and Finance Development Additional Fin. 1/17/2018 Page 8 of 8 Public Disclosure Copy