Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) Mongolia Multi-Sectoral Technical Assistance Project (P119825) EAST ASIA AND PACIFIC | Mongolia | Financial and Private Sector Development Global Practice | IBRD/IDA | Technical Assistance Loan | FY 2010 | Seq No: 7 | ARCHIVED on 25-Jun-2015 | ISR19650 | Implementing Agencies: Ministry of Finance, Bank of Mongolia, Financial Regulatory Commission, Ministry of Finance Key Dates Key Project Dates Board Approval date:28-Jun-2010 Effectiveness Date:17-Mar-2011 Planned Mid Term Review Date:31-Dec-2012 Actual Mid-Term Review Date:15-Jan-2013 Original Closing Date:31-Dec-2014 Revised Closing Date:30-Jun-2016 Project Development Objectives Project Development Objective (from Project Appraisal Document) To support the Recipient’s efforts to enhance its capacity for policy making, regulation, and implementation in the fiscal, social,and financial sectors. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Enhancing capacity for Fiscal Management:(Cost $4.12 M) Supporting Government efforts to better protect the poor:(Cost $3.20 M) Enhancing capacity for maintaining financial sector stability:(Cost $3.43 M) Project management:(Cost $0.73 M) Strengthening Capacity and Improving Transparency of the Government Procurement Agency:(Cost $0.30 M) Supporting Pensions Reform:(Cost $0.30 M) Improving Public Financial Management Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Satisfactory  Moderately Satisfactory 6/25/2015 Page 1 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) Overall Implementation Progress (IP)  Moderately Satisfactory  Moderately Satisfactory Overall Risk Rating  Moderate  Moderate Implementation Status and Key Decisions Overall project progress towards project development outcomes remains moderately satisfactory. The first project development objective indicator aims to enhance the credibility of the budget through realistic revenue projections and expenditure planning. Credibility of the budget has improved compared with the baseline as the magnitude of revenue shortfalls have substantially declined from 22 percent of budgeted revenue in 2011. Despite the progress, credibility of the budget still remains weak in 2015. 2015 budget is facing revenue shortfalls reaching over 10 percent of budget as of May due to overstated revenue projection. The original revenue projection proposal during the budget amendment in January was inflated during the parliament process despite the more realistic revenue projections proposed by the MoF. A supplementary budget is currently under discussion at the Cabinet to cut budget spending facing large revenue shortfalls. The second project development objective indicator aiming to adopt laws on accounting and auditing was successfully achieved in 2015. Laws on Accounting and Auditing was approved for endoresement of the Parlimanet on June 18, 2015. The law will become effective on January 1, 2016. The third PDO indicator is to prepare a poor household database on the basis of the Proxy Means Tested Survey. The PDO indicator has made good progress. PMT based Integrated Household Information Database (ISDB) was endorsed by government to be used across government programs in various sectors. Procedures for Management and Usage of Integrated Household Database were adopted by the Cabinet resolution (#404) as of 30 December, 2014. The database that is currently being used for only one welfare program – the Food Stamp Program, will be used for targeted medical insurance program. The fourth PDO indicator is also making good progress to adopt a new law on Deposit Insurance Corporation and to help the DIC become fully operational. The new DIC law was enacted in 2013. The agency is now operational and continues to strengthen its operational and financial capacity with the support of the MSTAP. Despite the successful progress towards PDO, the mission rated overall progress towards project development outcomes as moderately satisfactory, reflecting the weak budget credibility which is critical to prudent macro-economic management. Detailed outputs and outcomes of each component are as follows: 1. Component A1 is making steady progress except for A1.4. The BPIS – currently on a piloting stage – is planned to become fully operational for the central and local government as early as in 2016. Methodologies on health financing to local governments are being finalized by the MoF and MOH based on recommendations of two MSTAP consultants. The CoAs of the GFMIS were finally integrated into the CoAs of the Fiscal system. Revised budget classifications that capture programs, activities, and expenditure and revenue line items were amended by Finance Minister’s Order No.07 in 2015. The web-based LDF database system and the citizen’s portal for LDF-financed capital projects began to function in 2015 with the support of a MSTAP consultant. Consultation is under way between the MOF and the President Office to finalize the LDF formula based on MSTAP consultant’s recommendations. TSA Cash forecasting regulation has been approved by the Finance Minister order #147 to improve the accuracy of cash flow projection. Implementation delay in A1.4, however, is significant with disbursement rate at only 36% as of May. This subcomponent has been planning to hire international consultants who will develop a roadmap for establishing a sovereign wealth fund. However, the implementation was delayed as the adoption of a new SWF law was delayed. The mission strongly urged that the SWF subcomponent (A1.4) ramp up its implementation progress in the coming months. 