2nd Strengthening Growth & Fiscal Policy Development Policy Financing

Abstract*

The development objective of Second Strengthening Growth and Fiscal Policy Development Policy Financing Project for Sao Tome and Principe is to help the government introduce growth enabling reforms in the financial sector, business environment, and infrastructure; generate fiscal resources and savings; and improve the quality of expenditures. The operation will mainly support the second and fourth axis of the government’s strategy: sustainable growth... Show More

Development Objective

The objective of this operation is to help the government introduce growth-enabling reforms in the financial sector, business environment, and infrastructure; generate fiscal resources and savings; and improve the quality of expenditures.

Key Details

Project Details

Project ID
P161707
Status
Closed
Team Leader
Rafael Barroso
Borrower 2
Ministry of Finance, Trade and the Blue Economy

Country
Sao Tome and Principe
Disclosure Date
May 31, 2017
Approval Date
(as of board presentation)
May 18, 2018
Effective Date
July 9, 2018

Total Project Cost 1
US$ 6.00 million
Implementing Agency
EMAE
Region
Eastern and Southern Africa
Fiscal Year 3
2018

Commitment Amount
US$ 6.00 million
Environmental Category
N/A
Last Update Date
April 19, 2023
Closing Date
December 31, 2018

Last Stage Reached
BANK APPROVED
Parent Projects
P159010

Associated Projects
P164321

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Fiscal Policy9%
- FY17 - Tax policy9%

FY17 - Environment and Natural Resource Management

FY17 - Energy27%
- FY17 - Energy Policies & Reform27%

FY17 - Finance

FY17 - Financial Infrastructure and Access18%
- FY17 - Financial inclusion18%
FY17 - Financial Stability9%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring9%

FY17 - Public Sector Management

FY17 - Public Administration18%

FY17 - Social Development and Protection

FY17 - Social Protection9%
- FY17 - Social protection delivery systems9%

FY17 - Urban and Rural Development

FY17 - Rural Development9%
- FY17 - Land Administration and Management9%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Grant	6.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	6.00
IBRD + IDA Commitment	6.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	6.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Aug 22, 2018	IDA-D3050	Loan Disb	5,871,852.00
May 18, 2018	IDA-D3050	Loan Commitment	6,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Unsatisfactory	2019-09-17
Monitoring and Evaluation	Moderately Unsatisfactory	2019-09-17
Program Management	Moderately Unsatisfactory	2019-09-17
Overall Implementation Progress (IP)	Moderately Unsatisfactory	2019-09-17

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 04-15-2022
Outcomes	Moderately Unsatisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 12-12-2022	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Unsatisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately 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		N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of banks below the Central Bank’s minimum Capital. Adequacy Ratio (12 percent) Value 3.00 0.00 0.00
Date December 31, 2015 December 31, 2020 December 31, 2020
Comment
Share of the population with access to formal financial services (e.g. bank accounts). Value 39.00 39.00 45.00
Date December 31, 2017 December 31, 2020 December 31, 2020
Comment
number of SOEs’ performance monitoring systems in place. Value 0.00 0.00 2.00
Date December 31, 2015 December 31, 2020 December 31, 2020
Comment
Share of real estate properties and mortgages registered and digitized in the Public Notary Registry. Value 0.00 54.00 70.00
Date December 31, 2015 December 31, 2020 December 31, 2020
Comment
EMAE’s operational profit/loss (in millions LCU). Value -224.90 442.70 -194.70
Date December 31, 2015 December 31, 2020 December 31, 2020
Comment
Number of complaints received by EMAE Value 6542.00 3203.00 3000.00
Date December 31, 2015 December 31, 2020 December 31, 2020
Comment
Tax revenues except custom duties on oil (in millions LCU) Value 831.10 1117.20 1050.00
Date December 31, 2016 December 31, 2020 December 31, 2020
Comment
Share of ongoing and finalized projects with basic information included in the National Investment Portfolio Database. Value 0.00 0.00 95.00
Date December 31, 2015 December 31, 2020 December 31, 2020
Comment

Number of beneficiaries enrolled in the three core social protection programs and receiving regular payments as set in law.	Value	0.00	5500.00	4000.00
	Date	December 31, 2015	December 31, 2020	December 31, 2020
	Comment

Number of banks below the Central Bank’s minimum Capital. Adequacy Ratio (12 percent)	Value	3.00	0.00	0.00
	Date	December 31, 2015	December 31, 2020	December 31, 2020
	Comment

Share of the population with access to formal financial services (e.g. bank accounts).	Value	39.00	39.00	45.00
	Date	December 31, 2017	December 31, 2020	December 31, 2020
	Comment

EMAE’s operational profit/loss (in millions LCU).	Value	-224.90	442.70	-194.70
	Date	December 31, 2015	December 31, 2020	December 31, 2020
	Comment

Number of complaints received by EMAE	Value	6542.00	3203.00	3000.00
	Date	December 31, 2015	December 31, 2020	December 31, 2020
	Comment

Tax revenues except custom duties on oil (in millions LCU)	Value	831.10	1117.20	1050.00
	Date	December 31, 2016	December 31, 2020	December 31, 2020
	Comment