CO: Enhancing Fiscal Capacity to Promote Shared Prosperity DPL

Abstract*

The objective of the Enhancing Fiscal Capacity to Promote Shared Prosperity Development Policy Loan for Colombia is to support the Government of Colombia in improving fiscal, territorial, and gender equity through specific actions in targeted policy areas, while enhancing access to information and accountability in public spending. The main six main policy areas the Bank will be focusing are: (a) more equitable tax policy and administration; (b) inter-regional... Show More

Development Objective

To support the Government of Colombia in improving fiscal, territorial, and gender equity through specific actions in targeted policy areas, while enhancing access to information and accountability in public spending.

Key Details

Project Details

Project ID
P145605
Status
Closed
Team Leader
Carlos Rodriguez Castelan
Borrower 2
Ministry of Finance and Public Credit

Country
Colombia
Disclosure Date
May 21, 2013
Approval Date
(as of board presentation)
September 6, 2013
Effective Date
September 9, 2013

Total Project Cost 1
US$ 600.00 million
Implementing Agency
Departamento Nacional de Planeacion,Ministry of Finance and Public Credit
Region
Latin America and Caribbean
Fiscal Year 3
2014

Commitment Amount
US$ 600.00 million
Environmental Category
N/A
Last Update Date
September 9, 2015
Closing Date
December 31, 2014

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 - Economic Policy

FY17 - Fiscal Policy22%
- FY17 - Tax policy22%

FY17 - Human Development and Gender

FY17 - Gender14%

FY17 - Private Sector Development

FY17 - Jobs4%
- FY17 - Job Creation4%

FY17 - Public Sector Management

FY17 - Data Development and Capacity Building4%
- FY17 - Data production, accessibility and use4%
FY17 - Public Administration7%
- FY17 - Transparency, Accountability and Good Governance7%
FY17 - Public Finance Management28%
- FY17 - Domestic Revenue Administration22%
- FY17 - Public Expenditure Management7%

FY17 - Social Development and Protection

FY17 - Social Inclusion4%
- FY17 - Other Excluded Groups4%
FY17 - Social Protection19%
- FY17 - Social Insurance and Pensions15%
- FY17 - Social Safety Nets4%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	600.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	600.00
IDA Commitment	N/A
IBRD + IDA Commitment	600.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	600.00

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$)
Jun 15, 2024	IBRD-82870	Int Charges	8,190,000.00
Jun 15, 2017	IBRD-82870	Int Charges	6,976,666.50
Jun 15, 2023	IBRD-82870	Int Charges	8,190,000.00
Dec 15, 2023	IBRD-82870	Int Charges	8,190,000.00
Jun 15, 2022	IBRD-82870	Int Charges	8,190,000.00
Dec 15, 2021	IBRD-82870	Int Charges	8,190,000.00
Dec 15, 2022	IBRD-82870	Int Charges	8,190,000.00
Dec 15, 2020	IBRD-82870	Int Charges	8,190,000.00
Jun 15, 2021	IBRD-82870	Int Charges	8,190,000.00
Feb 13, 2020	IBRD-82870	Loan Disb	-600,000,000.00
Feb 13, 2020	IBRD-82870	Loan Disb	600,000,000.00
Dec 15, 2019	IBRD-82870	Int Charges	10,126,000.00
Jun 15, 2020	IBRD-82870	Int Charges	2,890,000.00
Jun 15, 2020	IBRD-82870	Int Charges	5,551,000.00
Dec 15, 2018	IBRD-82870	Int Charges	10,675,000.00
Jun 15, 2019	IBRD-82870	Int Charges	11,830,000.00
Dec 15, 2017	IBRD-82870	Int Charges	7,381,000.00
Jun 15, 2018	IBRD-82870	Int Charges	8,372,000.00
Dec 15, 2014	IBRD-82870	Int Charges	4,026,000.00
Jun 15, 2014	IBRD-82870	Int Charges	4,064,666.80
Sep 12, 2013	IBRD-82870	Loan Disb	600,000,000.00
Dec 15, 2013	IBRD-82870	Int Charges	2,177,666.80
Sep 9, 2013	IBRD-82870	Fee Charges	1,500,000.00
Jun 15, 2015	IBRD-82870	Int Charges	4,064,666.80
Dec 15, 2015	IBRD-82870	Int Charges	4,392,000.00
Jun 15, 2016	IBRD-82870	Int Charges	5,337,500.00
Dec 15, 2016	IBRD-82870	Int Charges	5,917,000.00
Sep 6, 2013	IBRD-82870	Loan Commitment	600,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Satisfactory	2014-10-17
Overall Implementation Progress (IP)	Satisfactory	2014-10-17
Progress towards achievement of PDO	Satisfactory	2014-10-17
Monitoring and Evaluation	Satisfactory	2014-10-17