2. Component B continued moderately satisfactory progress. Consultancy work is under way to analyze 2013 PMT survey data and prepare relevant reports. PMT based Integrated Household Information Database (ISDB) was endorsed by the government to be used across government programs in various sectors. The database – which is currently being used only for the Food Stamp Program – will be used for targeted medical insurance program. Following the Cabinet resolution to increase benefit and coverage of the Food Stamp Program, consultants worked together with GOSWS IT team on computing of the food stamp allocation. Development of Welfare Administration and Information System (WAIS) has been completed with specific modules on registration, reporting and administration of welfare benefits and services. The system will officially roll out from 2016. 3. Component C is also making steady progress since the last restructuring. Key activities included the policy making activities by the MOF in the areas on non-performing financial sector assets, implementation of the securities market, NBFI, and insurance legislation, strengthening of the IT systems and financial education activities by the Deposit Insurance Corporation, and strengthening of the regulatory and supervisory framework by the BOM, including Basel 2/3 mid-term strategy framework risk-based bank supervision, and implementation of the IFRS for banks. 4. Component E completed all the planned activities. Consultancy work included: (i) developing guidelines and manuals on procurement strategy and planning, (ii) developing training materials and conducting training for bidders, (iii) preparation of a manual for handling complaints, (iv) establishing a procurement tracking system, (v) preparation of guidelines for internal auditing and monitoring; (vi) public relations and advocacy services; and (vii) preparation of training materials and training for local government procurement units. All the equipment to support facilitation of the use of e-procurement and the disclosure of procurement information to the public have been delivered. All the planned training under the component have been completed. The project financed the participation of 22 officials in 6 various procurement learning events in e-Governance, e-procurement, country procurement systems and project and procurement management 5. Component F continued to support developing the pension policy reform framework which was endorsed by the Parliament on June 11 2015. With the recent approval of the pension reform policy framework, disbursement of Component F is expected to catch up as with other activities that were pending for the approval of the policy framework document. Given the small size of the Component (USD 296k), Component F is expected to complete its disbursement by the closing date. Project disbursement progress remained moderately satisfactory in the first half of 2015. Overall disbursement of the project picked up to 73.5 6/25/2015 Page 2 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) percent at the end of May 2015, from 65.9 percent year six months ago. Implementation progress, however, somewhat slowed early 2015 due to large reshuffling and changes of key staff in most of the government ministries after the previous Cabinet was abruptly dissolved and the new Cabinet was established in November 2014. Project disbursement is projected to reach 89% at the end of 2015, based on the current commitment and the project procurement plan approved by the Project Steering Committee. The projected disbursement progress varies across sub-components. While the disbursement rate is expected to reach over 90% of total budget allocation for Component A1 (91%), A2 (97%), B (94%), and E (100%) by the end of 2015, the disbursement rate of Component C (85%) and Component F (78%) are projected to be lower than other components. Based on the current progress and implementation plans, Components A, B, E are expected to be able to complete their disbursement by the closing date, June 31, 2016. However, activities of Component C would need to be further facilitated in order for a proper completion by the closing date, given their slower progress than other components. With the recent approval of the pension reform policy framework, disbursement of Component F is expected to catch up as with other activities that were contingent on the approval of the policy framework document. Further efforts are needed to