Report No: ICR00091 IMPLEMENTATION COMPLETION AND RESULTS REPORT (Credit No. 63030) ON A CREDIT IN THE AMOUNT OF SDR14.2 MILLION (US$20 MILLION EQUIVALENT) TO THE REPUBLIC OF GHANA FOR GHANA ENERGY SECTOR TRANSFORMATION INITIATIVE PROJECT January 31, 2025 Energy & Extractives Western And Central Africa The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT CURRENCY EQUIVALENTS (Exchange Rate Effective {December 31, 2024}) New Ghanaian Cedi Currency Unit = (GHC) GHC 16.30 = US$1 US$ 1.30 = SDR1 FISCAL YEAR January 1 - December 31 Regional Vice President: Ousmane Diagana Country Director: Robert R. Taliercio Regional Director: Franz R. Drees-Gross Practice Manager: Ashish Khanna Task Team Leader (s): Dhruva Sahai, Maame Tabuah Ankoh ICR Main Contributor: Donghui Park, Enrique Crousillat, Kwadwo O. Kusi The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ABBREVIATIONS AND ACRONYMS ACCPAC Accounting Software for Client-Centric Applications AMI Advance Metering Infrastructure COMAH Control of Major Accident Hazards CPESDP Coordinated Program of Economic and Social Development Policies CPF Country Partnership Framework CPS Country Partnership Strategy CRM Cylinder Recirculation Model CWM Cash Waterfall Mechanism DA Designated Account DPF Development Policy Financing DPO Development Policy Operation DSA Daily Subsistence Allowance E&S Environmental and Social EC Electoral Commission ECF Extended Credit Facility ECG Electricity Company of Ghana EIRR Economic Internal Rate of Return EPPs Emergency Power Producers ERP Enterprise Resource Planning ESMF Environmental and Social Management Framework ESMP Environmental and Social Management Plan ESRP Energy Sector Recovery Programme ESRP Energy Sector Reform Program FA Financing Agreement FIRR Financial Internal Rate of Return FM Financial Management GDP Gross Domestic Product GEDAP Ghana Energy Development and Access Project GESTIP Ghana Energy Sector Transformation and Initiative Project GIFMIS Ghana Integrated Financial Management Information System GIS Geographic Information System GNGC Ghana National Gas Company GNPC Ghana National Petroleum Corporation GoG Government of Ghana GRIDCo Ghana Grid Company GRM Grievance Redress Mechanism GRMC Grievance Redress Mechanism Committee GSA Gas Sales Agreement HFO Heavy Fuel Oil IDA International Development Association The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT IFR Interim Financial Report IMF International Monetary Fund IPPs Independent Power Producers IRIs Intermediate Results Indicators ISO International Organization for Standardization ISR Implementation Support Report LCO Light Crude Oil LNG Liquefied Natural Gas LPG Liquefied Petroleum Gas KNUST-TCC Kwame Nkrumah University of Science and Technology - Technology Consultancy Centre M&E Monitoring and Evaluation MMscf/d Million Standard Cubic Feet per Day MoEn Ministry of Energy MoGCSP Ministry of Gender, Children, and Social Protection MoME Ministry of Monitoring and Evaluation MTR Midterm Review MYTO Multi-Year Tariff Order NEDCo Northern Electricity Distribution Company N-Gas N-Gas Limited NNPC Nigerian National Petroleum Corporation NPA National Petroleum Authority NPV Net Present Value OMS Outage Management System PAD Project Appraisal Document PCR Project Completion Report PDOs Project Development Objectives PIP Performance Improvement Plan PIU Project Implementation Unit PLS-CADD Power Line Systems - Computer Aided Design and Drafting PPPs Public-Private Partnerships PURC Public Utilities Regulatory Commission SCADA Supervisory Control and Data Acquisition SDR Special Drawing Rights SOEs State-Owned Electricity Enterprises TA Technical Assistance TEN Tweneboa Enyenra Ntomme TOR Terms of Reference VoLL Value of Lost Load VRA Volta River Authority WAGP West African Gas Pipeline The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT TABLE OF CONTENTS DATA SHEET ................................................................................................................................................. i I. PROJECT CONTEXT AND DEVELOPMENT OBJECTIVES ..................................................................................1 II. OUTCOME ...............................................................................................................................................11 III. KEY FACTORS AFFECTED IMPLEMENTATION AND OUTCOME .....................................................................17 IV. BANK PERFORMANCE, COMPLIANCE ISSUES, AND RISK TO DEVELOPMENT OUTCOME ..............................21 V. LESSONS AND RECOMMENDATIONS.........................................................................................................27 ANNEX 1. RESULTS FRAMEWORK AND KEY OUTPUTS ........................................................................................29 ANNEX 2. BANK LENDING AND IMPLEMENTATION SUPPORT/SUPERVISION .......................................................34 ANNEX 3. PROJECT COST BY COMPONENT .........................................................................................................36 ANNEX 4. EFFICIENCY ANALYSIS ........................................................................................................................37 ANNEX 5. BORROWER, CO-FINANCIER AND OTHER PARTNER/STAKEHOLDER COMMENTS .................................38 ANNEX 6. SUPPORTING DOCUMENTS (IF ANY) ...................................................................................................39 GESTIP Project Completion Report by PIU .................................................................................................. 41 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT DATA SHEET @#&OPS~Doctype~OPS^dynamics@icrbasicdata#doctemplate BASIC DATA Product Information Operation ID Operation Name P163984 Ghana Energy Sector Transformation Initiative Project Product Operation Short Name Investment Project Financing (IPF) GESTIP Operation Status Approval Fiscal Year Closed 2019 Original EA Category Current EA Category Partial Assessment (B) (Restructuring Data Sheet - 26 Jul Not Required (C) (Approval package - 14 Mar 2022) 2022) CLIENTS Borrower/Recipient Implementing Agency The Republic of Ghana Ministry of Energy DEVELOPMENT OBJECTIVE Original Development Objective (Approved as part of Approval Package on 13-Mar-2022) The Project development objectives is to: strengthen the capacity of the energy sector to implement sector reforms, and improve energy sector planning and coordination in Ghana s s s @#&OPS~Doctype~OPS^dynamics@icrfinancing#doctemplate FINANCING Financing Source Original Amount (US$) Revised Amount (US$) Actual Disbursed (US$) World Bank Financing 20,000,000.00 20,000,000.00 19,158,353.43 i The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT IDA-63030 20,000,000.00 20,000,000.00 19,158,353.43 Total 20,000,000.00 20,000,000.00 19,158,353.43 RESTRUCTURING AND/OR ADDITIONAL FINANCING Amount Disbursed Date(s) Type Key Revisions (US$M) • Components • Results • Risks • Safeguard Policies Triggered 26-Jul-2022 Portal 8.03 • Legal Covenants • Disbursement Estimates • Loan Closing Date Extension • Implementation Schedule @#&OPS~Doctype~OPS^dynamics@icrkeydates#doctemplate KEY DATES Key Events Planned Date Actual Date Concept Review 31-Jul-2017 26-Jul-2017 Authorize Negotiations 14-May-2018 24-May-2018 Approval 13-Jul-2018 13-Jul-2018 Signing 30-Jul-2018 12-Dec-2018 Effectiveness 29-Oct-2018 08-Feb-2019 ICR/NCO 29-Nov-2024 -- Restructuring Sequence.01 Not Applicable 26-Jul-2022 Mid-Term Review No. 01 01-Sep-2020 14-Aug-2020 Operation Closing/Cancellation 31-Dec-2023 31-Dec-2023 @#&OPS~Doctype~OPS^dynamics@icrratings#doctemplate RATINGS SUMMARY Outcome Bank Performance M&E Quality ii The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ISR RATINGS Actual Disbursements No. Date ISR Archived DO Rating IP Rating (US$M) 01 01-Nov-2018 Satisfactory Satisfactory 0.00 02 18-Apr-2019 Satisfactory Satisfactory 0.00 03 23-Oct-2019 Moderately Satisfactory Moderately Satisfactory 2.00 04 19-Apr-2020 Moderately Satisfactory Moderately Satisfactory 2.00 Moderately 05 14-Oct-2020 Moderately Satisfactory 2.00 Unsatisfactory Moderately 06 26-Apr-2021 Moderately Satisfactory 2.47 Unsatisfactory Moderately 07 19-Nov-2021 Moderately Satisfactory 6.66 Unsatisfactory 08 29-Jun-2022 Moderately Satisfactory Moderately Satisfactory 7.80 09 21-Dec-2022 Moderately Satisfactory Moderately Satisfactory 12.92 10 21-Jun-2023 Moderately Satisfactory Moderately Satisfactory 15.12 11 25-Jul-2024 Satisfactory Moderately Satisfactory 19.16 @#&OPS~Doctype~OPS^dynamics@icrsectortheme#doctemplate SECTORS AND THEMES Sectors Adaptation Mitigation Major Sector Sector % Co-benefits Co-benefits (%) (%) Energy Transmission and Distribution 13 0 17 Oil and Gas 28 0 0 Energy and Extractives Other Energy and Extractives 39 0 15 Public Administration - Energy and 12 0 10 Extractives Renewable Energy Hydro 8 0 0 Themes iii The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Major Theme Theme (Level 2) Theme (Level 3) % Climate change Mitigation 9 Environment and Access to Energy 25 Natural Resource Energy Energy Efficiency 25 Management Energy Policies & 88 Reform Private Sector Jobs Job Creation 33 Development iv The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ADM STAFF Role At Approval At ICR Practice Manager Wendy E. Hughes Ashish Khanna Regional Director Franz R. Drees-Gross Global Director Riccardo Puliti Demetrios Papathanasiou Practice Group Vice President Guangzhe Chen Country Director Henry G. R. Kerali Robert R. Taliercio Regional Vice President Makhtar Diop Ousmane Diagana ADM Responsible Team Leader Shinya Nishimura Dhruva Sahai Co-Team Leader(s) Paivi Koljonen Maame Tabuah Ankoh ICR Main Contributor Donghui Park, Enrique Crousillat, Kwadwo O. Kusi I. PROJECT CONTEXT AND DEVELOPMENT OBJECTIVES A. CONTEXT AT APPRAISAL Context 1. Ghana's economy has historically relied heavily on the energy sector, encompassing gas, oil, and power. Between 2007 and 2017, the country experienced robust economic growth and significant poverty reduction, achieving lower-middle-income status following the commencement of commercial oil production in 2011. However, from 2014 to 2016, declining international commodity prices—particularly for oil and gold— combined with challenges in the power sector, slowed economic growth and led to fiscal imbalances and rising inflation. In response, Ghana implemented a fiscal consolidation program in 2015, supported by the International Monetary Fund (IMF) and the World Bank, which successfully reduced the fiscal deficit by 2017. Despite these efforts, the country's economic outlook remained vulnerable to both external and domestic risks, including the need to manage external financing costs, reduce dependency on commodities, and address substantial debt and inefficiencies within State-Owned Electricity Enterprises (SOEs). 2. Despite significant reforms in the power sector, such as vertical unbundling and increased private sector participation through Independent Power Producers (IPPs), persistent challenges continued to drive financial instability and fiscal deficits. Key issues included gas supply shortages that elevated fuel costs for thermal plants, non-competitive power procurement for Emergency Power Producers (EPPs) and IPPs following the 2014 power crisis, and the acquisition of excessive IPP capacity through take-or-pay contracts executed without proper least-cost planning, resulting in substantial financial strain. Additionally, operational Page 1 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT inefficiencies like high distribution losses and low revenue collection within distribution utilities further exacerbated the sector's financial challenges. These liquidity constraints affected the entire energy value chain, leading to payment delays to essential suppliers and contractors. The Volta River Authority (VRA), facing operational funding gaps, resorted to short-term financing, accumulating significant debt and limiting its capacity to invest in more efficient generation options, thereby maintaining high electricity production costs. 3. The sector's planning, coordination, and regulatory frameworks lacked coherence, and weak institutional capacities across various agencies led to fragmented efforts insufficient to address the underlying structural cash deficits. In December 2015, the Government of Ghana (GoG) implemented a 45% tariff increase aimed at mitigating financial challenges; however, anticipated improvements did not materialize. The combination of consumer demand elasticity and inadequate supply quality led to lower-than-expected electricity demand in 2016, as consumers curtailed usage in response to higher prices. A significant tariff disparity between commercial and residential users prompted many industrial consumers to seek cheaper alternatives, such as diesel-powered self-generation. In March 2018, the Public Utilities Regulatory Commission (PURC) reduced tariffs by 17% for residential consumers and 30% for commercial consumers, which further decreased sector revenues without stimulating demand growth. The absence of a comprehensive Multi-Year Tariff Order (MYTO) that adequately reflected macroeconomic changes, generation costs, and demand dynamics, along with insufficient investments in distribution and transmission infrastructure, compounded financial shortfalls and hindered improvements in supply quality and reliability. Without effective policy and regulatory oversight, the sector struggled to achieve financial stability and resolve its structural deficits. 