Antigua and Barbuda PLAN OF OPERATIONS. I. Basic Data. Business Climate and Competitiveness Enhancement Technical Cooperation

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1 Antigua and Barbuda PLAN OF OPERATIONS I. Basic Data Project Name: Strengthening Investment Attraction in Antigua and Barbuda Project Number: Compete Caribbean Pillar: Business Climate and Competitiveness Enhancement Facility (BCCE) Compete Caribbean Focus Area: Business Climate and Competitiveness Enhancement Technical Cooperation Project Team: UMANA, MARIO ALBERTO CARRION MENENDEZ, ALEJANDRO RAPSON, LEANNE MICHELLE ELLIOTT, WAYNE ANTONIO PERSAUD, TARA LISA ROSHINI SCOTT, CHRISTINE ANN Team Leader Alternate Team Leader Operations Analyst Operations Analyst Team Member M&E Specialist Target Beneficiaries: The public and private sector, particularly foreign and domestic investors Counterpart Agency: Ministry of Finance, the Economy and Public Administration General Objective: Specific Objectives: The ultimate goal is to foster sustainable economic growth and enhance competitiveness in Antigua and Barbuda. The general objective is to improve the enabling environment for business development, trade, and integration. The specific objective is to rationalize and strengthen investment promotion in Antigua and Barbuda. Execution Period: 15 month(s) Financing plan: Compete Caribbean: Local Counterpart: Total: $366, $116, $482, Monday, February 02, /15

2 II. Background and Justification A. Problem Statement Antigua and Barbuda s economy has been severely impacted by the global economic and financial crisis ( ). Falling tourism and Foreign Direct Investments (FDI)-related construction activities have triggered the worst recession witnessed by the country in decades. Real GDP contracted by 9.6 % in 2009 and 4.1% in 2010 after expansions on average of about 6% between 2003 and These sharp contractions are symptomatic of a very concentrated economic base. In 2011 the tourism sector accounted for over 65% of GDP and absorbs most FDI inflows to the country. FDI net inflows were estimated at 26% of GDP in Research suggests that growth will continue to be led by the tourism sector and targeted FDI attraction will encourage private sector capital formation and could stimulate economic diversification. Under the Investment Authority Act of 2006, the government established the Antigua and Barbuda Investment Authority (ABIA) as the primary institution for domestic and foreign investment attraction and SME development. In its first four years of operation, with limited marketing, the ABIA approved 259 investment projects with a total value of approximately US$1 billion. Over 70% of these investments were FDI that came on stream between 2007 and 2008, particularly for hotel related projects. However, since 2009, FDI for hotel type investments have declined by 95% and existing projects have stalled due to liquidity challenges in the international financial market. As such, since 2009 most of ABIA s approved projects are domestic investment projects (i.e. of the 95 projects approved , only 5 were FDI). Although several reasons can be identified for continued work in the promotion of domestic private investment, which has been ABIA s main focus since 2009, trade and investment promotion should arguably focus more on FDI since this is likely to be the main source of capital needed to stimulate the necessary economic diversification in the country. Furthermore, ABIA has not been able to proactively promote investments in key high growth sectors because of resource constraints. Of note is the fact that of a total of 14 staff in ABIA, only two staff members work in the investment promotion division, while the others are split between the Small and Medium Sized Enterprise (SME) Development division and Office Administration. In addition, the Government of Antigua & Barbuda has identified Tourism and Financial Services, Health