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Public Finance and Social Sector Development Policy Loan

Abstract*

The objective of the Public Finance and Social Sector Development Policy Loan Program for Dominican Republic (DR) is to improve the quality and efficiency of public spending, especially for poverty reduction and human development. The DR is a middle income country on the eastern part of the Caribbean island of Hispaniola, which it shares with Haiti. With a population of 9.8 million and a land area of 48,700 sq km, it is on both dimensions the second...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

1. Improvement of the quality and efficiency of public spending, especially for poverty reduction and human development. a. Improvement of institutions for budgeting and expenditure management. b. Improvement of quality of health sector spending. c. Improvement of targeting of spending intended for the poor. 2. Mitigation of the impact of the ongoing global economic crisis on the DR's public finances and reduction of vulnerability to future shocks. i. Reduction of outlays for inefficient subsidies. 11. Improvement of cost recovery in the energy sector. a. Control of spending b. Improvement in the transparency of tax policies. c. Improvement of effectiveness of revenue collection by domestic and customs authorities.

Key Details

Project Details

  • P115145

  • Closed

  • Elizabeth Ruppert Bulmer

  • N/A

  • Dominican Republic

  • October 8, 2009

  • (as of board presentation)

    November 17, 2009

  • December 1, 2009

  • US$ 150.00 million

  • N/A

  • Not Applicable

  • December 31, 2010

  • BANK APPROVED

  • August 16, 2023

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 150.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 150.00
IDA Commitment N/A
IBRD + IDA Commitment 150.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 150.00

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$)
Nov 15, 2015 IBRD-77790 Int Charges 3,967,500.00
May 15, 2016 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2014 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2013 IBRD-77790 Int Charges 3,967,500.00
May 15, 2014 IBRD-77790 Int Charges 3,967,500.00
May 15, 2024 IBRD-77790 Int Charges 3,174,793.50
May 15, 2024 IBRD-77790 Loan Repay 9,990,000.00
Nov 17, 2009 IBRD-77790 Loan Commitment 150,000,000.00
May 15, 2023 IBRD-77790 Int Charges 3,703,264.50
May 15, 2023 IBRD-77790 Loan Repay 9,990,000.00
Nov 15, 2023 IBRD-77790 Loan Repay 9,990,000.00
Nov 15, 2023 IBRD-77790 Int Charges 3,439,029.00
Nov 15, 2021 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2022 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2022 IBRD-77790 Loan Repay 6,022,500.00
Nov 15, 2022 IBRD-77790 Loan Repay 3,967,500.00
May 15, 2021 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2020 IBRD-77790 Int Charges 3,967,500.00
May 15, 2022 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2019 IBRD-77790 Int Charges 3,967,500.00
May 15, 2020 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2018 IBRD-77790 Int Charges 3,967,500.00
May 15, 2018 IBRD-77790 Int Charges 3,967,500.00
May 15, 2019 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2016 IBRD-77790 Int Charges 3,967,500.00
May 15, 2017 IBRD-77790 Int Charges 3,967,500.00
Nov 15, 2017 IBRD-77790 Int Charges 3,967,500.00
May 15, 2015 IBRD-77790 Int Charges 3,967,500.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Monitoring and Evaluation Moderately Satisfactory 2011-02-26
Progress towards achievement of PDO Satisfactory 2011-02-26
Overall Implementation Progress (IP) Satisfactory 2011-02-26
Program Management Satisfactory 2011-02-26

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 06-24-2011
OutcomesModerately Satisfactory
Risk to Development OutcomeSubstantial
Bank PerformanceModerately Satisfactory
Borrower PerformanceModerately Satisfactory
Government PerformanceNot Applicable
Implementing AgencyNot Applicable

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 10-24-2011PROJECT PERFORMANCE ASSESSMENT REPORT: 06-27-2013
Outcome RatingModerately Satisfactory Moderately Satisfactory
Risk To Development OutcomeSignificantSignificant
Bank PerformanceModerately SatisfactoryModerately Satisfactory
Borrower PerformanceModerately SatisfactoryModerately Satisfactory
Government PerformanceModerately SatisfactoryModerately Satisfactory
Implementing AgencyModerately SatisfactoryNot Rated
Icr QualitySatisfactoryNot Rated
M&e QualitySubstantialModest

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Public Debt RatioValue36.9035.7040.00
    DateDecember 31, 2009December 31, 2010December 31, 2010
    CommentExcluding BCRD recapitalization bonds.Excluding BCRD recapitalization bonds
  • Elimination of electricity subsidy via the PRA mechanismValueabout 140,000close to 00
    DateDecember 31, 2009December 31, 2010December 31, 2010
    Commentfigures are expressed in number of households and not individuals (average hh size in DR is: 4.5)
  • Number of entitled beneficiaries of CCT will be close to number of PRA beneficiariesValue0.00140000.00100000.00
    DateDecember 31, 2009December 31, 2010December 31, 2010
    Commentfigures are expressed in number of households and not individuals (average hh size in DR is: 4.5)
  • "Fiscal sustainability is improved through a strategy to rationalize and restrain tax exemptions and improve tax administration"ValueNo strategyStrategy availableStrategy available
    DateDecember 31, 2009December 31, 2010December 31, 2010
    CommentStrategy was published on website of Min of Finance and was acknowledged in the review of the IMF SBA program
  • "Transfers from the Ministry of Finance to the CDEEE to cover the electricity sector deficit (% of GDP)"Value1.401.200.80
    DateDecember 31, 2009December 31, 2010December 31, 2010
    Commentthe 1.2 is an estimate the final value is not available yet;