4. Uncertainties surrounding gas supply, demand, and pricing further complicated the challenges within Ghana's power sector. Domestic gas production fell short of expectations due to underproduction from the Jubilee and the Tweneboa Enyenra Ntomme (TEN) oil fields, leading to inconsistent gas availability for electricity generation. Although the Sankofa integrated oil and gas project (P152670) commenced in 2017 to enhance production, it failed to completely bridge the supply gap. The West African Gas Pipeline (WAGP) also experienced supply interruptions attributed to non-payment issues by Ghana. Infrastructure constraints in gas transportation led to regional imbalances, with excess supply in the western regions and shortages in the eastern regions where most power plants were located. In 2017, there was a lack of clarity regarding the required volumes of natural gas to balance supply and demand and its availability at competitive prices for thermal energy production. Furthermore, in the absence of an established gas tariff policy, the PURC was in the process of developing guidelines to assist the Ghana National Petroleum Corporation (GNPC) in setting appropriate tariffs. 5. To address these multifaceted challenges, the government launched a comprehensive sector turnaround program aimed at restoring financial viability, improving planning and investment decisions, enhancing regulatory frameworks, and expanding electricity access. Concurrently, efforts were made to define clear operational mandates for key power and gas sector entities, focusing on improved coordination, role rationalization, regulatory strengthening, and capacity building. Supporting these initiatives, the Ghana Energy Sector Transformation and Initiative Project (GESTIP) was developed as a Technical Assistance (TA) project. GESTIP aligned with the World Bank’s Country Partnership Strategy (CPS) for Ghana (FY2013- Page 2 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT FY2016) 1, specifically supporting the pillars of improved economic institutions and enhanced competitiveness by strengthening power sector capacity for reforms and improving energy sector planning and coordination. It also complemented the government's Coordinated Program of Economic and Social Development Policies (CPESDP) 2 by aiming to improve the financial viability and coordination of the energy sector, thereby contributing to macroeconomic stability and increased private sector competitiveness. The Project supplemented ongoing and recently completed World Bank initiatives, such as the Ghana Energy Development and Access Project (GEDAP, P074191), and was linked to the Second Macroeconomic Stability for Competitiveness and Growth (P157343) Development Policy Operation (DPO). The sector reform agenda outlined under GESTIP was intended to receive continued support through future DPO series with a strong emphasis on the energy sector. Theory of Change (Results Chain) 6. The Project Development Objectives (PDOs) aligned with Ghana’s long-term goals as outlined in the government’s CPESDP and the CPS for FY2013-FY2016. The Project activities were specifically designed to support critical financial, planning, coordination, and strategic outcomes in the energy sector, which were essential for achieving the PDOs. Although the Project Appraisal Document (PAD) and restructuring paper did not explicitly outline a theory of change, the results chain can be inferred and is illustrated in Figure 1. During the 2022 restructuring, several activities were canceled, and new ones were introduced to support the Ghana’s Energy Sector Recovery Programme (ESRP) 3, consistent with the PDOs and the underlying theory of change. The success of the Project relies on key assumptions: sustained political support for improving the energy sectors, macroeconomic and monetary policies focused on sustainability and equitable benefits, and the effectiveness of monitoring and evaluation mechanisms to ensure transparency and accountability. 1 https://documents1.worldbank.org/curated/en/606871468249312142/pdf/763690CAS0Ghan000PUBLIC00Box379829B.pdf 2 https://s3-us-west-2.amazonaws.com/new-ndpc-static1/CACHES/PUBLICATIONS/2018/04/11/Coordinate+Programme- Final+(November+11,+2017)+cover.pdf 3 https://mofep.gov.gh/sites/default/files/reports/economic/Energy-Sector-Recovery-Programme-Document.pdf Page 3 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Figure 1: Theory of Change Page 4 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Project Development Objectives (PDOs) 7. As stated in the Financing Agreement (FA), the objectives of the Project are to strengthen the capacity of the energy sector to implement sector reforms and improve energy sector planning and coordination in Ghana. Key Expected Outcomes and Outcome Indicators 8. The Project aimed to bolster Ghana's energy sector through two primary PDOs. PDO 1: Strengthen the capacity of the energy sector to implement sector reforms, focusing on building a robust framework for sector reforms through various activities; the PDO-level indicators for these activities were: 1.1 Allocating power sector revenues to sector entities via Cash Waterfall Mechanism (CWM), ensuring a structured approach to financial management. 1.2 Implementing the e-billing/e-payment system by NEDCo (Northern Electricity Distribution Company), aimed at streamlining billing processes and enhancing transparency. 1.3 Adopting and communicating an electrification strategy and investment plan for remote areas, targeting universal electricity access. 1.4 Establishing a clean cooking strategy to promote access to safe and sustainable cooking methods and communicated to stakeholders. PDO 2: Improve energy sector planning and coordination in Ghana sought to refine the sector's strategic oversight through various activities and initiatives; the PDO-level indicators for these activities were: 2.1 Endorsement of a least-cost power expansion plan by the sector coordination body, facilitating cost- effective energy development. 2.2 Adoption and communication of a strategy for competitive tendering of gas/Liquefied Natural Gas (LNG) volumes to balance gas supply and demand for power plants, ensuring efficient and equitable resource distribution. 9. These indicators represent the core targets established by the Project to achieve meaningful progress in strengthening and coordinating Ghana's energy sector, thereby contributing to its long-term sustainability and efficiency. Beyond the foundational PDO indicators, the Project also employed a set of eleven Intermediate Results Indicators (IRIs) across the four designed project components. These IRIs enabled more detailed monitoring of progress and measurement of the impacts of each project component. Components The project components and resource allocations are as follows: 10. Component 1: Management of Energy Sector Financial Flows. This component, with a budget of US$5.3 million equivalent, focused on enhancing the financial viability of the energy sector. Activities included improving revenue management at the sector level, enhancing revenue collection at utility level, and Page 5 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT strengthening organizational structures while bolstering operational and financial management functions. Key activities included: 1.1 CWM: Finalizing the structuring and implementation arrangements of the CWM to ensure transparent revenue distribution among energy sector entities, with capacity building for stakeholders. 1.2 Electronic Billing and Collection: Designing and implementing e-billing/e-payment mechanisms for NEDCo to improve revenue collection and utility performance. 1.3 VRA Restructuring: Assisting in the design and implementation of a new structure for VRA to enhance operational efficiency and governance. 11. Component 2: Sector Planning and Coordination. With a budget of US$3.5 million equivalent, this component aimed to enhance planning and coordination across the energy sector. Activities included designing institutional arrangements, conducting technical studies, and providing capacity building. Key activities included: 2.1 Electricity Sector Assessment: Clarifying the roles and mandates of regulatory institutions and enhancing the coordinated planning and management capacities of power sector agencies. 2.2 Gas Sector Assessment: Reviewing regulatory frameworks, institutional setup, and commercial arrangements to support the sustainable development of the gas sector for the gas-to-power value chain, with capacity building for stakeholders. 2.3 Regional Power Trading: Identifying policy and regulatory reforms to strengthen regional power trading mechanisms, with capacity building for stakeholders. 2.4 Ghana Grid Company (GRIDCo) Grid Resilience Study: Identifying reforms and investments to enhance grid resilience and facilitate regional and renewable energy integration, with capacity building for stakeholders. 12. Component 3: Energy Access. This component, with a budget of US$2.0 million equivalent, focused on expanding energy access through grid extension, off-grid electrification, clean cooking initiatives, and upgrades to NEDCo's operational systems in support of grid extension efforts. Key activities included: 3.1 Investment Plan for Electrification: Developing a comprehensive investment plan for achieving universal electrification by 2030, encompassing both grid and off-grid solutions. 3.2 Safe Clean Cooking Strategy: Developing strategies to increase access to clean cooking solutions. 3.3 NEDCo’s Operational Systems Upgrade: Enhancing operational systems and efficiency, including updating distribution plans, standards, and construction specifications; implementing a Geographic Information System (GIS) for Techiman; and funding equipment and staff training. 13. Component 4: Natural Gas. With a budget of US$3.2 million equivalent, this component aimed to develop strategies for balancing natural gas demand and supply, reviewing the WAGP treaties, and supporting capacity building initiatives. Key activities included: 4.1 Gas Demand-Supply Strategy: Developing plans for gas aggregation and allocation of natural gas flow, including pricing models, pipeline capacity nomination, and allocation to power plants. Page 6 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT 4.2 WAGP Treaty Review: Evaluating operational and commercial aspects of the WAGP to optimize its utilization. 4.3 Capacity Building: Enhancing the capacity of gas sector agencies, such as GNPC and Ghana National Gas Company (GNGC), to reintegrate natural gas into the power sector, alongside vocational training initiatives to boost employment in oil and gas. 14. Component 5: Project Management. This component, with a budget of US$2.0 million equivalent, supported project implementation through the Project Implementation Unit (PIU), covering fiduciary, monitoring, reporting, and coordination responsibilities, including consultants’ engagement and operating costs. 15. Table 1 below presents the breakdown of the total US$20.0 million International Development Association (IDA) credit across the four components of the Project, showing both the original and revised allocations following restructuring. Table 1: Project Cost and Financing Revised IDA PROJECT COST IDA FINANCING PROJECT COMPONENTS Financing (US$ million) (US$ million) (US$ million) 1. Management of Energy Sector Financial 5.30 5.30 10.40 Flows 2. Sector Planning and Coordination 3.50 3.50 0.95 3. Energy Access 2.00 2.00 4.97 4. Natural Gas 3.20 3.20 1.32 5. Project Management 2.00 2.00 2.36 Follow-Up Activities and Contingencies 4.00 4.00 0.00 TOTAL PROJECT COST 20.0 20.0 20.0 B. SIGNIFICANT CHANGES DURING IMPLEMENTATION (IF APPLICABLE) Revised PDOs and Outcome Targets 16. At the GoG's request on May 20, 2022, the Project was restructured, leading to an amendment to the FA that was finalized and signed on June 27, 2022. Although the PDOs remained unchanged, the restructuring involved revisions to the Results Framework to reflect changes in activities supported by the Project and adjustments to the target end dates. The closing date was extended from December 31, 2022, to December 31, 2023, providing additional time for project completion and the achievement of results. Revised PDO Indicators 17. While most PDO indicators and targets remained unchanged, two were removed as their objectives were achieved independently of the Project. Due to delays in the Project’s effectiveness, PDO indicator 1.2, related Page 7 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT to NEDCo's e-billing/e-payment system, was excluded after project Component 1 shifted focus from funding NEDCo’s system design to developing an e-billing action plan, as NEDCo had already begun upgrades before the Project’s implementation. Similarly, PDO indicator 2.1, concerning the least-cost power expansion plan, was removed because the plan was prepared and endorsed before the Project began. Despite these removals, the intended outcomes were met, with NEDCo independently financing its system upgrades, and the power expansion plan being documented on the Ministry of Energy (MoEn) and Energy Commission’s (EC) websites. GESTIP supported these efforts by funding consulting for NEDCo’s e-billing action plan and providing the Power Planning Technical Committee with software and capacity building for future updates. Additionally, the IRIs were adjusted: a new IRI was added to project Component 1 to enhance GRIDCo’s network management communication capacity; IRIs related to electricity and gas sector assessments in Component 2 were replaced by a new IRI for Performance Improvement Plan (PIP) guidelines for the EC and PURC; and an IRI related to GRIDCo's grid resilience study was removed from Component 3. These adjustments ensured that the IRIs align with the restructured project activities, as detailed in the restructured Results Framework presented in Annex 1. Revised Components 18. The core structure of the project components remained unchanged, but many activities were modified or canceled during restructuring, with new ones added to support the government's ESRP. While some activities were agreed upon during appraisal, further detailing of the Project was anticipated after the government outlined the comprehensive ESRP plan, ensuring that the Bank's support was aligned with the changing sector priorities, and ensuring that the project remained relevant and effective. Activities under Components 1-4 were adjusted to meet the needs of the government and energy sector entities, with revised or new activities aligning with each component's objectives. The VRA restructuring under Component 