facilitate the implementation progress, particularly in consultancy work. Training budget disbursement was high in all components as of May and is likely to be fully disbursed by the closing date. Disbursement of consultancy budget which accounts for 57% of total budget allocation of the MSTAP, however, remains slow in many components. Disbursement to consultancy work remained low in the range of 50-72 percent in components A1, B and C as of May 2015. By the end of 2015, total disbursement of consultancy budget is projected to reach 85 percent, a slow progress given that the closing date would be only six months away. One of the main reasons of slow disbursement of consultancy work was that some implementing agencies (e.g., MoF under Component A) focused on hiring local consultants, which take less time and resources than hiring international consultants. Some subcomponents (e.g., A1.4) has been delaying international consultancy work due to the stalled progress in adopting a related law at the parliament. The client is encouraged to more actively use seasoned international consultants who can provide technical assistance based on their international experiences. (See Table 1) The mission recommends that the client considers budget reallocation across sub-components and activities based on realistic disbursement and commitment plans, in order to secure full implementation by the closing date. As noted above, implementation progress varies across activities for some components. Proper reallocation of current budget based on realistic implementation plan of each of the activities would help advance project implementation within the remaining project period. The mission also recommends that subcomponents which demonstrate a relatively slower progress submit time-bound implementation plans for review and approval by the Project Steering Committee. Budget allocation of subcomponents that failed to provide realistic and time-bound implementation plan is recommended to be reallocated to other subcomponents with more active implementation progress. The mission recommends that the review and budget allocation across subcomponents is done by September to ensure proper implementation by the closing date. Against this background, the mission recommends that implementing agencies submit a time-bound and realistic implementation plan for the remainder of 2015 and by the closing date of the project, to the Project Steering Committee and the Bank task leaders by September. The implementation plan will include specific topics and types of work (including hiring national and international consultants, specific training plans, and purchases of goods). The client will review the implementation plan submitted by each component and decide whether there are needs for reallocating budget across sub-components by October, in order to advance the implementation. The World Bank team will closely communicate with the client on the needs of reallocating budget based on the client’s review results. The mission strongly recommend that all procurement activities (particularly hiring international consultants) be commenced by the end of 2015, and final commitments (signed contracts) be made by the end of February/March 2016. The mission also recommends that the client considers allocating unused budget based on a first-come first-served basis from the end of 2015, to secure full implementation of the budget by the closing date. Under this approach, budget allocations under each of the components for which procurement has not started would become a contingent fund for each component which will be allocated to activities on a first come first served basis, within the aggregate ceilings for each spending category. Table. Disbursement Progress (end-May) and Projection (end-2015) Disbursement as of May 31, 2015 Disbursement Projection by end-2015 Goods Consultan Training Total Goods Consultan Training Total ts ts A1.Enhancing Capacity for Fiscal and 75.4% 72.9% 91.8% 78.5% 84.7% 87.4% 98.6% 90.4% Treasury Management A1.1-A1.4 Improving fiscal policy and budget 72.9% 71.1% 91.8% 77.0% 81.3% 86.3% 98.4% 89.4% preparation and execution A1.5 Improving cash management, Treasury 0.0% 72.3% 85.5% 72.9% 100.0% 100.0% 100.0% 100.0% Fund A1.6 Strengthening MOF's IT systems 100.0% 92.8% 93.5% 93.8% 100.0% 94.1% 100.0% 96.6% A2. Improving the public financial 35.6% 59.2% 80.9% 65.4% 72.7% 93.0% 89.3% 91.3% management A2.1 Strengthening MOF's internal controls by 25.7% 65.8% 91.0% 69.3% 68.5% 92.0% 94.7% 91.3% improving its internal auditing capacity A2.2. Improve accounting operations 100.0% 53.3% 76.5% 62.5% 100.0% 93.9% 86.9% 91.2% 6/25/2015 Page 3 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) B. Supporting GE to better protect poor 69.4% 69.3% 87.6% 76.9% 99.1% 88.5% 96.5% 94.1% C. Enhancing Capacity for Maintaining the 88.7% 63.1% 85.0% 70.7% 88.7% 80.4% 95.0% 85.2% Stability of the Financial Sector C1. Strengthening the institutional capacity of 87.3% 63.0% 89.7% 72.3% 87.3% 76.6% 96.8% 83.3% MOF