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Iraq: Banking Sector Reform

Development Objective

The Project Development Objective is to strengthen the supervisory framework for financial intermediation and to build capacity of financial institutions to support implementation of Phase I of the Iraq Banking Reform Strategy.

Key Details

Project Details

  • P113337

  • Closed

  • Sahar Ahmed Nasr

  • N/A

  • Iraq

  • April 16, 2009

  • (as of board presentation)

    April 14, 2009

  • April 17, 2009

  • US$ 10.00 million

  • C

  • Not Applicable

  • June 30, 2013

  • BANK APPROVED

  • January 15, 2013

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
Iraq Reconstruction Trust Fund 10.00

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 10.00
Total Project Cost** 10.00

Summary Status of World Bank Financing (US$ Millions) as of June 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of June 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Counterpart Funding Satisfactory 2013-06-24
Project Management Satisfactory 2013-06-24
Financial Management Satisfactory 2013-06-24
Monitoring and Evaluation Satisfactory 2013-06-24
Overall Implementation Progress (IP) Moderately Satisfactory 2013-06-24
Progress towards achievement of PDO Moderately Satisfactory 2013-06-24
Procurement Satisfactory 2013-06-24

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 12-23-2013
Outcomes
Risk to Development OutcomeSubstantial
Bank Performance
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 02-09-2015PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Satisfactory N/a
Risk To Development OutcomeHighN/a
Bank PerformanceSatisfactoryN/a
Borrower PerformanceModerately SatisfactoryN/a
Government PerformanceModerately UnsatisfactoryN/a
Implementing AgencyModerately SatisfactoryN/a
Icr QualitySatisfactoryN/a
M&e QualityModestN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • New organizational structures for the two state-owned banks are adoptedValueNoYesYes
    DateApril 14, 2009May 1, 2013June 30, 2013
    Comment
  • Number of staff trained in each bank would reach at least 100 staff member.Value0.00682.00200.00
    DateApril 14, 2009May 1, 2013June 30, 2013
    Comment
  • State-own commercial bank’s improved their capital adequacy ratio (reserves-to-NPLs ratios)Value0.0020.0020.00
    DateApril 14, 2009May 1, 2013June 30, 2013
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Improvement in functioning of the two state-owned commercial banks, evident in the increase in loan-to-GDP ratios from 4% in June 2006 to 6% in October 2010.Value0.0016.756.20
    DateApril 14, 2009May 1, 2013June 30, 2013
    Comment
  • Build-up in provision levels at the two state-owned commercial banks for new loans, reflected in the reserves-to-NPLs ratios, rising from 10% in June 2006 to 20% in October 2010.Value0.0020.0030.00
    DateApril 14, 2009May 1, 2013June 30, 2013
    Comment
  • Capital adequacy ratio in line with prudential regulations, reaching up to 4% by October 2010.Value0.004.004.00
    DateApril 14, 2009May 1, 2013June 30, 2013
    Comment
  • Recruitment of qualified staff capable of effectively managing the project. Capacity building granted to the Executive Steering Committee, supporting the reform program. Efficient and smooth executionValueNoYesYes
    DateApril 14, 2009December 9, 2012October 31, 2010
    CommentPMU is equiped with 4 qualified staff members, who are supporting the implementation of the program.