The World Bank Horticulture Development Project (P133703) REPORT NO.: RES43187 DOCUMENT OF THE WORLD BANK RESTRUCTURING PAPER ON A PROPOSED PROJECT RESTRUCTURING OF HORTICULTURE DEVELOPMENT PROJECT APPROVED ON JUNE 12, 2014 TO REPUBLIC OF UZBEKISTAN AGRICULTURE AND FOOD EUROPE AND CENTRAL ASIA Regional Vice President: Anna M. Bjerde Country Director: Lilia Burunciuc Regional Director: Steven N. Schonberger Practice Manager/Manager: Frauke Jungbluth Task Team Leader(s): Dilshod Khidirov The World Bank Horticulture Development Project (P133703) I. BASIC DATA Product Information Project ID Financing Instrument P133703 Investment Project Financing Original EA Category Current EA Category Partial Assessment (B) Partial Assessment (B) Approval Date Current Closing Date 12-Jun-2014 30-Jun-2023 Organizations Borrower Responsible Agency Republic of Uzbekistan Rural Restructuring Agency Project Development Objective (PDO) Original PDO The project development objective is to enhance the productivity and profitability of horticulture sector in the project area. Summary Status of Financing (US$, Millions) Net Ln/Cr/Tf Approval Signing Effectiveness Closing Commitment Disbursed Undisbursed IBRD-88240 30-Jan-2018 17-May-2018 25-Jun-2018 30-Jun-2023 500.00 466.83 33.17 IBRD-83930 12-Jun-2014 08-Apr-2015 05-Oct-2015 30-Jun-2021 150.00 146.15 3.85 TF-A7910 07-Sep-2018 07-Sep-2018 10-Nov-2018 31-Dec-2020 23.09 7.29 15.49 The World Bank Horticulture Development Project (P133703) Policy Waiver(s) Does this restructuring trigger the need for any policy waiver(s)? No I. SUMMARY OF PROJECT STATUS AND PROPOSED CHANGES Overall project implementation progress and achieving project development objectives are rated satisfactory. The project financing includes IBRD ( USD 650 mln ) and EU grant (EUR 19.5 mln). Implementation progress of IBRD- financed activities is ahead schedule with actual disbursement having reached USD 612.93 to-date and closing date being June 30, 2023. The implementation of the Component 1 “Agriculture Support Services” activities financed by the EU grant started later, in 2019 and currently progressing in line with the project implementation work plan. Its implementation period is planned for five years but due to the earlier closing date of the Parent Trust Fund’s Administrative Agreement, the Grant Agreement between the Recipient and the Bank was signed only for 2 years. The Recipient (Ministry of Finance), in its letter dated April 11, 2019, has requested the Bank to extend the closing date of the Grant Agreement to align with the closing date of the IBRD-financed Horticulture Development Project till June 30, 2023. The Addendum to extend the Parent Trust Fund’s Administration Agreement closing date to June 30, 2023 was signed on August 12, 2020 between the Bank and the EU. There are no pending audit reports or IFRs for the project as of today. Thus, the proposed restructuring seeks approval for the extension of the EU Grant Agreement closing date from the December 31, 2020 to February 28, 2023 to align with the implementation period of the IBRD-financed Horticulture Development Project. The proposed February 28, 2023 closing date will allow closing the commitments before the closing date of the Parent TF AA (June 30, 2023). II. DETAILED CHANGES LOAN CLOSING DATE(S) Original Revised Proposed Proposed Deadline Ln/Cr/Tf Status Closing Closing(s) Closing for Withdrawal Applications IBRD-83930 Effective 30-Jun-2021 IBRD-88240 Effective 30-Jun-2023 TF-A7910 Effective 31-Dec-2020 28-Feb-2023 28-Feb-2023 The World Bank Horticulture Development Project (P133703)