1 was removed due to changes in government policy. Capacity-building activities, previously spread across components, were centralized under Component 5, now renamed 'Project Management & ESRP Implementation Support,' reflecting new activities and dedicated funding for ESRP-related capacity building and training. The Project's cost allocation was updated accordingly, with the original US$4.0 million for follow- up activities and contingencies reallocated to new activities and additional operational costs. Table 2 presents an updated overview of project components and activities, including details on their modification status. Annex 6 provides information on the sub-activities supporting these components and activities, as well as their completion and disbursement status. Table 2: Amended Project Components and Activities in the FA ACTIVITY DESCRIPTION MODIFICATION COMPONENT 1: MANAGEMENT OF ENERGY SECTOR FINANCIAL FLOWS - US$10.40 MILLION COMPONENT 1.1: CASH WATERFALL MECHANISM (i) CWM: Finalizing the structuring and implementation arrangements of the CWM to ensure transparent revenue distribution among stakeholders. (ii) Annual Audit and Legacy Debt Review: Conducting an annual review of legacy debt to validate Modified the debt/payable matrix, provide guidance on managing liabilities, and structure transactions for settling intra-sector payables. (iii) Technical Audit of Power Plants: Performing a technical audit to confirm the performance of Page 8 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT the plants and verify the bills received for payments. (iii) Streetlighting Assessment: Developing tools to periodically estimate the energy consumption costs attributable to streetlighting. COMPONENT 1.2: ELECTRONIC BILLING AND COLLECTION NEDCo E-billing Action Plan: Assessing electronic billing and payment strategies to optimize revenue and prepayments, focusing on developing a targeted plan to improve metering and Added billing operations. Electricity Company of Ghana (ECG) AMI Implementation: Evaluating technology for Advanced Metering Infrastructure (AMI) to protect revenues, recommending sustainable strategies, and Added preparing bid specifications. COMPONENT 1.3: IMPROVEMENT OF OPERATIONAL FUNCTIONS (i) GRIDCo's SCADA System Upgrade: Upgrading the Supervisory Control and Data Acquisition (SCADA) network to enhance capabilities for improved monitoring and control. 4 (ii) OMS and ERP Implementation: Facilitating the completion of supply and installation for both Added the Outage Management System (OMS) and Enterprise Resource Planning (ERP) System for ECG. 5 (iii) PIP Development: Developing a PIP to enhance the capacities of regulators in the electricity supply sector. COMPONENT 2: SECTOR PLANNING AND COORDINATION - US$0.95 MILLION COMPONENT 2-1: ELECTRICITY SECTOR ASSESSMENT AND SUPPORT FOR IMPLEMENTING RECOMMENDATIONS VoLL Assessment: Estimating the Value of Lost Load (VoLL) for electricity in Ghana to help PURC Added assess socio-economic impacts of power interruptions and inform decision-making. COMPONENT 2.2: GAS SECTOR ASSESSMENT AND SUPPORT FOR IMPLEMENTING RECOMMENDATIONS Petroleum Products Price Build-Up Review: Analyzing the price structure for petroleum products in Ghana to establish optimal margins for marketers and dealers, and to guide financial model Added development. CRM M&E Framework Development: Developing a monitoring and evaluation framework for the Cylinder Recirculation Model (CRM) to measure the impact of the liquefied petroleum gas Added promotion policy effectively. Liquefied Petroleum Gas (LPG) Behavioral Change and Public Awareness Strategy: Developing strategies to support the National Petroleum Authority (NPA) in overcoming barriers to CRM Added implementation. COMAH Regulations Development: Crafting Control of Major Accident Hazards (COMAH) Added regulations for the electricity and natural gas sectors to prevent and mitigate major accidents. COMPONENT 3: ENERGY ACCESS - US$4.97 MILLION COMPONENT 3.1: INVESTMENT PLAN FOR ELECTRIFICATION Infrastructure Feasibility and Investment Planning: Conducting studies for grid extension, off-grid Initially Planned and electrification, geospatial mapping, and fiber optic broadband, including relevant training. Retained COMPONENT 3.2: SAFE CLEAN COOKING STRATEGY National Clean Cooking Strategy: Developing a strategy to enhance access to safe, clean cooking Initially Planned and by establishing regulatory and incentive structures. Retained National LPG Promotion Program Manual Preparation: Developing a manual for implementing the Added national liquefied petroleum gas promotion program. 4 This activity, which began under GEDAP (P074191), has been transferred to and completed under GESTIP. 5 These activities, initially launched under GEDAP (P074191), were transferred to and completed under GESTIP. Page 9 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Stove Testing Laboratory Needs Assessment: Conducting a needs assessment for the Kwame Nkrumah University of Science and Technology - Technology Consultancy Centre (KNUST-TCC) Added cook stove testing laboratory to equip it for regulating the cook stoves and fuels market. COMPONENT 3.3: NEDCO’S OPERATIONAL SYSTEMS UPGRADE NEDCo System Master Plan: Conducting studies to upgrade NEDCo's sub-transmission, distribution, and operational systems, developing plans to enhance operational efficiency, and Initially Planned providing relevant equipment and training to NEDCo staff. NEDCo Network Protection Study: Conducting an assessment of NEDCo's network protection and coordination to identify requirements for cost-effective power system development, ensure Added safety for equipment and personnel, and improve power supply reliability. NEDCo Energy and Demand Forecast Study: Reviewing current methodologies for energy and peak demand forecasting and developing a software model to conduct forecasts using available Added data and systems. COMPONENT 4: NATURAL GAS - US$1.32 MILLION (i) Gas Demand-Supply Strategy: Developing plans for gas aggregation and allocation of natural gas flow, including pricing models, pipeline capacity nomination, and allocation to power plants. (ii) WAGP Treaty Review: Evaluating operational and commercial aspects of the WAGP to Modified optimize its utilization. (iii) Tema Gas Distribution Franchise: Conducting a study to establish a natural gas distribution franchise in Tema. COMPONENT 5: PROJECT MANAGEMENT & ESRP IMPLEMENTATION SUPPORT - US$2.36 MILLION COMPONENT 5.1: PROJECT MANAGEMENT (i) Project Management Capacity Building: Enhancing MoEn's capabilities in fiduciary management, monitoring, reporting, and coordination. (ii) Communications Strategy Development: Developing and implementing a communications strategy for the energy sector. (iii) Training and Consultation Workshops: Organizing training and consultation sessions, along Modified with coordination workshops. (iv) Operating Costs Financing: Funding PIU's operating expenses. (v) Office Infrastructure Procurement: Acquiring and setting up a prefabricated office to provide adequate space for the project. 6 COMPONENT 5.2: ESRP IMPLEMENTATION SUPPORT Building and Support: Providing training to energy sector staff and procuring software and small Added equipment for business operations to support project implementation. Other Changes 19. Change in Disbursement Estimates and Implementation Schedule: Disbursement estimates, and the implementation schedule were revised to reflect the extended closing date. 6 This activity was initially launched under GEDAP (P074191), and was completed under GESTIP. Page 10 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT 20. Change in Environmental and Social Risk Rating: The transfer of four activities 7 from GEDAP, including ERP, OMS 8, SCADA 9, and the prefabricated PIU office 10, prompted a reassessment of environmental and social risks. This resulted in a shift in the risk rating from Low to Moderate and an elevation of the environmental assessment categorization to Category B. 21. Change to Legal Covenants: A new legal covenant was introduced to ensure compliance with safeguard instruments and project implementation requirements. Rationale for Changes and Their Implication on the Original Theory of Change 22. The restructuring of the Project was driven by evolving priorities and beneficiary needs, aligning with the overarching goals of the ESRP, whose specific action plans were not fully defined at the time of the Project’s appraisal. As these plans took shape, sector entities requested adjustments to project activities within the components to better align with the ESRP’s objectives. Initially, GESTIP was designed with flexibility to respond to the government’s evolving reform strategies, particularly those outlined in the ESRP. Consequently, not all project funding was fully earmarked at the outset, with the expectation that new activities aligned with the Project’s PDOs and the ESRP's reform agenda would be introduced over time based on beneficiary needs. This materialized, and by February 2022, the GESTIP Steering Committee had approved a full list of project activities, utilizing the entire project allocation. Restructuring was needed due to new activities requiring a change in safeguards risk rating, the removal of initial activities already completed or altered by government policy changes, and updates to the Results Framework. Additionally, delays caused by the COVID-19 pandemic, as well as prolonged consultant selection and output review processes, led to slower disbursements, necessitating an extension of the Project’s closing date. By the time of restructuring, six months before the original closing date in December 2022, only US$7.80 million, or 40.1% of the allocated funds, had been disbursed. II. OUTCOME A. RELEVANCE OF PDO Assessment of Relevance of PDOs and Rating 7 Although contracts for these four activities were amended to align with GEDAP's closing date, the original scope was not fully realized, resulting in a funding gap of US$2.62 million. The government sought World Bank assistance through GESTIP to complete these activities. 8 Activities involving OMS and ERP have raised a Moderate risk rating due to concerns related to e-waste management, deployment of management information systems, procurement processes, occupational safety, sexual exploitation, and data leakage. 9 The upgrade of GRIDCo’s SCADA system incurred Moderate risk, primarily due to e-waste management and procurement of goods and services. 10 The prefabricated office works, involving limited civil works, have triggered Moderate environmental and social risks. Page 11 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT 23. The PDOs were well-aligned with the World Bank’s CPS for Ghana FY2013-FY2016, supporting its first two pillars: (i) improving economic institutions and (ii) enhancing competitiveness and job creation. Specifically, the PDOs aimed to strengthen the power sector's capacity for implementing sector reforms and improving energy sector planning and coordination, which were intended to enhance overall sector performance. This alignment remained relevant throughout the Project’s implementation, as its activities continued to support the Country Partnership Framework (CPF) for FY22-FY26 11 . The current CPF underscores the financial and operational challenges within the energy sector and the importance of its fiscal impact. The PDOs and project activities align with the CPF’s objectives 1.3, 2.3 and 3.1, which emphasize enhanced operational efficiency in the energy sector, improved delivery of basic services in underserved urban areas, and strengthened macroeconomic and fiscal management, respectively. 24. Despite the challenges, the Project maintained High relevance to the PDOs through adaptable and responsive strategies. The preparation and implementation were particularly demanding, involving the design and selection of a large number of technically complex activities that needed to address the requirements of various sector institutions while ensuring the Project’s contribution to the country’s high- level objectives. As sector policies and institutional priorities shifted, the Project remained highly responsive, adapting by canceling and adding activities as necessary. All changes were formalized in the 2022 restructuring, ensuring the continued relevance of the PDOs. Therefore, the relevance of the PDOs is rated as High throughout the implementation process. B. ACHIEVEMENT OF PDOs (EFFICACY) Assessment of Achievement of Each Objective/Outcome 25. The Project restructuring of 2022 led to revisions in the Results Framework, including the replacement or exclusion of some indicators and adjustments to target dates. These changes were made to address evolving priorities and needs of beneficiaries. Importantly, the restructuring did not alter the quantitative targets or shift towards less ambitious objectives. Rather, it adapted to a more clearly defined ESRP, thereby strengthening the Project’s alignment with and contribution to ongoing government reform efforts, while remaining consistent with the PDOs. 26. At Project completion, all end-targets for the PDO indicators were achieved, as were nine of ten IRIs. Additionally, four of the five IRIs with quantitative end-targets were surpassed. It is noted that while two PDO indicators were dropped during the restructuring—the implementation of an e-billing/e-payment system by NEDCo and the sector coordination body’s endorsement of a least-cost power expansion plan— these activities were successfully completed through the government’s own initiatives thus demonstrating its commitment to the Project objectives. These actions ensured that all originally planned PDO indicators were fully realized. The Project is assessed on its own merits, excluding the dropped PDO indicators as shown in Table 3. The removal of these two indicators did not impact the Project assessment—since all revised 11 https://documents1.worldbank.org/curated/en/823041645721495743/pdf/Ghana-Country-Partnership-Framework-for-the-Period- of-FY22-FY26.pdf Page 12 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT PDO indicators were met—nor did it affect the government's objective to strengthen power sector capacity and improve planning and coordination, as the associated activities were completed. 