The World Bank Report No: ISR15443 Implementation Status & Results Nicaragua Nicaragua Strengthening Investment & Export Promotion (P131210) Public Disclosure Copy Operation Name: Nicaragua Strengthening Investment & Export Promotion Project Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 06-Jul-2014 (P131210) Country: Nicaragua Approval FY: 2012 Product Line: Institutional Development Fund Region: LATIN AMERICA AND CARIBBEAN Lending Instrument: Implementing Agency(ies): Key Dates Board Approval Date 26-Apr-2012 Original Closing Date 05-Sep-2015 Planned Mid Term Review Date Last Archived ISR Date 17-May-2013 Effectiveness Date 30-Nov-2012 Revised Closing Date 05-Sep-2015 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from IDF Proposal) The overall objective of this grant is to strengthen investment and export promotion efforts in Nicaragua. The specific developmentobjective is to build the capacity of the institutions involved in investment and export promotion, specifically the capacity of PRONicaragua to coordinate these efforts. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Strengthening Investment and Export Promotion Capacities 232000.00 Audit 8000.00 Overall Ratings Previous Rating Current Rating Public Disclosure Copy Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Overall Risk Rating Implementation Status Overview Over the last year, implementation of the grant has been somewhat slow, but steady. The donation has disbursed $90,000. Progress has been made in defining specific activities and in contracting key consultancies for supporting the export and investment promotion work and for defining a new institutional model for the agency. A restructuring was completed in January 2014. The changes made were primarily to devote more resources and activities to developing Pronicaragua's incipient export promotion capacity. The modifications included an elimination of limited support to build capacity for PPP promotion and for business regulatory reform, since both activities would be covered under other engagements. The restructuring also modified the indicators, which are reflected in this ISR. The portal system has not registered the restructuring, but the team is working to correct this and it Page 1 of 3 The World Bank Report No: ISR15443 should show in the system in the next weeks. Mission visits were completed November and April, and included a visit from an export promotions international expert that worked with Pronicaragua in defining its activities. Public Disclosure Copy Locations No Location data has been entered Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Proposal for Pronicaragua's legal entity Yes/No Value No Yes Yes developed Date 06-Jun-2014 15-Sep-2014 Comments Proposal for Pronicaragua's Proposal for Pronicaragua's legal entity has been legal entity detailing its developed and was submitted institutional, administrative, to the Office of the and regulatory functions Presidency. submitted for approval to relevant authorities. Export promotion strategy developed Date Value 20140611 20150915 Date Comments Firm contracted and is Strategy ratified by developing strategy in Presidential Delegate for conjunction with Investment and Export Pronicaragua. Promotion Capacity of Pronicaragua's team in investment Number Value 0.00 4.00 and export promotion best practices is Date 11-Jun-2014 15-Sep-2015 strengthened Comments Guidelines are under Number of staff applying best development to provide best practices described in practices guidelines Public Disclosure Copy Data on Financial Performance (as of 06-Jun-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P131210 TF-12322 Effective 28-Aug-2012 05-Sep-2012 30-Nov-2012 05-Sep-2015 05-Sep-2015 Disbursements Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P131210 TF-12322 Effective USD 0.24 0.24 0.00 0.09 0.15 38.00 Page 2 of 3 The World Bank Report No: ISR15443 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation Although implementation has been somewhat slow, it is expected that activities will be completed prior to the grant's closing date in September 2015. The restructuring completed in January 2014 has helped focus energy and resources on the grant's key activities in export and investment promotion. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 3 of 3