The World Bank Report No: ISR12418 Implementation Status & Results Tunisia Energy Efficiency (P104266) Public Disclosure Copy Operation Name: Energy Efficiency (P104266) Project Stage: Implementation Seq.No: 8 Status: ARCHIVED Archive Date: 12-Mar-2014 Country: Tunisia Approval FY: 2009 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Specific Investment Loan Implementing Agency(ies): ANME (Agence Nationale pour la Maitrise de l'Energie) Key Dates Board Approval Date 30-Jun-2009 Original Closing Date 28-Feb-2014 Planned Mid Term Review Date 01-Jun-2012 Last Archived ISR Date 20-Aug-2013 Effectiveness Date 04-Feb-2010 Revised Closing Date 28-Feb-2014 Actual Mid Term Review Date 13-Apr-2012 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to scale up industrial energy efficiency and cogeneraiton investments, and thereby contribute to the Government's new Four-year Energy Conservation Program. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Line of credit to two commercial banks 40.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Moderately Unsatisfactory Moderately Satisfactory Public Disclosure Copy Overall Risk Rating Implementation Status Overview Following the restructuring in November 2012, the World Bank Project Team and all concerned parties in the Project have agreed to closely supervise the project and its disbursement performance through quarterly supervision missions. This includes ANME (the PMU), which oversees the project on behalf of the Government of Tunisia, and the two participating financial intermediaries (PFIs): Amen Bank and the Banque de l’Habitat (BH). As of February 2014, the disbursement level stands at US$7.8 million (19 percent of the restructured total credit amount of US$40 million), which represents an increase of 2.5 times compared to November 2012 and 42% compared to September 2013. Page 1 of 4 The World Bank Report No: ISR12418 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 Cumulative energy savings achieved under the Text Value 0 13.518 50.287 project (ktoe) Date 21-Dec-2009 19-Feb-2014 28-Feb-2014 Comments Subject to the Bank decision As revised in accordance with on Restructuring, the value restructuring. will be confirmed by PMT in June 2014. Cumulative reductions in GHG emissions Metric ton Value 0.00 33.80 125.72 under the project (kt CO2) Date 21-Dec-2009 19-Feb-2014 28-Feb-2014 Comments Subject to the Bank decision As revised in accordance with on Restructuring, the value restructuring. will be confirmed by PMT in June 2014. Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Cumulative funds disbursed under the project Amount(USD) Value 0.00 7.80 40.00 (USD M) Date 21-Dec-2009 19-Feb-2014 28-Feb-2014 Comments As per client connection. Revised upon approved restructuring. Total associated investments (USD M) Amount(USD) Value 0.00 10.00 52.00 Date 21-Dec-2009 19-Feb-2014 28-Feb-2014 Comments Subject to the Bank decision Revised upon approved Public Disclosure Copy on Restructuring, the value restructuring. will be confirmed by PMT in June 2014. Data on Financial Performance (as of 02-Jan-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P104266 IBRD-77430 Effective 30-Jun-2009 08-Jul-2009 04-Feb-2010 28-Feb-2014 28-Feb-2014 Page 2 of 4 The World Bank Report No: ISR12418 Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P104266 IBRD-77440 Effective 30-Jun-2009 08-Jul-2009 04-Feb-2010 28-Feb-2014 28-Feb-2014 P104266 IBRD-77450 Effective 30-Jun-2009 08-Jul-2009 04-Feb-2010 28-Feb-2014 28-Feb-2014 Public Disclosure Copy Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P104266 IBRD-77430 Effective USD 5.00 0.01 4.99 0.01 0.00 108.00 P104266 IBRD-77440 Effective USD 20.00 10.05 9.95 1.02 9.08 10.00 P104266 IBRD-77450 Effective USD 30.00 30.00 0.00 6.56 23.58 22.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation Despite the fact that the current disbursement level (19% of the total allocated credit amount) is not at the expected level, there is an important recent increase in the disbursement level, and a promising pipeline of potential sub-projects from the PFIs and PMU. This is due to an increased interest in the energy efficiency investments and the World Bank line of credit in Tunisia. The Task team recommends that the Bank consider an extension of the original project closing date of February 28, 2014, up to June 30, 2015, based on a new Action Plan to accelerate disbursements. Restructuring History Level two Approved on 07-Nov-2012 Related Projects Page 3 of 4 The World Bank Report No: ISR12418 There are no related projects. Public Disclosure Copy Public Disclosure Copy Page 4 of 4