The World Bank Implementation Status & Results Report Bangladesh Investment Promotion and Financing Facility Project II (IPFF II) (P159429) Bangladesh Investment Promotion and Financing Facility Project II (IPFF II) (P159429) SOUTH ASIA | Bangladesh | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2017 | Seq No: 5 | ARCHIVED on 16-Jul-2019 | ISR37957 | Implementing Agencies: Bangladesh Bank, Ministry of Finance Key Dates Key Project Dates Bank Approval Date: 05-Apr-2017 Effectiveness Date: 22-Jan-2018 Planned Mid Term Review Date: 17-May-2020 Actual Mid-Term Review Date: -- Original Closing Date: 30-Jun-2022 Revised Closing Date: 30-Jun-2022 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The PDO is to increase long-term financing for infrastructure and to build capacity of the local financial institutions for promoting private sector-led infrastructure financing in Bangladesh. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Long-Term Infrastructure Financing Component:(Cost $403.70 M) Technical Assistance Component:(Cost $13.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions Implementation of the Bangladesh Investment Promotion and Financing Facility II (IPFF II) Project has made significant progress following completion of the upstream administrative and procurement activities. Going forward, the following activities are in focus: Component 1 (Long-term Infrastructure Financing): (1) The 15 Participating Financial Institutions (PFIs) will be trained and made to engage more on the Environmental and Social Risk Management System (ESRM) issues with the private sponsors early on. This will help reduce the lead time for preparation of the Environmental and Social Impact Assessment (ESIA), the key impediment to accelerate implementation. (2) The financing pipeline for the main on-lending component has made good progress. The pipeline sub-projects include: a technology sector initiative at Kaliakoir High-Tech Park, a dry dock at Chittagong Port, three private sector economic zones (EZs), a hospital, a waste recycling plant, and a mobile phone tower network. Two applications have been submitted and are now being processed for disbursement from IPFF II. 7/16/2019 Page 1 of 6 The World Bank Implementation Status & Results Report Bangladesh Investment Promotion and Financing Facility Project II (IPFF II) (P159429) Component 2 (Technical Assistance): (1) All goods and services procurement for the Project Implementation Unit’s (PIU's) own utilization has been completed. The technical service consultant procurements for the Public Private Partnership Authority (PPPA) and the Bangladesh Infrastructure Financing Fund Limited (BIFFL, the government owned DFI) are at an advanced stage of processing. (2) The Ministry of Finance (MoF) proposed and the task team agreed to organize longer duration hands-on training on infrastructure PPP and long- term financing for the government officials in key infrastructure ministries/agencies. A training and capacity building plan is being developed to this end. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Substantial Substantial Substantial Macroeconomic Moderate Moderate Moderate Sector Strategies and Policies Low Low Low Technical Design of Project or Program Moderate Moderate Moderate Institutional Capacity for Implementation and Sustainability Moderate Moderate Moderate Fiduciary Moderate Moderate Moderate Environment and Social Substantial Substantial Substantial Stakeholders Moderate Moderate Moderate Other Low Low Low Overall Moderate Moderate Moderate Results PDO Indicators by Objectives / Outcomes Increasing long-term financing for infrastructure & building capacity of the local fin. institutions IN00726071 ►Equity investments from private sector entrepreneurs under IPFF II (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 95,000,000.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726072 ►Long term debt financing for infrastructure under IPFF II (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target 7/16/2019 Page 2 of 6 The World Bank Implementation Status & Results Report Bangladesh Investment Promotion and Financing Facility Project II (IPFF II) (P159429) Value 0.00 0.00 0.00 406,700,000.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726073 ►Total investments in infrastructure under IPFF II (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 610,000,000.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726074 ►Private Capital Mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 260,000,000.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726075 ►Private Capital Mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 260,000,000.00 Date 22-Jan-2018 10-Jan-2019 10-Jul-2019 30-Jun-2022 Overall Comments PDO The PDO indicators will be updated as soon as fund is disbursed to the final project beneficiary, pending approval of the Environmental and Social Impact Assessment (ESIA) document submitted to the safeguards focal point. Intermediate Results Indicators by Components Long-Term Infrastructure Financing Component IN00726076 ►Financing volumes through innovative financial instruments deployed for financing of infrastructure (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30,000,000.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726078 ►At least 20 domestic financial institutions use IPFF II credit line (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 7/16/2019 Page 3 of 6 The World Bank Implementation Status & Results Report Bangladesh Investment Promotion and Financing Facility Project II (IPFF II) (P159429) Value 0.00 0.00 0.00 20.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726080 ►Female beneficiaries from IPFF II (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 200.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726082 ►Affected citizens' satisfaction with infrastructure subprojects (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 75.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726083 ►PFIs maintain eligibility criteria (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 100.00 100.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 Technical Assistance Component IN00726077 ►The capacity of financial institutions participating in IPFF II to undertake financial analysis of infrastructure projects is strengthened - number of staff trained (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 20.00 200.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726079 ►Environmental assessments are undertaken for all infrastructure projects financed under the facility in coordination with the DoE (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 100.00 100.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 IN00726081 ►E&S capacity developed; staff trained (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 30.00 200.00 Date 30-Jun-2017 13-Jul-2018 10-Jul-2019 30-Jun-2022 7/16/2019 Page 4 of 6 The World Bank Implementation Status & Results Report Bangladesh Investment Promotion and Financing Facility Project II (IPFF II) (P159429) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P159429 IDA-60040 Effective USD 100.00 100.00 0.00 11.28 95.88 11% P159429 IDA-60050 Effective USD 256.70 256.70 0.00 28.97 234.97 11% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P159429 IDA-60040 Effective 05-Apr-2017 05-Nov-2017 22-Jan-2018 30-Jun-2022 30-Jun-2022 P159429 IDA-60050 Effective 05-Apr-2017 05-Nov-2017 22-Jan-2018 30-Jun-2022 30-Jun-2022 Cumulative Disbursements 7/16/2019 Page 5 of 6 The World Bank Implementation Status & Results Report Bangladesh Investment Promotion and Financing Facility Project II (IPFF II) (P159429) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 7/16/2019 Page 6 of 6