C2. Strengthening the institutional capacity of 100.0% 59.9% 76.9% 66.3% 100.0% 77.6% 92.2% 83.0% BOM C3. Strengthening the institutional capacity of 71.4% 97.5% 77.2% 100.0% 97.5% 99.5% FRC D. Project Management 74.5% 57.8% 36.3% 54.4% 74.5% 79.9% 68.7% 77.4% E. Strengthening Capacity and Improving 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Transparency of the GPA F. Supporting the Pensions' Reform and 77.3% 37.9% 66.6% 77.3% 81.3% 78.4% Developing Policy Options, MoPDSP Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  High  High Macroeconomic  --  High  High Sector Strategies and Policies  --  Moderate  Moderate Technical Design of Project or Program  --  Moderate  Moderate Institutional Capacity for Implementation and Sustainability  --  Low  Low 6/25/2015 Page 4 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) Fiduciary  --  Low  Low Environment and Social  --  Low  Low Stakeholders  --  Moderate  Moderate Other  --  --  -- Overall  --  Moderate  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Credibility of the executive budget strengthened through realistic revenue projection and expenditure planning. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Deviations of The 2014 budget expenditure The 2015 budget Deviations of expenditure expenditure outturn outturn and expenditure outturn and outturn and revenue and revenue outturn revenue outturn revenue outturn from outturn from original from original budget is from original Value original budget is budget were 28% and 22% expected to be around budget are expected to be around of original budget 14% and 15% of reduced to less 9% of original budget respectively in 2011. original budget than 10% of respectively. respectively. original budget respectively. Date 31-Jan-2012 19-Dec-2014 22-Jun-2015 30-Jun-2016 PHINDPDOTBL  The Government shall have submitted to the Parliament for passing the draft laws on accounting and auditing that would create thelegal environment for ensuring that Mongolia's accounting and auditing (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Achieved. Draft laws submitted to the Parliament and Draft laws Adherence to international Value Achieved. supported in Parliament submitted to standards uneven for approval at the final the Parliament. hearing on June 18, 2015 Date 01-Jan-2011 19-Dec-2014 01-Apr-2015 30-Jun-2016 PHINDPDOTBL  MPDSP has prepared a poor households database, on the basis of the Proxy Means Test survey. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Achieved. The second Achieved. The second Database Value No database round of PMT survey round of PMT survey completed 6/25/2015 Page 5 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) data collection was data collection was completed in Dec completed in Dec 2013, 2013, and the and the database database became became available in Apr available in Apr 2014. 2014. Furthermore, as of Dec 2014 the database was endorsed by the government to be used across government programs in various sectors. The database – which is currently being used only for the Food Stamp Program – now can be used for targeting of other government programs and subsidies for the poor. Date 01-Jan-2011 17-Dec-2014 23-Jun-2015 -- PHINDPDOTBL  New deposit insurance agency is fully operational. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target The new Deposit Insurance Corporation is a full-fledged The agency (the pillar of the Deposit Insurance The agency (the Deposit financial sector New Law on Deposit Corporation) is Insurance Corporation) safety net, with Insurance Corporation operational and is operational and proper Value enacted and is about to continuous to continuous to strenghten institutional have its implementation strenghten its its regulatory and structure and started regulatory and financial financial capacity financial capacity capacity, deposit payout capabilities, and clear mandates and responsibilities. Date 30-Apr-2013 17-Dec-2014 22-Jun-2015 30-Jun-2016 Overall Comments Intermediate Results Indicators 6/25/2015 Page 6 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) PHINDIRITBL  Strengthened fiscal planning and management capacity through improving budget planning mechanism (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target The new BPIS system continues to be tested with three line ministries and two aimags for 2015 budget together with the current Fiscal System. Configuration of the BPIS continues to ensure stable performance of the BPIS. The BPIS is planned to become fully operational for the No on-line web-based central and local The BPIS Budget Planning government as early as becomes Information System existed from 2016, depending functional and for budget preparation and on the progress of is used for different char of accounts meeting remaining budget Value -- are used for budget operational planning both planning (Fiscal, budget requirements. 