IMPACT REPORTING The World Bank is committed to transparent • Uncertainty: An important consideration in reporting of its green and climate-related estimating impact indicators and projecting financing, including the projects that are part of results is that they are based on assumptions. its Green Bond program. Detailed information for While technical experts aim to make sound all World Bank financed projects is available on the and conservative assumptions that are World Bank website http://projects.worldbank. reasonable based on the information available org. Project summaries and impact indicators at the time, the actual environmental impact for Green Bond eligible projects are summarized of the projects generally diverge from initial on the investor website at: http://treasury. projections. In general, behavioral changes worldbank.org/en/about/unit/treasury/ibrd/ibrd- or shifts in baseline conditions can cause green-bonds. deviations from projections. The following section lists the 91 World Bank • Comparability: Caution should be taken eligible projects supported by the financing of in comparing projects, sectors, or whole World Bank Green Bonds as of June 30, 2018. The portfolios because baselines (and base projects are organized by sector. Selected results years) and calculation methods may vary indicators, World Bank loan amount, share of loan significantly. In addition, the cost structures amount to total project costs, and the amount between countries will also vary, so that of Green Bond proceeds that have been allocated developing cost-efficiency calculations (such to support disbursements to each project are as results per dollar invested) could, for disclosed. Annex 1 describes the reporting example, place smaller countries with limited approach and should be read in conjunction with economies of scale at a disadvantage and will this report. not take into consideration country-specific context. Interpreting Reported Results • Omissions and qualitative results: Because the selected projects aim to provide social and The intention of impact reporting is to help developmental benefits as well as climate and investors develop a more detailed understanding environmental ones, they will have impacts of the climate and environmental impacts that across a much wider range of indicators can be expected or projected to result from than captured in the next section. Therefore, Green Bond eligible projects. Several key results exclusively focusing on the reported indicators indicators have been selected and where possible will leave out other important development quantified, but it is important to appreciate the impacts. Where quantitative data is inherent limitations of data reported. The main unavailable, qualitative indicators have been considerations to adequately interpret results are: included to illustrate other beneficial impacts. • Scope of results: Reporting is based on “ex- To better understand the developmental impacts ante” estimates of climate and environmental of projects and the broader country context, please impacts at the time of project appraisal and view the full project documentation available mostly for direct project effects, except as on the World Bank website at http://projects. indicated where the results have been updated worldbank.org/. for actual results at the time of project completion. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 13 THE WORLD BANK GREEN BOND IMPACT REPORT 2018 14 ELIGIBLE PROJECTS BY SECTOR Target Results and Committed and Allocated Amounts RENEWABLE ENERGY AND ENERGY EFFICIENCY CLEAN TRANSPORTATION WATER AND WASTEWATER SOLID WASTE MANAGEMENT AGRICULTURE, LAND USE, FORESTS, AND ECOLOGICAL RESOURCES RESILIENT INFRASTRUCTURE, BUILT ENVIRONMENT, AND OTHER Results should be read in conjunction with Annex 1, which describes the reporting approach. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 15 Target Results Annual GHG Project Name Annual Annual Renewable Emissions Link to More (Number | Year/s Loans Energy Energy Capacity # Avoided Other Results A/M Information Approved) Savings Produced Added US$ mil US$ mil Tons of Allocated and Description MWh MWh MW Committed IBRD share Project Life CO2 Eq. 1 Belarus - Biomass District Heating M 20 236,000 1,660,000 106 420,000 Cumulative over 5 years: 90.0 100% 46.2 (P146194 | FY14): increase ● 1,180,000 MWh energy efficiency in district heating energy savings from systems and replace natural gas efficiency investments. with wood biomass as a renewable ● 2,100,000 tons of CO2 eq. energy source. emissions reduced. 2 China - Beijing Rooftop Solar M 20 na 100,000 100 89,590 ● 10 to 15% of the schools’ 105.0 50% 24.9 Photovoltaic Scale- Up (Sunshine annual power use provided Schools) Project (P125022 | FY13): by renewable sources. promote renewable energy in 1000 ● 650,000 students in 1,000 schools and other educational schools benefit. institutions. 3 China - Eco-Farming Project M 20 na ~ ~ 900,000 ● 400,000 - 500,000 rural 119.8 27% 119.8 (P096556 | FY09): promote households benefit with sustainable farming systems and cleaner biogas-based reduce greenhouse gas emissions cooking and heating THE WORLD BANK GREEN BOND IMPACT REPORT 2018 (from methane and burning coal systems. and firewood) benefiting rural Updated for actual results at communities with biogas systems. project completion. 4 China - Energy Efficiency M 20 21,807,900 na na 6,490,000 ● 2,666,000 tons of coal eq. 300.0 45% 300.0 Financing (P084874 | FY08, FY12): (tce) annual energy savings promote energy conservation in (assuming 150 subprojects). China’s industrial sector supporting Updated for actual results at intermediary loans for energy project completion. efficiency projects in medium and large-sized manufacturing RENEWABLE ENERGY AND ENERGY EFFICIENCY companies. 5 China – Financing for Air Pollution M 20 3,125,000 2,460,000 ● 3,600 tons of particulate 567.0 100% 107.4 Control (P154669 | FY16): emissions (local air pollutant) reduce air pollutants and carbon reduced by EE and RE emissions through lending for subprojects financed. energy efficiency and clean energy, with a focus on the Jing-Jin-Ji and neighboring regions. 6 China - Energy Efficiency M 20 20,200,000 na na 4,930,000 Updated for actual results at 45.5 66% 45.5 Financing II Project (P113766 project completion. | FY10): promote energy conservation in China’s industrial sector through intermediary loans to energy efficiency projects. 7 China - Green Energy Schemes M 20 621,700 ~ ~ 165,000 100.0 41% 75.6 for Low-carbon City in Shanghai (P127035 | FY13): promote greener city development with energy efficiency and renewable energy installations in commercial and government buildings. 