and Wellness, Business Support Services, Education and Logistics as priority investment promotion sectors. Notwithstanding, limited analytical work has been done to validate the prioritization of these sectors and there is a shortage of strategic documentation to illustrate the nature and extent to which the island can absorb FDI in these sectors. As such, in order for ABIA to be more effective at marketing Antigua and Barbuda s unique selling points, there is a need to strengthen the agency s institutional architecture and upgrading its human resource capabilities, including its strategic management; increasing the focus on monitoring and evaluation; and clarifying the sectorial opportunities that exists for investment promotion in the country. The Government has indicated that it intends to pursue targeted initiatives in this regard. Specifically, the Minister of Finance, the Economy and Public Administration, in his 2011 Budget Address, noted that given the international decline in FDI, it is imperative for Antigua and Barbuda to actively pursue investment attraction in niche areas where the country experiences a comparative advantage, (See 2011 Budget Statement A Disciplined Approach to Sustainable Growth: The NEST Plan unfolds, p.g. 49/109). B. Coordination and Synergies The Bank is currently implementing RG-T1767: Private Sector Development Strategies for the Eastern Caribbean States which will finance the development of Private Sector Development Strategies (PSDS) for the six independent member states of the OECS. The six independent member states of the OECS are Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. Also, the Bank is currently developing an Aid for Trade Strategy for the Caribbean, which will incorporate a paper defining the priorities for the members of the OECS. The strategy is expected to be completed by the end of The proposed project () will increase the availability of economic data to be used in the development of the mentioned strategies. In addition, will benefit from RG-X1074: Measuring Competitiveness for Private Sector Development in the Caribbean, a Technical Cooperation under execution, which will develop baseline data and information to help governments in CARIFORUM countries better define their competitiveness strategies and have firm level data to better understand the size and demands of the existing private sector. Furthermore, the Government of Antigua and Barbuda is in dialogue with the International Financial Cooperation to develop a comprehensive business registration program for the country. This project is expected to be advanced in This project complements as it proposes to reduce the cost and time required for business registrations, including new FDI related businesses. This will undoubtedly make a significant contribution to improving the investment climate since the first hurdle most investors face when making Greenfield investments relates to the establishment and registration of new businesses. In addition, the second annual consultation of the Caribbean Association of Investment Promotion Agencies (CAIPA) has included the following activities for its 2011/2012 work plan: (i) capacity building and training through site visits to successful global Investment Promotion Agencies (IPAs), and (ii) international marketing for Caribbean countries. As such, this project () compliments the work to be undertaken by CAIPA as it will: (i) provide opportunities for capacity building and training in key techniques for investment promotion, techniques that can be better understood and reinforced with site visits; (ii) clarify investment opportunities and detail sector advantages for investment promotion in the country. This will allow a more focussed presentation of key benefits to investing in Antigua and Barbuda when ABIA participates in international marketing arrangements undertaken by CAIPA. Monday, February 02, /15