8% of at the central planning system) and operational and local execution (GFMIS) requirements are yet to government systems be met. The current level. Fiscal System (an off- line system) is planned to be used in parallel with the new BPIS during the transition period until the new BPIS is fully settled and all users are familiarized with the new system. Training on the BPIS was conducted for local budget’s end-users in all 21 aimags in late 2014. Date 01-Jan-2012 30-Jun-2014 15-Jun-2015 30-Jun-2016 PHINDIRITBL  Strengthened legal framework for prudent natural resource revenue management. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target New legal A draft law on sovereign framework for wealth fund prudent natural No legal framework for establishment was resource prudent natural resource submitted to the Value -- revenue revenue management Parliament. The management is exited. Parliament will reivew adopted and the new SWF law ready for throughout 2015. implementation. 6/25/2015 Page 7 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) Date 01-Jun-2011 19-Dec-2014 15-Jun-2015 30-Jun-2016 PHINDIRITBL  Fiscal transfer formula for local government financing improved to increase predictability of resources and to reduce horizontal inequities between local governments and facilities (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target A proposal on improving the LDF transfer formula “Instruction on the was presented to the Local Development Finance Minister and the Fund” was developed President Office, with /it was approved by weights of 4 indicators Finance Minister’s (40% on population, Order #43 of 2014/. 20% on geographical The regulation contains remoteness, 20% on instructions on the development index, and management of LDF, 20% on tax mobilization including principles on initiatives). President planning of projects office proposed higher Government and activities to be weights on population resolutions on funded from the LDF, and asked the MOF to LDF formula, planning of LDF revisit the estimation on and education Value No fiscal transfer formula measures at each level horizontal allocation of and health of local government, LDF budgets across financing list of activities that aimags. Further formulas could be financed from discussion will be made implemented the LDF, disbursement based on revisited of LDF, evaluation, estimated by the MoF. monitoring and reporing principles of The MOF is working with the fund. Moreover, it the MoH to finalize the contains procedure on financing formula based the use of LDF system on the proposal made by for planning, financing, the MSTAP consultants, and monitoring of the aiming to put it into use LDF financed projects from 2016. and activities. Date 01-Jan-2011 19-Dec-2014 22-Jun-2015 30-Jun-2016 6/25/2015 Page 8 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) PHINDIRITBL  Improve the templates used for financial reporting in accordance with IFRS and create a consolidated database system for allowing electronic filing of financial statements by firms (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Achieved. IFRS- complied accounting guidelines for entities along with the revised Existing template chart of accounts Regular ineffective due to obtained approval by the financial modifications to IFRS. Minister of Finance on statement e- Value Partially achieved Lack of capacity and December 23, 2014 filing to MOF inefficiency of the current (order #249). The newly through e- software - eBalance developed e-balance balance system system for electronic submission of financial statements is now fully operational. Date 01-Jan-2011 19-Dec-2014 23-Jun-2015 30-Jun-2016 PHINDIRITBL  Capacity enhancement for setting and enforcing international financial reporting standards (IFRS) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Enhanced Lack of capacity for both capacity for regulators and preparers of Value Partially achieved Partially achieved Accounting financial statements with Standards regards to IFRS. Committee Date 01-Jan-2011 19-Dec-2014 23-Jun-2015 30-Jun-2016 PHINDIRITBL  MoPDSP and GOSWS have created an adequate IT infrastructure for designated users on the basis of the PMT database for poor households and citizens or targeting purposes for social programs, assist (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 6/25/2015 Page 9 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) Partially achieve with a Multi –sector good progress. database is Development of Welfare operational, Administration and sharing and Information System retrieval of data (WAIS) has been enabled for all completed with specific users including modules on registration, a number of No web based software Partially achieved, the Value reporting and Ministries and available work is in a progress. administration of welfare departments benefits and services. using ISDB to Remaining model on determine accounting will be eligibility of developed by Oct 2015 social and the whole system programs, will officially roll out from services and 2016. benefits. Date 01-Jan-2011 17-Dec-2014 23-Jun-2015 30-Jun-2016 PHINDIRITBL  Percentage of staff trained in the Ministry of Population Development and Social Protection, General Office for Social Welfare Service and local governments (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Partially achieved, with a Training good progress. A series delivered to a of capacity building significant training events were portion of social organized including two workers and unknown due to govt Partially achieved, with national trainings on GOSWS staff, Value restructuring in 2012 a good progress. social work services and and long term WAIS/ISDB institutional implementation training nationwide. 