16 Target Results Annual GHG Project Name Annual Annual Renewable Emissions Link to More (Number | Year/s Loans Energy Energy Capacity # Avoided Other Results A/M Information Approved) Savings Produced Added US$ mil US$ mil Tons of Allocated and Description MWh MWh MW Committed IBRD share Project Life CO2 Eq. 8 China - Jiangxi Shihutang Both 20 na 472,000 120 450,000 ● 4,400 hectares of crop 100.0 31% 100.0 Navigation & Hydropower land protected from flooding. (P101988 | FY09): maximize ● RMB 26.6 million reduction inland waterway transport capacity in annual flood losses. as a low-carbon alternative to Updated for actual results at land transport and generate project completion. hydropower. 9 China - Liaoning Third Medium M 20 2,757,200 na na ~ ● 8,935 tons of sulphur 165.0 51% 165.0 Cities Infrastructure (P099224 dioxide avoided per annum. | FY08): improve the energy ● 11,659 tons of total efficiency and environmental suspended particles (local performance of heating and gas pollutant) avoided per services. annum. Updated for actual results at project completion. 10 China - Shandong Energy M 15 3,247,500 165,000 30 ~ ● 318,000 TCE energy 144.7 47% 116.6 THE WORLD BANK GREEN BOND IMPACT REPORT 2018 Efficiency (P114069 | FY11): savings. improve the energy efficiency and environmental performance of the industrial sector and finance renewable energy production from biomass (corn and wheat stalk). 11 China - Urumqi District Heating M 20 1,229,400 na na 415,500 ● 1,626 MW of inefficient 99.1 29% 99.1 Project (P120664 | FY11): promote coal-fired boilers replaced by energy efficiency in district heating combined heat and power by replacing dispersed boilers in district heating network. RENEWABLE ENERGY AND ENERGY EFFICIENCY urban areas with an integrated Updated for actual results at district heating network. project completion. 12 India - Grid-Connected Rooftop M 25 647,200 250 1,200,000 ● The 250 MW of capacity of 500.0 55% 43.0 Solar Program (P155007 | FY15): rooftop solar photovoltaics increase solar rooftop capacity to expected to be grid- the power grid and incentivize the connected by 5 yearsn with market for rooftop solar power by at least another 150 MW to way of low cost financing. be connected in subsequent years. ● 13 million tons CO2 eq. in cumulative savings over the project's 25 year life. ● Market development for rooftop photovoltaic systems in different business models. 17 Target Results Annual GHG Project Name Annual Annual Renewable Emissions Link to More (Number | Year/s Loans Energy Energy Capacity # Avoided Other Results A/M Information Approved) Savings Produced Added US$ mil US$ mil Tons of Allocated and Description MWh MWh MW Committed IBRD share Project Life CO2 Eq. 13 India - Power System Development M 20 8,699,000 na na ~ ● Reduced transmission 400.0 16% 400.0 ProjectIV (P101653 | FY09): losses equivalent to between expand transmission infrastructure 526-993MW. resulting in decreased CO2 ● 107,000 circuit km of emissions through efficiency gains increased capacity. and transferring surplus hydro ● 68,000 GWh power energy to power deficit regions. exchange growth between regions. Updated for actual results at project completion. 14 India - Rampur Hydropower Project M 30 na 1,770,000 412 1,407,700 Updated for actual results at 400.0 60% 400.0 (P095114 | FY08): scale-up access project completion. to renewable energy through construction of a run-of-the-river hydroelectric scheme. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 15 Indonesia - Indonesia Geothermal M 30 na 1,210,000 150 1,100,000 ● 33,000,000 tons of CO2 175.0 30% 129.0 Energy (P113078 | FY12): increase eq. cumulative emission power generation from renewable reductions of over 30 years. geothermal resources. 16 Jamaica - Energy Security and M N/A na ~ ~ ~ ● 623 MW of new electricity 14.5 100% 14.5 Efficiency Enhancement Project generating capacity (P112780 | FY11): increase including three wind farms, energy efficiency and security by two solar farms, and one promoting greater participation of hydro plant. RENEWABLE ENERGY AND ENERGY EFFICIENCY renewable energy and gas-based ● 600 GWh from renewable generation in the energy mix. resources annually. Updated for actual results at project completion. 17 Mexico - Efficient Lighting and M 5 2,000,000 na na 664,000 Cumulative over 5 years: 250.6 35% 250.6 Appliances Project (P106424 | ● Exchange 45.8 million FY11): promote the efficient use light bulbs and 1.9 million of energy and to mitigate climate refrigerators and air change by increasing the use of conditioners. energy efficient technologies in the ● 3.32 million tons of CO2 residential sector. eq. emissions reduced. ● 50-60% electricity saved in residential households. ● 10,000,000 MWh in cumulative energy savings. Updated for actual results at project completion. 18 Target Results Annual GHG Project Name Annual Annual Renewable Emissions Link to More (Number | Year/s Loans Energy Energy Capacity # Avoided Other Results A/M Information Approved) Savings Produced Added US$ mil US$ mil Tons of Allocated and Description MWh MWh MW Committed IBRD share Project Life CO2 Eq. 18 Mexico - Integrated Energy M 20 na 5,800 6 241,000 ● 4,400 rural households 12.0 18% 12.0 Services (P088996 | FY08): receive electricity from increase energy access for poor renewable sources. communities using renewable ● Larger long-term national energy (mainly solar and some impact with replication wind generators) and to develop throughout rural areas. a sustainable market for providing Update for actual results at energy services in remote rural project completion. areas. 19 Mexico – Municipal Energy M 8 127,590 5,800 6 57,926 ● 463,405 tons CO2 100.0 64% 0.3 Efficiency Project (P149872 | emissions reductions FY16): promote energy efficiency annually. in street lighting, water use and ● 1,020,714 MWh projected buildings in 23 municipalities. lifetime savings. ● 28 sub-projects designed. 20 Mexico - Sustainable Rural M 10 20,493 32,130 ~ 283,900 Cumulative over 7 years: 96.8 48% 77.9 THE WORLD BANK GREEN BOND IMPACT REPORT 2018 Development (and Add Financing) ● 143,450 MWh saved (P106261 | FY09, FY13): from energy efficiency increase the use of energy investments. efficient, waste management and ● 224,908 MWh produced renewable energy technologies in by renewable (biomass) agribusiness. energy. ● 1,987,500 tons of CO2 eq. emission avoided. 21 Moldova - District Heating M 30 96,700 na na 22,800 ● 34% reduction in heating 40.5 66% 22.1 Efficiency Improvement (P132443 system breakdowns by year RENEWABLE ENERGY AND ENERGY EFFICIENCY | FY15): improve quality and 5. reliability of heating services by ● 109,000 people with improving the operational efficiency access to more energy and viability of a new district efficient cooking and heating. heating company. 22 Montenegro - Energy Efficiency M 25 30,000 na na 12,200 Cumulative over 5 years and 13.7 100% 13.1 (and Additional Financing) targeting 27 buildings: (P107992 | FY09, FY14): ● 150,000 MWh in lifetime improve energy efficiency and energy savings. environmental quality in 27 ● 60,750 metric tons of buildings used for health and CO2 eq. lifetime emissions education services. reduced. Updated for actual results at project completion. 