3 III. Project Objectives and Description A. General Objectives The ultimate goal is to foster sustainable economic growth and enhance competitiveness in Antigua and Barbuda. The general objective is to improve the enabling environment for business development, trade, and integration. B. Specific Objectives The specific objective is to rationalize and strengthen investment promotion in Antigua and Barbuda. C. Expected Results The expected outcomes are: i. Specific niche areas for investment promotion prioritized; and ii. Institutional capacity to attract investment enhanced. The expected outputs are as follows: i. Sector strategies developed; ii. Comprehensive strategic plan and business plan for ABIA created; iii. ABIA staff trained; iv. Cost/benefit analysis tool; v. Monitoring and Information Management systems established; and vi. Marketing and Investment materials developed. Monday, February 02, /15

4 IV. Project Components Component Name 1: Analytical Work to Clarify Investment Opportunities 2: Institutional Strengthening for Investment Attraction 3: Capacity Building and Training 4: One Stop-Shop for Business Registration Description There is a dearth of analytical evidence to justify the prioritization of sectors for investment promotion and limited documentation of comparative advantages accruable to sectorial prioritization in the country. In order to be more effective in attracting high value added investments to the most promising sectors and subsectors in the country, this component will finance consultancy services to analyse the economic structure of Antigua and Barbuda, evaluating the sectorial development of the country and recommend at least five (5) sectors/sub-sectors that can be prioritized for investment promotion. This consultancy services will include the development of a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis for each of the five recommended sectors. Based on the recommendations from the consultancy above, the project team and the government will agree on three sectors and/or sub-sectors, for which three comprehensive sector strategies and implementation plans for investment promotion will be developed. These strategies will outline the sectors potential for: (i) employment generation, particularly high quality employment; (ii) innovation; (iii) creating strong linkages with the domestic economy; (iv) developing clusters and value chains; (v) exploiting the comparative advantages of the country; and (vi) stimulating strong economic growth in the general economy. The component will also finance consultancy services to develop key promotional/marketing materials, particularly adaptable for use in social networking media, including short videos, electronic messages, print materials and pictures to enable ABIA to provide a concise presentation of investment opportunities in the prioritized sectors. This information will also be appropriately reflected on ABIA s website. All promotional and marketing materials will be gender and youth sensitive. This component will finance consultancy services to review ABIA s current institutional set up, including its management structure and current staffing and develop recommendations to bring the institution in line with international best practices for investment promotion agencies. The consultancy will include the development of a three year strategic plan and a business plan that clearly outlines the institutions focus, mandate, targets over the medium term and a plan to ensure sustainability of the agency. These consultancy services will also include specialized support to develop and train ABIAs staff to use a practical and appropriate econometric model that will allow ABIA to clearly demonstrate a cost/benefit calculation of the impact of various submitted investment proposals on key macroeconomic indicators of the country.presently, there are only two persons in the investment promotion unit in ABIA. This component will finance the hiring of one additional staff for ABIA for two years to increase the compliment of the Investment Promotion Unit to at least three persons. Costs related to the hiring of this additional staff member will be funded by ABIA as part of the government s counterpart contributions. The component will also finance consultancy services to develop a Monitoring and Evaluation (M&E) system to support ABIA s overall measurement of its effectiveness for investment promotion and performance measurement indicators for its staff. This component will finance consultancy services to implement a one month training/handholding/coaching program for ABIA s staff in investment attraction, business facilitation and aftercare services, including soft skills such as making presentations, negotiation, strategy and leadership. Specifically, the component will finance the hiring of two consultants to: (i) design and implement a one week training program in Antigua for the three ABIA staff; and (ii) maintain a mentoring role for three weeks, helping ABIA s staff identify and attract potential investors in the priority sectors. Furthermore, to ensure that the staff benefits from international lessons learned and get hands on training in a world renowned IPA, the component will finance three study tours for three (3) senior ABIA staff to a well established investment promotion agency for a period of 15 days each. Business registration is a key aspect of Antigua and Barbuda's investment climate and one that directly affects incoming FDI projects. This component will finance consultancy services aimed at the implementation of the recommendations of One Stop Shop Window implementation report commissioned under Compete Caribbean's CGF Facility (RG-CC2060). Monday, February 02, /15

5 V. Cost and Financing/Budget AI-MOFEPA CC Grand Total Cash Kind Cash 1 Analytical Work to Clarify Investment Opportunities $0.00 $7, $74, $81, $0.00 $7, $74, $81, Institutional Strengthening for Investment Attraction $60, $3, $237, $300, $60, $3, $237, $300, Capacity Building and Training $41, $5, $22, $69, $41, $5, $22, $69, Final Evaluation Component $0.00 $0.00 $11, $11, $0.00 $0.00 $11, $11, One Stop-Shop for Business Registration $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $ Contingencies Component (5.93%) $20, $20, $20, $20, Grand Total $101, $15, $366, $482, Monday, February 02, /15

