The World Bank Report No: ISR10440 Implementation Status & Results Ghana Ghana - PPP Project (P125595) Public Disclosure Copy Operation Name: Ghana - PPP Project (P125595) Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 20-Jun-2013 Country: Ghana Approval FY: 2012 Product Line: IBRD/IDA Region: AFRICA Lending Instrument: Adaptable Program Loan Implementing Agency(ies): Key Dates Board Approval Date 27-Mar-2012 Original Closing Date 31-Aug-2016 Planned Mid Term Review Date 24-Dec-2014 Last Archived ISR Date 25-Dec-2012 Effectiveness Date 26-Dec-2012 Revised Closing Date 31-Aug-2016 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of this Adaptable Program Lending (APL) Phase I project is to improve the legislative, institutional, financial, fiduciary and technical framework to generate a pipeline of bankable PPP projects. The overall objective of this Adaptable Program Lending (APL) two-phased initiative is to assist the GoG to increase targeted infrastructure and other social service levels and qualityby mobilizing private sector participation through a public-private partnership (PPP) model. Leveraging greater volumes of private sector investment in infrastructure provision is a critical Program end-objective. The two-phased APL is designed to promote the creation of a sustainable and cost-effective PPP market in Ghana. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Institutional, Fiduciary, Legislative and Financial Capacity Building 10.00 PPP Pipeline Preparation and Transaction Advisory Support 18.50 Public Disclosure Copy Project Management and Monitoring & Evaluation 1.50 This component tab is not necessary since the project only has 3 components but we are unable to 0.00 delete it. Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Substantial Substantial Page 1 of 7 The World Bank Report No: ISR10440 Implementation Status Overview The project became effective on Dec 26, 2012; thus within the expected timeline (and before the Africa Regional Red Flag). A first supervision mission took place on Feb 2013 and the related Aide Memoire was issued to government on March 4, 2013. It is worthwhileto note that presidential elections took place in Ghana in December 2012 and the results were peaceful. However, this has led to an understandable slowdown in the Public Disclosure Copy project over the first 3 months of 2013 as new government officials were being assigned. These circumstanced need to be born in mind when assessing the project of this project since the last ISR , early December 2012. Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target PPP Law enacted Text Value No Yes Date Comments A first draft of the PPP law has been developed and discussed with the Bank team in Sept 2012. The second draft was discussed withthe bank team in May 2013. A third (and possibly a final draft) is expected by July/Sept 2013. Associated PPP Regulations approved in Text Value No Yes accordance with PPP Law. Date Comments Regulations in Ghana are in the form of Schedules of a Law. In such case this indicators may be combined Public Disclosure Copy with the one above, pertaining to the submission of the PPP Law. EOIs are issued to prospective sponsors Text Value 0 3 \concessionaires for three PPP transactions. Date Comments Intermediate Results Indicators Page 2 of 7 The World Bank Report No: ISR10440 Indicator Name Core Unit of Measure Baseline Current End Target PPP Bill submitted to Cabinet Text Value No A first draft of the PPP law Yes has been developed and Public Disclosure Copy discussed with the Bank team in Sept 2012. The second draft was discussed withthe bank team in May 2013. A third (and possibly a final draft) is expected by July/Sept 2013. Date Comments Regulations in Ghana are in the form of Schedules of a Law. In such case this indicators may be combined with the one pertaining tothe submission of the PPP Law. Unsolicited Bid Guidelines for inclusion in PPP Text Value No A releavnt part of the UB Yes Regulations prepared and approved by the Guidlines will be included in commitee the PPP law, for which an update was provided above. In the meantime MoFEP has sent to MDAs a circular on how to temporarily address US Bids. Date Comments NO MoU signed between MoFEP and line Number Value 0.00 3.00 2.00 ministries Date Comments Letters from Ministry of Transport, Ministry of Health, and Ministry of Roads to Public Disclosure Copy MoFEP are available Establishment and operationalisation of