The World Bank
   REAL ESTATE REGISTRATION PROJECT ()




                                                                                 REPORT NO.: RES38646

                                   DOCUMENT OF THE WORLD BANK




                                       RESTRUCTURING PAPER
                                                ON A
                                 PROPOSED PROJECT RESTRUCTURING

                                                    OF

                                REAL ESTATE REGISTRATION PROJECT
                                  APPROVED ON OCTOBER 25, 2012
                                                    TO

                                     BOSNIA AND HERZEGOVINA


URBAN, RESILIENCE AND LAND

EUROPE AND CENTRAL ASIA




                         Regional Vice President:    Cyril E Muller
                               Country Director:     Linda Van Gelder
                               Regional Director:    Steven N. Schonberger
                     Practice Manager/Manager:       Jorge A. Munoz
                              Task Team Leader:      Camille Bourguignon-Roger
           The World Bank
           REAL ESTATE REGISTRATION PROJECT ()



I. BASIC DATA

Product Information

Project ID                                                     Financing Instrument
                                                               Investment Project Financing

Original EA Category                                           Current EA Category
Partial Assessment (B)                                         Partial Assessment (B)

Approval Date                                                  Current Closing Date
25-Oct-2012                                                    31-Jan-2020




Organizations

Borrower                                                       Responsible Agency
                                                               Federal Administration for Geodetic and Real-Property
Bosnia and Herzegovina                                         Affairs of the Federation of BH,Republic Administration
                                                               for Geodetic and Property Affairs of Republika Srpska



Project Development Objective (PDO)
Original PDO
The project development objective is to support development of a sustainable real estate registration system with
harmonized land register and cadastre records in urban areas of both the Federation of Bosnia and Herzegovina and
the Republic of Srpska.
Summary Status of Financing


                                                                                        Net
Ln/Cr/Tf                 Approval         Signing Effectiveness          Closing Commitment Disbursed Undisbursed

IDA-51880              25-Oct-2012   25-Jan-2013    23-Sep-2013      31-Jan-2020         34.10      30.21           2.04


Policy Waiver(s)

Does this restructuring trigger the need for any policy waiver(s)?
No
           The World Bank
           REAL ESTATE REGISTRATION PROJECT ()



I. SUMMARY OF PROJECT STATUS AND PROPOSED CHANGES

 The Real Estate Registration Project (RERP) continues to make good progress toward the achievement of the Project
 Development Objective (PDO). The end targets of the PDO-level indicators have been met or exceeded. The objective
 was to harmonize land registry and cadastre data / establish Real Estate Cadastre (REC) in 468 Cadastral Municipalities
 (CMs), benefiting 1.48 million individuals, of whom at least 35 per cent are women. As of September 2019, these
 activities have been completed in 511 CMs, aiding 1.61 million beneficiaries, of whom 35.8 per cent are women. As for
 the PDO-level objective to ensure that these data are publicly available, it was achieved in early 2019.

 The Ministry of Finance and Treasury (MoFT) has requested an Additional Financing (AF) and the RERP is being
 restructured to extend the Project closing date by six months. This extension is required to ensure that the Project
 Implementation Units remain active until the AF becomes effective, and allow for the implementing agencies to
 advance the preparation of the AF Activities. AF Negotiations are scheduled for November 2019 and the expected
 Board Approval date is January 15, 2020. The MoFT, the implementing agencies and the World Bank are working
 together to prevent delays with Effectiveness, but the AF cannot become effective by the current closing date of
 January 31, 2020.

 While the MoFT requested an 11-month extension, the restructuring would extend the closing date of Credit 5188-BA
 by six months until July 31, 2020, which is when the new loan is expected to become effective. This would result in a
 cumulative extension of two years beyond the original credit closing date, as Credit 5188-BA had already been
 previously extended by 18 months in October 2017. The rationale for the initial extension was the lengthy ratification
 process – it took 11 months for the Credit to become effective – and the fact that the implementing agencies had
 underestimated the time required to harmonize land registry and cadastre data / establish the REC.

 The Credit has been effective for six years and is 93 percent disbursed. Progress towards the achievement of the PDO
 and Overall Implementation Progress ratings are satisfactory. Fiduciary arrangements continue to be satisfactory and
 there are no outstanding audits. Environmental and social safeguards are also satisfactory.




II. DETAILED CHANGES


LOAN CLOSING DATE(S)


                                        Original                 Revised                Proposed      Proposed Deadline
Ln/Cr/Tf       Status                   Closing                Closing(s)                 Closing        for Withdrawal
                                                                                                            Applications
IDA-51880      Effective            31-Jul-2018             31-Jan-2020               31-Jul-2020            30-Nov-2020