Treasury Development Project

Abstract*

The overall objectives of the Treasury Development Project for the Russian Federation are to 1) ensure conditions for effective implmentation of the budget, and enable the finance ministry to maintain budget oversight; and 2) provide a transparent system of accounting that shows the utilization of the financial resoures of the Government and enables management and audit of these resources. There are four project components. The first component supplements... Show More

Development Objective

The Project Development Objective is to assist the Borrower in the organization of an efficient system of treasury execution of the federal budget, with appropriate legal and institutional framework, systems and procedures.

Key Details

Project Details

Project ID
P064508
Status
Closed
Team Leader
Cem Dener
Borrower 2
N/A

Country
Russian Federation
Disclosure Date
November 10, 1999
Approval Date
(as of board presentation)
June 6, 2002
Effective Date
October 2, 2002

Total Project Cost 1
US$ 663.00 million
Implementing Agency
N/A
Region
Europe and Central Asia
Fiscal Year 3
2002

Commitment Amount
US$ 231.00 million
Environmental Category
C
Last Update Date
January 15, 2013
Closing Date
June 30, 2012

Last Stage Reached
BANK APPROVED

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 - Public Sector Management

FY17 - Public Administration34%
- FY17 - Transparency, Accountability and Good Governance34%
FY17 - Public Finance Management34%
- FY17 - Public Expenditure Management34%
FY17 - Rule of Law33%
- FY17 - Judicial and other Dispute Resolution Mechanisms11%
- FY17 - Legal Institutions for a Market Economy11%
- FY17 - Personal and Property Rights11%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
Borrower/Recipient	432.00
International Bank for Reconstruction and Development	231.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	231.00
IDA Commitment	N/A
IBRD + IDA Commitment	231.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	663.00

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

No data available.

Detailed Financial Activity as of February 28, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Aug 15, 2013	IBRD-46620	Int Charges	439,686.00
Jun 6, 2002	IBRD-46620	Loan Commitment	231,000,000.00
Aug 15, 2013	IBRD-46620	Int Charges	789.17
Aug 15, 2014	IBRD-46620	Loan Repay	9,491,693.00
Aug 15, 2014	IBRD-46620	Int Charges	309,716.60
Feb 15, 2015	IBRD-46620	Int Charges	300,781.20
Feb 15, 2015	IBRD-46620	Loan Repay	9,190,912.00
Feb 15, 2015	IBRD-46620	Loan Repay	300,781.20
Feb 15, 2014	IBRD-46620	Int Charges	384,223.75
Feb 15, 2014	IBRD-46620	Loan Repay	9,491,693.00
Feb 15, 2016	IBRD-46620	Loan Repay	333,770.10
Feb 15, 2016	IBRD-46620	Int Charges	333,770.10
Feb 15, 2016	IBRD-46620	Loan Repay	9,157,923.00
Aug 15, 2015	IBRD-46620	Int Charges	300,649.38
Aug 15, 2015	IBRD-46620	Loan Repay	9,191,044.00
Aug 15, 2015	IBRD-46620	Loan Repay	300,649.38
Aug 15, 2017	IBRD-46620	Int Charges	422,340.78
Aug 15, 2017	IBRD-46620	Loan Repay	422,340.78
Aug 15, 2017	IBRD-46620	Loan Repay	9,069,352.00
Feb 15, 2017	IBRD-46620	Loan Repay	465,725.75
Aug 15, 2016	IBRD-46620	Int Charges	409,798.60
Aug 15, 2016	IBRD-46620	Loan Repay	9,491,693.00
Feb 15, 2017	IBRD-46620	Loan Repay	9,025,967.00
Feb 15, 2017	IBRD-46620	Int Charges	465,725.75
Feb 15, 2019	IBRD-46620	Loan Repay	289,138.10
Feb 15, 2019	IBRD-46620	Int Charges	289,138.10
Feb 15, 2019	IBRD-46620	Loan Repay	9,202,555.00
Aug 15, 2018	IBRD-46620	Int Charges	359,347.60
Aug 15, 2018	IBRD-46620	Loan Repay	9,132,345.00
Aug 15, 2018	IBRD-46620	Loan Repay	359,347.60
Feb 15, 2018	IBRD-46620	Int Charges	368,699.56
Feb 15, 2018	IBRD-46620	Loan Repay	9,491,693.00
Aug 15, 2019	IBRD-46620	Loan Repay	9,491,639.00
Aug 15, 2019	IBRD-46620	Loan Repay	54.00
Aug 15, 2019	IBRD-46620	Int Charges	154,142.45
Aug 15, 2013	IBRD-46620	Loan Repay	9,491,693.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Procurement	Satisfactory	2012-08-24
Project Management	Satisfactory	2012-08-24
Financial Management	Satisfactory	2012-08-24
Overall Safeguards Rating	Satisfactory	2012-08-24
Progress towards achievement of PDO	Satisfactory	2012-08-24
Counterpart Funding	Satisfactory	2012-08-24
Monitoring and Evaluation	Satisfactory	2012-08-24
Overall	Low	2012-08-24
Overall Implementation Progress (IP)	Highly Satisfactory	2012-08-24
Overall Safeguards Rating	Satisfactory	2012-08-24

