Grenada - Second Programmatic Resilience Building Development Policy Credit : P151821 - Implementation Status Results Report : Sequence 01

Public Disclosure Copy The World Bank Implementation Status & Results Report Second Programmatic Resilience Building Development Policy Credit (P151821) Second Programmatic Resilience Building Development Policy Credit (P151821) LATIN AMERICA AND CARIBBEAN | Grenada | Macro Economics & Fiscal Management Global Practice | IBRD/IDA | Development Policy Lending | FY 2016 | Seq No: 1 | ARCHIVED on 04-Nov-2016 | ISR25399 | Implementing Agencies: Government of Grenada Key Dates Key Project Dates Bank Approval Date:28-Oct-2015 Effectiveness Date:19-Nov-2015 Planned Mid Term Review Date:-- Actual Mid-Term Review Date:-- Original Closing Date:30-Nov-2016 Revised Closing Date:30-Nov-2016 Program Development Objectives Program Development Objective (from Program Document) The Program Development Objective of the proposed DPC/DPL series is to support Grenada in implementing a program of policy and institutional reforms to: (i) create conditions for private investment in a sustainable manner; (ii) support improved public resource management; and (iii) enhance resilience against natural disasters and key elements of resilience in the banking sector. PHRPDODEL Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  --  Satisfactory Overall Implementation Progress (IP)  --  Satisfactory Overall Risk Rating  --  Substantial Implementation Status and Key Decisions The Government has made important progress on key policy and institutional reforms supported under this DPC/DPL series to achieve the development objectives. The key measures achieved include the establishment of a new regulatory framework for the Tourism Authority, commencement of the commercialization of selected Government-owned agricultural estates by entering into commercial agreements, approval of a strategic plan for strengthening of tourism and agribusiness linkages, the PPP policy, a new procurement law, a new banking act, and the improved design of its social safety net programs to enhance their effectiveness and coverage by developing a beneficiary information management system and adopting a new targeting instrument. These measures are critical to strengthen the tourism and agribusiness sectors and their linkages, enhance the business environment, improve public resource management through more efficient procurement systems and better targeting of social safety net programs, and address vulnerability in the banking sector. Risks 11/4/2016 Page 1 of 7 Public Disclosure Copy  Public Disclosure Copy The World Bank Implementation Status & Results Report Second Programmatic Resilience Building Development Policy Credit (P151821) Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Moderate  --  Moderate Macroeconomic  Substantial  --  Substantial Sector Strategies and Policies  Low  --  Low Technical Design of Project or Program  Low  --  Low Institutional Capacity for Implementation and Sustainability  Substantial  --  Substantial Fiduciary  Moderate  --  Moderate Environment and Social  High  --  High Stakeholders  Low  --  Low Other  --  --  -- Overall  Substantial  --  Substantial Results Results Indicators PHINDIRITBL  Increase in tourist receipts (EC$ millions) Amount(USD), Custom) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 307.00 414.00 392.50 332.00 Date 01-Dec-2013 31-Dec-2014 31-Dec-2015 29-Dec-2017 PHINDIRITBL  Increase in total output of commercialized agricultural estates (tons) (Metric ton,Custom) (Metric ton, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 350.00 350.00 350.00 750.00 Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 11/4/2016 Page 2 of 7 Public Disclosure Copy  Public Disclosure Copy The World Bank Implementation Status & Results Report Second Programmatic Resilience Building Development Policy Credit (P151821) PHINDIRITBL  Commercialization of Government-owned agricultural estates (Number, Custom) (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 2.00 3.00 PHINDIRITBL  Increase in the number of farmers serviced by MNIB (Number, Custom) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1623.00 1982.00 2098.00 2500.00 Date 01-Dec-2013 30-Sep-2015 31-Dec-2015 29-Dec-2017 PHINDIRITBL  Reduction of the clearance time of border control procedures by half. (working days) (Days, Custom) (Days, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 6.00 6.00 6.00 3.00 Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 Comments This indicator was dropped and replaced with a new indicator during the preparation of the third operation. PHINDIRITBL  Increase in the share of PPP projects under development that are proceeding according to the processes and requirements defined in the PPP (Percentage, Custom) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1623.00 0.00 2098.00 100.00 Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 Comments During the third operation, the Government established a PPP policy committee. However, there are no active PPP projects. 