27. Assessing the achievement of PDOs in a TA project involves verifying that project activities are causally linked to the PDOs and confirming the utilization of outputs. The activities were well-crafted to align with the PDOs and achieve the intended outcomes. The restructuring process confirmed that these activities were tailored to support the government’s high-priority reform and address beneficiaries' pressing needs. Given the government’s strong commitment to the ESRP and the beneficiaries' ownership, the Project’s outputs are expected to be effectively utilized. Outputs such as CWM, SCADA, ERP, and OMS are already being used by several beneficiaries. Key findings from technical studies, such as the Legacy Debt Review and the Gas Demand-Supply Study, guided the government in developing a sector-wide debt-clearing plan and revising the Gas Sales Agreement (GSA) with N-Gas Limited 12 (N-Gas). These actions have advanced sector reforms, improved planning, and enhanced coordination. Table 3: Achievement of PDOs RESULTS INDICATOR BASELINE END TARGET ACHIEVEMENT PDO-SUBOBJECTIVE 1: STRENGTHEN THE CAPACITY OF THE ENERGY SECTOR TO IMPLEMENT SECTOR REFORMS PDO INDICATORS Power sector revenue allocated to sector entities through the CWM 0% 100% 100% Electrification strategy and investment plan for remote areas is No Yes Yes adopted and communicated to stakeholders Clean cooking strategy is adopted and communicated to No Yes Yes stakeholders PDO-SUBOBJECTIVE 2: IMPROVE ENERGY SECTOR PLANNING AND COORDINATION PDO INDICATORS Strategy for competitive tendering of gas/LNG volumes for balancing gas supply and demand for power plants is adopted and No Yes Yes communicated to stakeholders INTERMEDIATE RESULTS INDICATORS BY PROJECT COMPONENT COMPONENT 1: MANAGEMENT OF ENERGY SECTOR FINANCIAL FLOWS No. of sector staff trained (male and female) 0 50 137 of which female 0 10 37 Citizen engagement: Number of citizen engagement meetings held 0 2 3 Percentage of participants in citizen engagement meetings who 0% 50% 92.3% consider their views have been taken into account Increased communication capacity of GRIDCO’s Network 80 200 200 Management System COMPONENT 2: SECTOR PLANNING AND COORDINATION Performance Improvement Plan (PIP) Guidelines for Energy No Yes Yes 12 N-Gas Limited is a private company that delivers Nigerian gas to Ghana. It is a joint venture of Chevron, Shell, and the Nigerian National Petroleum Corporation (NNPC). Page 13 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Commission and PURC prepared COMPONENT 3: ENERGY ACCESS NEDCo's distribution system plan updated No Yes Yes Update of NEDCo's distribution specifications and construction No Yes Yes standards complete Gender. The strategic assessment of electrification options outlines the impacts of different electrification strategies on women and No Yes No women’s entrepreneurship\income generation COMPONENT 4: NATURAL GAS Gas supply and demand study completed No Yes Yes Justification of Overall Efficacy Rating 28. The Project’s overall efficacy is rated as Substantial. This rating is justified by the significant achievement of PDO targets, the government’s strong commitment to sector reform, demonstrated ownership by beneficiaries, and the effective utilization of key outputs. C. EFFICIENCY Assessment of Efficiency and Rating 29. Given that the Project comprised a set of TA activities rather than infrastructure investments generating cash flows, it did not lend itself to traditional economic and financial analyses, such as calculating the Net Present Value (NPV) or financial and economic rates of return for a particular investment. Most TA activities focused on conducting assessments, developing strategies, and implementing management tools to provide essential technical, policy, legal, and regulatory guidance aimed at improving sector planning, financial management, operational efficiency, and regulatory compliance. However, several TA outputs have already yielded—or have the potential to yield—significant economic and financial benefits for the sector, as evidenced by the following cases: (i) The activities associated with the CWM supported its implementation to ensure the systematic and equitable and transparent allocation of electricity sales revenue among stakeholders. Since August 2023, ECG has made over 94% of its payments up to February 2024, though recent months have shown a gradual decrease. PURC has validated these transactions monthly, significantly boosting liquidity and payment predictability and transparency across the sector value chain; (ii) The ESRP activities supported by the Project yielded substantial savings by relocating the 450 MW Karpowership barge from Tema to Takoradi in 2020 to use domestic natural gas instead of heavy fuel oil (HFO), saving over US$100 million per year, and by completing the Takoradi-Tema Interconnection Project, which enabled the flow of natural gas—replacing HFO and light crude oil (LCO)—to seven thermal plants in the eastern part of the country, reducing fuel costs by an additional US$90 million in 2020 alone; (iii) The Gas Demand-Supply Study, which assessed natural gas needs for gas-fired power plants, led VRA to revise its daily take-or-pay obligation in the GSA with N-Gas from 90 million standard cubic feet per day (MMscf/d) Page 14 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT to 60 MMscf/d, significantly easing financial pressure on the sector and reducing payment obligations by approximately US$3.1 billion between 2020 and 2023; and (iv) The Annual Audit and Legacy Debt Review assisted the government in validating contested debts, managing liabilities, and structuring transactions to settle intra-sector payables. It identified sector-wide legacy debt totaling US$1,624 million as of the end of 2022, prompting the government to adopt a payment plan to clear these arrears, thereby strengthening the sector's financial discipline and viability. 30. Beyond these specific cases, GESTIP's influence extended to shaping subsequent World Bank and IMF lending operations, all aimed at the financial recovery of Ghana’s energy sector. These include the IMF’s US$3 billion Extended Credit Facility (ECF), with an initial US$600 million approved in May 2023; the World Bank’s US$900 million First Resilient Recovery Development Policy Financing (DPF) series, with the first US$300 million tranche 13 approved in January 2024; and the US$260 million Ghana Energy Sector Recovery Program (P173258, ESRP) PforR approved in June 2024. Key findings from the Project informed the design and components of these operations, while the ESRP (P173258) financial model managed by the Project provided essential baselines and impact measures. This demonstrates the effectiveness of the TA provided and underscores its strategic importance in driving sector-wide reforms and supporting recovery efforts. 31. The Project’s design and implementation prioritized resource efficiency by leveraging the existing PIU, which had a proven track record from the previous GEDAP operation. By reappointing experienced staff familiar with managing IDA-financed projects, the Project minimized the time and resources needed to establish a fully operational team, ensuring smooth and streamlined project operations. 32. The Project’s efficiency is rated as Substantial. This rating reflects the significant potential for economic and financial benefits that could derive from the broad range of TA activities, the Project’s influence on subsequent lending operations, and the efficient use of resources. It highlights the Project’s success in maximizing the impact of its TA activities and its substantial contribution to the long-term recovery and stability of the energy sector. D. JUSTIFICATION OF OVERALL OUTCOME RATING 33. The Project’s overall outcome is rated Satisfactory. 14 This rating reflects its continued high relevance, substantial achievement of the PDOs and targets, strong government commitment to reform and beneficiaries’ ownership, potential economic and financial benefits directly stemming from the Project’s activities, contributions to subsequent lending operations, and efficient use of resources. 13 Ghana First Resilient Recovery Development Policy Financing (P180718) 14ISR Seq No: 11, which was cleared in July 2024 after the Project closing date, has not been archived in the ICR Rating section, as it was submitted post-closure. This ISR upgraded the progress toward achievement of the PDO from Moderately Satisfactory in the previous ISR to Satisfactory, reflecting disbursements and implementation progress following the restructuring. Overall Implementation Progress (IP) remained Moderately Satisfactory, as in the previous ISR Seq No: 10. Page 15 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT E. OTHER OUTCOMES AND IMPACTS (IF ANY) Gender 34. The Project made progress in advancing gender inclusivity within Ghana's energy sector. Of the 137 staff trained across the MoEn and sector agencies, 37 were women, comprising 27 percent of the total—well above the Project's target of 10 female participants. Women participated in various training programs focused on energy planning, project management, financial reporting, communication, and organizational strategy, as well as leadership training tailored to women’s roles in the energy industry. This initiative has the potential to reduce gender disparities in this traditionally male-dominated sector and promote greater female representation in leadership positions. Institutional Strengthening 35. The Project significantly enhanced the institutional capacity of Ghana's energy sector. Through comprehensive assessments, the development of strategic frameworks, and the implementation of advanced management tools, the Project provided essential guidance to sector institutions across technical, financial, policy, legal, and regulatory dimensions. By deploying management systems like SCADA, OMS, and ERP, the Project also improved operational efficiency and decision-making capabilities within these institutions. Additionally, the training of 137 staff members significantly bolstered technical and managerial capacities across various agencies. These efforts have strengthened the sector’s capacity to manage reforms, enhance strategic planning, and improve coordination. The institutional enhancements achieved through the Project are expected to support long-term sustainability and resilience, equipping sector institutions to meet current needs and address future challenges and opportunities. Mobilizing Private Sector Financing 36. The Project played a crucial role in improving the investment climate for Ghana's energy sector by establishing clear regulatory frameworks and a predictable payment structure. The successful implementation of the CWM ensured systematic revenue distribution across the sector's value chain, including payments to private investors— particularly IPPs, who hold priority agreements in the predefined payment order. Although the sector's overall landscape remains a work in progress, the Project has set the stage for further private sector engagement by supporting the ESRP, which aims to enhance the sector's financial viability and performance. The ongoing impact of these efforts is expected to contribute to a more stable and attractive investment environment as reforms progress. Poverty Reduction and Shared Prosperity 37. GESTIP's contributions to poverty reduction and shared prosperity are indirect, primarily through improving the efficiency and reliability of the energy sector. These enhancements are expected to foster economic growth and improve livelihoods across communities. Page 16 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT III. KEY FACTORS AFFECTED IMPLEMENTATION AND OUTCOME A. KEY FACTORS DURING PREPARATION 38. Flexibility was a central consideration in GESTIP’s design, given the dynamic and evolving nature of sector- wide reforms. The Project incorporated mechanisms such as unallocated funds for contingency planning and restructuring options to accommodate unforeseen changes and shifting priorities. Legal agreements were structured to allow for necessary adjustments, ensuring that the Project remained responsive to Ghana’s evolving energy sector challenges. These provisions facilitated timely realignments, ensuring that interventions remained aligned with the government’s reform agenda and continued to contribute to the achievement of the PDO throughout implementation. 39. Capacity-building initiatives were integrated into the Project’s design to ensure that tools developed by consultants were fully adopted and utilized in the daily operations of sector agencies. Additionally, the Project included components that delivered immediate and visible benefits, fostering beneficiary ownership and reinforcing support for broader energy sector reforms. This strategic combination of early wins and targeted capacity-building was critical in maintaining momentum and ensuring alignment with the sector’s urgent priorities. 40. Given the complexity and broad fiduciary requirements of GESTIP, a dedicated PIU staffed with experienced external consultants, well-versed in World Bank procedures, was established to manage core responsibilities. The PIU ensured effective coordination and oversight of procurement processes and financial management, while integrating cross-sectoral expertise, including social and gender specialists, under the strategic guidance of the MoEn. This capacity proved particularly crucial during the restructuring phase, when the PIU effectively handled shifting priorities by canceling activities and managing new procurement processes. By expertly managing these complex procurement tasks, the PIU played a key role in maintaining the Project’s momentum and ensuring alignment with evolving sector needs. To ensure long- term sustainability, a capacity transfer from the PIU to MoEn was planned, with Procurement and Financial Management (FM) specialists in the PIU training MoEn staff to gradually transition to Ghana’s country systems. 