The World Bank Report No: ISR15713 Implementation Status & Results Tunisia Energy Efficiency (P104266) Public Disclosure Copy Operation Name: Energy Efficiency (P104266) Project Stage: Implementation Seq.No: 9 Status: ARCHIVED Archive Date: 16-Sep-2014 Country: Tunisia Approval FY: 2009 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Specific Investment Loan Implementing Agency(ies): ANME (Agence Nationale pour la Maitrise de l'Energie) Key Dates Board Approval Date 30-Jun-2009 Original Closing Date 28-Feb-2014 Planned Mid Term Review Date 01-Jun-2012 Last Archived ISR Date 12-Mar-2014 Effectiveness Date 04-Feb-2010 Revised Closing Date 30-Jun-2015 Actual Mid Term Review Date 13-Apr-2012 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to scale up industrial energy efficiency and cogeneraiton investments, and thereby contribute to the Government's new Four-year Energy Conservation Program. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Line of credit to two commercial banks 40.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Moderately Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Public Disclosure Copy Overall Risk Rating Implementation Status Overview The World Bank Project Team continues to closely supervise the project implementation and disbursement performance with ANME (the PMU), which oversees the project on behalf of the Government of Tunisia, and the two participating financial intermediaries (PFIs): Amen Bank and Banque de l’Habitat (BH). The Project was restructured in February 2014 and this second restructuring included: (i) extension of the original project closing date and (ii) increase of the Designated Account Ceilings for each PFI (to allow one/more disbursements in parallel). The Project closing date has been extended up to June 30, 2015 (an extension of 16 months) based on a new Action Plan to accelerate disbursements. As of end-August 2014, the disbursement level stands at US$12.7 million (31 percent of the US$41 million total allocated credit amount) and a new disbursement request in the Page 1 of 4 The World Bank Report No: ISR15713 amount of US$4.6 million is currently in payment process, which increases the disbursement level to US$17.3 million (42 percent) or an increase of 121 percent compared to the March 2014 disbursement level and 2.4 times compared to the August 2013 level. Amen Bank has disbursed 50 percent of its allocated amount of US$30.5 million while Banque de l’Habitat has disbursed 20% of its allocated amount of US$10.5 million. Therefore, the Bank has encouraged the PFIs to continue their efforts to develop new sub-projects and hence increase the disbursements. Public Disclosure Copy Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Cumulative energy savings achieved under the Text Value 0 13.518 50.287 project (ktoe) Date 21-Dec-2009 27-Aug-2014 30-Jun-2015 Comments The value will be assessed by As revised in accordance with PMT and PFIs in November restructuring. 2014. Cumulative reductions in GHG emissions Metric ton Value 0.00 33.80 125.72 under the project (kt CO2) Date 21-Dec-2009 27-Aug-2014 30-Jun-2015 Comments The value will be assessed by As revised in accordance with PMT and PFIs in November restructuring. 2014. Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Cumulative funds disbursed under the project Amount(USD) Value 0.00 12.70 40.00 (USD M) Date 21-Dec-2009 27-Aug-2014 30-Jun-2015 Comments As per client connection. New Revised upon approved disbursement request in the restructuring. Public Disclosure Copy amount of US$4.6 million, which is currently in payment process will be effective in the system by September 5, 2014. Total associated investments (USD M) Amount(USD) Value 0.00 20.00 52.00 Date 21-Dec-2009 27-Aug-2014 30-Jun-2015 Comments The value will be assessed Revised upon approved and confirmed with PMT and restructuring. PFIs in November 2014. Page 2 of 4 The World Bank Report No: ISR15713 Data on Financial Performance (as of 05-Aug-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date Public Disclosure Copy P104266 IBRD-77430 Closed 30-Jun-2009 08-Jul-2009 04-Feb-2010 28-Feb-2014 28-Feb-2014 P104266 IBRD-77440 Effective 30-Jun-2009 08-Jul-2009 04-Feb-2010 28-Feb-2014 30-Jun-2015 P104266 IBRD-77450 Effective 30-Jun-2009 08-Jul-2009 04-Feb-2010 28-Feb-2014 30-Jun-2015 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P104266 IBRD-77430 Closed USD 5.00 0.01 4.99 0.01 0.00 108.00 P104266 IBRD-77440 Effective USD 20.00 10.05 9.95 2.13 8.01 21.00 P104266 IBRD-77450 Effective USD 30.00 30.00 0.00 10.78 19.58 36.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation The disbursement performance of the Project continues to improve given current economic trends in Tunisia and PMT and Partner banks’ efforts to accelerate the project implementation. As a result, three new disbursements in the amount of US$8.9 million have been made since March 2014, owing to an increasing interest in the energy efficiency investments and the World Bank line of credit in Tunisia. Therefore, the World Bank Project Team, PMT and PFIs have agreed to conduct a detailed supervision mission in November 2014 focusing on the performance of the completed sub-projects (financed by the WB line of credit), PDO and intermediate performance indicators in addition to visiting potential sub- projects. This envisaged review of the completed sub-projects will give some preliminary results on the efficiency of the operation and lessons-learned to take necessary decisions and measures to improve the project implementation. Page 3 of 4 The World Bank Report No: ISR15713 Restructuring History Level two Approved on 07-Nov-2012, Level 2 CD Decision on 26-Feb-2014 Public Disclosure Copy Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4