6 VI. Executing Arrangements The project will be executed by the Bank, through the CC-Program Coordination Unit (PCU) established in Country Office Barbados under ICF/CMF. Project implementation will be carried out in close coordination with the Ministry of Finance through the Antigua and Barbuda Investment Authority (ABIA). For effective implementation, the Ministry of Finance will designate a project coordinator to act as technical counterpart and be the contact person for the CC Project Team on all matters related to the implementation of the project. The Bank and The Ministry of Finance will sign a letter of agreement defining their respective roles and responsibilities for the implementation of the project. In-kind contribution refers to the use of existing government staff time and other non cash resources dedicated to the execution of the project. The Caribbean Development Bank will act as Financial Agent for the Bank in the implementation of this project. The period of execution is 15 months and the disbursement period will be 21 months. Execution can begin once the letter of agreement has been signed. Procurement under the project using CC resources will be done by the CC-PCU according to the policies and procedures of the Inter-American Development Bank. Procurement of goods and services for the project shall be in accordance with the Bank s policies for the Procurement of Works and Goods (GN ) and the Policies for the selection and Contracting of Consultants (GN ) of March VII. Monitoring and Evaluation A. Monitoring Description The monitoring of the program will be based on the implementation of the Results Framework. B. Technical and Basic Responsibility The Integration and Trade Sector (INT/INT) and the CC-PCU will have the main technical responsibility for the implementation of the project, which will be coordinated by Mario A Umaña (INT/INT), mariou@iadb.org as Team Leader; and Diego Morris (IFD/CMF), dmorris@iadb.org as Alternate Team Leader. Leanne Cumberbatch, (CCB/CBA) address: leannec@iadb.org will support the execution of the project from IDB Country Office Barbados. C. Evaluations/Progress and Final Report The monitoring of the program will be based on the implementation of the Results Framework. The project coordinator from the Government of Antigua and Barbuda will prepare and submit project status reports to the project team leader and the CC-PCU within 30 days of the completion of each semester by calendar and a project completion report within three months of final disbursement. ABIA will store and provide access to all necessary information and documentation required to conduct the monitoring and evaluation of the project. The project status reports will include, but not be limited to: (a) information about budget performance and the contributions from local counterpart funds; (b) progress made in meeting project objectives during the previous six months, referencing the performance indicators, including gender equality indicators; (c) discussion of factors contributing to variances between expected and actual results; (d) Progress to implement the gender strategy; (e) any required risk mitigation or problem solving actions; (f) priorities for the next semester; (g) sustainability considerations and lessons learned. A template for the report will be provided to the counterpart agency at the start of the project. To support the monitoring and evaluation of the Project, the ABIA will track the number of new FDI inflows over the period, as well as developments in the sectors and sub sectors identified; institute a monitoring and information management system that will track the effectiveness of the programs offered by the organization, staff training, as well as the effectiveness of the new staff incentive program; develop a mechanism to evaluate the success of the Investment Forum, including systems to record and track the number of participants, investors, investor satisfaction with the forum and follow up activities by ABIA from the forum; develop a mechanism to evaluate the effectiveness of the website and marketing materials that are developed to boost investment attraction. Compete Caribbean will finance a final evaluation to be conducted three months after the end of project execution or when 95% of Compete Caribbean s contribution has been disbursed. The Terms of Reference for the final evaluation will be jointly developed by Compete Caribbean s M&E Specialist and Project Team Leader, in consultation with the Project Coordinator. VIII. Benefits and Risks A. Benefits and Impact The activities undertaken in the project will help to prioritize the niche economic sectors for development in Antigua and Barbuda where a comparative advantage may exist, and strengthen the institutional architecture for investment promotion in the country. With clear objectives, a sound marketing campaign, and enhanced human resource capacity to provide key services to investors, ABIA will be better positioned to meet its mandate, become an important partner for the private sector, and generate substantial investor interest in the country. It is therefore expected that these results will lead to greater and more consistent financial support from the government for the activities undertaken by ABIA, thus resulting in a more sustainable model for investment attraction. Notwithstanding, a sustainability plan will be developed under component II for ABIA. This plan is intended to inform government s decision on budgetary allocations for ABIA over the medium term. B. Risks and Mitigation Measures There is a risk that the government of Antigua and Barbuda is unable to finance the activities that require counterpart resources due to very tight fiscal Monday, February 02, /15

