| Financier | Commitments |
|---|---|
| Strategic Climate Fund Grant | 8.55 |
| Borrower/Recipient | 2.13 |
Geothermal Exploratory Drilling Project
Abstract*
The development objective of the Geothermal Exploratory Drilling Project for Armenia is to confirm whether the geothermal resource at the project site is suitable for power generation and, if confirmed, to involve the private sector in the development of a geothermal power plant. The project comprises of two components. The first component, phase one exploratory drilling program consists of following two sub-components: (i) construction of access... Show More
Development Objective
The proposed project development objective is to confirm whether the geothermal resource at the project site is suitable for power generation and, if confirmed, to involve the private sector in the development of a geothermal power plant.
Key Details
Project Details
P152039
Closed
Almudena Mateos Merino
MINISTRY OF FINANCE,Ministry of Territorial Administration and Infrastructures
January 15, 2015
(as of board presentation)
June 8, 2015
August 25, 2015
US$ 10.68 million
Renewable Resources and Energy Efficiency Fund
2015
US$ 8.55 million
B
October 2, 2023
May 31, 2019
TBD
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | N/A |
| Lending Instrument | |
|---|---|
| Grant Amount | 8.55 |
| Total Project Cost** | 10.68 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
Detailed Financial Activity as of March 31, 2025
No data available.
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Satisfactory | 2019-02-19 |
| Procurement | Satisfactory | 2019-02-19 |
| Financial Management | Satisfactory | 2019-02-19 |
| Counterpart Funding | Satisfactory | 2019-02-19 |
| Monitoring and Evaluation | Satisfactory | 2019-02-19 |
| Overall Implementation Progress (IP) | Satisfactory | 2019-02-19 |
| Project Management | Satisfactory | 2019-02-19 |
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 12-02-2019 |
|---|---|
| Outcomes | Substantial |
| Risk to Development Outcome | |
| Bank Performance | Substantial |
| Borrower Performance | |
| Government Performance | |
| Implementing Agency |
INDEPENDENT EVALUATION RATINGS
| INDICATOR | ICR REVIEW: 06-24-2020 | PROJECT PERFORMANCE ASSESSMENT REPORT: |
|---|---|---|
| Outcome Rating | Moderately Satisfactory | N/a |
| Risk To Development Outcome | N/a | |
| Bank Performance | Satisfactory | N/a |
| Borrower Performance | N/a | |
| Government Performance | Not Rated | N/a |
| Implementing Agency | N/a | |
| Icr Quality | Substantial | N/a |
| M&e Quality | Substantial | N/a |
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Evidence provided to the Government for its decision on whether or not to construct a geothermal power plant at the Karkar geothermal site Value No Yes Date January 14, 2015 January 25, 2019 Comment If geothermal resource is confirmed, power plant development is competitively awarded to qualified private developer(s) Value No No Date January 14, 2015 May 31, 2019 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Percent of registered project related grievances responded to within stipulated service standards for response times Value 0.00 100.00 0.00 Date March 30, 2015 May 31, 2019 Comment One production-size well drilled to a depth of around 1,800 meters if the results of the drilling of slim well(s) warrantee such drilling Value 0.00 0.00 0.00 Date March 30, 2015 May 31, 2019 Comment One or two slim exploratory wells drilled to a depth of around 1,200 meters Value 0 2 Date March 30, 2015 May 31, 2019 Comment Feasibility study for a potential power plant completed Value No No Date March 30, 2015 May 31, 2019 Comment Tendering for private sector involvement in construction of a geothermal power plant completed if results from the feasibility study confirm technical and economic/financial viability of such a plant Value No Yes Date March 30, 2015 May 31, 2019 Comment