Fiscal, Social and Financial Sector Development Policy Loan (DPL)

Abstract*

The objective of the Fiscal, Social, and Financial Sector Development Policy Loan (DPL) Program for Croatia is to support the authorities' efforts in addressing the adverse impact of the global crisis through: (i) strengthened public finance; (ii) strengthened social sector resilience and targeting; and (iii) enhanced efficiency and stability of the financial sector. The Croatian authorities have been managing the impact of the global crisis relatively... Show More

Development Objective

The objective of the DPL is to support the authorities' efforts in addressing the adverse impact of the global crisis through: (i) strengthened public finance; (ii) strengthened social sector resilience, and (iii) enhanced efficiency and stability of financial sector.

Key Details

Project Details

Project ID
P117665
Status
Closed
Team Leader
Sanja Madzarevic-Sujster
Borrower 2
N/A

Country
Croatia
Disclosure Date
October 1, 2009
Approval Date
(as of board presentation)
January 12, 2010
Effective Date
February 17, 2010

Total Project Cost 1
US$ 296.75 million
Implementing Agency
N/A
Region
Europe and Central Asia
Fiscal Year 3
2010

Commitment Amount
US$ 296.75 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
April 30, 2010

Last Stage Reached
BANK APPROVED
Last Update Date
March 4, 2021

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 Policy6%
- FY17 - Fiscal sustainability2%
- FY17 - Public Expenditure Policy2%
- FY17 - Tax policy2%
FY17 - Macro-financial policies6%
- FY17 - External Finance2%
- FY17 - Macroeconomic Resilience2%
- FY17 - Monetary and Credit Policies2%

FY17 - Human Development and Gender

FY17 - Health Systems and Policies11%
- FY17 - Health System Strengthening11%

FY17 - Private Sector Development

FY17 - Business Enabling Environment22%
- FY17 - Regulation and Competition Policy22%
FY17 - Jobs100%

FY17 - Public Sector Management

FY17 - Public Administration23%
- FY17 - Transparency, Accountability and Good Governance23%
FY17 - Public Finance Management23%
- FY17 - Public Expenditure Management23%

FY17 - Social Development and Protection

FY17 - Social Protection11%
- FY17 - Social Safety Nets11%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	296.75

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	296.75
IDA Commitment	N/A
IBRD + IDA Commitment	296.75

Lending Instrument
Grant Amount	N/A
Total Project Cost**	296.75

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

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Nov 15, 2016	IBRD-78460	Int Charges	979,421.25
May 15, 2020	IBRD-78460	Int Charges	710,424.40
May 15, 2016	IBRD-78460	Int Charges	1,181,570.80
Nov 15, 2017	IBRD-78460	Int Charges	944,600.80
May 15, 2021	IBRD-78460	Int Charges	657,817.40
Nov 15, 2020	IBRD-78460	Int Charges	1,123,497.90
Nov 15, 2023	IBRD-78460	Int Charges	5,198,294.50
May 15, 2017	IBRD-78460	Int Charges	926,557.10
May 15, 2014	IBRD-78460	Int Charges	1,799,072.10
May 15, 2022	IBRD-78460	Int Charges	522,285.56
May 15, 2018	IBRD-78460	Int Charges	886,831.60
May 15, 2015	IBRD-78460	Int Charges	1,370,713.00
Nov 15, 2021	IBRD-78460	Int Charges	608,684.25
Jan 12, 2010	IBRD-78460	Loan Commitment	296,750,016.00
Nov 15, 2015	IBRD-78460	Int Charges	1,213,219.40
May 15, 2019	IBRD-78460	Int Charges	810,590.40
Nov 15, 2018	IBRD-78460	Int Charges	844,238.50
Nov 15, 2019	IBRD-78460	Int Charges	834,547.30
Nov 15, 2013	IBRD-78460	Int Charges	1,718,419.50
May 15, 2023	IBRD-78460	Int Charges	3,653,940.50
Nov 15, 2014	IBRD-78460	Int Charges	1,831,977.60
May 15, 2024	IBRD-78460	Int Charges	5,625,873.00
Nov 15, 2022	IBRD-78460	Int Charges	894,043.75

