Public Disclosure Copy The World Bank Implementation Status & Results Report Harmonization of Price Statistics & National Accounts in LAC Countries and Supporting the Estimation of PPP Time Series Harmonization of Price Statistics & National Accounts in LAC Countries and Supporting the Estimation of PPP Time Series OTHER | World | Recipient Executed Activities | Investment Project Financing | FY 2017 | Seq No: 1 | ARCHIVED on 01-Mar-2018 | ISR30479 | Implementing Agencies: United Nations Economic Commission for Latin America and the Caribbean (ECLAC), United Nations Economic Commission for Latin America and the Caribbean (ECLAC) Key Dates Key Project Dates Bank Approval Date:23-Nov-2016 Effectiveness Date:09-Feb-2017 Original Closing Date:31-Dec-2018 Revised Closing Date:31-Dec-2018 Project Development Objectives Project Development Objective (from Project Appraisal Document) The overall objective of the project is to build the capacity of pilot countries in the areas of price statistics and national accounts. Specific objectives include: (a) Improving country statistical capacity in the compilation of detailed disaggregated national accounts expenditure data, and addressing gaps identified in the 2011 ICP round. Efforts would focus specifically on improving difficult to measure areas, such as housing, financial services, net purchases abroad, services provided by non-profit institutions serving the households, etc.; (b) Improving the quality, comparability and consistency of consumer price data across the ten pilot countries, by advancing harmonization of CPI and ICP regional and sub-regional lists and survey activities; (c) Filling identified data gaps in price statistics and national accounts, and introducing a new approach to allow the production of regular annual estimation of PPPs for LAC countries; and (d) Promoting partnerships and strengthening the sense of ownership of the international comparison between national statistical offices (NSOs) and regional and international agencies by sharing good practices and building human capital. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  --  Satisfactory Overall Implementation Progress (IP)  --  Satisfactory 3/1/2018 Page 1 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Harmonization of Price Statistics & National Accounts in LAC Countries and Supporting the Estimation of PPP Time Series Implementation Status and Key Decisions The Grant Agreement for this project (USD 0.41m) was signed in early February 2017. Despite the delay, which occurred due to the introduction of new rules of engagement with UN agencies, the project is on track. ECLAC received grant funds just in time to support a first set of project activities, namely: - First workshop (in Santiago, Chile) end-June 2017; - ECLAC participation in global ICP meetings: ICP Governing Board Meeting 02 and Inter-Agency Coordination Group 04 in Sep. and Oct. 2017; - Technical assistance: In addition to the activities mentioned above, a consultant was hired to support preparation of survey material and methodologies (mid-June 2017). The First Technical Meeting of the ICP in Latin America and the Caribbean (LAC) was held on June 27-29, 2017, in Santiago, Chile. The meeting was organized jointly by the Caribbean Community Secretariat and the United Nations Economic Commission for Latin America and the Caribbean. The meeting was attended by representatives from LAC countries participating in the ICP 2017 cycle and the World Bank Global ICP Unit. The main objectives of the meeting were to finalize the 2017 regional item list and determine the timetable of regional activities and data requirements for the ICP 2017 cycle. Although data collection in the region was delayed following the meeting by recent climate disruption and natural disasters, implementation of the ICP in Latin America and the Caribbean is now underway. Over 30 countries from the region are expected to participate in the 2017 ICP cycle of activities. Overall, Project Development Objectives and Implementation Progress ratings are Satisfactory. Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall  --  --  Low Results Project Development Objective Indicators PHINDPDOTBL A summary report (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 15-Sep-2016 -- -- 31-Dec-2018 3/1/2018 Page 2 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Harmonization of Price Statistics & National Accounts in LAC Countries and Supporting the Estimation of PPP Time Series PHINDPDOTBL Workshops on Price Statistics and National Accounts Detailed Expenditures (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 2.00 6.00 Date 15-Sep-2016 -- -- 31-Dec-2018 Overall Comments Intermediate Results Indicators PHINDIRITBL A sub-regional/regional survey list and implementation of the surveys (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- Y Y Date 15-Sep-2016 -- -- 31-Dec-2017 PHINDIRITBL Training materials for price statistics and national accounts in Spanish/English (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 1.00 2.00 Date 15-Sep-2016 -- -- 31-Dec-2018 Overall Comments Data on Financial Performance Disbursements (by loan) 3/1/2018 Page 3 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Harmonization of Price Statistics & National Accounts in LAC Countries and Supporting the Estimation of PPP Time Series Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P160275 TF-A3985 Effective USD 0.41 0.41 0.00 0.14 0.27 35% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P160275 TF-A3985 Effective 23-Nov-2016 09-Feb-2017 09-Feb-2017 31-Dec-2018 31-Dec-2018 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 3/1/2018 Page 4 of 4 Public Disclosure Copy