The World Bank Implementation Status & Results Report Enhancing Capital Markets Supervision Capacities of The Albanian Financial Supervisory Authority Phase 2 (P171066) Enhancing Capital Markets Supervision Capacities of The Albanian Financial Supervisory Authority Phase 2 (P171066) EUROPE AND CENTRAL ASIA | Albania | Finance, Competitiveness and Innovation Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2020 | Seq No: 1 | ARCHIVED on 11-Nov-2019 | ISR39119 | Implementing Agencies: Albania Financial Supervisory Authority, Minstry of Finance and Economy Key Dates Key Project Dates Bank Approval Date: 09-Sep-2019 Effectiveness Date: -- Original Closing Date: Revised Closing Date: -- pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The development objective of the project is to (i) strengthen AFSA’s capacity to regulate and supervise capital markets and to (ii) boost market development for capital market products through increased financial awareness and education, and stimulation of financial innovation. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO -- Satisfactory Overall Implementation Progress (IP) -- Satisfactory Implementation Status and Key Decisions Implementation of the Enhancing Capital Markets Supervision Capacities of AFSA Phase 2 Project will initiate once the Government endorses and makes effective the project’s Grant Agreement. Meanwhile the Albanian Financial Supervisory Authority and the Central Finance and Contracting Unit (CFCU) have initiated the preparation of the project operations manual and the drafting of the terms of references for the planned activities in order to facilitate immediate implementation once ratification/effectiveness procedures completed. Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall Moderate -- Moderate 11/11/2019 Page 1 of 4 The World Bank Implementation Status & Results Report Enhancing Capital Markets Supervision Capacities of The Albanian Financial Supervisory Authority Phase 2 (P171066) 5. Results Project Development Objective Indicators IN00761164 ►Strengthened regulatory and supervisory framework for capital markets implemented (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 30-Sep-2019 -- 28-Oct-2019 30-Dec-2022 IN00761168 AFSA adopts bylaws on: (i) Licensing, (ii) Prospectus, (iii) Listed Companies, (iv) Conduct of Business, (v) Post-trade activities. (Text, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes IN00761169 Risk-based supervisory approach applied to all capital market intermediaries under AFSA's supervision (Text, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes IN00761165 ►Increased capacity of ASFA to monitor and supervise capital markets (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 30-Sep-2019 -- 28-Oct-2019 30-Dec-2022 IN00761170 Number of capacity building trainings provided to AFSA staff on montioring, inspection, investigation and enforcement cpacity completed (Text, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 5.00 IN00761166 ►Enhanced awareness and financial education of market participants (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 30-Sep-2019 -- 28-Oct-2019 30-Dec-2022 IN00761171 Number of awareness raising and financial education programs targeting groups of issuers and investors designed and implemented (Text, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target 11/11/2019 Page 2 of 4 The World Bank Implementation Status & Results Report Enhancing Capital Markets Supervision Capacities of The Albanian Financial Supervisory Authority Phase 2 (P171066) Value 0.00 -- 0.00 2.00 IN00761163 ►CPF Objective 1c: Support improved financial stability - Regulatory and supervisory framework for capital markets strengthened (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 30-Sep-2019 -- 28-Oct-2019 30-Dec-2022 Overall Comments PDO Project implementation has not started yet. Intermediate Results Indicators IN00761167 ►Peripatetic advisor hired (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No -- No Yes Date 30-Sep-2019 -- 28-Oct-2019 31-Dec-2022 Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date Cumulative Disbursements 11/11/2019 Page 3 of 4 The World Bank Implementation Status & Results Report Enhancing Capital Markets Supervision Capacities of The Albanian Financial Supervisory Authority Phase 2 (P171066) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 11/11/2019 Page 4 of 4