7 There is a risk that the government of Antigua and Barbuda is unable to finance the activities that require counterpart resources due to very tight fiscal constraints. This risk is deemed low. Nevertheless, to mitigate this risk, the Bank and the Government will sign a Letter of Agreement with the government to clarify the expectations of each party in the execution of this project. Furthermore, the government has already made provisions in its 2012 budgetary estimates to finance the relevant activities. IX. Recommendation UMANA, MARIO ALBERTO, Team Leader of the current Project, recommends the approval of the operation and the use of CC resources up to $366, X. Approval Approved By: MORRIS, DIEGO Executive Director. COMPETE CARIBBEAN Date of Approval: 7/13/2012 Monday, February 02, /15

8 Annexes Annex I - Description of Project Components and Activities Component Name 1: Analytical Work to Clarify Investment Opportunities 1.A: Consultancy 1: Economic Analysis and Development of Sector Strategies and Promotional Material 2: Institutional Strengthening for Investment Attraction 2.A: Consultancy 2: Consultancy Firm to Support Institutional Strengtening 2.A.1: Consultancy Firm 2.B: Consultancy 3: Technical support for ABIA 3: Capacity Building and Training 3.A: Consultancy 5: Design and implement training and mentoring program 3.B: Workshop for trainings 3.C: Study tour 4: Final Evaluation Component 4.A: Final Evaluation 4: One Stop-Shop for Business Registration Description There is a dearth of analytical evidence to justify the prioritization of sectors for investment promotion and limited documentation of comparative advantages accruable to sectorial prioritization in the country. In order to be more effective in attracting high value added investments to the most promising sectors and subsectors in the country, this component will finance consultancy services to analyse the economic structure of Antigua and Barbuda, evaluating the sectorial development of the country and recommend at least five (5) sectors/sub-sectors that can be prioritized for investment promotion. This consultancy services will include the development of a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis for each of the five recommended sectors. Based on the recommendations from the consultancy above, the project team and the government will agree on three sectors and/or sub-sectors, for which three comprehensive sector strategies and implementation plans for investment promotion will be developed. These strategies will outline the sectors potential for: (i) employment generation, particularly high quality employment; (ii) innovation; (iii) creating strong linkages with the domestic economy; (iv) developing clusters and value chains; (v) exploiting the comparative advantages of the country; and (vi) stimulating strong economic growth in the general economy. The component will also finance consultancy services to develop key promotional/marketing materials, particularly adaptable for use in social networking media, including short videos, electronic messages, print materials and pictures to enable ABIA to provide a concise presentation of investment opportunities in the prioritized sectors. This information will also be appropriately reflected on ABIA s website. All promotional and marketing materials will be gender and youth sensitive. Consultancy to review Antigua's economic structure and develop three sector strategies and implementation plans This component will finance consultancy services to review ABIA s current institutional set up, including its management structure and current staffing and develop recommendations to bring the institution in line with international best practices for investment promotion agencies. The consultancy will include the development of a three year strategic plan and a business plan that clearly outlines the institutions focus, mandate, targets over the medium term and a plan to ensure sustainability of the agency. These consultancy services will also include specialized support to develop and train ABIAs staff to use a practical and appropriate econometric model that will allow ABIA to clearly demonstrate a cost/benefit calculation of the impact of various submitted investment proposals on key macroeconomic indicators of the country.presently, there are only two persons in the investment promotion unit in ABIA. This component will finance the hiring of one additional staff for ABIA for two years to increase the compliment of the Investment Promotion Unit to at least three persons. Costs related to the hiring of this additional staff member will be funded by ABIA as part of the government s counterpart contributions. The component will also finance consultancy services to develop a Monitoring and Evaluation (M&E) system to support ABIA s overall measurement of its effectiveness for investment promotion and performance measurement indicators for its staff. Consultancy to review ABIA s current institutional set up, design business plan, develop and support the implementation of reforms needed to make the institution more effective,including the development of a M&E system for ABIA Consultancy firm with international experience supporting investment promotion Technical support for investment attraction This component will finance consultancy services to implement a one month training/handholding/coaching program for ABIA s staff in investment attraction, business facilitation and aftercare services, including soft skills such as making presentations, negotiation, strategy and leadership. Specifically, the component will finance the hiring of two consultants to: (i) design and implement a one week training program in Antigua for the three ABIA staff; and (ii) maintain a mentoring role for three weeks, helping ABIA s staff identify and attract potential investors in the priority sectors. Furthermore, to ensure that the staff benefits from international lessons learned and get hands on training in a world renowned IPA, the component will finance three study tours for three (3) senior ABIA staff to a well established investment promotion agency for a period of 15 days each. Consultancy to design and implement training and mentoring program Workshop for trainings (venue and food) Study tour for core staff working in the investment promotion unit Project Final Evaluation Project Final Evaluation Business registration is a key aspect of Antigua and Barbuda's investment climate and one that directly affects incoming FDI projects. This component will finance consultancy services aimed at the implementation of the recommendations of One Stop Shop Window implementation report commissioned under Compete Caribbean's CGF Facility (RG-CC2060). Monday, February 02, /15

