The World Bank Report No: ISR5175 Implementation Status & Results Guinea-Bissau GW-Economic Governance Reform Grant III (EGRG 3) (P123685) Public Disclosure Copy Project Name: GW-Economic Governance Reform Grant III (EGRG 3) Program Stage: Implementation Seq.No: 1 Status: ARCHIVED Archive Date: 03-Jan-2012 (P123685) Country: Guinea-Bissau Approval FY: 2011 Product Line: IBRD/IDA Region: AFRICA Lending Instrument: Development Policy Lending Implementing Agency(ies): Key Dates Board Approval Date 21-Jun-2011 Original Closing Date 31-Dec-2011 Planned Mid Term Review Date 12-Dec-2011 Last Archived ISR Date Effectiveness Date 20-Oct-2011 Revised Closing Date 31-Dec-2011 Actual Mid Term Review Date 12-Dec-2011 Program Development Objectives Program Development Objective (from Program Document) The main development objectives of the proposed grant are to: (i) promote efficiency, transparency and accountability in the use of public resources through improved public financial management (PFM); and (ii) improve specific aspects of the investment climate, including streamlined procedures for business registration and licensing, enhanced legal and taxation frameworks to foster private investment and new regulation to support environmental sustainability in public and private investment projects. Has the Program Development Objective been changed since Board Approval of the Program? Yes No Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Overall Implementation Progress (IP) Satisfactory Implementation Status Overview Public Disclosure Copy Implementation has been broadly satisfactory. Actions under the public finance management component have been completed as reflected in the formal adoption of a number of legal regulations as well as the fully operation of the government's financial management system. progress on the unification of the payroll have been substantial, but the military staff at the Ministry of defense is not in the unified payroll. On the private sector development block, the promulgation of the investment code by the President of the Republic and the adoption decrees simplifying business licensing will need follow-up actions for its actual implementation. Results Results Indicators Page 1 of 3 The World Bank Report No: ISR5175 Indicator Name Core Unit of Measure Baseline Current End Target Stock of arrears annually paid (million of Amount(USD) Value 7700.00 3800.00 3500.00 CFAF) Date 31-Dec-2010 31-Oct-2011 31-Dec-2011 Public Disclosure Copy Comments Exchange rate CFA/US$470 Exchange Rate Percentage of personnel expenditures not Percentage Value 46.00 85.00 0.00 included in the unified payroll system Date 31-Dec-2010 31-Oct-2011 30-Jun-2012 Comments Number of years to submit the General Number Value 2.00 0.50 0.50 Accounts of the State to the Court of Accounts Date 31-Dec-2010 31-May-2011 30-Jun-2012 Comments Number of procedures required to register a Number Value 17.00 9.00 9.00 firm Date 30-Jun-2010 30-Jun-2011 30-Jun-2013 Comments Cost of registering a firm (% income per capita) Percentage Value 183.00 49.80 100.00 Date 30-Jun-2011 30-Jun-2012 30-Jun-2013 Comments Numbers of Firms registered in the one-stop- Number Value 0.00 190.00 250.00 shop Date 31-Dec-2010 30-Nov-2011 31-Dec-2011 Comments Data on Financial Performance (as of 23-Nov-2011) Financial Agreement(s) Key Dates Public Disclosure Copy Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date P123685 IDA-H7040 Effective 21-Jun-2011 02-Aug-2011 20-Oct-2011 31-Dec-2011 Disbursements (in Millions) Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P123685 IDA-H7040 Effective XDR 4.00 4.00 0.00 0.00 4.00 0.00 Tranches Tranche 1 Page 2 of 3 The World Bank Report No: ISR5175 Amount (USD) Expected Release Date Actual Release Date Status Public Disclosure Copy 0 Pending Released Key Decisions Regarding Implementation A new DPO series will need to be prepared to support the Government's Second National Poverty Reduction Strategy Paper (NPRSP II) adopted in July 2011. The NPRSP II follows its predecessor's structure and encompasses PFM and PSD pillars. Restructuring History There has been no restructuring to date. Related Operations There are no related projects. Public Disclosure Copy Page 3 of 3