Disclosable Restructuring Paper - Pap-Angren Railway - P146328 (Anglais)

The development objectives of the Pap-Angren Railway Project are to reduce transport costs and to increase transport capacity and reliability through the construction of a rail link between the Uzbek part of the Ferghana Valley and the rest of Uzbekistan...  Voir la suite The development objectives of the Pap-Angren Railway Project are to reduce transport costs and to increase transport capacity and reliability through the construction of a rail link between the Uzbek part of the Ferghana Valley and the rest of Uzbekistan. Despite that PDO is likely to be achieved due to completion of key activities, implementation progress has been facing major challenges since July 2018. Given the persistent delays in key procurement activities, the IP rating was downgraded to Moderately Unsatisfactory, and later, in December 2018, to Unsatisfactory due to inability of UTY to proceed in a timely manner with the contracting of AP-03 package resulting in declaration of mis-procurement by the Bank. However, with the submission of the overdue 2017 project audit in late-January 2019, and the request to restructure the project and cancel US dollar 72.87 million in uncommitted funds, the IP rating is upgraded from Unsatisfactory to Moderately Satisfactory. These hurdles had long served as a drag on implementation, but the way has been cleared for improved implementation.  Réduire