23 Morocco - Clean and Efficient M 25 na ~ 75 78,000 ● 412,000 people benefit 125.0 79% 34.2 Energy Project (P143689 | FY15): from electricity and develop the first utility sized associated economic photovoltaic plant to more reliably opportunities of which 50% supply solar power to remote are expected to be female. regions. 19 Target Results Annual GHG Project Name Annual Annual Renewable Emissions Link to More (Number | Year/s Loans Energy Energy Capacity # Avoided Other Results A/M Information Approved) Savings Produced Added US$ mil US$ mil Tons of Allocated and Description MWh MWh MW Committed IBRD share Project Life CO2 Eq. 24 Morocco – Noor Ouarzazate M 30 na 1,638,000 410 522,000 369.5 15% 57.2 Concentrated Solar Power (P131256 | FY12, FY15): replace fossil fuel- based electricity with renewable energy using concentrated solar power technology. 25 Peru - Second Rural Electrification M 20 na ~ ~ ~ ● 42,500 rural households 43.8 60% 43.8 (P117864 | FY11): provide electrified, of which electricity to remote communities 20,000 are served by by extending the conventional solar photovoltaic systems electricity grid and financing solar from regulated electricity photovoltaic systems. distribution companies. ● 174,000 people benefited. Updated for actual results at project completion. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 26 Tunisia - Energy Efficiency M 20 580,000 na na 126,000 Updated for actual results 34.5 91% 34.5 (P104266 | FY09): support at project completion. industrial energy efficiency and co-generation investments by providing financing through intermediaries. 27 Turkey - Private Sector Renewable M 20 3,023,800 3,728,000 933 3,214,000 ● Reach 31% of country’s 934.5 61% 934.5 Energy and Energy Efficiency total generation to be from Project (P112578 | FY09, FY12): renewable energy. enhance renewable energy Project completed and RENEWABLE ENERGY AND ENERGY EFFICIENCY access (small hydroelectric and actual results met expected geothermal) and energy efficiency targets. in industries (iron and steel, cement, ceramics, chemicals and textiles). 28 Turkey - Renewable Energy M 20 na na na 690,000 ● 1,734,000 MWh per year 268.2 63% 55.5 Integration (P144534 | FY14): of wind energy handled assist in meeting increased power by the substations funded demand by strengthening the under project. transmission system and facilitating large-scale renewable energy generation. 29 Turkey - SME Energy Efficiency M 20 1,500,000 na na 44,000 Cumulative over 5 years: 67.0 22% 67.0 (P122178 | FY13): improve ● 154,500 tons of CO2 eq. energy efficiency in small and emissions reduced for all medium enterprises in energy- SME loans. intensive industries by scaling- ● 300,000 MWh in up commercial bank lending for electricity savings energy efficiency investments. by the end of project implementation. 20 Target Results Annual GHG Project Name Annual Annual Renewable Emissions Link to More (Number | Year/s Loans Energy Energy Capacity # Avoided Other Results A/M Information Approved) Savings Produced Added US$ mil US$ mil Tons of Allocated and Description MWh MWh MW Committed IBRD share Project Life CO2 Eq. 30 Ukraine - District Heating Energy M 20 524,000 na na 261,800 ● 721,400 consumers 222.1 84% 11.5 Efficiency (P132741 | FY14): served by the participating improve energy efficiency and companies. quality of service of District Heating companies. 31 Ukraine - Energy Efficiency M 15 7,721,157 na na 1,000,000 ● Create jobs directly and 200.0 100% 200.0 (P096586 | FY11): improve indirectly through increased energy efficiency in order to meet cost competitiveness as energy intensity reduction targets, a result of lower energy decrease dependence on imported intensity. gas, and decrease the cost of Project completed and energy supply. actual results met expected targets. 32 Uzbekistan - Advanced Electricity M na na na na ~ ● 1.2 million advanced 1.2 73% 1.2 Metering Project (P122773 | meters installed. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 FY12): improve energy efficiency ● Improve billing and by measuring energy consumption collection rates by 8% and and waste through advanced 10%, respectively. metering and billing systems. Subtotal for Renewable Energy and Energy Efficienc 6,105.0 4,002.1 Cumulative Loan Repayments (283.3) Total Allocated and Outstanding for Renewable Energy and Energy Efficiency 3,718.8 RENEWABLE ENERGY AND ENERGY EFFICIENCY 21 Target Results Project Name GHG Link to More (Number | Year/s Loans Pass/km and/or Ton/Km and/or emissions # Other results A/M /a Information Approved) passengers tons reduced/ US$ mil US$ mil Allocated and Description avoided Committed IBRD share Project Life 33 Brazil - Greening Rio de Janeiro M 30 ● 700,000 ● 34,000 ● 100 new trains 600.0 73% 392.1 Urban Rail Transit – Additional passengers per tons of CO2 delivered and in operation Financing (P111996 | FY12): day (40% increase eq. reduced ● Upgraded infrastructure provide a more efficient and since 2009) annually ● Shorter travel and cleaner suburban rail system. waiting times. ● Bicycle parking facilities in select stations. 34 Brazil - Sao Paulo State Both 30 ● 50% reduction ● 30% increase ● 750 km of roads 300.0 70% 200.5 Sustainable Transport (P127723 of road fatalities of exported rehabilitated. | FY13): improve transport in the 100 most biofuel ● 40 new automati efficiency and safety, increase critical spots. transported by stations to monitor climate share of waterway transport, waterway risk. and improve resilience to ● 6 million ● 39 additional CLEAN TRANSPORTATION climate change and natural tons/year municipalities with disasters. freight in the disaster risk mapping. Tiete-Parana THE WORLD BANK GREEN BOND IMPACT REPORT 2018 waterway (400% increase) 35 China - Changzhi Urban M 25 ● 10% reduction in 100.0 50% 66.0 Transport (P124978 | FY12): fuel consumption per improve transport mobility and passenger-km on project accessibility while reducing corridors. emissions. ● 56% reduction in traffic fatalities. ● Reduced travel times during peakhours. ● 50 new electric buses in use. 36 China - HaJia Railway (P117341 M 30 ● 3 million ● 7 million ● Reduced passenger 300.0 5% 54.3 | FY14): provide additional additional additional and freight travel time. railway capacity and reduce passengers per freight volume ● 15 million people benefit transport time for passengers year. per year. including rural poor. and freight. ● Reduced pollution from shift to electric railways from road and air transport. 37 China - Heilongjiang Cold M 25 ● 38.8 million more ● 20-30% reduction in 200.0 46% 23.5 Weather Smart Public bus rides annually fuel use. Transportation System due to increased ● 22-25 km of improved (P133114 | FY14): upgrade the efficiency of bus transport corridors quality, safety and efficiency of service. developed. public transport service. ● 320 new cleaner-fuel vehicles procured. 