41. The Steering Committee was another key component of the Project’s governance structure, ensuring leadership and institutional ownership across energy sector entities. Chaired by a Deputy Minister of Energy and comprising high-level representatives from key sector agencies, the committee provided strategic guidance, coordinated activities, and oversaw the Project’s multi-sectoral components. Its responsibilities included aligning project activities with national energy reforms and institutional priorities while fostering collective decision-making. Although the committee was scheduled to meet at least twice a year, infrequent meetings initially slowed decision-making and delayed issue resolution. Following the World Bank’s recommendation, the committee increased its meeting frequency, resulting in better coordination and faster decision-making. This proactive engagement, especially during restructuring, was critical for realigning project activities, making timely decisions, ensuring effective cross-agency coordination, and keeping the Project aligned with sector priorities. Page 17 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT B. KEY FACTORS DURING IMPLEMENTATION 42. The project encountered several critical factors that influenced its implementation. These factors are categorized into those under the control of the government and/or implementing entities, those under the control of the World Bank, and external factors. Factors subject to the control of the government and/or implementing entities include: 43. During the implementation phase, several functions—particularly fiduciary and procurement tasks—initially managed by the PIU were earmarked for gradual transition to MoEn staff to support the Project’s sustainability objectives. Capacity-building initiatives aimed to strengthen MoEn staff’s expertise in procurement, financial management, and key operational areas, with the goal of embedding these functions into MoEn’s daily operations. Despite these training efforts, the envisioned transfer of responsibilities was only partially achieved by Project closure. MoEn staff, already managing full-time workloads, encountered challenges in assuming additional Project duties, limiting their capacity to fully adopt these roles. This constrained progress toward using Ghana’s country systems for Project management and financial oversight as initially planned. Consequently, the PIU retained responsibility for core functions, highlighting the importance of a more incremental capacity-building approach for effective transition in future projects. 44. While the centralized implementation approach under the PIU, reporting to MoEn, was designed for efficiency, gaps in communication with working-level staff within beneficiary institutions led to delays in implementation. Despite the presence of focal points and regular bi-weekly calls, delays persisted, particularly in the review of Terms of Reference (TOR) and consultant outputs. These delays were largely due to the absence of formalized mechanisms to ensure timely and consistent engagement with working-level staff. The heavy workload of focal points, coupled with competing institutional responsibilities, further contributed to bottlenecks, slowing the review process. While the Steering Committee provided strategic guidance, its composition of high-level representatives limited direct interaction with working-level staff responsible for day-to-day activities. Similarly, although the Technical Committee helped resolve certain operational challenges, its role was insufficient to fully address these communication gaps. As a result, communication with working-level staff was often ad-hoc, typically initiated only when issues arose, leading to inefficiencies and delayed responses. Addressing these communication challenges was recognized as critical for overcoming implementation bottlenecks and ensuring the timely completion of project activities. Factors subject to the control of the World Bank include: 45. The World Bank demonstrated significant adaptability during the implementation of GESTIP, ensuring the Project could respond to the evolving priorities of the government while maintaining alignment with the PDOs. This adaptability was particularly critical during the restructuring phase, when the Bank facilitated necessary adjustments to project activities and the reallocation of resources. By supporting these changes, the Bank helped ensure that the Project remained responsive to the shifting needs of Ghana’s energy sector while continuing to advance long-term reform objectives. The proactive approach taken by the Bank during Page 18 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT restructuring played a key role in sustaining the relevance of the Project, allowing it to maintain momentum despite evolving challenges in the sector. 46. Another critical contribution from the Bank was recommending the inclusion of local partnership requirements in the TOR for consultants. Recognizing that local consultants or consulting firms bring essential knowledge of the country’s context, the Bank sought to strengthen stakeholder engagement and improve the practical application of the Project’s outputs. By incorporating local expertise into consultancy teams, the Bank enhanced communication between consultants and beneficiary institutions, ensuring that project activities were better aligned with the specific needs and realities of the energy sector. This approach also promoted capacity-building within local institutions, as local experts transferred their skills and knowledge to beneficiary institutions, fostering long-term sustainability in the sector. The involvement of local partners not only facilitated better communication and stakeholder alignment but also helped build the capacity of local institutions to manage and sustain sector reforms beyond the Project’s completion. External Factors include: 47. The COVID-19 pandemic significantly impacted project execution, with movement restrictions leading to delays in procurement, particularly in proposal evaluations, some of which were delayed for up to a year. Prior to the pandemic, evaluations were conducted through in-person meetings, which allowed for more direct and efficient discussions. However, when COVID-19 restrictions necessitated a shift to online evaluations, the process progressed more slowly than expected due to the challenges of remote work. To expedite the evaluation process, the PIU eventually transitioned back to in-person meetings, while adhering to COVID-19 safety protocols. 48. The following timeline, presented in the box below, outlines the evolution of the ESRP during GESTIP implementation, highlighting the sector's challenges and the variable interim outcomes, which are external to GESTIP's PDO and IRI achievements. While not directly linked to GESTIP, the Project was designed to support the recovery program and played a key role in advancing sector progress. Recognizing both the achievements and gaps in the program is essential to understanding the sector’s recovery. These are summarized in the attached box, illustrating the evolution of outcomes. The timeline offers a comprehensive view of these dynamics, emphasizing both the persistent ESRP challenges and GESTIP’s strategic contributions to the sector’s ongoing recovery. Box 1: Evolution of the ESRP: Key Challenges and GESTIP’s Contributions COMPREHENSIVE TIMELINE OF THE ENERGY SECTOR RECOVERY PROGRAMME (ESRP) REFORM PROCESS AND KEY CHALLENGES YEAR EVENT/DEVELOPMENT KEY CHALLENGES - Financial Sustainability: The sector faced severe financial challenges, with the energy sector struggling to meet its fiscal needs. - High Generation Costs: High electricity generation costs were driven by 2019 Approval of ESRP (2019-2023) non-competitive procurement, particularly expensive emergency power contracts and excess thermal generation capacity. - Initial Sector Arrears: The sector was struggling with substantial arrears Page 19 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT to IPPs, fuel suppliers, and utilities. - CWM Implementation: The CWM was introduced in April 2020 to prioritize payments to key stakeholders. However, it faced non- compliance and delays in payments to IPPs, fuel suppliers, and other utilities, undermining its effectiveness in addressing sector liquidity Implementation of CWM (April issues. 2020 2020) - Distribution Losses: High technical and commercial losses (~27% for ECG) and low collection rates (~85%) continued to hinder the sector’s financial health. - Debt and Fiscal Challenges: The sector’s fiscal deficit continued to grow due to high operational costs and low revenue collection. - Non-Compliance with CWM: Continued issues with non-compliance led to delays in payments, exacerbating liquidity and sector stability issues. - Persistent Fiscal Deficits: Fiscal transfers continued, and the sector struggled to achieve financial sustainability despite initial reforms. ESRP continued but faced - Inefficient Power Dispatch: Inefficient scheduling and dispatch of 2021 governance challenges generation continued to increase costs, which were not passed through in tariffs, leading to operational inefficiencies. - Weak Governance: Slow progress on governance reforms and weak institutional coordination continued to undermine sector transformation efforts. - 90% Tariff Increase: A 90% increase in tariffs was implemented between 2022-24, but they remained below cost-recovery levels, exacerbating the financial shortfall. - High-Cost Thermal Generation: The sector continued to depend heavily Tariff Adjustments and Sector 2022 on high-cost thermal generation (60% of the energy mix), which limited Financial Strain the ability to reduce generation costs. - Non-Competitive Procurement: New generation capacity continued to be procured through negotiated agreements, further increasing costs and undermining efforts to reduce the sector’s financial deficit. - Improvement in CWM: The CWM guidelines were revised in August 2023 with GESTIP support, thereby improving its implementation. ECG improved payments into the CWM. According to the CWM monthly validation reports published by PURC, payments into the CWM from ECG remained steady through September 2024. A quarterly audit of CWM funds flows starting in Q3 2023 was introduced under the IDA- financed Resilient Recovery Development Policy Financing series to introduce transparency and independent validation consistent with CWM guidelines. - Distribution Losses and Low Collection Rates: Despite improvements in 2023 Revision of CWM (August 2023) CWM compliance, high technical losses (~27%) and low collection rates (85%) continued to place financial strain on utilities. - Increased Financial Transfers: The fiscal burden remained high due to continued fiscal transfers to cover sector shortfalls. The need for these transfers highlighted the persistent challenges in achieving financial sustainability. - Continued High-Cost Generation: The sector’s reliance on high-cost thermal generation and inefficient procurement practices persisted, contributing to an unsustainable cost structure. - Financial Shortfall: The energy sector shortfall was measured with the Page 20 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT support of GESTIP, estimated at over US$ 2 billion annually between 2023-2027 under a business-as-usual scenario. - Debt Sustainability: The financial health of the sector continued to be strained, with ECG’s cost recovery ratios ranging from 48% to 61% in 2023. - ESRP Extension: The ESRP was extended to 2025 by the Government of Ghana due to delays in achieving its objectives and the need for continued reforms. - Foundations for Subsequent Investments: GESTIP laid the foundation for key sector investments aimed at tackling ongoing sector issues. These include the IMF’s US$3 billion ECF, the World Bank’s US$900 million Resilient Recovery DPF series (first US$300 million tranche approved in January 2024), and the US$260 million ESRP PforR GESTIP's Strategic Influence on (approved in June 2024). 