The World Bank Nigeria - Public/Private Partnership Program (P115386)

Transcription

1 Public Disclosure Authorized AFRICA Nigeria Trade & Competitiveness Global Practice IBRD/IDA Adaptable Program Loan FY 2011 Seq No: 9 ARCHIVED on 31-Dec-2015 ISR22159 Implementing Agencies: Coordinating Ministry of Finance and Economy Public Disclosure Authorized Key Dates Key Project Dates Bank Approval Date:17-Mar-2011 Planned Mid Term Review Date:21-Oct-2015 Original Closing Date:29-Dec-2017 Project Development Objectives Effectiveness Date:15-Dec-2011 Actual Mid-Term Review Date:11-Dec-2015 Revised Closing Date:29-Dec-2017 Public Disclosure Authorized Project Development Objective (from Project Appraisal Document) The overall development objective (PDO) for this APL Program is to increase private investment in the Nigeria PPP infrastructure market and specifically the core infrastructure sectors. The development objective for Phase I is to establish effective institutionaland technical mechanisms and instruments for origination and development of PPP projects. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Public Disclosure Authorized Name 1. Capacity Building and Legal/Regulatory Reform:(Cost $39.60 M) 2. PPP Preparation and Transaction Advisory Support:(Cost $62.70 M) 3. Project Implementation and Monitoring and Evaluation:(Cost $7.90 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Unsatisfactory Overall Risk Rating Substantial High 12/31/2015 Page 1 of 7

2 Implementation Status and Key Decisions 1. The Mid-Term Review (MTR) for the project took place December 7-11, Following this MTR, the Nigerian authorities and the World Bank need to agree on a significant restruturing of the project to ensure the project is able to meet its development objective: i.e. effectively supporting the development of PPPs in infrastructure in Nigeria /31/2015 Page 2 of 7

3 Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Substantial Substantial Macroeconomic -- Moderate Substantial Sector Strategies and Policies -- Low High Technical Design of Project or Program -- Substantial High 12/31/2015 Page 3 of 7

4 Institutional Capacity for Implementation and Sustainability -- Substantial High Fiduciary -- Substantial Substantial Environment and Social -- Substantial Substantial Stakeholders -- Substantial Substantial Other Overall -- Substantial High Results Project Development Objective Indicators PHINDPDOTBL Private investment in core PPP infrastructure investment reaches US$1 billion (Amount(USD), Custom) Value Because of the unconducive legal and institutional framework for PPP, Nigeria is not able to achieve its potential for PPP investement. PHINDPDOTBL Completion (financial closure) of a minimum of three (3) #Demonstration Effect# PPP projects (Number, Custom) Value No PPP transaction supported by the Project has reached financial closure yet. Overall Intermediate Results Indicators 12/31/2015 Page 4 of 7

5 PHINDIRITBL PHINDIRITBL PHINDIRITBL Signing of MOUs between sponsoring ministries (SP is defined here to include works, transport, aviation, power, FCT) and ICRC (Number, Custom) Value Two MOUs with Nigeria Inland Water Authority and Ministry of Agriculture were agreed upon and forwarded for signing. To date, none of the MDAs (Ministries, Department and Agencies) have signed the MOUs. Establishment of PPP ProjectTeams/Units in each of the Sponsoring Ministries to effectively manage PPP development work in line with approved Long-List Pipeline (Number, Custom) Value There is a PPP Unit within the Ministry of Public Works (now Ministry of Power, Works and Housing) and a PPP Unit within the Ministry of Health. It is unclear whether the establishment of these PPP Units can be attributed to the Project. The FMOF PPP unit considers it does not have the mandate to establish or follow up on the number of PPP Units in the sponsoring ministries (as ICRC sent out a circular to all MDAs to establish PPP Units, all information regarding PPP Units should be obtained from ICRC). Presidential approval of detailed PPP regulations and evidence of the active application of these regulations to the PPP business activities (Yes/No, Custom) Value N N N Y No Presidential approval of detailed PPP regulations. In addition to the 2005 ICRC Act, the Federal Executive Committee (FEC) approved a National PPP Policy in 2009 and ICRC issued guidelines in 2014 highlighting the required process to complete PPP transactions (however these guidelines are challenged by various stakeholders involved in PPPs). 12/31/2015 Page 5 of 7

6 PHINDIRITBL Completion of up to 15 Outline Business Case (OBC) proposals and related safeguards assessments submitted to Minister of Finance for clearance in line with National PPP Policy Guidelines (Number, Custom) Value One OBC was completed for Kikikiri Lighter Terminal I&II, which has now reached FBC (Full Business Case) stage. Another OBC has been completed in October 2015 for the concession of Onitsha, Oguta, Lokoja and Baro river ports. Overall Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P IDA Effective XDR % Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P IDA Effective 17-Mar Sep Dec Dec Dec-2017 Cumulative Disbursements 12/31/2015 Page 6 of 7

7 Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/31/2015 Page 7 of 7