| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 300.00 |
First Programmatic Fiscal Sustainability and Growth Resilience Development Policy Loan
Abstract*
The development objective of the First Programmatic Fiscal Sustainability and Growth Resilience Development Policy Loan (DPL) Program for Colombia is to enhanced fiscal sustainability and strengthened resilience of economic growth. The Government of Colombia has requested a DPL for US$300 million. The DPL is the first of a series of two operations supporting the fiscal management program of the Government of Colombia in the context of increased commodities... Show More
Development Objective
Enhanced fiscal sustainability and strengthened resilience of economic growth. The programmatic DPL operation supports the long-term Country Partnership Strategy (CPS) outcome of improved fiscal, financial and social risk management under the 'inclusive growth with enhanced productivity' CPS theme.
Key Details
Project Details
P123267
Closed
Barbara Cunha
N/A
May 9, 2011
(as of board presentation)
July 21, 2011
November 10, 2011
US$ 300.00 million
N/A
2012
US$ 300.00 million
N/A
August 16, 2023
June 30, 2012
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 300.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 300.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 300.00 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Aug 15, 2013 | IBRD-80800 | Int Charges | 2,277,583.20 |
| Jul 21, 2011 | IBRD-80800 | Loan Commitment | 300,000,000.00 |
| Aug 15, 2014 | IBRD-80800 | Int Charges | 2,081,500.00 |
| Feb 15, 2015 | IBRD-80800 | Int Charges | 2,116,000.00 |
| Aug 15, 2015 | IBRD-80800 | Int Charges | 2,156,916.80 |
| Feb 15, 2016 | IBRD-80800 | Int Charges | 2,407,333.20 |
| Aug 15, 2016 | IBRD-80800 | Int Charges | 2,896,833.20 |
| Feb 15, 2017 | IBRD-80800 | Int Charges | 3,450,000.00 |
| Aug 15, 2017 | IBRD-80800 | Int Charges | 3,604,916.80 |
| Feb 15, 2018 | IBRD-80800 | Int Charges | 3,848,666.80 |
| Aug 15, 2018 | IBRD-80800 | Int Charges | 4,690,916.50 |
| Feb 15, 2019 | IBRD-80800 | Int Charges | 5,458,666.50 |
| Aug 15, 2019 | IBRD-80800 | Int Charges | 5,716,583.50 |
| Aug 15, 2019 | IBRD-80800 | Loan Disb | -300,000,000.00 |
| Aug 15, 2019 | IBRD-80800 | Loan Disb | 300,000,000.00 |
| Feb 15, 2020 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Aug 15, 2020 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Feb 15, 2021 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Aug 15, 2021 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Feb 15, 2022 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Aug 15, 2022 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Feb 15, 2023 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Aug 15, 2023 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Aug 15, 2024 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Feb 15, 2024 | IBRD-80800 | Int Charges | 4,755,000.00 |
| Feb 15, 2014 | IBRD-80800 | Int Charges | 2,223,333.20 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Highly Satisfactory | 2012-05-02 |
| Monitoring and Evaluation | Satisfactory | 2012-05-02 |
| Program Management | Satisfactory | 2012-05-02 |
| Overall Implementation Progress (IP) | Satisfactory | 2012-05-02 |
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 04-16-2014 |
|---|---|
| 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: 06-25-2015 | PROJECT PERFORMANCE ASSESSMENT REPORT: |
|---|---|---|
| Outcome Rating | Moderately Satisfactory | N/a |
| Risk To Development Outcome | Moderate | N/a |
| Bank Performance | Moderately 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 |
|---|
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Central Government non-oil, tax revenue as share of GDP Value 12.20 13.70 12.50 Date December 31, 2010 December 31, 2011 December 31, 2013 Comment Baseline was modified slightly from 12.1 to 12.2 percent of GDP in light of new data from the Ministry of Finance and Public Credit. On track. 2011 outcome is well above expected results for 2012 and the 2013 target. The Central Government overall fiscal deficit. Value 3.90 2.90 3.20 Date December 31, 2010 December 31, 2011 December 31, 2013 Comment On track. 2011 outcome is well below expected results for 2012 and the 2013 target. Publication of an annual evaluation report detailing the implementation of the medium-term debt management strategy. Value NA NA Report published. Date December 31, 2011 December 31, 2013 Comment The new debt strategy is expected to be finalized by end-2012. On track. The Ministry of Finance and Public Credit is making good progress in the development of a medium-term debt managementstrategy and the Bank (BDM) is supporting the Ministry in this process through technical assistance. The Public Credit departmentis strongly committed to this reform and is proceeding with rigorous analysis to ensure a strong final product. As a result, thefinalization of the debt strategy is taking somewhat longer than expected. However, the Ministry is on track for preparing a reportby the end-2013 that evaluates the degree to which the new Strategy is being implemented. Reimbursements to health insurance companies from FOSYGA for medical services (procedures and medicines) outside the Manadatory Benefit Package of the contributive regime (recurrent expenditure). Value COP 2,400 billion COP 2,103 billion COP 2,400 billion or lower Date December 31, 2010 December 31, 2011 December 31, 2013 Comment On track. 2011 outcome is well below the 2012 expected outcome and the 2013 target. Number of financial instruments implemented to mitigate national disaster risks. Value 0.00 0.00 3.00 Date December 31, 2010 December 31, 2011 December 31, 2013 Comment On track. Financial instruments are not expected to be implemented until 2013. Share of Payments in the National Budget System effectuated through the TSA. Value 80.00 80.00 90.00 Date December 31, 2010 December 31, 2011 December 31, 2013 Comment On track. The Ministry of Finance and Public Credit is making good progress in the reform process to expand the coverage and scopeof the Treasury Single Account (TSA). Agreement has been reached on the conceptual design for the enhanced TSA and implementingregulation of Law 1450 is under preparation and expected to be issued in the coming months. These two measures are proposed prioractions for DPL2. The Ministry's short-term strategy to expand the TSA coverage includes focusing on the public sector entitiesthat has the largest transaction amounts. It should be noted that the expected result for end-2012 is 80 percent, as per the DPL1results framework. Thus, the current coverage of 80 percent is fully in line with expectations.This indicator is not expected toincrease untilaround mid-2013.