2023-2024 Subsequent Investments - Impact on Design and Operations: Key findings from GESTIP informed the design and components of these operations, with the ESRP financial model providing essential baselines and impact measures., while the annual Energy Sector Validation Audits managed by the Government formed the basis for recommending a payment plan to clear intra- sectoral payables for energy purchases. - Projected Reduction in Deficit: If key ESRP actions are fully implemented, the sector’s financial shortfall is expected to be reduced to US$ 4.9 billion by 2027 (World Bank estimates), though the sector’s financial health remains fragile. - Further Reforms Needed: Continued structural reforms, such as improving dispatch efficiency, reducing distribution losses, integrating renewable energy, and ensuring competitive procurement of energy Ongoing ESRP Implementation 2024-2025 supply in a sustainable and least cost manner are essential for and Projected Deficit Reduction achieving long-term sustainability. - Governance and Compliance: Strengthened governance, full adherence to the CWM, and better coordination across sector institutions are critical to ensuring the success of the ongoing reforms. - Private Sector Investment: The introduction of competitive procurement for both thermal and renewable generation capacity remains key to reducing the sector’s reliance on public funds. IV. BANK PERFORMANCE, COMPLIANCE ISSUES, AND RISK TO DEVELOPMENT OUTCOME A. QUALITY OF MONITORING AND EVALUATION (M&E) M&E Design 49. The M&E design is rated Substantial. At Project appraisal, the Results Framework was concise, comprising five PDO indicators and eleven intermediate indicators, all of which clearly captured the Project’s objectives and anticipated outcomes. Following the restructuring in June 2022, the M&E framework was updated to reflect newly added activities, with the PDO indicators revised from five to four, and the intermediate Page 21 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT indicators adjusted from eleven to ten. The framework was well-structured, with realistic and measurable targets. The arrangements for its implementation, as outlined in the PAD, were sound and appropriate for ensuring effective monitoring. Responsibility for M&E was assigned to the PIU, which was required to prepare quarterly progress reports for both the World Bank and the Steering Committee. These reports were developed based on a results monitoring plan agreed upon at the outset of the Project. The PIU consolidated inputs from multiple stakeholders, including ECG, NEDCo, GRIDCo, GNPC, GNGC, EC, NPA, and PURC. These progress reports provided status updates on the results indicators, action plans, and any corrective actions required, including clear deadlines and designated responsible personnel. This system ensured that the World Bank remained informed of Project progress, with the evaluation of results indicators regularly incorporated into supervision missions. M&E Implementation 50. M&E Implementation is rated Substantial. The Results Monitoring Framework, established before Project effectiveness, provided a solid foundation for tracking the Project’s progress. The GESTIP PIU took the lead in monitoring the Project, working through focal teams assigned to each task and maintaining regular engagement via bi-weekly phone calls with team leaders to assess progress. A Technical Committee, comprising representatives from key beneficiary institutions such as GRIDCo, ECG, NEDCo, PURC, and EC, met quarterly to discuss progress and address implementation challenges. A Midterm Review (MTR) was conducted on August 10, 2020, to assess overall progress, the relevance of the PDO, the project design, and compliance with fiduciary and safeguard requirements. The MTR concluded that a restructuring was necessary to incorporate newly added activities from GEDAP, revise the Results Framework, update the environmental and social categorization, and extend the closing date to ensure the PDO's achievement. During the restructuring phase, the monitoring approach was intensified, with quarterly progress reports replaced by monthly progress checks, ensuring more frequent oversight and responsiveness to emerging issues. Findings from these checks were shared with the World Bank during online meetings and reported to the Steering Committee, ensuring timely adjustments to the Project. M&E Utilization 51. M&E Utilization is rated Substantial. Throughout the Project’s lifecycle, M&E data were consistently reported in Implementation Support Reports (ISRs), Aide-Memoires, and Progress Reports. These data were pivotal in informing decision-making and guiding adjustments to the Project, ensuring alignment with the PDO. M&E findings were particularly important for tracking performance, identifying delays, and facilitating timely interventions. When issues were identified—such as delays in implementation—M&E data enabled the team to adjust Project ratings and hold discussions with World Bank management and stakeholders on strategies for improving progress. In the latter years of implementation, M&E data continued to play a key role in driving restructuring decision-making, although challenges persisted. These challenges included changes in priorities among beneficiary institutions, staff turnover, and disruptions caused by the COVID-19 pandemic, which delayed field data collection and site visits. Despite these difficulties, the utilization of M&E remained effective in ensuring that Project adjustments were data-driven and responsive to emerging issues. Page 22 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Justification of Overall Rating of Quality of M&E 52. The overall quality of M&E is rated Substantial, reflecting Substantial ratings for M&E design, implementation, and utilization. The M&E system was well-structured, providing a simple yet effective framework for tracking progress toward the PDOs. The design ensured that indicators were clear, measurable, and aligned with the Project’s objectives. M&E data were regularly collected, analyzed, and discussed with key stakeholders, allowing for timely adjustments and ensuring that the Project remained on track to achieve its development objectives. The robust utilization of M&E data, particularly in decision-making and course corrections, contributed significantly to the successful management of the Project. B. ENVIRONMENTAL, SOCIAL, AND FIDUCIARY COMPLIANCE Environmental and Social Safeguards 53. Environmental and social safeguards compliance was managed effectively throughout the Project. At appraisal, the Project presented no expected compliance issues under the World Bank Safeguard Policy OP 4.01 on Environmental Assessment and was initially categorized as Environmental Category C, with no adverse environmental impacts anticipated. The Project’s environmental and social risk was rated as Low in October 2018. Following the restructuring in June 2022—which added ERP, OMS, SCADA activities from GEDAP, along with prefabricated PIU office activities—the risk rating was updated to Moderate and remained at that level through closure. The restructuring led to a reclassification of the Project to Category B, requiring a partial environmental assessment and triggering the OP 4.01 safeguard. The Project complied with this policy, maintaining Moderately Satisfactory safeguard compliance for the last three ISR sequences. 54. The PIU prepared Environmental and Social Management Plans (ESMPs) to address new activities and updated the Grievance Redress Mechanism (GRM). By April 2023, the GRM became operational with two communication lines and a Grievance Redress Mechanism Committee (GRMC) established to review any complaints. While no grievances were recorded, the PIU ensured the GRM was fully functional and accessible. The PIU maintained sufficient capacity to implement safeguards requirements, focusing on environmental and social (E&S) management, gender, social inclusion, and citizen engagement activities. However, limited commitment to E&S aspects from certain beneficiary agencies occasionally led to delays, as E&S specialists within these agencies often prioritized their core responsibilities over Project-related tasks, resulting in delays in meeting timelines. The Project emphasized the importance of involving stakeholders and regulators from the design phase to provide clarity and expedite licensing and permit processes. Financial Management (FM) 55. The Project maintained satisfactory FM practices, consistently meeting audit and reporting requirements. FM performance received ratings of ‘Satisfactory’ and ‘Moderately Satisfactory’ throughout implementation. The PIU submitted quarterly Financial Management Reports via Client Connection and produced annual Financial Statements, fulfilling audit submission requirements each year. In the latter stages of implementation, FM ratings Page 23 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT were downgraded to ‘Moderately Satisfactory’ due to workspace limitations that necessitated storing project documents at a secondary site at the MoEn, among other factors. Key areas for improvement included transitioning to government accounting standards, ensuring proper expenditure approvals, and increasing internal audit engagement. The World Bank recommended full adoption of GoG Daily Subsistence Allowance (DSA) rates and integrating regular internal audits to strengthen oversight. Despite an increase in disbursement, these challenges prevented the FM rating from returning to ‘Satisfactory’ in the final ISR. Unresolved issues included the full transition from Accounting Software for Client-Centric Applications (ACCPAC) to the Ghana Integrated Financial Management Information System (GIFMIS), the integration of dedicated internal accounting staff within the Project’s financial management system to enhance continuity and build internal capacity, and continued reliance on external consultants for Interim Financial Reports (IFRs) and Statements of Expenditure. These concerns contributed to maintaining a ‘Moderately Satisfactory’ FM rating at closure. Procurement 56. Procurement performance was rated ‘Satisfactory’ throughout most of the Project’s implementation. However, it was temporarily downgraded to ‘Moderately Satisfactory’ between ISR Sequences 08 15 and 09 16 , before returning to ‘Satisfactory’ at project closure. This downgrade was largely attributed to procurement delays, especially in the early stages. The preparation and approval of ToRs extended timelines, as defining the scope and securing approvals from the PIU, MoEn, and other beneficiary institutions required considerable time. Additionally, evaluation periods took longer than expected, sometimes exceeding a year, due to the COVID-19 pandemic and remote work requirements. This led to a shift to in-person meetings, adhering to health protocols, to expedite evaluations after initial remote delays. Despite these setbacks, all procurement activities were completed by the Project’s closing date of December 31, 2023. C. BANK PERFORMANCE Quality at Entry 57. Quality at Entry is rated Satisfactory. The Project’s design was grounded in a thorough assessment of the energy sector’s challenges, resulting in a demand-driven proposal that effectively addressed the technical assistance needs of key energy sector entities in support of the ESRP. The Project focused on high-priority sector objectives— strengthening the sector’s capacity to implement reforms and enhancing energy sector coordination. The theory of change underlying the Project design was well-structured, aligning clearly with these goals and providing a coherent pathway toward the intended outcomes. 58. Preparation was comprehensive, covering implementation considerations such as safeguards, procurement, and fiduciary arrangements. Drawing on the Bank’s experience with the GEDAP project, the design replicated its successful structure, leveraging the capacity of an existing PIU to establish a solid foundation for project management. Procurement and M&E arrangements were similarly well-prepared, ensuring effective oversight mechanisms were in place from the outset. 15 Report No.: ISR52237 16 Report No.: ISR54582 Page 24 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT 59. The Project’s design also incorporated flexibility to address the evolving needs of diverse beneficiaries within a dynamic sector context. To enable this adaptability, 20 percent of the loan amount was left unallocated to accommodate unforeseen needs and contingencies. Substantial risks related to sector policy and fiduciary aspects were anticipated, with specific mitigation measures integrated, including a firm implementation and coordination plan, a flexible approach for necessary adjustments, and strengthened procurement capacity within the PIU and MoEn. Consequently, the overall risk was rated Moderate. The unanticipated COVID-19 pandemic impact, which contributed to delays, was an external factor beyond the Project’s control. Quality of Supervision 60. Quality of Supervision is rated Satisfactory. The Bank team provided proactive and consistent supervision throughout Project implementation, conducting field missions at appropriate intervals despite the constraints imposed by the COVID-19 pandemic. The team closely collaborated with the PIU, prioritizing the Project’s development objectives and the evolving needs of beneficiary institutions. Regular weekly meetings and progress tracking through updated matrix sheets provided effective oversight, enabling timely identification and resolution of implementation challenges. 61. Project reporting was objective and consistent, with a total of eleven ISRs and eight Aide-Mémoires documenting the Project’s progress, risks, and achievements. These reports were consistent in identifying key issues and monitoring progress against the Results Framework, with performance ratings that were transparent and well-justified. While the Aide-Mémoires provided detailed insights into Project status and challenges, the ISRs were succinct, limiting the depth of reporting in some cases. Additionally, the final Aide-Mémoire was issued in February 2023, 10 months prior to Project closure, leaving some post-restructuring outcomes, including impacts from the loan extension unreported. However, the final ISR, issued in July 2024 after Project closure, upgraded the PDO progress rating to Satisfactory, capturing achievements realized during the final stages of implementation post-restructuring. 62. The Bank team’s adaptability to the Project’s evolving needs substantially enhanced Project impact. Flexibility and guidance during the restructuring process enabled strategic adjustments, ensuring alignment with Project objectives and sustaining momentum amid changing circumstances. The presence of Bank staff in-country was instrumental in supporting the PIU and beneficiary institutions, facilitating responsive supervision and effective communication. Supervision of safeguards and fiduciary aspects was also Satisfactory, both in terms of resource allocation and supervision quality. Justification of Overall Rating of Bank Performance 63. Given the ratings for Quality at Entry and Quality of Supervision, the Bank’s overall performance is rated Satisfactory. D. RISK TO DEVELOPMENT OUTCOME Page 25 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT 64. Through a set of targeted activities, the Project aimed to achieve its PDOs, which were: (i) strengthening the energy sector's capacity to implement reforms, with a focus on enhancing financial and operational management to improve the sector’s overall financial viability and efficiency, and (ii) improving energy sector planning and coordination, through strategic oversight, integrated planning, and the establishment of coordinated frameworks for the power and gas sectors. While the Project made substantial progress in these areas, several risks could undermine the long-term sustainability of these outcomes. 