22 Target Results Project Name GHG Link to More (Number | Year/s Loans Pass/km and/or Ton/Km and/or emissions # Other results A/M /a Information Approved) passengers tons reduced/ US$ mil US$ mil Allocated and Description avoided Committed IBRD share Project Life 38 China - Hubei Xiangyang M 25 ● 460,000 ● 40 new and higher 100.0 47% 65.9 Urban Transport (P119071 beneficiaries of quality buses in operation | FY12): improve mobility, reduced travel ● 30% reduction in safety, and efficiency in urban times and greater fatalities and severe transportation. access to the city accidents. center. 39 China - Jiaozuo Green M 30 ● 241,500 non- ● 490,000 beneficiaries. 100.0 50% 20.2 Transport and Safety motorized trips per ● Reduced traffic Improvement (P132277 | FY14): year in the green fatalities. improve transport safety and corridor. ● 17 km in green corridors efficiency along the selected ● 32,400 additional exclusively dedicated to transport corridors and promote bus passengers pedestrians and cyclists. non-motorized trips within the per year. CLEAN TRANSPORTATION pilot green corridor. 40 China - Nanchang Urban Rail M 30 ● 200,000 ● Reduced travel time 250.0 10% 117.0 THE WORLD BANK GREEN BOND IMPACT REPORT 2018 (P132154 | FY13): provide passenger-trips on public transport by 25 an effective urban mass rapid per day. minutes or more. transit system for a rapidly ● 100% of stations to expanding city to reduce become wheel-chair and pollution, traffic congestion, and sight impaired accessible. commuting times. ● 90% integration of facilities for bus/rail/bike transfer 41 China - Qinghai Xining Urban M 30 ● 264,000 ● 20% decrease in travel 120.0 48% 5.1 Transport Project (P127867 | additional time. FY14): provide more efficient, passengers per ● Improved accessibility safer and cleaner transportation. day. to 189,400 jobs. ● Reduced vehicle pollution. 42 China - Tianjin Urban Transport M 20 ● 85,000 new ● 6,500 tons of ● 2.8 million trips benefit 100.0 45% 11.1 Improvement Project (P148129 metro users per CO2 emissions from improvements each | FY16): leverage the existing day. reduced day. metro system and promote ● 135,000 new annually. ● 50 km of roads walking and biking in the urban non-motorized trips rehabilitated, 111 metro core to make transport greener per day." stations improved and and safer. 5 new bus terminals completed. 43 China - Urumqi Urban Transport M 30 ● 645,000 people ● 51.7 km of BRT routes 140.0 26% 25.5 Project II (P148527 | FY16): benefit from direct operated. improve mobility in selected access to BRT ● 45% of commuters transport corridors and reduce corridors and using smart cards. pollution from cars with a bus greener/more ● 450% increase in rapid transit (BRT) system. efficient transport. average passenger boardings per bus/km during peak hours 23 Target Results Project Name GHG Link to More (Number | Year/s Loans Pass/km and/or Ton/Km and/or emissions # Other results A/M /a Information Approved) passengers tons reduced/ US$ mil US$ mil Allocated and Description avoided Committed IBRD share Project Life 44 China - Wuhan Second Urban M 20 ● 459,000 ● Establish facilities for 100.0 16% 99.0 Transport (P112838 | FY10): tons of CO2 pedestrians and cyclists. improve efficiency, coverage eq. emissions ● 35% modal share of and safety of public transport reduced public transportation on systems in an environmentally annually. target corridors. sustainable, integrated and safe way. 45 China - Xi'an Sustainable Urban M 25 ● 52,000 public ● Doubled area of bus 150.0 36% 150.0 Transport (P092631 | FY08): bicycles with 70 terminals. improve transport accessibility million users. ● 275% increase in and mobility and enhance air- average speed of public quality monitoring of the urban transportation from 12 to CLEAN TRANSPORTATION transport system 45 km/ hr. ● Air quality monitoring system/facility implemented. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 ● 31,000 vehicles with emissions tested. Updated for actual results at project completion. 46 China - Xinjiang Yining Urban M 30 ● 105.5 million ● Reduced peak-hour 100.0 48% 94.0 Transport Improvement passenger-trip travel times in two Project (P126454 | FY12): per year (40% integrated corridors. provide improved access, increase). ● Reduced traffic accident safety, and efficiency in ● 60,000 additional fatalities. public transportation in an people with access Updated for actual results environmentally sustainable to quality urban at project completion. manner. trasnport services. 47 China - Yunnan Honghe M 25 ● 742,000 people ● Reduced average travel 150.0 43% 9.0 Prefecture Diannan Center gaining access to time for public transport Urban Transport (P101525 urban transport users. | FY14): improve the safety, service. ● Reduced the number of accessibility, and efficiency ● 38 million transport related fatalities. of transportation in core additional urban areas by building new passenger trips infrastructure, staff training and annually. education campaigns. 48 Colombia - National Urban M 15 ● 10% ● Reduced average 493.9 25% 383.8 Transit Program (P117947 | reduction travel time for low income FY10, FY12): reduce carbon of PM10 riders. emissions and improve public concentration ● Reduced accidents transportation efficiency and level. and pollution (including safety. greenhouse gases) associated with bus transport services. ● 50 km of rehabilitated pedestrian public space. 24 Target Results Project Name GHG Link to More (Number | Year/s Loans Pass/km and/or Ton/Km and/or emissions # Other results A/M /a Information Approved) passengers tons reduced/ US$ mil US$ mil Allocated and Description avoided Committed IBRD share Project Life 49 Ecuador - Manta Public M 30 ● 505 average ● 71,000 residents benefit 100.0 87% 32.2 Services Improvement Project daily cyclist traffic from water connection (P143996 | FY14): improve (20% increase). investments. transport services and the ● 3,150 average ● Improved mobility quality and sustainability of daily pedestrian and accessibility of water and sanitation. traffic (25% street network including increase). pedestrian facilities and cycling paths. 50 Ecuador - Quito Metro Line M 30 ● 296,000 ● 58,170 tons of ● US$14 million in annual 205.0 12% 146.9 One (P144489 | FY15): improve passengers per CO2 emissions fuel savings. urban mobility and serve the day. reduced per ● 40% reduction in growing demand for public year. average travel time. transport. ● 1,800 jobs created. CLEAN TRANSPORTATION 51 India - Eastern Dedicated M 22 ● 22 tons of ● 400,000 ● 1,133 kms of new 910.0 67% 123.0 Freight Corridor - II (P131765 freight traffic tons of CO2 freight-only rail. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 | FY14): increase the capacity annually. eq. reduced ● Axle-load limit raised and quality of freight rail service. annually. from 23 to 25 tons increasing speeds. 52 India - Sustainable Urban M 30 ● 128,000 ● 68 new safe sidewalks 105.2 32% 81.8 Transport (P110371 | FY10): tons of CO2 and cycle tracks. improve government capacity to eq. emissions ● 40% public transport manage climate friendly urban reduced trip mode share. transport solutions focusing annually over on public and non-motorized 10 years. transport. 