PPP Text Value No Yes Approval Committee Date Comments A number of meetings of the committee have been undertaken. Committee meeting invitation letters and minutes are available. Page 3 of 7 The World Bank Report No: ISR10440 Seven year bonds issued by Government of Text Value No Yes Ghana Date Comments Ghana has recorded a surge Public Disclosure Copy in its deficit of 12% and is revisiting its Debt Management Framework with advice from PREM and the treasury in the World Bank Establishment and operationalisation of the Text Value No Yes VGS Date Comments A world bank study is currently in progress to support the government on this initiative. Furthermore the government is at the final stages of hiring a VGF consultant to develop a VGF framework. Establishment and operationalisation of BOG Text Value No Yes unit to provide Apex role for FIL Date Comments The BoG has just hired a consultant to help them design their APEX role for the FIL The work has just started. Participating Financial Institutions (PFI) Number Value 0.00 0.00 3.00 selected after due diligence has been carried Date out Comments The BoG consultant mentioned above will help with this PFI selection process by working closely with the Banking Supervision Public Disclosure Copy Department of BoG. Pre-feasibility studies completed Number Value 0.00 1.00 5.00 Date Comments NO Objections have been provided on the EOI and a short list for Transaction Advisors (TA) to undertake : (1) PFS for Accra-Takoradi Road, and (2) Takoradi Port, as PPPs. Furthermore a No Page 4 of 7 The World Bank Report No: ISR10440 Obj was provided on the RFP for the Accra-Takoradi road. Also the IDA Commercial Ag Project is currently in the Public Disclosure Copy process of developing the PFS for Accra Plans PPP (#3). Finally, a PFS for Korle Bu Diagnostic Center (done by IFC Advisory) has been completed and delivered to government in Feb 2013. Further a number of new PPP transactions have been identified in the Aide Memoire for the Feb 2013 supervision mission. Full Feasibility studies completed Number Value 0.00 0.00 4.00 Date Comments None to day. This is expected after Pre-feasiblity studies are undertaken first (this is as per the National Policy on PPPs) Line Agency PMUs established and Number Value 0.00 6.00 2.00 operationalised for First Mover Transactions Date Comments Letters from MDAs to MoFEP outlining their PPP teams have been received, from: Ministry of Transport, M of Roads, M of Health, Ghana Water Company, Korle Bu Hospital, Ghana Harbor Authority First moving transactions meets criteria for Number Value 0.00 0.00 1.00 Public Disclosure Copy funding in phase II Date Comments This is to early to achieve. This indicator is only achieved after the pre-feas and full-feas are developed by Transaction Advisorsand approved by government which is a process that can take at least two years. Page 5 of 7 The World Bank Report No: ISR10440 Complete Relevant Safeguards Government Number Value 0.00 0.00 4.00 Reports for PPP Projects as outlined in the Date PPP policy Comments Non of the safeguards reports Public Disclosure Copy are due yet. They become relevant when transactions are at the full feasibility study phase. Draft Regulations submitted to Cabinet Yes/No Value No No Yes Date Comments As previously noted Regulations in Ghana are in the form of Schedules of a Law. In such case this indicators may be combined with the one above, pertaining to the submission of the PPP Law. PPP Fiscal Commitment and Contingent Text Value No Yes Liability Framework established Date Comments A study on FC from PPPs has been prepared by the World Bank. It was presented and discussed in Ghana to the MOFEP in May and Sept 2012. Now it is pending to be adopted by GoG and the PPP Approval Committee. MoFEP is now working on adopting the report. Data on Financial Performance (as of 10-Apr-2013) Public Disclosure Copy Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P125595 IDA-50970 Effective 27-Mar-2012 22-Nov-2012 26-Dec-2012 31-Aug-2016 31-Aug-2016 P125595 IDA-Q7730 Effective 26-May-2011 31-May-2011 31-May-2011 31-Jul-2012 31-Dec-2012 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P125595 IDA-50970 Effective XDR 19.40 19.40 0.00 2.22 17.18 11.00 Page 6 of 7 The World Bank Report No: ISR10440 P125595 IDA-Q7730 Effective USD 3.00 3.00 0.00 0.74 2.26 25.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation None. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 7 of 7