11/4/2016 Page 3 of 7 Public Disclosure Copy  Public Disclosure Copy The World Bank Implementation Status & Results Report Second Programmatic Resilience Building Development Policy Credit (P151821) PHINDIRITBL  Implementation of a new mechanism for electricity tariff setting.(Yes/No, Custom) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 Comments This indicator was dropped and replaced with a new indicator during the preparation of the second operation. PHINDIRITBL  Share of installed power generation capacity from renewable energy technologies (percentage, custom) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 1.00 -- 1.00 3.00 PHINDIRITBL  Better alignment of the government employment structure with the recommendations of the HR audits.(Percentage, Custom) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 Comments This indicator was dropped to support the selectivity of the operation. PHINDIRITBL  Increase in the number of public entities that publish annual performance reports. (Number, Custom) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 11/4/2016 Page 4 of 7 Public Disclosure Copy  Public Disclosure Copy The World Bank Implementation Status & Results Report Second Programmatic Resilience Building Development Policy Credit (P151821) Comments This indicator was dropped to support the selectivity of the operation. PHINDIRITBL  Increased transparency of public procurement and confidence of the private sector in the system (publication of contract awards) (Yes/No, Custom) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N N Y Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 Comments Procurement regulations in support of the Procurement Law have been approved by Government. Publication of contract awards will be carrie out in parallel with theses activities. PHINDIRITBL  Share of SEED Program Beneficaries that are identifies by usign a targeting tool. (Percentage, Custom) (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 80.00 PHINDIRITBL  Reduction of the share of NPLs in the total loan portfolio of banks.(Percetnage, Custom) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 9.00 9.00 10.00 5.00 Date 01-Dec-2013 22-Oct-2015 31-Oct-2015 29-Dec-2017 Comments This indicator was dropped and replaced with a new indicator during the preparation of the second operation. 11/4/2016 Page 5 of 7 Public Disclosure Copy  Public Disclosure Copy The World Bank Implementation Status & Results Report Second Programmatic Resilience Building Development Policy Credit (P151821) PHINDIRITBL  Increase in the number of social programs using the targeting tool to identify beneficiaries. (Number, Custom) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 3.00 Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 Comments This indicator was dropped during the second operation. PHINDIRITBL  Increase in the proportion of new public/commercial buildings and private housing built in safe regulated areas, in accordance with regulatory acts. (Percentage, Custom) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 Comments This indicator was dropped to support the selectivity of the operation. PHINDIRITBL  Increase in the percentage of engineers registered. (Percentage, Custom) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 40.00 Date 01-Dec-2013 22-Oct-2015 31-Dec-2015 29-Dec-2017 PHINDIRITBL  Decrease of the share of debt with a maturity of less than 90 days. (Percentage, Custom) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 17.00 15.80 5.30 10.00 Date 01-Dec-2013 01-Aug-2014 31-Dec-2015 29-Dec-2017 11/4/2016 Page 6 of 7 Public Disclosure Copy  Public Disclosure Copy The World Bank Implementation Status & Results Report Second Programmatic Resilience Building Development Policy Credit (P151821) PHINDIRITBL  Provisions for loan losses to NPLs for the banking sector. (Percetnage, Custom) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 30.00 -- 40.00 60.00 Date 01-Dec-2013 -- 31-Dec-2015 29-Dec-2017 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P151821 IBRD-85460 Effective USD 5.00 5.00 0.00 5.00 0.00 100% P151821 IDA-57340 Effective USD 10.00 10.00 0.00 9.99 0.00 100% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P151821 IBRD-85460 Effective 28-Oct-2015 30-Oct-2015 19-Nov-2015 30-Nov-2016 30-Nov-2016 P151821 IDA-57340 Effective 28-Oct-2015 30-Oct-2015 19-Nov-2015 30-Nov-2016 30-Nov-2016 Tranches Restructuring History There has been no restructuring to date. Related Operations P147152-Grenada First Programmatic Resilience Building DPC ,P156761-Third Programmatic Resilience Building Development Policy Credit 11/4/2016 Page 7 of 7 Public Disclosure Copy