Public Disclosure Copy The World Bank Implementation Status & Results Report Romania Strengthening Financail Accountability (P152568) Romania Strengthening Financail Accountability (P152568) EUROPE AND CENTRAL ASIA | Romania | Governance Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2015 | Seq No: 1 | ARCHIVED on 29-Apr-2016 | ISR23385 | Implementing Agencies: Key Dates Key Project Dates Bank Approval Date:04-Nov-2014 Effectiveness Date:16-Nov-2015 Original Closing Date:30-Nov-2016 Revised Closing Date:30-Nov-2016 Project Development Objectives Project Development Objective (from Project Appraisal Document) The overarching objective of this activity is to provide direct support for the implementation of the measures under the first FEG-DPL to strengthen the fiscal management by improving the quality of public spending and financial performance of the SOEs. 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  --  Moderately Satisfactory Overall Implementation Progress (IP)  --  Moderately Satisfactory Implementation Status and Key Decisions The MOPF has prepared the TORs for eleven key consultant positions and will advertise them by the end of April 2016. An extension of the parent Trust Fund is required to provide the MOPF with enough time to complete all the actions envisaged under the grant. 4/29/2016 Page 1 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Romania Strengthening Financail Accountability (P152568) Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall  Moderate  --  Moderate Comments The MOPF has limited experience in hiring and managing consultants. However they are progressing very cautiously and are requesting intensive bank support and guidance throughout implementation. This grant is supported by staff based in the Romania office and a procurement specialist based in Bulgaria who visits Romania regularly. Staff have had several meetings in person and VCs with relevant staff when necessary. The main risk is not being able to complete all the activities if the current closing date is not extended. Results Project Development Objective Indicators PHINDPDOTBL Methodology for results informed budgeting elaborated (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 08-Sep-2014 -- 21-Apr-2016 30-Nov-2016 PHINDPDOTBL Elaboration of strategic and technical guidelines to improve the quality of SOE reporting (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 01-Jul-2015 -- 18-Apr-2016 30-Nov-2016 Overall Comments 4/29/2016 Page 2 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Romania Strengthening Financail Accountability (P152568) The overarching objective of this activity is to provide direct support to strengthen the fiscal management by improving the quality of public spending and financial performance of the SOEs. Intermediate Results Indicators PHINDIRITBL Consultants with relevant qualifications and experience hired (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N N Date 18-Apr-2016 -- 18-Apr-2016 31-May-2016 Overall Comments Given the short duration of the assignment intermediate results indicators are not appropriate. We are therefore only monitoring whether the consultants have been hired or not. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P152568 TF-18442 Effective USD 0.49 0.49 0.00 0.00 0.49 0% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P152568 TF-18442 Effective 14-Sep-2015 16-Nov-2015 16-Nov-2015 30-Nov-2016 30-Nov-2016 Cumulative Disbursements 4/29/2016 Page 3 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Romania Strengthening Financail Accountability (P152568) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 4/29/2016 Page 4 of 4 Public Disclosure Copy