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 12-21-2012
Outcomes	Substantial
Risk to Development Outcome	Negligible
Bank Performance	Substantial
Borrower Performance	Substantial
Government Performance	Substantial
Implementing Agency	Substantial

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 06-11-2013	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome	Negligible To Low	N/a
Bank Performance	Satisfactory	N/a
Borrower Performance	Satisfactory	N/a
Government Performance	Satisfactory	N/a
Implementing Agency	Satisfactory	N/a
Icr Quality	Satisfactory	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Ensure conditions for effective implementation of the budget through payment process centralization	Value	0% of spending units covered by centralized paymen	Achieved. All SUs in country are now covered by ce	100% of the SUs in the country covered by centrali
	Date	January 1, 1997	June 30, 2012	June 30, 2012
	Comment			Achieved.

Timely presentation of fiscal accounts for external audit.	Value	Budget reports presented for external audit within	Achieved. Budget reports are presented for review	Budget reports presented for external audit within
	Date	January 1, 1997	June 30, 2012	June 30, 2012
	Comment			Achieved.

Training of adequate numbers of financial and technical staff to operate new system.	Value	Staff in the Treasury currently use a set of inter	Achieved. Training activities were completed satis	About 20,000 staff need to be trained in and be ab
	Date	January 1, 1997	June 30, 2012	June 30, 2012
	Comment			Achieved.

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Treasury single Account established at the NBR; SU bank accounts at commercial banks closed	Value	No TSA is operational at NBR; In-country SUs have	Achieved. TSA established atNBR; SU (in country)	TSA established at NBR; SU( incountry) bank accoun
	Date	January 1, 1997	June 30, 2012	June 30, 2012
	Comment			Achieved.

New management processes and expenditure controls for budget execution in place and functioning by July 1, 2007.	Value	Treasury based expenditure processing, which inclu	Achieved. Treasury basedexpenditure managementpr	Federal Treasury performing cash execution of the
	Date	January 1, 1997	June 30, 2012	June 30, 2012
	Comment			Achieved.

Revised budget classification system adopted and budget prepared according to new classification. First stage revisions 2003; finalized 2005.	Value	Changes in the budget classification system were i	Achieved. The new budgetclassification system has	The new budget classification system should be int
	Date	January 1, 1997	June 30, 2012	June 30, 2012
	Comment			Achieved.

Treasury ledger systems with required functionality implemented at 3 pilot oblasts and associated rayons by December 2006.	Value	At start of project a variety of custom developed	Achieved. New FTAS systemimplemented in 3 pilot r	FTAS implemented at three pilot oblasts and associ
	Date	January 1, 1997	December 31, 2009	December 31, 2009
	Comment			Completed with delay due to legislative changes introduced before the initiation of pilot testing.

Treasury ledger systems with required functionality rolled out to all oblasts and associated rayons	Value	Currently a variety of custom developed systems su	Achieved. FTAS rollout was successfully completed	New systems rolled out to all Oblasts and associat
	Date	January 1, 1997	September 5, 2011	June 30, 2012
	Comment			Achieved

Timely and reliable budget reports produced for MOF / Treasury / Budget Agencies by end of project	Value	Some budget reports are produced by various system	Achieved. All necessary reports arepresented thro	The new Treasury system should produce a complete
	Date	January 1, 1997	September 5, 2011	June 30, 2012
	Comment			Achieved