53 Mexico - Urban Transport M 13 ● 340,000 ● 9.3 integrated mass 150.0 6% 52.0 Transformation (P107159 tons of CO2 transit corridors of 15km | FY10): reduce carbon eq. emissions each. emissions and transform public reduced ● 12 new light trains. transportation efficiency. annually when city subprojects are fully operational. 54 Peru – Lima Metro Line 2 M 17 ● 360,000 ● 34% reduction in travel 300.0 5% 40.0 Project (P145610 | FY15): passengers per time per trip. Construction of a 35 km subway day. ● Benefits 1.6 million line and related infrastructure ● 100,000 people for improved improving transportation in the additional jobs access to jobs. east-west axis of the Lima- reachable by public Callao Metropolitan area. transportation within 60 minutes. 25 Target Results Project Name GHG Link to More (Number | Year/s Loans Pass/km and/or Ton/Km and/or emissions # Other results A/M /a Information Approved) passengers tons reduced/ US$ mil US$ mil Allocated and Description avoided Committed IBRD share Project Life 55 Philippines - Cebu Bus Rapid M 25 ● 275,000 ● 50% ● 25% reduction of 116.0 51% 12.3 Transit (BRT) Project (P119343 additional reduction in annual accidents in city. | FY15): improve the quality, passengers CO2 emissions safety, and environmental using public per person- performance of urban public transportation. km in project transportation. corridor. Subtotal for Transport 5,190.1 2,205.1 Cumulative Loan Repayments (53.2) Total Allocated and Outstanding for Transport 2,151.9 Amounts may not add up due to rounding. CLEAN TRANSPORTATION THE WORLD BANK GREEN BOND IMPACT REPORT 2018 26 Target Results Annual Annual Annual Project Name amount of amount of amount Link to More (Number | Year/s Loans Annual water wastewater raw/untreated of # Other results A/M /a Information Approved) savings treated/ sewage sludge US$ mil US$ mil Allocated and Description reused/ sludge treated that is Committed IBRD share Project Life avoided & disposed of reused 56 Brazil - Federal Integrated A 30 ~ ~ ~ ~ ● 14 water resources 63.8 75% 16.3 Water Sector (P112073 management institutions | FY12): improve water supported by the project. resource management ● Increased water use including assessing how efficiency and proper climate change impacts management of solid waste. water availability, and ● Improved quality of water improve coordination and service in both urban and capacity of key federal rural areas. institutions in the water sector. 57 Brazil - Espirito Santo Both 25 ~ ~ ● 1,590 ~ ● 2.6 million people benefit. 81.1 70% 2.4 Integrated Sustainable tons of BOD ● 70% of State with disaster WATER AND WASTEWATER Water Management (Biochemical warning system. Project (P130682 | FY14): Oxygen ● 32,897 new household THE WORLD BANK GREEN BOND IMPACT REPORT 2018 improve sustainable water Demand) sewer connections. resources management removed a ● 164,000 people with and increase access to year. improved sanitation. sanitation. ● 2,000 hectares reforested. 58 China - Bengbu A 25 ~ ● 60 km of ~ ~ ● 85.5% flood protection 99.9 45% 99.9 Integrated Environment wastewater of Bengbu’s city land Improvement (P096925 networks area (131.84 km of storm | FY08): improve completed. drainage networks). effectiveness and ● Pollution reduction resilience of urban water reached 13% supply, treatment services ● 3 months of water supply and flood prevention and reserves. control systems through Updated for actual results at improved infrastructure project completion. and watershed management. 59 China - Water A 30 ● 22.67 million na na na ● 15% increase in main 76.7 50% 76.7 Conservation II cubic meters crop yields. (P114138 | FY12): reduction in ● RMB 200 increase in per improve agriculture water withdrawal. capita annual agricultural water management and ● 16.52 million income. increase agriculture water cubic meters ● Reverse the trend of productivity. reduction in declining water table in groundwater groundwater irrigated areas. overdraft. Updated for actual results at ● 5.80 million project completion. cubic meters reduction in groundwater withdrawal. 27 Target Results Annual Annual Annual Project Name amount of amount of amount Link to More (Number | Year/s Loans Annual water wastewater raw/untreated of # Other results A/M /a Information Approved) savings treated/ sewage sludge US$ mil US$ mil Allocated and Description reused/ sludge treated that is Committed IBRD share Project Life avoided & disposed of reused 60 China - Xining Flood A 30 ~ ● 4,800,000 na na ● 1,100,000 tons of soil loss 100.0 53% 100.0 and Watershed Mgmt tons of avoided annually. (P101829 | FY09): untreated ● 434,440 people benefit improve sustainable wastewater from reduced vulnerability to utilization of land flowing into flood events. and water resources rivers avoided Updated for actual results at by improved flood annually. project completion. control management, wastewater collection and treatment, and watershed management. 61 Dominican Republic - A 30 ~ ~ na na ● 37,218 hectares of 99.9 100% 99.9 Emergency Recovery damaged irrigation rebuilt. WATER AND WASTEWATER and Disaster Risk ● 152 km transmission Management (P109932 lines restored to “disaster- THE WORLD BANK GREEN BOND IMPACT REPORT 2018 | FY08, FY12): provide resistant” standards. infrastructure recovery ● Santiago waste water and strengthen risk operation restored. management capacity in ● 252 MW of damaged tropical storm affected hydropower facilities areas. restored and dam safety standards improved. Updated for actual results at project completion. 62 India - Andhra A 30 ~ ~ ~ ~ ● Improved irrigation service 450.6 46% 353.2 Pradesh Water Sector delivery on a sustainable Improvement (P100954 | basis. FY10): improve irrigation ● Increased cropping services on a sustainable intensity, crop diversity, basis and strengthen and productivity of crops, the State’s institutional livestock, and fish. capacity for multisectoral ● 895,455 hectares development and of its provided with new irrigation water resources. or drainage services. 63 Indonesia - Water A 25 na na na na ● Increased crop 150.0 74% 124.7 Resources and Irrigation productivity by providing Management Program more efficient and reliable 2 (P114348 | FY11): irrigation water. improve infrastructure ● 500,000 farmer and government capacity households from provinces for river basin water involving 12 river basins resource and irrigation benefited. management. ● 381,000 hectares provided with new irrigation or drainage services. Project completed. 