The World Bank Report No: ISR14625 Implementation Status & Results Yemen, Republic of Financial Infrastructure Project (P132311) Public Disclosure Copy Operation Name: Financial Infrastructure Project (P132311) Project Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 22-May-2014 Country: Yemen, Republic of Approval FY: 2014 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Central Bank of Yemen Key Dates Board Approval Date 25-Jul-2013 Original Closing Date 31-Dec-2019 Planned Mid Term Review Date Last Archived ISR Date 14-Sep-2013 Effectiveness Date 14-Nov-2013 Revised Closing Date 31-Dec-2019 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) To develop a financial institutional infrastructure that supports greater transparency and efficiency of financial transactions in the financial system. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Developing CBY’s Core System 11.40 Developing Payments System Infrastructure 3.40 Establishing CBY’s Public Credit Registry 2.90 Setting up Data Centers ,Systems Integration Services and Capacity building of CBY 2.30 Overall Ratings Public Disclosure Copy Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating High High Implementation Status Overview Implementation arrangements of the project were finalized with the Yemeni authorities, specifically with regard to confirming Project Management Unit (PMU) readiness to commence procurement, and financial management activities. All implementation activities have been agreed on and finalized. The project was approved by the World Bank’s Board of Executive Directors on July 25, 2013, and became effective on November 14, 2013. Page 1 of 4 The World Bank Report No: ISR14625 Locations No Location data has been entered Public Disclosure Copy Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Number of dashboards shared with the Board Number Value 0.00 0.00 10.00 of CBY, including CAMELS ratings, money Date 01-May-2013 27-Apr-2014 30-Jun-2019 market, reserve and treasury activities Comments indicators Value of RTGS transactions as a percentage of Number Value 0.00 0.00 85.00 GDP Date 01-May-2013 27-Apr-2014 30-Jun-2019 Comments Number of Inquiries received by the new Public Number Value 0.00 0.00 200000.00 Credit Registry Date 01-May-2013 27-Apr-2014 30-Jun-2019 Comments Percentage of women borrowers in the new Percentage Value 0.00 0.00 20.00 Public Credit Registry Date 01-May-2013 27-Apr-2014 30-Jun-2019 Comments Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Implementation of core components of Yes/No Value No No Yes payment systems infrastructure – RTGS, ACH Date 01-May-2013 27-Apr-2014 30-Jun-2019 and CSD- completed Comments Establishment of the new PCR Yes/No Value No No Yes Public Disclosure Copy Date 01-May-2013 27-Apr-2014 30-Jun-2019 Comments Number of financial institutions participating in Number Value 0.00 0.00 25.00 the new PCR Date 01-May-2013 01-Sep-2013 30-Jun-2019 Comments Establishing a data center Number Value 0.00 0.00 2.00 Date 01-May-2013 27-Apr-2014 30-Jun-2019 Comments Page 2 of 4 The World Bank Report No: ISR14625 Number of CBY Staff trained on operating the Number Value 0.00 8.00 65.00 system Date 01-May-2013 27-Apr-2014 30-Jun-2019 Comments Public Disclosure Copy Number of banks reporting data online and Number Value 0.00 0.00 10.00 feeding the data warehouse (banking Date 01-May-2013 27-Apr-2014 30-Jun-2019 supervision) Comments Percentage of the banking assets* covered by Percentage Value 0.00 0.00 75.00 the data warehouse system (banking Date 01-May-2013 27-Apr-2014 30-Jun-2019 supervision) Comments New issuance of T-Bills, T-Bonds, and Sukuk Number Value 0.00 0.00 45.00 Bonds through online system and recording of Date 01-May-2013 27-Apr-2014 30-Jun-2019 securities ownership in book entry form Comments Data on Financial Performance (as of 05-May-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P132311 IDA-H8700 Effective 25-Jul-2013 11-Oct-2013 14-Nov-2013 31-Dec-2019 31-Dec-2019 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P132311 IDA-H8700 Effective XDR 13.40 13.40 0.00 0.21 13.19 2.00 Disbursement Graph Public Disclosure Copy Page 3 of 4 The World Bank Report No: ISR14625 Public Disclosure Copy Key Decisions Regarding Implementation Document can be disclosed Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4