9 4.A: Implementation of the One Stop Shop 5: Contingencies Component (5.93%) 5.A: Contingencies (2.95%) Business registration is a key aspect of Antigua and Barbuda's investment climate and one that directly affects incoming FDI projects. This component will finance consultancy services aimed at the implementation of the recommendations of One Stop Shop Window implementation report commissioned under Compete Caribbean's CGF Facility (RG-CC2060). Project Contingencies Project Contingencies Monday, February 02, /15

10 Project Detailed Budget CC AI-MOFEPA Grand Total Cash Cash Kind 1 Analytical Work to Clarify Investment Opportunities $74, $0.00 $7, $81, $74, $0.00 $7, $81, A Consultancy 1: Economic Analysis and Development of Sector Strategies and Promotional Material $74, $0.00 $7, $81, $74, $0.00 $7, $81, Institutional Strengthening for Investment Attraction $237, $60, $3, $300, $237, $60, $3, $300, A Consultancy 2: Consultancy Firm to Support Institutional Strengtening $237, $0.00 $3, $240, A.1 Consultancy Firm $237, $0.00 $3, $240, B Consultancy 3: Technical support for ABIA $0.00 $60, $0.00 $60, $0.00 $60, $0.00 $60, Capacity Building and Training $22, $41, $5, $69, $22, $41, $5, $69, A Consultancy 5: Design and implement training and mentoring program $2, $0.00 $0.00 $2, $2, $0.00 $0.00 $2, B Workshop for trainings $0.00 $10, $5, $15, $0.00 $10, $5, $15, C Study tour $20, $31, $0.00 $51, $20, $31, $0.00 $51, Final Evaluation Component $11, $0.00 $0.00 $11, $11, $0.00 $0.00 $11, A Final Evaluation $11, $0.00 $0.00 $11, $11, $0.00 $0.00 $11, One Stop-Shop for Business Registration $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $ A Implementation of the One Stop Shop $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $ Contingencies Component (5.93%) $20, $20, $20, $20, A Contingencies (2.95%) $20, $20, $20, $20, Grand Total $366, $101, $15, $482, Monday, February 02, /15