28 Target Results Annual Annual Annual Project Name amount of amount of amount Link to More (Number | Year/s Loans Annual water wastewater raw/untreated of # Other results A/M /a Information Approved) savings treated/ sewage sludge US$ mil US$ mil Allocated and Description reused/ sludge treated that is Committed IBRD share Project Life avoided & disposed of reused 64 Lebanon - Lake Qaraoun A 14 ~ ● 30,000 ● 1,250 cubic ~ ● 50% reduction in 55.0 92% 2.2 Pollution Prevention cubic meters meters of trash pollutant load (nitrogen) to (P147854 | FY16): reduce of municipal removed from waterways. the quantity of untreated wastewater river banks. ● 344,000 of direct municipal sewage collected and beneficiaries. discharged into the treated daily. ● 7,300 new household Litani River and address sewer connections. pollution around Qaraoun Lake. 65 Tunisia - Second Water A 30 ~ ~ na na ● 24,436 hectares 17.0 30% 17.0 Sector Investment rehabilitated with irrigation (P095847 | FY09): and drainage systems. promote better water ● 21,128 households WATER AND WASTEWATER management through supplied with new drinking efficiency improvements water. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 in irrigation and increased Updated for actual results at capacity for watershed project completion. management. 66 Vietnam – Can Tho Urban A 29 na na na na ● 2,675 hectares in urban 125.0 39% 5.3 Development and core land area protected Resilience (P152851 | from floods. FY16): reduce flood risk ● 25-30% reduction in travel in the urban core area, time between urban core improve its connectivity and Cai Rang center. to new urban growth ● 420,000 people as direct areas, and improve the beneficiaries. city’s capacity to manage disaster risk. Subtotal for Water, Wastewater, and Waste Management 1,319.1 897.6 Cumulative Loan Repayments (64.8) Total Allocated and Outstanding for Water, Wastewater, and Waste Management 832.8 Amounts may not add up due to rounding. 29 Target Results Project Name Waste prevented, Link for More (Number | Year/s Loans Annual GHG # minimized, reused or Other results A/M Information Approved) emissions reduced US$ mil US$ mil recycled Allocated and Description Committed IBRD share Project Life 67 Brazil - Integrated Solid Waste M 19 ● 9,000 tons per day ● 50 million tons of ● 3 dumps closed. 16.7 14% 16.7 & Carbon Finance (P106702 | of waste disposed methane regenerated ● 7 municipalities made FY11): improve treatment and in environmentally annually. investments to improve final disposal of municipal solid sustainable sanitary recycling and composting waste and reduce methane landfills. activities. emissions. Updated for actual results at project completion. 68 Morocco - Solid Waste Sector M 26 na na ● 24,436 hectares 117.1 100% 117.1 DPL (P104937 | FY09): rehabilitated with enhance the governance of the irrigation and drainage solid waste sector. systems. ● 21,128 households supplied with new drinking water. SOLID WASTE MANAGEMENT Updated for actual THE WORLD BANK GREEN BOND IMPACT REPORT 2018 results at project completion. Subtotal for Solid Waste Management 5,190.1 2,205.1 Cumulative Loan Repayments (53.2) Total Allocated and Outstanding for Solid Waste Management 2,151.9 Amounts may not add up due to rounding. 30 AGRICULTURE, LAND USE, FORESTS, AND ECOLOGICAL RESOURCES Target Results Project Life IBRD share Committed Allocated Project Name US$ mil US$ mil Link for More A/M # (Number | Year/s Loans Approved) Results Information and Description 69 Armenia - Second Community A 25 ● At least 10,000 pasture users 23.0 54% 5.0 Agriculture Resource Management benefit through their membership in and Competitiveness Project Pasture Users’ Cooperatives. (P133705 | FY14): improve pasture- ● 110,000 hectares of land managed based livestock management in with sustainable practices. targeted alpine grasslands areas. 70 China - Guangdong Agricultural M 25 ● 45,000 tons of annual pollution 100.0 48% 44.5 Pollution Control (P127775 | FY14): load to waterways reduced. promote waste management in ● 5,000 tons of annual nutrient load livestock and crop production to waterways reduced. (including methane capture and use) ● 28,000 hectares with improved soil and improve soil nutrient, fertilizer, nutrient, fertilizer and pesticide use. and pesticide use. 71 China - Hebei Rural Renewable M 25 By 2020: 71.5 47% 7.6 Energy Development Project ● 42,000,000 m3 of biogas used (P132873 | FY15): demonstrate annually. sustainable biogas production and ● 58,780 tons of CO2 emissions utilization to reduce environmental reduced annually. pollution and supply clean energy. ● 96,100 rural resident households with access to biogas supply. ● Additional biogas used as fuel for public transportation. 72 China - Hunan Forest Restoration Both 26 ● 58,900 hectares of ecological 80.0 69% 80.0 and Development (P125021 | FY13): forest plantation areas reforested and increase resilience of forests. rehabilitated. ● 26,130 households benefited. 73 China - Integrated Forestry Both 25 ● 132,600 hectares of forests 99.1 50% 99.1 Development (P105872 | FY11): restored or re/afforested. increase forest cover to create wind ● 20% increase in vegetative cover breaks, farmland shelter belts, and plus improved species diversity in conservation schemes, and to train degraded forests rehabilitated. farmers in forest and environmental ● 324,000 farmers trained in forest management. management. Updated for actual results at project completion. 74 China - Integrated Modern A 25 ● Reduced water use per ton of rice, 200.0 64% 129.4 Agriculture Development (P125496 wheat and maize produced in target | FY14): develop sustainable regions. and climate resilient agricultural ● 94,000 hectares of farmland served production systems by investing in with improved irrigation and drainage improved irrigation and drainage services. systems and practices that address ● 38,500 hectares of leveled land climate risk. and improved soil conditions. 75 China - Ningxia Desertification Both 30 ● 30,000 hectares restored or re/ 80.0 70% 35.3 Control and Ecological Protection afforested. (P121289 | FY12): control desertification and land degradation by stabilizing moving sands, re- vegetating degraded steppe lands and planting shelter belts. 76 Indonesia - Coral Reef Rehabilitation A 20 ● Reduce destructive fishing in 3.8 89% 1.3 and Management Program- Coral selected areas. Triangle Initiative (P127813 | FY14): ● 1,140 direct beneficiaries in fishing protect and sustainably manage communities. unique coral ecosystems in selected ● 1.4 million hectares of marine districts and provinces. areas brought under biodiversity protection. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 31 AGRICULTURE, LAND USE, FORESTS, AND ECOLOGICAL RESOURCES Target Results Project Life IBRD share Committed Allocated Project Name US$ mil US$ mil Link to More A/M # (Number | Year/s Loans Approved) Results Information and Description 77 Mexico - Forests and Climate Both 13 ● 10% increase in areas under 350.0 45% 286.4 Change (P123760 | FY12): support improved forest management rural communities' sustainable (equivalent to 1,630,000 additional management of forests, and hectares). generate additional income from ● Support 2 pilot areas to reduce forest products and services and to carbon emissions from deforestation reduce emissions from deforestation and forest degradation. and forest degradation. ● 4,000 forest communities benefited. (3,202 by end of 2016 – value is yearly results) 78 Morocco - Large Scale Irrigation A 25 ● 9,274 farmers benefit. 