92% if the capacity build field staff have been beyond the trained. project life Date 01-Jul-2012 17-Dec-2014 23-Jun-2015 30-Jun-2016 PHINDIRITBL  Accounting standards introduced (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target In progress, the new accounting documents are being finalized and introduced by BOM. The IFRS for banks In progress, the new BOM continues to work introduced and No IRFS in place for accounting documents Value with support from applied to financial sector are being finalized and accounting Mongolian introduced by BOM experts/consultants on banks finalizing the IFRS arrangements before their full deployment. 6/25/2015 Page 10 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) Date -- 17-Dec-2014 23-Jun-2015 30-Jun-2016 PHINDIRITBL  Bespoke Macro-prudential policy framework developed (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target In progress. The BOM is working on, and planning to commence Formal macro- work on, a host of new prudential regulatory and supervision supervisory initiatives, policy adopted including strengthning and applied, Value -- In progress prudential standards for overall banks' capital, non- prudential performing loans, and supervision loan loss provisioning, standards also advanving upgraded conslidated and risk based supervision. Date -- 17-Dec-2014 23-Jun-2015 30-Jun-2016 PHINDIRITBL  State Bank successfully restructured (privatized, merged with another bank) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Not achieved. No specific actions by the State Bank government to start the In progress, but no restructured actual sales process specific actions by the and privatized have taken place, Value -- government to start the on in an active although State Bank is actual sales process and committed tentatively slated for sale have taken place process of at an unspecified future privatization point, on the basis of its "improved value". Date -- 17-Dec-2014 23-Jun-2015 30-Jun-2016 6/25/2015 Page 11 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) PHINDIRITBL  Transparency on procurement process managed by the GPA will be enhanced according to the revised Public Procurement Law (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Information on bidding and contracts posted on Information on Limited disclosure of Information on bidding Government website. bidding and information on contract and contracts posted 100% of Procurement contracts Value awardees, and contract on Government Plans, Invitation for Bids posted on cost. website & Contract Awards are government posted on the website procurement website. Date 01-Jan-2011 15-Dec-2014 29-May-2015 30-Jun-2016 PHINDIRITBL  A strategy paper, policy options and main concept driving the pension reform agenda have been submitted to the Government , and an implementation plan has been developed (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Achieved. White Paper Define pension (Policy Framework) on reform policy A draft White Paper on Pension Reform has concepts to Pension Reform has Despite the govt intention been supported by the establish been submitted to the to move to a multitier Cabinet and endorsed sustainable Cabinet. Further steps Value pension system, the actual by the Parliament as of multi-pillar were dealyed with Govt strategy has not been June 11, 2015. With pension system restructuring process defined yet. approval of this overall that provides started in Oct and still framework, respective an adequate is ongoing. legislative changes will benefit to the follow. elderly Date 01-Jun-2013 17-Dec-2014 23-Jun-2015 30-Jun-2016 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P119825 IDA-47770 Effective USD 12.00 12.00 0.00 9.82 2.20 82% P119825 TF-99122 Closed USD 0.50 0.25 0.25 0.25 0.00 100% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date 6/25/2015 Page 12 of 13 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Mongolia Multi-Sectoral Technical Assistance Project (P119825) P119825 IDA-47770 Effective 28-Jun-2010 04-Aug-2010 17-Mar-2011 31-Dec-2014 30-Jun-2016 P119825 TF-99122 Closed 31-Mar-2011 13-Apr-2011 13-Apr-2011 31-May-2012 31-May-2012 Cumulative Disbursements Restructuring History Level Approved on 27-Mar-2012 ,Level Approved on 17-Apr-2013 ,Level 2 Approved on 04-Oct-2013 ,Level 2 Approved on 10-Dec-2014 Related Project(s) There are no related projects. 6/25/2015 Page 13 of 13 Public Disclosure Copy