The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) Sao Tome and Principe: Institutional Capacity Building Project (P162129) AFRICA | Sao Tome and Principe | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2018 | Seq No: 3 | ARCHIVED on 03-Oct-2019 | ISR38458 | Implementing Agencies: Ministry of Finance, Trade and Blue Economy, Central Bank Key Dates Key Project Dates Bank Approval Date: 18-May-2018 Effectiveness Date: 28-Aug-2018 Planned Mid Term Review Date: -- Actual Mid-Term Review Date: Original Closing Date: 30-Jun-2023 Revised Closing Date: 30-Jun-2023 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) To contribute to improved capacity of public institutions to: i) supervise the banking system; ii) promote access to finance; iii) manage public finances; and, iv) produce national statistics. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Financial Soundness and Access:(Cost $4.00 M) Strengthening Budget Credibility, Tax Base and SOE Governance:(Cost $4.50 M) Property Registration and Statistical Development:(Cost $2.00 M) Project Implementation Support:(Cost $1.50 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO ►Satisfactory ►Satisfactory Overall Implementation Progress (IP) ►Satisfactory ►Satisfactory Overall Risk Rating ►Substantial ►Substantial Implementation Status and Key Decisions The project has been progressing across all components with disbursement rate at 30% . Important to keep the momentum of implementation. 10/3/2019 Page 1 of 8 The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance ►Substantial ►Substantial ►Substantial Macroeconomic ►Moderate ►Substantial ►Substantial Sector Strategies and Policies ►Moderate ►Moderate ►Moderate Technical Design of Project or Program ►Substantial ►Substantial ►Substantial Institutional Capacity for Implementation and Sustainability ►High ►High ►High Fiduciary ►Moderate ►Substantial ►Substantial Environment and Social ►Low ►Low ►Low Stakeholders ►Substantial ►Substantial ►Substantial Other -- -- -- Overall ►Substantial ►Substantial ►Substantial Results PDO Indicators by Objectives / Outcomes Financial Soundness IN00740917 ►Improved capacity of BCSTP to promote financial stability as measured by the percentage of banks that corrected provisioning and capital shortfalls identified by AQR (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 80.00 Date 01-Jun-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 The AQR report has been finalized and adopted. BCSTP has started asking banks to reclassify portfolios based on AQR Comments: report but re-capitalization plans are not yet agreed to. Financial Inclusion IN00740770 10/3/2019 Page 2 of 8 The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) ►Improved Capacity of BCSTP to promote financial inclusion by expanding percentage population coverage of the Credit Registry (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 11.90 11.90 11.90 25.00 Date 01-Jun-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 Selection of credit registry upgrade vendor ongoing. Comments: IN00740918 ►of which women (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 4.10 4.10 4.10 10.00 Public Financial Management IN00740769 ►Improved Capacity of Ministry of Finance to generate revenues as measured by Tax Revenues Collected as Percentage of GDP (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 13.00 13.00 12.60 15.50 Date 01-Jun-2018 22-Mar-2019 31-Dec-2018 30-Jun-2023 According to recent MoF data, the ratio was 12.6% as of December 2018. Figures are updated at the end of each calendar Comments: year. Statistcs Capacity IN00740916 ►Improved Capacity of the National Statisitcs Institute to produce national statistics as measured by the Overall Statistical Capacity Score (SCI) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 70.00 73.30 73.30 75.00 Date 01-Jun-2018 22-Mar-2019 22-Mar-2019 30-Jun-2023 The Statistical Capacity Indicator improved reflecting the successful collection of the poverty survey (IOF 2017). Comments: Intermediate Results Indicators by Components Property Registration and Statistical Development IN00740921 ►Number of Real Estate and Vehicle Registries in the new Information System "Sistema Integrado de Registo de Propriedade - SIRP" (Number, Custom) 10/3/2019 Page 3 of 8 The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 73,260.00 Date 01-Jan-2018 22-Mar-2019 05-Sep-2019 30-Jun-2023 - Currently DGRN is starting the development of its Procedures Manual. - The final drat of the requirements for the design, supply and installation of the Sistema Integrado de Registo de Comments: Propriedade - SIRP was reviewed during the Implementation Mission of September 2-5/2019. IN00740924 ►Real Estate Registries (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 53,109.00 Date 01-Jan-2018 22-Mar-2019 22-Mar-2019 30-Jun-2023 IN00740926 ►Of which are women registered (Percentage) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 35.00 Date 01-Jan-2018 22-Mar-2019 22-Mar-2019 30-Jun-2023 IN00740928 ►Vehicle Registries (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20,151.00 Date 01-Jan-2018 22-Mar-2019 22-Mar-2019 30-Jun-2023 IN00740929 ►Number of new household surveys/census micro-datasets available (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 1.00 3.00 Date 01-Jan-2018 22-Mar-2019 05-Sep-2019 30-Jun-2023 IN00740932 ►Number of participants in short term statistics/demography training for whom scholarships may be awarded (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 30.00 42.00 25.00 Date 01-Jan-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 IN00740934 ►of which women participants (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target 10/3/2019 Page 4 of 8 The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) Value 0.00 18.00 24.00 5.00 IN00740936 ►For whom a scholarship is awarded (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 01-Jan-2018 22-Mar-2019 22-Mar-2019 30-Jun-2023 IN00740937 ►For whom a scholarship is awarded (women) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2.00 Date 01-Jan-2018 22-Mar-2019 22-Mar-2019 30-Jun-2023 Strengthening Budget Credibility, Tax Base and SOE Governance IN00740920 ►Difference between projected and actual public revenues collected (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 20.00 20.00 20.00 10.00 Date 01-Jun-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 IN00740923 ►Difference between projected and actual public expenditures (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 20.00 20.00 20.00 10.00 Date 01-Jun-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 IN00740925 ►Tax Revenue Contributors Registered (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 3,000.00 Date 01-Jun-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 IN00740927 ►Public procurement practitioners trained in the new framework (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 40.00 Date 01-Jan-2018 22-Mar-2019 05-Sep-2019 30-Jun-2023 10/3/2019 Page 5 of 8 The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) As of September 2019, 7 staff from COSSIL, from which 4 women (57.14%), have started a post degree course. The teaching part has been completed and now the trainees are preparing their paper for evaluation. This training program Comments: should be concluded by October 2019. IN00740930 ►of which women (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 25.00 IN00740931 ►All fully owned SOEs have a functional Board (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 4.00 Date 01-Jan-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 IN00740933 ►SOEs audited anually by independent institution and reports published (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 8.00 Date 01-Jan-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 IN00740935 ►Number of certified accountants and auditors trained on new standards (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 100.00 Date 01-Jan-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 Financial Soundness and Access IN00740919 ►Average lag between end of a quarter and availability of banking sector information for risk based supervision (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 50.00 Date 01-Jun-2018 22-Mar-2019 25-Sep-2019 30-Jun-2023 IN00740922 ►Doing Business Getting Credit Strength of Legal Rights Index (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 6.00 Date 31-Oct-2017 22-Mar-2019 25-Sep-2019 30-Jun-2023 10/3/2019 Page 6 of 8 The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P162129 IDA-D3080 Effective USD 12.00 12.00 0.00 3.43 8.01 30% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P162129 IDA-D3080 Effective 18-May-2018 12-Jun-2018 28-Aug-2018 30-Jun-2023 30-Jun-2023 Cumulative Disbursements 10/3/2019 Page 7 of 8 The World Bank Implementation Status & Results Report Sao Tome and Principe: Institutional Capacity Building Project (P162129) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 10/3/2019 Page 8 of 8