11 Annex III - Results Framework General and Specific Objectives: The ultimate goal is to foster sustainable economic growth and enhance competitiveness in Antigua and Barbuda. The general objective is to improve the enabling environment for business development, trade, and integration. The specific objective is to rationalize and strengthen investment promotion in Antigua and Barbuda. Indicator Unit of Measure Baseline Goal Means of Verification Comments Impact - Increased FDI inflows to Antigua and Barbuda. Increase in FDI as a % of GDP % (2010) (2015) World Bank To be verified with data from the World Bank Increase in dollar value of FDI generated by ABIA $ 0.00 (2010) 0.00 (2015) ABIA annual reports To be verified with data from ABIA Annual Report Number of FDI projects approved by ABIA (2010) (2015) ABIA annual report To be verified with data from ABIA Annual Report Outcome 1 - Institutional capacity to attract investment enhanced No. of foriegn investor enquiries (2010) (2015) ABIA Annual Report No. of FDI projects submitted to ABIA 6.00 (2010) (2015) ABIA Annual Report No. of domestic investor enquiries (2010) (2015) M&E system to be developed No. of domestic projects submitted to ABIA (2010) (2011) M&E system to be developed Output Analytical Work to Clarify Investment Opportunities Sector Strategies for prioritized sectors docs 0.00 (2011) 2.00 (2014) M&E system to be developed Implementation/action plans for investment promotion docs 0.00 (2011) 2.00 (2014) M&E system to be developed Marketing materials for prioritized sectors docs 0.00 (2011) (2014) M&E system to be developed Output Enter Name hinstitutional Strengthening for Investment Attractionere... Strategic Plan for ABIA docs 0.00 (2012) 1.00 (2014) ABIA Annual report Business Plan for ABIA docs 0.00 (2012) 1.00 (2014) ABIA annual report Performance Measurement Information System 0.00 (2012) 1.00 (2014) M&E system 1 Investment Promotion Consultant hired 2.00 (2012) 3.00 (2012) ABIA Annual report Monday, February 02, /15

12 Output Capacity Building and Training Staff trained 0.00 (2011) 3.00 (2013) M&E system to be developed Study tour (3 persons) 0.00 (2011) 3.00 (2013) ABIA annual report Monday, February 02, /15

13 Annex IV - Procurement Plan Activity Description Estimated Contract Cost Procurement Method CC Financing Prequalification Counterpart Financing Estimated Notice Month Estimated Completion Month Comments 1 Analytical Work to Clarify Investment Opportunities Monday, February 02, /15

14 Consultancy 1: Economic Analysis and Development of Sector Strategies and Promotional Material $81, QCII 91.36% 8.64% No 1 1 Due to changes in the management of ABIA, this activity has been slightly modified to ensure the counterpart derives optimal benefit from the project. Instead of developing the sector strategies under this activity, this activity will finance the hiring of consultancy services to support the strategic management of ABIA, strengthening the implementation capabilities of the organization and supporting the overall strategic planning that must now take place following the managerial overhaul that has occurred. To this end, an individual consultant has already been hired (Emmanuel Hess) to complete the first 60 days of work as per this activity. These responsibilities include, developing a suite of draft Terms of References for the revised project activities and supporting a strategic revision of ABIA s function and the overall management of the institution. This contract will be renewed for another 60 days once this initial work is completed for another 60 days to support the supervision, scheduling and relationship management with ABIA as it relates to the firm to be hired in Component 2 of this project. 2 Institutional Strengthening for Investment Attraction Monday, February 02, /15

15 Consultancy 2: Consultancy Firm to Support Institutional Strengtening $240, CQS 98.75% 1.25% No 6 9 This consultancy will cover activities related to the development of two sector strategies (one less than originally planned), training for ABIA s staff, support for advocacy, marketing and general implementation of investment attraction activities. Consultancy 3: Technical support for ABIA $60, QCNI 0.00% % No 1 1 This activity will be financed by ABIA 3 Capacity Building and Training Consultancy 5: Design and implement training and mentoring program $2, QCII % 0.00% No 7 8 This consultant will focus on developing and supporting the implementation of a strategic alliances action plan for ABIA as well as providing coaching and mentorship through a process of change management. Workshop for trainings $15, DC 0.00% % No Study tour $51, DC 38.83% 61.17% No 1 15 Annex V - Supporting Documentation Document Name Link Environmental Sustainability Strategy: Gender Equality Strategy: Other: Environmental Sustainability Strategy Gender Equality Strategy Executive Committee Review and Revisions of Plan of Operations Monday, February 02, /15