150.0 80% 5.9 Modernization (P150930 | FY16): ● 100% of area with access to water expand agriculture through the on demand in peak period. adoption of irrigation techniques that ● 20,700 hectares with improved make more efficient use of water irrigation technologies. resources, while building better ties between farmers and markets. 79 Peru - Peru National Agriculture A 10 ● 20,000 small and medium farmers 13.0 31% 2.6 Innovation Program (P131013 | adopting new technologies. FY14): strengthen the national ● 61 new technologies demonstrated agricultural innovation system and on farms. integrate climate change criteria into project such as adaptive research, seed improvements and skills development, among others. 80 Philippines - Rural Development A 30 ● Increase incomes of about 1.9 501.3 75% 148.2 (P132317 | FY15): improve the million farmers and fishermen and resilience of small-scale farmers the value of their products. and fishermen to climate change by helping them recover and increase income-generating activities and strengthening the conservation of coastal and marine resources. 81 Russian Federation - Forest Fire Both 18 ● Improve forest fire detection and 40.0 33% 16.2 Response (P123923 | FY13): suppression systems. improve forest fire prevention and ● Improve capabilities of fire management and to enhance brigades. sustainable forest management. ● Avoid 75,500,000 tons of CO2 eq. emissions over 25 years. ● Raise public awareness and education standards in forestry issues in general. 82 Tunisia - Fourth Northwest A 21 ● Reduce erosion and forest 33.5 73% 32.4 Mountainous and Forested Areas degradation. Development (P119140 | FY11): ● Build climate change awareness better protect and manage natural and disseminate climate-appropriate resources through conservation practices to reinforce livelihood and of soil and water resulting from agro-system resilience. improved agriculture and pasture ● 318,000 people benefit practices and to improve access to potable water for rural communities. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 32 AGRICULTURE, LAND USE, FORESTS, AND ECOLOGICAL RESOURCES Target Results Project Life IBRD share Committed Allocated Project Name US$ mil US$ mil Link to More A/M # (Number | Year/s Loans Approved) Results Information and Description 83 Uruguay - Sustainable Management Both 21 ● 2,700 (actual has been higher at 49.0 89% 42.6 of Natural Resources and Climate 3,029) hectares of agricultural land Change (P124181 | FY12): improve with reduced methane emissions. farm environmental management ● Improve water use in irrigation and and reduce greenhouse gas livestock production systems. emissions by promoting improved ● Improve pasture management and agriculture and livestock other productivity measures. management. Subtotal for Agriculture, Land Use, Forests, and Ecological Resources 1,794.1 936.5 Cumulative Loan Repayments (4.1) Total Allocated and Outstanding for Agriculture, Land Use, Forests, and Ecological Resources 932.4 Amounts may not add up due to rounding. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 33 RESILIENT INFRASTRUCTURE, BUILT ENVIRONMENT, AND OTHER Target Results Committed Project Name Allocated US$ mil US$ mil Project share (Number | Year/s Loans IBRD A/M Life # Results Approved) and Description 84 Belize - Climate Resilient A 25 ● 30 km of roads rehabilitated and 12 30.0 100% 1.6 Infrastructure (P127338 | FY15): bridges and culverts improved. enhance the resilience of road ● 50% reduction in road interruption due infrastructure against flood risks to flooding. and the impacts of climate change. ● 170,000 people living near the road networks directly benefit. 85 China - Fujian Fishing Ports Project A 27 ● 11,000 fishermen and their families 60.0 58% 4.2 (P129791 | FY14): reduce the (total 64,000 people) benefit. vulnerability of fishing communities ● 3,000 fishing vessels protected in ports. to extreme weather events. ● Improved effectiveness of early warning and emergency systems. 86 China - Huai River Basin Flood A 25 ● 9,500 km2 of flood protection (in rural 200.0 33% 200.0 Management and Drainage and urban areas). Improvement (P098078 | FY11): ● 6,600,000 people benefited. increase resilience of communities Updated for actual results at project to the impacts of climate change, completion. particularly flooding. 87 Jamaica - Disaster Vulnerability A 29 ● Protection of infrastructure (e.g., 30.0 100% 1.2 Reduction (P146965 | FY16): bridges, storm drains, roads) from floods enhance the country’s resilience to directly benefitting about 247,000 people. disaster and climate risk. ● Increase the government’s capacity to better prepare for and respond to natural disasters. 88 Macedonia & Serbia - South East A 22 ● Increased catastrophe insurance 10.0 100% 10.0 Europe and Caucasus Catastrophe coverage from 2% to 15% for Risk Insurance Facility (P110910 homeowners, farmers, enterprises, and | FY11): increase access to government entities holding catastrophe catastrophe risk insurance through insurance policies. facilitating the growth of insurance Updated for actual results at project markets. completion. 89 Mexico - Climate Change Both 10 Climate-informed public policies, 501.3 100% 501.3 Development Policy Loan including: (P110849 | FY08): mainstream ● 642,000 hectares reforested. climate change considerations into ● 6,000,000 tons of CO2 eq. emissions public policy. reduced annually due to reforestation. ● Domestic carbon pricing strategy developed. ● City and state climate action plans developed. Updated for actual results at project completion. 90 Russian Federation - A 18 ● >70% accuracy of forecasts for the 60.0 43% 16.1 Hydrometeorological Services main administrative centers of Russia. Modernization (P127676 | FY14): ● > 85-90% accuracy of seasonal enhance capacity to deliver reliable river flow forecasts in Volga river basin and timely weather, hydrological reservoirs. and climate information. ● Increased number of sectoral data users data. 91 Timor-Leste - Road Climate A 28 ● Improved drainage conditions along 15.0 16% 0.0 Resilience Project (P125032 | 110 km road corridor. FY14): rehabilitate and improve ● 30% reduction in major road damage the climate resilience of a road events. corridor. Subtotal for Resilient Infrastructure, Built Environment, and Other 906.3 734.3 Cumulative Loan Repayments (0.3) Total Allocated and Outstanding for Resilient Infrastructure, Built Environment, and Other 734.0 Amounts may not add up due to rounding. