The World Bank Report No: ISR11647 Implementation Status & Results Argentina Improving Investment Portfolio Management: Building Up Institutions, Systems and Human Capital (P114957) Public Disclosure Copy Operation Name: Improving Investment Portfolio Management: Building Up Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 21-Dec-2013 Institutions, Systems and Human Capital (P114957) Country: Argentina Approval FY: 2009 Product Line: Institutional Development Fund Region: LATIN AMERICA AND CARIBBEAN Lending Instrument: Implementing Agency(ies): Direccion Nacional de Proyectos con Organismos Internacionales de Cr#dito Key Dates Board Approval Date 05-Feb-2009 Original Closing Date 01-Dec-2012 Planned Mid Term Review Date Last Archived ISR Date 27-Apr-2012 Effectiveness Date 01-Dec-2009 Revised Closing Date 01-Dec-2013 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from IDF Proposal) To contribute to the achievement of the development goals of the government by strengthening its capacity to efficiently and effectively manage the portfolio of investment development projects financed by IFIs through: (i) improvement of the design, preparation and approval of projects at the national and provincial levels; (ii) improvement of procurement capacity of agencies implementing investment projects; (iii) improvement of portfolio monitoring. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Improvement of design, preparation and approval of loans 108136.00 Improvement of procurement capacity 55783.00 Improvemnet in Portfolio Monitoring 318900.00 Public Disclosure Copy Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Moderately Unsatisfactory Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Unsatisfactory Overall Risk Rating Implementation Status Overview The project is closing on December 1, 2013. About 56% of grant funds have been disbursed, and there is an outstanding balance about 15% that are still pending to be documented to the Bank. An extension of the closing date was requested by the new administration that took office on October, 30th, 2012, and a restructuring of the project was undertaken to accommodate the new administration's priorities. Despite this final effort, no further execution of the project has taken place. While some activities under the project had positive Page 1 of 3 The World Bank Report No: ISR11647 results (i.e. Strengthening the Capacity of the General Audit Office to carry out technical audits, strengthening the capacity to monitor compliance with Safeguards Policies and significant progress with the integration UEPEX and SEPA systems), the objectives of the project as originally set forth have not been achieved. Public Disclosure Copy Locations No Location data has been entered Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Time of approval of loans by the Government Text Value 11 months average delay for 4 months average delay for at the national and subnational levels effectiveness of loans to the effectiveness of loans to the Federal Government; and 20 Federal Government and 6 months average delay for months average delay to loans with on-lendingto become effective and provincial government to operational for loans with on- become effective and lending to the provincial operational governments (taki Date 30-Jun-2008 30-Apr-2012 Comments % of planned contracting carried out based on Text Value 20% of planned procurement Based on 7 Projects of the 60% of planned procurement procuremement plan contracts under procurement Argentina’s Portfolio contracts under procurement plans are contracted as (representing 18.44% of total plans are contracted as planned funding), 60.54% of planned planned of planned procurement contracts under procurement plans are contracted as planned Date 31-Dec-2007 31-Dec-2011 31-Dec-2011 Comments % of projects with reliable information on Text Value 0% of projects 57% of projects 50% of projects Public Disclosure Copy contracts and financial transactions available in Date 31-Dec-2008 31-Dec-2011 31-Dec-2011 real time Comments Data on Financial Performance (as of 09-Mar-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P114957 TF-94065 Closed 04-Aug-2009 01-Dec-2009 01-Dec-2009 01-Dec-2012 01-Dec-2013 Disbursements Page 2 of 3 The World Bank Report No: ISR11647 Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P114957 TF-94065 Closed USD 0.49 0.49 0.00 0.27 0.22 56.00 Public Disclosure Copy Disbursement Graph Key Decisions Regarding Implementation About 44% of grant funds will be canceled after the closing date. Restructuring History There has been no restructuring to date. Related Projects Public Disclosure Copy There are no related projects. Page 3 of 3