65. The financial viability of the energy sector remains a key challenge. While the Project improved sector financials through the CWM and reduced operational inefficiencies, persistent risks—such as reliance on tariff adjustments, inflationary pressures, and foreign exchange fluctuations—continue to pose threats. The ability of the government and regulators to adjust tariffs in line with macroeconomic shifts and the sector’s cost structure is crucial for long-term financial health and successful reform implementation. Delays or resistance to these tariff adjustments, particularly amid rising inflation, as well as persistent operational inefficiencies in the distribution companies, could undermine the financial gains achieved. Ongoing World Bank DPO (P180718), PforR (P173258) 17 , and IMF ECF operations, which mandate quarterly tariff adjustments and support ESRP actions, will continue to reinforce reforms and enhance the sector’s financial sustainability. 66. Changes in political leadership and shifting priorities can pose risks, especially with Ghana’s recent general elections held in December 2024, which elected the President and members of Parliament. Ghana’s energy sector reforms have largely been driven by strong government commitment, with political will being crucial for sustaining progress in areas such as tariff adjustments and sector restructuring. Any change in government could lead to shifts in reform priorities or delays in implementation, potentially hindering the full achievement of the Project’s outcomes. However, since the ESRP is embedded within broader fiscal and economic recovery plans and supported by financing from international development partners like the World Bank and IMF, the continuity of reforms is expected to extend beyond any single political cycle. 67. The sustainability of the Project’s outcomes relies on the ongoing application and integration of analytics, systems, and strategic frameworks developed during implementation. All of these were aimed at improving operations, informing decision-making, and building capacity within sector agencies. Continued commitment from the beneficiary agencies to effectively leverage these outputs is essential for sustaining progress. Any lapse in this commitment could undermine the Project’s lasting impact. Encouragingly, strong beneficiary ownership—reinforced during restructuring—has ensured that key mechanisms and systems, such as CWM, SCADA, ERP, and OMS, are now integrated into the daily operations of these agencies, with several analytical outputs already driving policy, regulatory, and commercial decisions. 68. The risk to the Project’s development outcome is assessed as Modest. The long-term sustainability of the outcomes depends on the government’s ability to prioritize and sustain reforms, and the beneficiary agencies’ continued use of the tools developed during implementation. Strong ownership by the agencies and the government’s commitment to reforms mitigate some risks, while ongoing World Bank and IMF operations, such 17The PforR (P173258) aims to enhance distribution companies' operational efficiency and sector financial stability by targeting three key areas: reducing power system costs, improving operational performance, and strengthening financial management. Page 26 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT as DPO (P180718), PforR (P173258), and ECF, provide continued support for tariff adjustments and sector financial sustainability. Given these factors, the risk to the development outcome remains Modest. V. LESSONS AND RECOMMENDATIONS 69. Sector reform-focused TA projects, despite limited budgets, are inherently complex due to their nature and the broad spectrum of stakeholders and activities involved. It is imperative to have a robust and visible champion to ensure successful implementation. Clear commitment, ownership, and high-level support are crucial to securing endorsement and maintaining adherence, ensuring that all activities align with the country’s sector reform objectives. Such a role cannot be optimally fulfilled by a capable yet typically 'external' PIU or any other external stakeholder. 70. Such TA operations often involve the execution of a wide range of activities that require the participation of multiple stakeholders. Securing the collaboration of these entities is vital to ensure that outputs address the concerns and perspectives of beneficiaries while remaining aligned with the sector’s objectives. Considerations include, among others, the use of a Steering Committee to oversee the implementation of all activities. This can be instrumental in achieving outcomes satisfactory to all parties, provided it includes high-level representatives from all stakeholders and maintains frequent communication, including physical meetings when necessary. 71. Inclusive stakeholder engagement from the start is crucial for project success. Project proponents should involve all relevant stakeholders from the activity’s design phase—providing these institutions with a clear understanding of the proposal—through to negotiations and implementation, including the timely review of critical deliverables. Beneficiaries should be made aware from the outset of what is expected of them, and focal persons for each beneficiary should be designated before the activity begins. Centralized implementation without consistent communication and early stakeholder participation could potentially underutilize local capacity, weaken ownership, and delay contributions. 72. The effectiveness of TA operations largely depends on the actual adoption and implementation of its recommendations; without this, the benefits may be limited to merely shelving a set of reports. Beyond securing beneficiary ownership, the GESTIP experience suggests the following to ensure effective use of the project’s outputs: (i) incorporate training sessions on the use of the tools provided as part of the consultant’s assignment, and (ii) include specific components within the supported activities that are likely to yield immediate and visible benefits to the sector, as early results can be crucial in gaining project support and strengthening local ownership. Additionally, strong leadership and committed champions are vital to sustaining structural reforms over time; in the absence of such leadership, reform sustainability can be undermined. 73. Flexibility in the design and implementation of a TA project is crucial for adapting to changing needs and maximizing its potential benefits. Since TA operations that support sector-wide reforms are often carried out in dynamic, unpredictable environments, incorporating flexibility into the project design is essential. Legal agreements that allow for restructuring should be established, and dynamic management tools that can be continuously updated, such as Environmental and Social Management Frameworks (ESMFs) and Operational Manuals should be used. Flexibility should be complemented by a project management approach that is Page 27 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT responsive to the client’s evolving needs and preferences during implementation. The GESTIP experience highlighted the importance of this approach, facilitating a restructuring that not only confirmed the relevance of the project’s objectives but also ensured their achievement in responding to the government's ongoing reform objectives and strategies. 74. Given the large number of activities involved in a sector-wide TA project, the procurement process often becomes a highly demanding effort relative to the project’s scale, frequently causing delays. Project preparation should prioritize designing procurement arrangements that enhance efficiency. In addition to confirming the borrower’s capacity for implementation, the preparation process should assess the country’s existing procurement framework, aiming to identify and eliminate cumbersome or redundant bureaucratic processes, while ensuring compliance with fiduciary requirements. These measures should be incorporated into the project’s procurement plan. 75. TA operations aimed at supporting sector reform inherently depend on local resources and knowledge. Unlike construction or technology-driven investment projects, which finance infrastructure including ICT and often remain somewhat detached from local political and policy environments, sector reform-focused TA operations require deep integration with local contexts. This integration provides access to essential knowledge and the ability to navigate the complexities of the implementation environment. The GESTIP experience underscores the importance of local involvement in two key areas: (i) in-country collaborators—active participation by local partners significantly improved the consultants’ understanding of specific challenges in Ghana and facilitated better communication with beneficiaries; and (ii) access to data—tasks involving substantial data collection were more effectively executed by firms with local partnerships. Overall, local expertise proved critical in navigating local contexts, enhancing the effectiveness of project implementation. 76. The collection of high-quality and sufficient data is essential to the success of various analytical efforts and requires careful planning and adequate resources. Data gathering can be costly and time-consuming and should be addressed from the early stages of a study—prior to engaging consultants—and factored into the consultant’s budget. In environmental, technical, and commercial assessments, access to comprehensive and reliable baseline data is crucial for ensuring sound outputs and recommendations. It is recommended that TA projects addressing a range of sector-related activities be supported by a centralized data repository to facilitate access to high-quality data and ensure its availability for future use in a cost-effective and timely manner. 77. Addressing governance deficiencies falls beyond the remit of TA projects like GESTIP: While the GESTIP TA provided the analytical tools for the client to monitor sector performance under a proposed trajectory of regulatory reform and financial recovery, compliance with sector policies and regulations are within the remit of other World Bank instruments designed for the same e.g. Development Policy Financing. The analytical underpinning designed under GESTIP provided the framework for the design and delivery of the IDA-financed Resilient Recovery Development Policy Financing series, the IDA-funded Energy Sector Recovery Program, and the IMF Extended Credit Facility. Page 28 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ANNEX 1. RESULTS FRAMEWORK AND KEY OUTPUTS @#&OPS~Doctype~OPS^dynamics@icrresultframework#doctemplate A. RESULTS FRAMEWORK PDO Indicators by Outcomes Strenghten the capacity of the energy sector to implement sector reforms Indicator Name Baseline Closing Period (Original) Closing Period (Current) Actual Achieved at Completion Result Month/Year Result Month/Year Result Month/Year Result Month/Year Power sector revenue allocated to 0.00 May/2018 100.00 Mar/2022 100.00 Mar/2022 100.00 Dec/2023 sector entities through the Cash Waterfall Mechanism. (Percentage) Electrification strategy and No May/2018 Yes Mar/2022 Yes Sep/2023 Yes Dec/2023 investment plan for remote areas is adopted and communicated to stakeholders (Yes/No) Clean Cooking strategy is adopted No May/2018 Yes Mar/2022 Yes Mar/2023 Yes Dec/2023 and communicated to stakeholders (Yes/No) Improve energy sector planning and coordination in Ghana Indicator Name Baseline Closing Period (Original) Closing Period (Current) Actual Achieved at Completion Result Month/Year Result Month/Year Result Month/Year Result Month/Year Strategy for competitive tendering of No Oct/2017 Yes Mar/2022 Yes Mar/2022 Yes Dec/2023 gas/LNG volumes for balancing gas supply and demand for power plants is adopted and communicated to stakeholders (Yes/No) Page 29 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Intermediate Indicators by Components Component 1: Management of energy sector financial flows Indicator Name Baseline Closing Period (Original) Closing Period (Current) Actual Achieved at Completion Result Month/Year Result Month/Year Result Month/Year Result Month/Year No. of sector staff trained (male and 0.00 Oct/2017 50.00 Mar/2022 50.00 Mar/2023 137.00 Dec/2023 female). (Number) of which female. (Number) 0.00 Oct/2017 10.00 Mar/2022 10.00 Mar/2023 37.00 Dec/2023 Citizen engagement: Number of 0.00 Oct/2017 5.00 Mar/2022 2.00 Nov/2023 3.00 Dec/2023 citizen engagement meetings held (Number) Percentage of participants in 0.00 50.00 50.00 92.30 Dec/2023 citizen engagement meetings who consider their views have been taken into account. (Percentage) Component 2: Sector Planning and coordination Communication capacity of GRIDCO’s 80.00 Jun/2022 200.00 Dec/2023 200.00 Dec/2023 200.00 Dec/2023 Network Management System (Number) Performance Improvement Plan (PIP) No Jun/2022 Yes Jun/2023 Yes Jun/2023 Yes Dec/2023 Guidelines for Energy Commission and PURC prepared (Yes/No) Component 3: Energy access NEDCo's distribution system plan No Oct/2017 Yes Mar/2022 Yes Jun/2023 Yes Dec/2023 updated. (Yes/No) NEDCo's distribution specifications No Oct/2017 Yes Mar/2022 Yes Aug/2023 Yes Dec/2023 and construction standards approved. (Yes/No) Gender. The strategic assessment of No Oct/2017 Yes Mar/2022 Yes Aug/2023 No Dec/2023 electrification options outlines the impacts of different electrification Page 30 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT strategies on women and women’s entrepreneurship\income generation. (Yes/No) Component 4: Natural gas Gas supply and demand study No Oct/2017 Yes Mar/2022 Yes Mar/2022 Yes Dec/2023 completed (Yes/No) Page 31 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT B. KEY OUTPUTS Objective/Outcome 1: STRENGTHEN THE CAPACITY OF THE ENERGY SECTOR TO IMPLEMENT SECTOR REFORMS 1. Power sector revenue allocated to sector entities through the CWM. 2. Electrification strategy and investment plan for remote areas is Outcome Indicators adopted and communicated to stakeholders. 3. Clean cooking strategy is adopted and communicated to stakeholders. 