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: 14 | ARCHIVED on 17-Feb-2021 | ISR45679 | Implementing Agencies: Ministry of Finance, Republic of Djibouti, Agence National de Promotion des Investissements (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: 08-Mar-2018 Original Closing Date: 31-Dec-2019 Revised Closing Date: 30-Jun-2021 pdoTable 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) To improve the efficiency of business regulation and establish an automated National Payment System. Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions This is an interim ISR (ISR is due) - a full ISR will be filed after the supervision mission proposed for Feb. 24, 2021. Risks Systematic Operations Risk-rating Tool 2/17/2021 Page 1 of 6 The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Low Low Macroeconomic -- Substantial Substantial Sector Strategies and Policies -- Low Low Technical Design of Project or Program -- Moderate Moderate Institutional Capacity for Implementation and -- Moderate Moderate Sustainability Fiduciary -- Substantial Substantial Environment and Social -- Low Low Stakeholders -- Moderate Moderate Other -- Moderate Moderate Overall -- Moderate Moderate Results PDO Indicators by Objectives / Outcomes Establish an automated National Payment System IN00959700 ►Transactions processed through the Automated Transfer System (ATS) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 20-Sep-2016 10-Aug-2020 16-Feb-2021 31-Dec-2020 The contract for the ATS+ has been signed. The service provider has begun implementation in mid-May 2019. Comments: To improve the efficiency of business regulation IN00959771 ►Avg. no of days to create a business (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 17.00 14.00 14.00 3.00 Date 15-Jan-2014 10-Aug-2020 16-Feb-2021 31-Dec-2020 IN00959772 ►Avg. no of days to register a (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target 2/17/2021 Page 2 of 6 The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) Value 39.00 24.00 24.00 10.00 Date 15-Jan-2014 10-Aug-2020 16-Feb-2021 31-Dec-2020 Intermediate Results Indicators by Components Investment Climate reforms IN00959774 ►Enterprises registered per year (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 150.00 2,005.00 2,005.00 1,200.00 Date 15-Jan-2014 13-Aug-2020 16-Feb-2021 31-Dec-2020 Data will be updated asap. Comments: IN00959776 Of which led by women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 30.00 308.00 308.00 140.00 Date 15-Jan-2014 13-Aug-2020 16-Feb-2021 31-Dec-2020 IN00959777 ►Property titles digitized (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 80.00 Date 15-Jan-2014 13-Aug-2020 16-Feb-2021 31-Dec-2020 data provided by the Land registry. Needs to be confirmed by DB. Comments: IN00959779 ►Adoption of legal and regulatory texts (new or revised) taken into account by the Doing Business report (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 10.00 10.00 10.00 Date 15-Jan-2014 13-Aug-2020 16-Feb-2021 30-Dec-2020 Since DB 2019, two new laws have been adopted: (i )Djibouti strengthened minority investor protections by increasing corporate transparency; (ii) Djibouti made resolving insolvency easier by facilitating the commencement of proceedings and increasing the effectiveness of court processes. Comments: 2/17/2021 Page 3 of 6 The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) IN00959780 ►Magistrates trained in resolution of commercial disputes (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.00 4.00 10.00 Date 15-Jan-2014 13-Aug-2020 16-Feb-2021 31-Dec-2020 Training in Morocco Comments: IN00959781 ►Users satisfied with the functioning of the One Stop Shop (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 60.00 Date 28-Sep-2016 13-Aug-2020 16-Feb-2021 31-Dec-2020 The OSS is being restructured. A survey will be carry out after the restructuring Comments: IN00959782 ►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 13-Aug-2020 16-Feb-2021 31-Dec-2020 President of the Tribunal de Premiere Instance informed the Bank team in December 2019 that the Comments: publication of the decision will start Establishment of an Automated National Payment System IN00959773 ►Establishment of primary data center for the national payment system (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 28-Sep-2016 10-Aug-2020 16-Feb-2021 31-Dec-2020 IN00959775 ►Average Settlement time for credit transfers (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 0.50 Date 28-Sep-2016 10-Aug-2020 16-Feb-2021 31-Dec-2020 IN00959778 Average settlement time for checks (Days, Custom Supplement) 2/17/2021 Page 4 of 6 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 0.00 2.00 Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P146250 IDA-55180 Closed USD 2.00 2.00 0.00 1.80 0.01 100% P146250 IDA-59350 Effective USD 5.10 5.10 0.00 4.21 1.15 79% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P146250 IDA-55180 Closed 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 30-Jun-2021 Cumulative Disbursements 2/17/2021 Page 5 of 6 The World Bank Implementation Status & Results Report Djibouti: Governance for Private Sector Development and Finance Project (P146250) PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC Restructuring History Level 2 Approved on 26-Jun-2018 ,Level 2 Approved on 10-Dec-2020 Related Project(s) P158952-Governance for Private Sector and Finance Development Additional Fin. 2/17/2021 Page 6 of 6