Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Financing Program (P098423) Sustainable Energy Financing Program (P098423) EAST ASIA AND PACIFIC | Pacific Islands | Energy & Extractives Global Practice | Global Environment Project | Investment Project Financing | FY 2007 | Seq No: 20 | ARCHIVED on 14-Jun-2019 | ISR37381 | Implementing Agencies: Department of Energy, Republic of Fiji, ANZ, Department of Energy Key Dates Key Project Dates Bank Approval Date: 12-Jun-2007 Effectiveness Date: 09-Jul-2007 Planned Mid Term Review Date: 30-Sep-2010 Actual Mid-Term Review Date: 12-Jan-2011 Original Closing Date: 31-Dec-2017 Revised Closing Date: 31-Dec-2022 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project aims to significantly increase the adoption and use of renewable energy technologies in participating Pacific Island states through a package of incentives to encourage local financial institutions to participate in sustainable energy finance in support of equipment purchase. Has the Project Development Objective been changed since Board Approval of the Project Objective? Yes Board Approved Revised Global Environmental Objective (If project is formally restructured)HRPDODELs The objective of the Program is (i) to significantly increase the adoption and use of renewable energy technologies and the more efficient use of energy through a package of incentives to encourage local financial institutions to participate in sustainable energy finance in the Participating Pacific Island States; and (ii) to support knowledge sharing and capacity building on renewable energy and energy efficiency technologies in the Participating Pacific Island States. Components Table Name Management, Monitoring and Evaluation:(Cost $0.76 M) Technical Assistance, Market Incentives and Communications:(Cost $1.79 M) Risk-Sharing Fund:(Cost $5.20 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions 6/14/2019 Page 1 of 5 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Financing Program (P098423) The Project has met and exceeded the Global Environmental Objectives over the initial implementation period. The SEFP supports investments in solar photovoltaic, pico hydro (small hydro systems), coconut oil (new and switching) and associated equipment, and other renewable energy products such as solar water heaters, and in energy efficiency equipment and programs. Due to the success of the Project in Fiji and ongoing demand in the region the Bank has extended the Project and relaunched it as a regional risk facility for the benefit of the Pacific Island Countries more broadly per the original intent and design of the Project. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Low Low Macroeconomic -- Low Low Sector Strategies and Policies -- Low Low Technical Design of Project or Program -- Low Low Institutional Capacity for Implementation and Sustainability -- Low Low Fiduciary -- Moderate Moderate Environment and Social -- Low Low Stakeholders -- Moderate Moderate Other -- -- -- Overall -- Moderate Moderate Results PDO Indicators by Objectives / Outcomes Increased renewable energy technologies and energy efficiency IN00710147 ►Increased lending from local financial institutions for RE and EE equipment in the Recipient’s territory (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 21.53 21.53 41.00 Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 Comments: Increased lending from local financial institutions for RE and EE equipment in the Recipient’s territory IN00710148 ►Additional number of kW of RE and EE technology financed through approved participating financing institutions (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.49 4.49 8.80 6/14/2019 Page 2 of 5 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Financing Program (P098423) Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 Additional number of kW of RE and EE technology financed through approved participating financing Comments: institutions IN00710149 ►Carbon Dioxide emissions avoided due to financing through project (Metric ton, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.65 6.65 13.00 Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 Comments: Carbon Dioxide emissions avoided due to financing through project Overall Comments PDO There has been no change in KPIs due the delay in practical relaunch which is pending finalization of the wording of the legal opinion. Intermediate Results Indicators by Components Risk-Sharing Fund IN00710150 ►RSF guarantees called (Component 1) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1.00 1.00 2.00 Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 IN00710153 ►Number of loans approved for (i) MSEs, (ii) community organizations and (iii) individuals (Component 1) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 70.00 70.00 135.00 Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 Technical Assistance, Market Incentives and Communications IN00710151 ►MSEs and Community organizations participating in TA or training activities (Component 2) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.00 5.00 12.00 Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 IN00710154 ►Number of articles and broadcasts organized by the Recipient on the benefits of renewable energy and energy efficiency (Component 2) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 21.00 21.00 51.00 6/14/2019 Page 3 of 5 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Financing Program (P098423) Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 IN00710155 ►Number of showcases and community presentations organized by the Recipient on the benefits of renewable energy and energy efficiency (Component 2) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 80.00 80.00 130.00 Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 Management, Monitoring and Evaluation IN00710152 ►Grievances registered related to delivery of project benefits that are addressed (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 75.00 Date 12-Jul-2007 11-Dec-2018 31-Mar-2019 31-Dec-2022 Overall Comments IR No change in intermediate indicators as project is awaiting practical relaunch pending finalization of the wording of the Legal opinion on Implementation Agreement. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P098423 TF-58282 Effective USD 5.20 5.20 0.00 5.20 0.00 100% P098423 TF-58284 Effective USD 1.99 1.99 0.00 0.35 1.65 17% P098423 TF-90429 Effective USD 0.70 0.56 0.14 0.51 0.05 91% P098423 TF-90430 Closed USD 0.51 0.19 0.32 0.19 0.00 100% P098423 TF-90431 Closed USD 0.51 0.51 0.00 0.51 0.00 100% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P098423 TF-58282 Effective 17-Aug-2007 17-Aug-2007 29-Oct-2007 31-Dec-2017 31-Dec-2022 P098423 TF-58284 Effective 09-Jul-2007 09-Jul-2007 09-Jul-2007 31-Dec-2017 31-Dec-2022 6/14/2019 Page 4 of 5 Public Disclosure Copy The World Bank Implementation Status & Results Report Sustainable Energy Financing Program (P098423) P098423 TF-90429 Effective 09-Jul-2007 09-Jul-2007 09-Jul-2007 31-Dec-2017 31-Dec-2022 P098423 TF-90430 Closed 05-Jul-2007 05-Jul-2007 28-Sep-2007 31-Dec-2017 23-Jul-2014 P098423 TF-90431 Closed 21-Jun-2007 21-Jun-2007 02-Nov-2007 31-Dec-2017 07-Jul-2014 Cumulative Disbursements Restructuring History Level Approved on 08-Nov-2012 ,Level 1 Approved on 24-Apr-2014 ,Level 2 Approved on 03-Oct-2017 ,Level 2 Approved on 19-Dec-2017 ,Level 2 Approved on 06-Jun-2018 ,Level 2 Approved on 22-Aug-2018 Related Project(s) There are no related projects. 6/14/2019 Page 5 of 5