1. CWM implemented for transparent and equitable revenue distribution among sector entities, improving financial stability and accountability within the power sector. 2. Ghana Last-Mile Electrification Strategy developed and adopted, effectively communicated to stakeholders. This strategy offers a Key Outputs by Component foundation for future projects and policy initiatives, enhancing the (linked to the achievement of the Objective/Outcome 1) sector's ability to plan and implement reforms effectively. 3. National Clean Cooking Strategy formulated and adopted, communicated to stakeholders. This strategy establishes a clear framework for sustainable energy practices, guiding future investments and supporting policy development for sector reforms. Objective/Outcome 2: IMPROVE ENERGY SECTOR PLANNING AND COORDINATION 1. Strategy for competitive tendering of gas/LNG volumes for Outcome Indicators balancing gas supply and demand for power plants is adopted and communicated to stakeholders 1. Legal and commercial arrangements, as well as demand and supply balance for gas, were assessed, leading to significant cost savings and Key Outputs by Component improved contract terms for gas supply. This facilitated reduced gas (linked to the achievement of the Objective/Outcome 2) obligations and enhanced the planning and coordination of the gas sector. INTERMEDIATE RESULTS INDICATORS BY PROJECT COMPONENT Page 32 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT 1. No. of sector staff trained (male and female) 2. No. of sector staff trained (of which female) 3. Citizen engagement: Number of citizen engagement meetings held Intermediate Results Indicators for Project Component 1 4. Percentage of participants in citizen engagement meetings who consider their views have been taken into account 1. Increased communication capacity of GRIDCO’s Network Management System Intermediate Results Indicators for Project Component 2 2. PIP guidelines for EC and PURC prepared 1. NEDCo's distribution system plan updated 2. Update of NEDCo's distribution specifications and construction standards complete Intermediate Results Indicators for Project Component 3 3. Gender. The strategic assessment of electrification options outlines the impacts of different electrification strategies on women and women’s entrepreneurship\income generation Intermediate Results Indicators for Project Component 4 1. Gas supply and demand study completed Page 33 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ANNEX 2. BANK LENDING AND IMPLEMENTATION SUPPORT/SUPERVISION A. TASK TEAM MEMBERS Name Role Dhruva Sahai Team Leader Maame Tabuah Ankoh Team Leader Esinam Julia Nduom Financial Management Specialist Buniyaminu Abdul Kadiri Procurement Specialist Patrick Kwadwo Ansah Procurement Specialist Muhammad Abbass Rahimi Procurement Specialist Charles John Aryee Ashong Procurement Specialist Kobina Otu Okyne Environmental Specialist Justice Odoiquaye Odoi Environmental Specialist Nneka Okereke Social Specialist Adams Kwaw Social Specialist Sarah Antwi Boasiako Social Specialist Nightingale Rukuba-Ngaiza Counsel Lydia Sam Procurement Team Haoua Diallo Team Member Ayishetu Terewina Team Member Landrine Fomete Songmene Team Member Rhonda Lenai Jordan Antoine Team Member Serdar Jepbarov Team Member Maiada Mahmoud Abdel Fattah Kassem Team Member @#&OPS~Doctype~OPS^dynamics@icrannexstafftime#doctemplate B. STAFF TIME & COST Stage of Project Cycle Staff Time & Cost Page 34 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT No. of Staff Weeks US$ (including travel and consultant costs) Preparation FY18 49.470 320,150.99 FY19 3.812 27,794.94 FY20 0.000 .00 Total 53.28 347,945.93 Supervision/ICR FY19 25.751 213,979.17 FY20 33.724 522,550.61 FY21 25.177 401,973.74 FY22 29.386 188,588.09 FY23 18.831 124,453.22 FY24 13.217 60,011.70 FY25 1.090 1,346.81 Total 147.18 1,512,903.34 Page 35 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ANNEX 3. PROJECT COST BY COMPONENT 18 Amount at Approval Actual at Project Percentage of Approval Components (US$M) Closing (US$M) (US$M) 19 Component 1: Management of energy sector financial 5.30 8.37 158% flows Component 2: Sector 3.50 0.75 21% Planning and coordination Component 3: Energy access 2.00 4.62 231% Component 4: Natural gas 3.20 1.28 40% Component 5: Project management & ESRP 2.00 4.06 203% Implementation Support Follow up activities and 4.00 0 0 Contingencies Total 20.00 19.07 95% 18 Actual figures at Project Closing (US$M) are drawn from the IFR dated April 30, 2024, and the specific cost breakdown per activity can be found in Annex 6. The IFR from April 2024 indicates a final disbursement of $19.07 million, while the Bank's ICR Financing section reports a final disbursement of $19.16 million. This discrepancy arises from fluctuations in the daily conversion rates between Special Drawing Rights (SDR) and USD due to market conditions. 19 Due to restructuring, some components saw higher disbursements than initially allocated. For example, 27% of the total funds was originally allocated to Component 1, but after restructuring, 52% was allocated reflecting changing sector priorities. The actual disbursement for this component was 42%. Page 36 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ANNEX 4. EFFICIENCY ANALYSIS The project comprises a set of technical assistance activities; it does not finance investments that would generate cash flows. Therefore, it does not lend itself to a traditional economic and financial analysis that calculates Net Present Value (NPV) or the Economic and Financial Internal Rate of Return (EIRR and FIRR) of a particular investment. Page 37 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ANNEX 5. BORROWER, CO-FINANCIER AND OTHER PARTNER/STAKEHOLDER COMMENTS 1. The PIU has prepared a thorough Project Completion Report (PCR), which was submitted to the Bank in February 2024. This report addresses the project’s background, development objectives, implementation issues, and performance, as well as its compliance with environmental and social safeguards, financial management, and procurement. The report’s quantitative conclusions coincide with those of the ICR. 2. The report captures the borrower’s views and conclusions on the project. It summarizes the challenges encountered during the implementation phase, identifies key benefits provided to various beneficiaries, and presents the borrower’s view of the lessons learned. The most salient challenges included:  Factors of delay: (i) late provision of inputs from utilities or government agencies other than the beneficiary institutions; (ii) lengthy review of deliverables by different parties; (iii) COVID-19 travel restrictions slowed down consultancy activities; (iv) unavailability of the software required for the beneficiaries’ review of consultant’s deliverables; (v) changes in project design; and (vi) overly ambitious timetables;  Steering Committee meetings were not always attended by the heads of the beneficiary institutions, thus compromising their full involvement and ownership; and  Due to currency exchange losses between SDR and US Dollars, some beneficiaries had to cover the resulting funding gap (e.g., in upgrading GRIDCo’s SCADA system). 3. The PIU’s PCR identifies 30 key benefits provided to eight energy sector beneficiaries that resulted from the project’s activities. Some important benefits are:  Planning and strategic studies or tools that helped energy sector institutions to forecast energy and peak demand, as well as natural gas demand and supply, identify investment needs and seek appropriate funding, estimate the economic VoLL to achieve more efficient operation and allocate appropriate rewards and penalties, and support Ghana’s Last-Mile Electrification Program and National Clean Cooking Strategy;  Distribution design guidelines and construction standards for NEDCo to ensure high quality of service, as well as a manual for network protection and coordination;  Mapping geographic data of NEDCo for more effective customer service;  Update of GRIDCo’s SCADA system to incorporate advancements in technology and accommodate the overall growth of the power system;  Enhancing the capacity of NPA to undertake its regulatory functions, including a nationwide baseline study for the National LPG Promotion Program, a comprehensive Monitoring and Evaluation (M&E) framework, and financial models to determine margins in the price build-up of LPG;  Support to the ESRP through qualified staff, funding of annual audits of legacy debt, and technical audits of power plants; and  Improvement of office equipment in several energy sector institutions. 4. The lessons learned presented in the PCR highlight the importance of an active role of senior management during the design and implementation of a TA project, effective coordination among all parties, the essential role played by a local representative of the consultant’s team, the need for efficient data collection, and the necessity of training beneficiaries to ensure that the project’s benefits are realized. These lessons are taken into account in the formulation of Section E of this ICR. Page 38 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT ANNEX 6. SUPPORTING DOCUMENTS (IF ANY) ACTIVITY DESCRIPTION DISBURSED (USD) COMPONENT 1: MANAGEMENT OF ENERGY SECTOR FINANCIAL FLOWS - US$10.40 MILLION COMPONENT 1.1: CASH WATERFALL MECHANISM Preparation of Procedures and Operational Documents for the Implementation of CWM 22,000.00 CWM Independent Accountant 236,080.53 CWM Financial Analyst 103,141.16 Training: Stakeholder Workshops for Regulators and Parliamentary Select Committees on Energy 134,747.90 and Finance Technical Coordinator (Full-Time) 276,131.78 Policy Advisor (Part-Time) 104,722.68 Technical Audit of Power Plants 152,319.84 Goods for ESRP PIU: 4WD Station Wagon 69,503.79 ESRP PIU Task Force Operations: Meeting Venues, Logistics, Per Diem, etc. 114,210.32 Street Lighting Tariff Analysis 375,283.68 Annual Audit and Review of Legacy Debt 571,577.06 COMPONENT 1.2: ELECTRONIC BILLING AND COLLECTION Support for NEDCo's Definition of an E-Billing Action Plan 33,729.72 Validation of ECG's Revenue/Collection Account 90,877.50 Validation of NEDCo’s Revenue/Collection Account 59,854.85 COMPONENT 1.3: IMPROVEMENT OF OPERATIONAL FUCTIONS Upgrade of GRIDCo's SCADA Network Management 3,358,269.61 Supervision of the Upgrade of GRIDCo's SCADA Network Management 80,139.09 Completion of the Supply and Installation of OMS 600,000.00 Completion of ERP System 1,766,122.94 Supervision of the Completion of the ERP System 182,628.75 Preparation of PIPs for EC and PURC 35,485.00 COMPONENT 1 TOTAL 8,366,826.20 COMPONENT 2: SECTOR PLANNING AND COORDINATION - US$0.95 MILLION COMPONENT 2-1: ELECTRICITY SECTOR ASSESSMENT AND SUPPORT FOR IMPLEMENTING RECOMMENDATIONS Estimation of the VoLL of Electricity Supply in Ghana 58,114.32 COMPONENT 2.2: GAS SECTOR ASSESSMENT AND SUPPORT FOR IMPLEMENTING RECOMMENDATIONS Review of the Ghana Petroleum Products Price Build-Up 241,582.66 Operating Cost: Advertising 5,234.77 ESMF 49,858.99 Development of a M&E Framework and Baseline Studies for CRM 115,545.68 Development of LPG Behavioral Change and Public Awareness Programs 110,926.16 Development of COMAH Regulations 168,934.03 COMPONENT 2 TOTAL 750,196.61 COMPONENT 3: ENERGY ACCESS - US$4.97 MILLION COMPONENT 3.1: INVESTMENT PLAN FOR ELECTRIFICATION Feasibility and Investment Planning Study for Ghana’s Last-Mile Electrification 258,010.28 Page 39 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT Satellite and Field Survey Analysis and Upgrade of Existing Geospatial Software: GIS Database for 209,659.85 Ghana's Last-Mile Electrification Operating Cost: Commission on Transfers 318.69 Purchase of PLEXOS 20 Modeling Software 425,851.00 Purchase of GIS Software and Training 50,965.17 COMPONENT 3.2: SAFE CLEAN COOKING STRATEGY Consumer and Market Assessment Study and Development of a National Clean Cooking Strategy 193,040.44 for Ghana Preparation of Operational Manual for the National LPG Promotion Program 69,797.02 Needs Assessment for the Upgrade and International Organization for Standardization (ISO) 27,885.95 Accreditation of the Stove Testing Laboratory at KNUST-TCC COMPONENT 3.3: NEDCo’S OPERATIONAL SYSTEMS UPGRADE NEDCo's Distribution Master Plan Studies 452,615.19 Update of NEDCo’s Distribution and Construction Standards Studies 425,264.28 E-GIS for Techiman and Parts of the Sunyani Operational Areas 1,577,056.91 Consultancy Services for NEDCo's Distribution Network Protection and Coordination Studies 275,773.19 Workshop and Training 33,620.12 Purchase of Power Line Systems - Computer Aided Design and Drafting (PLS-CADD) Software for 71,996.00 NEDCo NEDCo's Energy and Demand Forecast Study 257,246.62 Fiber Optic Broadband Infrastructure Development Project 291,357.02 Fewer Reversals of Canceled Transactions (582.20) COMPONENT 3 TOTAL 4,619,875.53 COMPONENT 4: NATURAL GAS - US$1.32 MILLION Strategy for Balancing Natural Gas Demand and Supply 193,323.52 Technical and Legal Support for the Implementation of the Aggregator Role 98,919.80 Development of Natural Gas Distribution Franchise in Tema 985,377.00 Operating Cost: Advertising 2,253.60 COMPONENT 4 TOTAL 1,279,873.92 COMPONENT 5: PROJECT MANAGEMENT & ESRP IMPLEMENTATION SUPPORT - US$2.36 MILLION COMPONENT 5.1: PROJECT MANAGEMENT PIU Staff Costs (for 8 staff members) 1,104,572.46 Goods: Office Vehicle 69,504.15 Goods: Office Equipment and Accessories 183,605.53 Operating Costs 734,722.54 Construction of a 2-Storey Prefabricated Office Building 309,727.86 COMPONENT 5.2: ESRP IMPLEMENTATION SUPPORT Training: Workshop for Beneficiary Institutions 1,663,641.63 Fewer Reversals of Canceled Transactions (8,730.41) COMPONENT 5 TOTAL 4,057,043.76 TOTAL PROGRAM DISBURSEMENT 19,073,816.02 20 PLEXOS is software tool used for power market simulation, energy modeling, and analysis, including gas in its capabilities. Page 40 The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) ICR DOCUMENT GESTIP Project Completion Report by PIU Please click the icon to view the PIU's ICR. Page 41