Financial Sector Rapid Response Project

Development Objective

To assist DAB to develop action plans for improved banking supervision and to establish key building blocks of financial sector infrastructure: payment system, movable collateral registry, and public credit registry.

Key Details

Project Details

Project ID
P119047
Status
Closed
Team Leader
Andrej Popovic
Borrower 2
Ministry of Finance,Islamic Republic of Afghanistan

Country
Afghanistan
Disclosure Date
August 4, 2011
Approval Date
(as of board presentation)
August 25, 2011
Effective Date
September 6, 2011

Total Project Cost 1
US$ 19.00 million
Implementing Agency
DA AFGHANISTAN BANK
Region
South Asia
Fiscal Year 3
2012

Commitment Amount
US$ 19.00 million
Environmental Category
C
Last Update Date
May 27, 2021
Closing Date
October 31, 2019

Last Stage Reached
BANK APPROVED

Associated Projects
P160073
P147624

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 - Finance

FY17 - Financial Stability100%
- FY17 - Financial Sector Integrity50%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring50%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	19.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	19.00
IBRD + IDA Commitment	19.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	19.00

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$)
Jan 7, 2016	IDA-H8930	Loan Disb	-3,160.00
Jun 29, 2020	IDA-H8930	Loan Cancel	2,021.24
Dec 7, 2015	IDA-H7320	Loan Disb	449,033.84
Nov 30, 2015	IDA-H8930	Loan Disb	322,656.66
Mar 14, 2016	IDA-H7320	Loan Disb	581,907.20
Dec 17, 2014	IDA-H8930	Loan Disb	800,000.00
Sep 17, 2014	IDA-H7320	Loan Disb	72,056.99
Aug 4, 2014	IDA-H7320	Loan Disb	41,744.01
May 26, 2015	IDA-H8930	Loan Disb	493,562.80
Apr 6, 2015	IDA-H7320	Loan Disb	1,288,044.50
Sep 1, 2015	IDA-H8930	Loan Disb	92,185.83
Nov 16, 2015	IDA-H7320	Loan Disb	402,725.10
Sep 25, 2013	IDA-H7320	Loan Disb	205,927.08
Mar 10, 2014	IDA-H7320	Loan Disb	169,949.11
Oct 8, 2014	IDA-H7320	Loan Disb	770,124.75
Jan 22, 2015	IDA-H8930	Loan Disb	793,518.80
Dec 1, 2014	IDA-H7320	Loan Disb	81,907.00
Nov 19, 2013	IDA-H7320	Loan Disb	282,313.80
Aug 29, 2019	IDA-H8930	Loan Disb	1,206,300.00
Sep 21, 2019	IDA-H7320	Loan Cancel	8,121.69
Sep 21, 2019	IDA-H8930	Loan Cancel	1,285,852.00
Sep 21, 2019	IDA-D1400	Loan Cancel	19,739,952.00
Aug 29, 2019	IDA-H7320	Loan Disb	250,000.00
Aug 28, 2018	IDA-H7320	Loan Disb	5,250,000.00
Aug 28, 2018	IDA-H8930	Loan Disb	1,048,711.80
Mar 16, 2018	IDA-H7320	Loan Disb	787,959.50
Oct 11, 2016	IDA-H7320	Loan Disb	101,363.62
Dec 14, 2016	IDA-H8930	Loan Disb	100,949.99
Jul 29, 2015	IDA-H7320	Loan Disb	206,637.27
Jan 19, 2016	IDA-H7320	Loan Disb	386,065.75
Dec 14, 2015	IDA-H7320	Loan Disb	764,026.30
Oct 27, 2016	IDA-D1400	Loan Commitment	20,000,000.00
Aug 25, 2011	IDA-H7320	Loan Commitment	19,000,000.00
Nov 26, 2013	IDA-H8930	Loan Commitment	6,700,000.00
May 18, 2020	IDA-H8930	Loan Disb	-1,989.70
Jan 7, 2016	IDA-H8930	Loan Disb	3,160.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Procurement	Unsatisfactory	2020-04-03
Project Management	Satisfactory	2020-04-03
Monitoring and Evaluation	Satisfactory	2020-04-03
Progress towards achievement of PDO	Moderately Satisfactory	2020-04-03
Financial Management	Moderately Unsatisfactory	2020-04-03
Overall Implementation Progress (IP)	Moderately Unsatisfactory	2020-04-03

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-29-2020
Outcomes	Moderately Unsatisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 03-02-2021	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	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Actions plans developed, with initial implementation monitored,for the ten banks audited Value No action plan Partially Conforms Conform
Date August 25, 2011 April 6, 2020 October 27, 2016
Comment
Payment system conforms to international norms Value Not conform Substantially Conforms Conform
Date August 25, 2011 April 6, 2020 October 27, 2016
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Approval by DAB of financial sector regulations ensuring consistency with international standards	Value	Afghanistan financial sector regulations not fully	A new banking law and AML/CFT regulations were app
	Date	November 26, 2013	April 6, 2020
	Comment

Effective Financial Supervision Department (FSD) organization with training processes in place to ensure sustainable capacity development	Value	Revised FSD organizationapproved byDAB	Procurement of TA for Financial Supervision Depart
	Date	November 1, 2013	April 6, 2020
	Comment

