The World Bank Implementation Status & Results Report IDF Burkina Faso Implementing AML/CFT (P130791) IDF Burkina Faso Implementing AML/CFT (P130791) AFRICA | Burkina Faso | Financial Systems Practice Global Practice | Institutional Development Fund| FY 2012 |Seq No: 2 | ARCHIVED on 02-Apr-2015 | ISR17206 | Implementing Agencies: Key Dates Key Project Dates Board Approval date:29-Mar-2012 Effectiveness Date:18-Sep-2012 Planned Mid Term Review Date:22-Dec-2014 Actual Mid-Term Review Date:22-Dec-2014 Original Closing Date:18-Sep-2015 Revised Closing Date:18-Sep-2015 Project Development Objectives Project Development Objective (from IDF Proposal) The objective of the project is to improve the reporting, analysis, and investigation of suspicious transaction reports (STRs) by the private sector and key Government agencies involved in anti-money laundering (AML) in Burkina Faso, including the judiciary. Thiswill be achieved by: 1. Reinforcing the operational capacities of the financial intelligence unit (FIU), the Cellule Nationale pour le Traitement des Informations Financieres (CENTIF), to analyze suspicious transaction reports (STRs) filed by the private sector(Component 1); 2. Improving the reporting of STRs by the private sector (Component 2); 3. Ensuring an adequate handling of money laundering and financial crime cases by the Police, Gendarmerie, Customs, the National Committee against Drugs and the judiciary (Component 3); 4. Enhancing the management and use of the asset disclosure system (Component 4). Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name REINFORCING THE OPERATIONAL CAPACITIES OF THE CENTIF:(Cost $148299.00 M) ENHANCING COMPLIANCE WITH AML LEGAL OBLIGATIONS:(Cost $115260.00 M) PROMOTING THE SPECIALIZATION OF COURTS AND MAGISTRATES:(Cost $111923.00 M) ENHANCING MANAGEMENT AND USE OF ASSET DISCLOSURE SYSTEM:(Cost $86668.00 M) Audit:(Cost $33500.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory 4/2/2015 Page 1 of 4 The World Bank Implementation Status & Results Report IDF Burkina Faso Implementing AML/CFT (P130791) Overall Risk Rating -- Substantial Implementation Status and Key Decisions From July 2013 to August 2014, the authorities have been implementing this IDF at a satisfactory level, most of the activities of components 1, 3, 4 have been implemented and the recruitment process for the implementation of the remaining activities finalized. The disbursement letter of this project was amended to allow the authorities to use "advances" as a disbursement method and the CENTIF opened a designated account. The Ebola crisis, and to a lesser extent the change of government, have affected the implementation of this IDF, since the consultants hired to carry out the activities of this grant have canceled missions to Burkina due to the fear of the spread of Ebola in the country, until the situation stabilizes. This situation threatens the achievement of the development objectives of this IDF if the authorities are not given more time to implement this grant. In agreement with the country manager for Burkina, the team has processed to the filing of an extension request for this project since the sanitary situation in West Africa is stabilizing, and that the team is confident that missions will resume shortly. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- -- Substantial Macroeconomic -- -- Low Sector Strategies and Policies -- -- Low Technical Design of Project or Program -- -- Low Institutional Capacity for Implementation and Sustainability -- -- Low Fiduciary -- -- Low Environment and Social -- -- Low 4/2/2015 Page 2 of 4 The World Bank Implementation Status & Results Report IDF Burkina Faso Implementing AML/CFT (P130791) Stakeholders -- -- Low Other -- -- Substantial Overall -- -- Substantial Results Indicators PHINDPDOTBL Number of cases investigated by economic and financial crime unit(Number,Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 5.00 Date 15-Mar-2012 -- 22-Dec-2014 14-Sep-2015 PHINDPDOTBL Number of money laundering prosecutions initiated by the Public Prosecutor(Number,Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 27.00 5.00 Date 15-Mar-2012 -- -- 14-Sep-2015 PHINDPDOTBL Number of Suspicious Transaction Reports (STR) filed by the non banks and non-financial Reporting Entities(Number,Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 1.00 10.00 Date 15-Mar-2012 26-Jun-2013 22-Dec-2014 14-Sep-2015 PHINDPDOTBL Percentage of participants of the workshops on financial disclosure successfully completing a knowledge test(Percentage,Custom) 4/2/2015 Page 3 of 4 The World Bank Implementation Status & Results Report IDF Burkina Faso Implementing AML/CFT (P130791) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 60.00 60.00 Date 15-Mar-2012 -- 20-Dec-2014 31-Dec-2014 PHINDPDOTBL Number of STRs analyzed by the CENTIF(Amount(USD),Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.00 -- 78.00 50.00 Date 15-Mar-2012 -- 30-Sep-2014 01-Oct-2014 Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P130791 TF-12464 Effective USD 0.50 0.50 0.00 0.16 0.33 33% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P130791 TF-12464 Effective 18-Sep-2012 18-Sep-2012 18-Sep-2012 18-Sep-2015 18-Sep-2015 Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 4/2/2015 Page 4 of 4