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Satisfactory	2010-04-26
Progress towards achievement of PDO	Satisfactory	2010-04-26
Monitoring and Evaluation	Moderately Satisfactory	2010-04-26

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 09-08-2010
Outcomes	Substantial
Risk to Development Outcome	Substantial
Bank Performance	Substantial
Borrower Performance	Substantial
Government Performance	Substantial
Implementing Agency	Substantial

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 03-14-2011	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome	Significant	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	Not Rated	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

General Government wage bill reduced as a share of GDP. Value At 10.8% of GDP in the original 2009 budget At 10.2% of GDP in 2010 budget
Date November 23, 2009 November 23, 2009
Comment

Planned pension spending declining as a share of GDP and a share spent on privileged pensions constant in 2010.	Value	Pension spending at 10.2% of GDP in the third 2009	Pension spending at 10% of GDP in the 2010 budget
	Date	November 23, 2009	November 23, 2009
	Comment

General Government investments reduced as a share of GDP Value At 5.2% of GDP in original 2009 budget. At 4.0% of GDP in the 2010 budget.
Date November 23, 2009 November 23, 2009
Comment
Total health sector arrears reduced in 2009 and 2010. Value HRK3.8 billion (1.1% of GDP) (end-2008) HRK3.4 billion (1.0% of GDP) (End 2009) and furthe
Date November 23, 2009 November 23, 2009
Comment

The 2010-2012 rolling budget consistent with the medium-term fiscal framework as measured by general government expenditures as a share of projected GDP.	Value	At 41.7% of GDP in the 2009 third budget revision	At 40.3% of GDP in the 2010 budget
	Date	November 23, 2009	November 23, 2009
	Comment

EU assessment of legislative alignment of public procurement system.	Value	The 2008 EU assessment found that further efforts	The EU assessment finding that legislative alignme
	Date	November 23, 2009	November 23, 2009
	Comment

Adequate budget for unemployment benefits and means-tested social support allowance maintained.	Value	Spending on unemployment benefits and means-tested	No arrears.
	Date	November 23, 2009	November 23, 2009
	Comment

Testing of interagency coordination on financial crisis preparedness and management.	Value	Non-formalized multilateral cooperation (at end-20	MoU in place and coordination tested on several ca
	Date	November 23, 2009	November 23, 2009
	Comment

Capital adequacy ratio increased. Value At 15.2% at end-2008. Around 16% by end-2009.
Date November 23, 2009 November 23, 2009
Comment

Audit reports of investment firms containing detailed risk exposures.	Value	No risk exposure information disclosed in the audi	All audit reports of investment firms for 2009 con
	Date	November 23, 2009	November 23, 2009
	Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

No intermediate outcome indicators. Value
Date
Comment

General Government wage bill reduced as a share of GDP.	Value	At 10.8% of GDP in the original 2009 budget	At 10.2% of GDP in 2010 budget
	Date	November 23, 2009	November 23, 2009
	Comment

General Government investments reduced as a share of GDP	Value	At 5.2% of GDP in original 2009 budget.	At 4.0% of GDP in the 2010 budget.
	Date	November 23, 2009	November 23, 2009
	Comment

Total health sector arrears reduced in 2009 and 2010.	Value	HRK3.8 billion (1.1% of GDP) (end-2008)	HRK3.4 billion (1.0% of GDP) (End 2009) and furthe
	Date	November 23, 2009	November 23, 2009
	Comment

Capital adequacy ratio increased.	Value	At 15.2% at end-2008.	Around 16% by end-2009.
	Date	November 23, 2009	November 23, 2009
	Comment

No intermediate outcome indicators.	Value
	Date
	Comment