DAB training - Number of key DAB staff trained Value 0 331.00
Date August 16, 2016 April 6, 2020
Comment
Audit reports completed highlighting strengths and weaknesses of each bank Value No audit reports Audits completed
Date August 25, 2011 April 6, 2020
Comment
Percentage increase in the number of on-site and off-site examinations by the department Value 0.00 0.00 0.00
Date November 1, 2013 December 30, 2016
Comment
Number of DAB staff who have completed or enrolled into a Bachelor or Masters program Value 88.00 220.00 0.00
Date August 16, 2016 April 25, 2018
Comment
Rating of national payment system Value Low: a, e, f; Med-low: d; n.a. b, c Low: a, e, f; Med-low: d; n.a. b, c
Date August 1, 2011 April 6, 2020
Comment
RTGS operational and transactions settled in real time by end of project Value No RTGS RTGS is installed and functional in DAB. However,
Date August 25, 2011 April 6, 2020
Comment
DAB training - Percentage of eligible staff in critical functions who completed specialized, professional training sessions Value 0.00 55.00 0.00
Date August 16, 2016 April 25, 2018
Comment
Increase in the number of creditreports sent by the Public Credit Registry to commercial banks Value 0.00 440802.00 0.00
Date November 1, 2013 April 6, 2020
Comment
Number of commercial banks? staff trained in AIBF reaches 6,000 by end of project Value 1017 10,068.00
Date August 25, 2011 April 6, 2020
Comment
Number of key DAB female staff trained under the project Value 0 28
Date August 16, 2016 April 6, 2020
Comment
Increase in the number of items of collateral registered in the Collateral Registry Value 815.00 7547.00 0.00
Date November 1, 2013 April 6, 2020
Comment
Enhanced operational efficiency of DAB staff : percentage reduction in time spent to prepare DAB balance sheet Value 0 0
Date August 16, 2016 April 6, 2020
Comment
of which the number of female commercial bank staff trained Value 243 1,808.00 1200
Date November 22, 2016 April 6, 2020 October 31, 2019
Comment
of which the number of female commercial bank staff trained Value 243 1,808.00 1200
Date November 22, 2016 April 6, 2020 October 31, 2019
Comment

Increased transparency through the adoption of international central bank accounting and auditing standards	Value	Financial statements prepared based on local accou	Financial statements prepared based on local accou
	Date	August 16, 2016	April 6, 2020
	Comment

Improved sustainability of APS and AIBF Value 0.00 22.00 0.00
Date August 16, 2016 April 6, 2020
Comment
Card payment system Value No interbank card system System is live and 6 banks are already part of the
Date August 25, 2011 April 6, 2020
Comment
Interbank payment Value T+1 for Kabul area and T+3 for other areas Settlements through ATS, banks finalized testing t
Date August 1, 2011 April 6, 2020
Comment

Actions plans developed, with initial implementation monitored,for the ten banks audited	Value	No action plan	Partially Conforms	Conform
	Date	August 25, 2011	April 6, 2020	October 27, 2016
	Comment

Payment system conforms to international norms	Value	Not conform	Substantially Conforms	Conform
	Date	August 25, 2011	April 6, 2020	October 27, 2016
	Comment

DAB training - Number of key DAB staff trained	Value	0	331.00
	Date	August 16, 2016	April 6, 2020
	Comment

Audit reports completed highlighting strengths and weaknesses of each bank	Value	No audit reports	Audits completed
	Date	August 25, 2011	April 6, 2020
	Comment

Percentage increase in the number of on-site and off-site examinations by the department	Value	0.00	0.00	0.00
	Date	November 1, 2013	December 30, 2016
	Comment

Number of DAB staff who have completed or enrolled into a Bachelor or Masters program	Value	88.00	220.00	0.00
	Date	August 16, 2016	April 25, 2018
	Comment

Rating of national payment system	Value	Low: a, e, f; Med-low: d; n.a. b, c	Low: a, e, f; Med-low: d; n.a. b, c
	Date	August 1, 2011	April 6, 2020
	Comment

RTGS operational and transactions settled in real time by end of project	Value	No RTGS	RTGS is installed and functional in DAB. However,
	Date	August 25, 2011	April 6, 2020
	Comment

Number of commercial banks? staff trained in AIBF reaches 6,000 by end of project	Value	1017	10,068.00
	Date	August 25, 2011	April 6, 2020
	Comment

Increase in the number of items of collateral registered in the Collateral Registry	Value	815.00	7547.00	0.00
	Date	November 1, 2013	April 6, 2020
	Comment

of which the number of female commercial bank staff trained	Value	243	1,808.00	1200
	Date	November 22, 2016	April 6, 2020	October 31, 2019
	Comment

Improved sustainability of APS and AIBF	Value	0.00	22.00	0.00
	Date	August 16, 2016	April 6, 2020
	Comment

Card payment system	Value	No interbank card system	System is live and 6 banks are already part of the
	Date	August 25, 2011	April 6, 2020
	Comment

Interbank payment	Value	T+1 for Kabul area and T+3 for other areas	Settlements through ATS, banks finalized testing t
	Date	August 1, 2011	April 6, 2020
	Comment