The World Bank Report No: ISR11969 Implementation Status & Results Uruguay 2nd. Programmatic Public Sector, Competitiveness and Social Inclusion Development Policy Loan with Drawdown Option (P123242) Public Disclosure Copy Project Name: 2nd. Programmatic Public Sector, Competitiveness and Program Stage: Implementation Seq.No: 4 Status: ARCHIVED Archive Date: 25-Nov-2013 Social Inclusion Development Policy Loan with Drawdown Option (P123242) Country: Uruguay Approval FY: 2012 Product Line: IBRD/IDA Region: LATIN AMERICA AND CARIBBEAN Lending Instrument: Development Policy Lending Implementing Agency(ies): Key Dates Board Approval Date 25-Oct-2011 Original Closing Date 25-Jun-2015 Planned Mid Term Review Date 02-Apr-2013 Last Archived ISR Date 16-May-2013 Effectiveness Date 09-Dec-2011 Revised Closing Date 25-Jun-2015 Actual Mid Term Review Date 10-Apr-2013 Program Development Objectives Program Development Objective (from Program Document) The main development objectives of the loan are the following: (i) Strengthening public sector administration; (ii) Improving competitiveness through measures seeking to facilitate trade, strengthen the business environment and develop financial markets; (iii) Improving social inclusion through measures seeking to enhance the equity and efficiency of health, education and social protection services. Has the Program Development Objective been changed since Board Approval of the Program? Yes No Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Public Disclosure Copy Implementation Status Overview The Second Programmatic Public Sector, Competitiveness and Social Inclusion Development Policy Loan with a Deferred Drawdown Option was approved by the Board on October 25, 2011 and was made effective on December 9, 2011. Implementation continues to be on track. Progress has been made in the majority of areas supported by the DPL, which is also reflected in the improvement in the indicators, quantitatively and qualitatively. Results Results Indicators Page 1 of 4 The World Bank Report No: ISR11969 Indicator Name Core Unit of Measure Baseline Current End Target Increase in the number of processes that are Number Value 20.00 203.00 25.00 started and completed electronically. Date 31-Dec-2009 25-Oct-2013 25-Jun-2015 Public Disclosure Copy Comments The end target has already been exceeded. Increase in the number of priority areas and Text Value 0 7 priority areas, 29 40 expenditure programs expenditure programs for which output and expenditure programs outcome indicators have been identified. Date 31-Dec-2009 30-Sep-2013 25-Jun-2015 Comments The number of priority area remained 7, and the programs with result indicators remains 29, although the government has informed the mission that the quality of the indicators reported has been improved. On the other hand for three new programmatic areas indicators of context have been included in Rendicion de Cuentas 2012 Volume II. Increase in the number of irregularities Percentage Value 0.00 1.44 detected by the risk management system Date 31-Dec-2009 01-Apr-2013 relative to the total number of inspections. Comments The counterparts from the No target has been defined in customs department informed the PAD. The team will the mission that the share of consult with the Development irregularities in the twelve Effectiveness unit and the months to September was government to see how best 1.44%, and 1.63% for the to address this issue. month of September. Rise in market capitalization. Text Value USD 139 million USD 327 million Date 31-Dec-2009 30-Aug-2013 Public Disclosure Copy Comments There has been an increase No target had been defined in of USD35 million between the PAD. The team will March 2013 and August 2013. consult with the Development Total market capitalization as Effectiveness unit and the of August 30th 2013was government to see how best USD327 million. to address this issue. Page 2 of 4 The World Bank Report No: ISR11969 Increase in the total number of new private Number Value 8.00 60.00 sector issuances (including stocks, corporate Date 31-Dec-2009 30-Aug-2013 bonds and financial trusts). Comments The total number of private No target has been defined in Public Disclosure Copy sector issuances is 60. the PAD. The team will consult with the Development Effectiveness unit and the government to see how best to address this issue. Stock exchange activity in both primary and Number Value 12384000.00 43533000.00 secondary markets Date 31-Dec-2009 31-Aug-2013 Comments The activity in the stock No target has been define in exchange almost doubled to the PAD. The team will USD43.533 million by the end consult with the Development of August. A change in Effectiveness unit and the regulations that limit government to see how best thenumber of participants in to address this issue. the purchases of new issues has led to a marked increase in activity in the secondary market. Decline in extreme poverty (as measured by Percentage Value 0.80 0.30 0.40 the percentage of households that are in Date 31-Dec-2009 31-Dec-2012 25-Jun-2015 extreme poverty) Comments The end target has already been achieved. The Health Insurance System increases its Percentage Value 43.00 66.70 60.00 coverage. Date 31-Dec-2009 29-Apr-2013 25-Jun-2015 Comments The end target has already been achieved. Data on Financial Performance (as of 27-Dec-2011) Public Disclosure Copy Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P123242 IBRD-80940 Effective 25-Oct-2011 28-Oct-2011 09-Dec-2011 25-Jun-2015 25-Jun-2015 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P123242 IBRD-80940 Effective USD 260.00 260.00 0.00 0.00 260.00 0.00 Tranches Page 3 of 4 The World Bank Report No: ISR11969 Tranche 1 Public Disclosure Copy Amount (USD) Expected Release Date Actual Release Date Status 0 Pending Released Key Decisions Regarding Implementation The Government has currently not voiced any intention to draw-down the loan. Restructuring History There has been no restructuring to date. Related Operations P116215-First Programmatic Public Sector, Competitiveness and Social Inclusion Development Policy Loan, P123242-2nd. Programmatic Public Sector, Competitiveness and Social Inclusion Development Policy Loan with Drawdown Option Public Disclosure Copy Page 4 of 4