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 10-14-2015
Outcomes	Substantial
Risk to Development Outcome	Modest
Bank Performance	Substantial
Borrower Performance	Substantial
Government Performance	Substantial
Implementing Agency	Substantial

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 06-13-2016	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	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Total direct tax revenues paid by the top .4 percent of earners as a percentage of GDP	Value	0.23	0.00	0.28
	Date	December 31, 2012	September 26, 2014	December 31, 2014
	Comment		Due to the sensitive nature of the data supporting this indicator, the process of anonymization and recent personnel changes atboth Hacienda and DIAN, indicator information is not available to the team. However, while the indicator data is not currentlyavailable, it is expected that the supported reforms have moved this indicator towards the target. Management will be informed oncethe indicator data is confirmed in the coming weeks.

Percentage of information related to revenue collection with respect to the total amount of the National Budget that is published in the transparency portal on a daily basis	Value	0.00	100.00	80.00
	Date	December 31, 2012	June 30, 2014	December 31, 2014
	Comment		Since the information on budget execution has been used by the President during weekly Ministerial meetings, the request tocomplete the dashboard on revenue collection accelerated and has reached 100% to date.

Number of projects approved by OCAD and under contract that correspond to the new General System of Royalties	Value	0.00	4597.00	1500.00
	Date	December 31, 2012	November 6, 2013	December 31, 2014
	Comment		Of a total of 4,597 approved projects, 510 correspond to regional OCAD, 1,044 to Departamental OCAD, 2,817 to Municipal OCAD, 199of Science and Technology OCAD, and the remaining 27 to CORMAGDALENA and CORPORACIONES.

Share of eligible beneficiaries receiving the Colombia Mayor Program subsidy	Value	35.00	55.91	42.00
	Date	December 31, 2012	June 30, 2014	December 31, 2014
	Comment		The fiscal funds assigned to the Colombia Mayor Program have doubled between 2012 and 2014 (from 511,909 million of COP to 1.03billion of COP). The total number of beneficiaries at the end of June 2014 was 1,273,976 of a population of eligible beneficiariesof 2,278,722

Total budget assigned to finance provision of specific measures to protect women who are victims of gender violence (defined in Decree No. 2734) as a percentage of the National Current Expenditures	Value	0.00	0.01	0.01
	Date	December 31, 2012	August 31, 2014	December 31, 2014
	Comment		The budget assigned for financing provision of specific measures to protect women who are victims of gender violence by the socialtax on guns, ammunition and explosives in 2014 is 12,510 million COP (in comparison with a budget of 10,962 million for 2013. Thetotal national budget of 2014 is 203 billion COP. However, it is important to notice that the legal resolution by the Ministry ofHealth and Social Protection has not been released to date. Therefore, the assigned funds have not been disbursed due to accessissues by eligible recipients.

Endorsement of annual release of monetary and multidimensional poverty indicators and its corresponding micro-data by the Monetary Poverty Expert Committee and the Multidimensional Expert Committee	Value	0.00	1.00	1.00
	Date	December 31, 2012	March 13, 2014	December 31, 2014
	Comment		The meeting of the poverty committees to discuss the results of monetary poverty and multidimensional poverty was held in March13,2014. The official press release informing the indicators to the public was published on April 9, 2014.

Percentage of the information related to budget execution with respect to the total amount of the National Budget that is publishedin the transparency portal on a daily basis	Value	85.00	100.00	100.00
	Date	December 31, 2012	January 31, 2014	December 31, 2014
	Comment		100 percent of the information related to budget execution was achieved during December 2013. The information on budget executioncurrently has been disaggregated by regions. This dashboard can be consulted at http://www.pte.gov.co

Tax revenue from CREE as a percentage of GDP	Value	0.00	1.35	0.61
	Date	December 31, 2012	August 31, 2014	December 31, 2014
	Comment		The revised tax revenue of CREE as a percentage of GDP for 2013 was 0.42 with respect to 0.35 reported in the past ISR which wasbased on end of November numbers and preliminary estimations (both the CREE tax collection and the GDP). The current value of theindicator (as of Aug 2014) is 1.35. The preliminary estimation of tax revenue of CREE as a percentage of GDP for 2014 is 1.59according to the Ministry of Finance.