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 34 Key Assumptions and • Reporting for co-financed projects: The World Bank often co-finances projects with the client Approach country and/or other lenders. The results for the individual project are based on the total project The following key assumptions and approach were including all financiers. The World Bank’s share used in preparing this report. of the total financing is included for each project. • Ex-ante projections: Quantitative estimates • Partial project eligibility: In cases where a for target results represent ex-ante projections project is only partially Green Bond eligible, the developed during project design mostly for committed amount reported reflects only that direct project impacts once projects are portion that is Green Bond eligible. Allocations at normal operating capacity. The target to support disbursements to such projects are results include expected results for projects made on a pro rata basis. still in the preparation, construction and/or implementation phase. The impact report thus • No aggregation of GHG estimates: serves as an illustration of expected results made When reported in the “Project Appraisal”, possible through Green Bond eligible projects, but “Implementation Status and Results”, and/ it is not intended to and does not provide actual or “Implementation Completion and Results” results achieved in a specific year or reporting reports, the GHG emission reductions for period. Target results have been updated with projects are reported in tons of CO2 equivalent. actual results at project completion when the The World Bank is undertaking an effort in final project commitment is materially different conjunction with other International Finance to the original authorized amount. Where the Institutions to harmonize the approaches for amounts are based on actual results this is GHG accounting.2 At the same time, the World noted in the preceding tables. Bank is working to develop internally consistent GHG accounting methodologies for investment • Length of time projects are on report: Impact projects across relevant sectors. Given these reporting will be provided for projects for so long on-going developments in GHG accounting, the as they are part of the World Bank Green Bond basis for estimating CO2 equivalent emission program. This means that projects are added reductions may vary between World Bank to the impact report once Green Bond proceeds projects. Therefore, the World Bank does not have been allocated to support the financing of recommend aggregating the results of different disbursements to the project, and removed once projects in its Green Bond portfolio. the client has repaid the respective loan. Projects may also be removed from future reports if the • All reported results are from publicly available World Bank decides to remove a project from sources: Reporting is based on publicly available its Green Bond program.1 If a project is removed impacts for the projects disclosed in “Project from the Green Bond program, any Green Bond Appraisal”, “Implementation Status and Results”, proceeds previously allocated to support the and “Implementation Completion and Results” financing of disbursements to that project will reports. To facilitate comparability of the be credited back to the Special Account for reported results, the reporting units have been Green Bond proceeds and allocated to support converted where such conversion is based on a the financing of disbursements to other Green standard conversion factor. Bond eligible projects as part of the routine allocation process. 1 As part of the World Bank’s due diligence in 2 For more information on the harmoniza- monitoring projects included in its Green Bond program, it may tion framework, see http://pubdocs.worldbank.org/ elect to remove a project. Possible reasons for removing a en/540921538149778203/2017-joint-report-on-mdbs-climate- project from a Green Bond program include, but are not limited finance.pdf. to, cancellation of the project or significant implementation delays. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 37 ANNEX 2: WORLD BANK PROJECT CYCLE The World Bank project cycle (see diagram 1) consists of six stages: Identification, Preparation, Appraisal, Negotiation/Approval, Implementation/Support, and Completion/Evaluation (see below for the detailed descriptions). Projects that are reviewed for eligibility under the World Bank Green Bond program are selected from among all projects approved by the World Bank Board of Directors (see diagram 2). They therefore represent a subset of the World Bank’s lending portfolio. As of June 30, 2018, there were 91 projects in the Green Bond program. 1 Project Identification The World Bank works with a borrowing country’s government on a Country Partnership Framework that identifies the country’s priorities for reducing poverty and improving living standards. Within those priorities, the World Bank and the government agree on a project concept, which is outlined in a Project Concept Note. The Project Information Document outlines the project’s scope, and the Integrated Safeguards Data Sheet identifies potential environmental and social issues. 2 Project Preparation The borrower leads project preparation, with the World Bank generally taking an advisory role. If necessary, the borrower prepares an Environmental Assessment Report that describes the project’s likely environmental impact and steps to mitigate possible harm. If there are major issues, the borrower prepares an Environmental Action Plan. An analysis of a project’s potentially adverse effects on indigenous peoples may also be undertaken, and any issues are addressed in the Indigenous Peoples Plan. 3 Project Appraisal The government and the World Bank review the identification and preparation documents and confirm the expected project outcomes, intended beneficiaries and evaluation tools, as well as the project’s readiness for implementation. The Project Information Document is updated and released when the project is approved for funding. 4 Project Approval The project team prepares the Project Appraisal Document (for investment project financing) or the Program Document (for development policy financing), along with other financial and legal documents, for submission to the World Bank’s Board of Executive Directors for approval. When approval is obtained and the legal documents are signed, the implementation phase begins. 5 Project Implementation The borrower implements the project with technical assistance and support from the World Bank as needed. Twice a year, the government and the World Bank prepare a review of project progress, the Implementation Status and Results Report. 6 Project Completion and Evaluation When a project is completed and closed, a World Bank operations team prepares an Implementation Completion and Results Report. The final outcomes are compared to expected results. The team also assesses how well the project complied with the Bank’s operations policies, and accounts for the use of Bank resources. The World Bank’s Independent Evaluation Group (IEG) assesses the performance of roughly one project out of four projects a year, measuring outcomes against the original objectives, sustainability of results and institutional development impact. IEG may produce Impact Evaluation Reports to assess the economic worth of projects and the long-term effects on people and the environment. THE WORLD BANK GREEN BOND IMPACT REPORT 2018 38