2nd Fiscal Effectiveness and Growth DPL

Abstract*

The development objective of the Second Fiscal Effectiveness and Growth Development Policy Project for Romania is supports government reforms to: (a) strengthen fiscal management and the performance of state‐owned enterprises (SOEs) (b) improve the functioning of energy, property, and capital markets. This Fiscal Effectiveness and Growth Development Policy Loan (FEG‐DPL_ series was designed in close collaboration with the government, the European... Show More

Development Objective

The proposed Development Policy Loan (DPL) series supports government reforms to: (a) strengthen fiscal management and the performance of state-owned enterprises (SOEs) (b) improve the functioning of energy, property, and capital markets

Key Details

Project Details

Project ID
P149776
Status
Closed
Team Leader
Doerte Doemeland , Catalin Pauna
Borrower 2
Ministry of Public Finance

Country
Romania
Disclosure Date
August 31, 2015
Approval Date
(as of board presentation)
December 15, 2016
Effective Date
May 31, 2017

Total Project Cost 1
US$ 558.27 million
Implementing Agency
Ministry of Public Finance
Region
Europe and Central Asia
Fiscal Year 3
2017

Commitment Amount
US$ 558.27 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2017

Last Stage Reached
BANK APPROVED
Parent Projects
P148957
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 - Environment and Natural Resource Management

FY17 - Climate change9%
- FY17 - Mitigation9%
FY17 - Energy18%
- FY17 - Energy Policies & Reform18%

FY17 - Finance

FY17 - Financial Stability9%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring9%

FY17 - Human Development and Gender

FY17 - Health Systems and Policies9%
- FY17 - Health System Strengthening9%

FY17 - Public Sector Management

FY17 - Public Administration27%
- FY17 - State-owned Enterprise Reform and Privatization18%
- FY17 - Transparency, Accountability and Good Governance9%
FY17 - Public Finance Management27%
- FY17 - Debt Management9%
- FY17 - Public Expenditure Management18%

FY17 - Social Development and Protection

FY17 - Social Protection9%
- FY17 - Social protection delivery systems9%

FY17 - Urban and Rural Development

FY17 - Rural Development9%
- FY17 - Land Administration and Management9%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	558.27

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	558.27
IDA Commitment	N/A
IBRD + IDA Commitment	558.27

Lending Instrument
Grant Amount	N/A
Total Project Cost**	558.27

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Oct 15, 2022	IBRD-86650	Int Charges	7,471,612.50
Apr 15, 2023	IBRD-86650	Int Charges	8,487,399.00
Oct 15, 2023	IBRD-86650	Int Charges	8,072,565.00
Oct 15, 2020	IBRD-86650	Int Charges	8,993,565.00
Apr 15, 2021	IBRD-86650	Int Charges	9,182,754.00
Oct 15, 2021	IBRD-86650	Int Charges	8,911,826.00
Apr 15, 2022	IBRD-86650	Int Charges	8,295,907.50
Oct 15, 2018	IBRD-86650	Int Charges	8,901,465.00
Apr 15, 2018	IBRD-86650	Int Charges	1,208,509.80
Oct 15, 2019	IBRD-86650	Int Charges	8,454,780.00
Apr 15, 2020	IBRD-86650	Int Charges	8,371,890.00
Oct 15, 2017	IBRD-86650	Int Charges	785,700.00
Jul 28, 2017	IBRD-86650	Fee Charges	1,463,250.00
Sep 22, 2017	IBRD-86650	Loan Disb	-598,275,010.00
Sep 22, 2017	IBRD-86650	Loan Disb	598,275,010.00
Aug 31, 2017	IBRD-86650	Loan Disb	593,049,980.00
Apr 15, 2018	IBRD-86650	Int Charges	9,457,902.00
Apr 15, 2018	IBRD-86650	Int Charges	189,909.27
Apr 15, 2018	IBRD-86650	Int Charges	284,526.25
Dec 15, 2016	IBRD-86650	Loan Commitment	558,270,020.00
Apr 15, 2024	IBRD-86650	Int Charges	8,179,247.50
Apr 15, 2019	IBRD-86650	Int Charges	8,681,192.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Moderately Unsatisfactory	2018-12-14
Progress towards achievement of PDO	Moderately Unsatisfactory	2018-12-14
Program Management	Moderately Satisfactory	2018-12-14
Monitoring and Evaluation	Moderately Satisfactory	2018-12-14

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 01-14-2019
Outcomes	Moderately Unsatisfactory
Risk to Development Outcome	Substantial
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Unsatisfactory
Government Performance	Moderately Unsatisfactory
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 05-08-2020	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Unsatisfactory	N/a
Risk To Development Outcome	Substantial	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Unsatisfactory	N/a
Government Performance	Moderately Unsatisfactory	N/a
Implementing Agency	Moderately Satisfactory	N/a
Icr Quality	High	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

The number of SOEs with professional Board and management appointed Value 25.00 32.00 80.00
Date December 31, 2013 December 29, 2017 December 29, 2017
Comment
The average unit price for centrally procured drugs and devices Value 22.2 20 20.0
Date December 31, 2015 December 29, 2017 December 29, 2017
Comment
Coverage of urban real state registration Value 39.00 57.30 57.00
Date December 31, 2013 December 29, 2017 December 29, 2017
Comment
International trade in electricity, exports plus imports (TWh) Value 2.6 9.3 4
Date December 31, 2012 December 29, 2017 December 29, 2017
Comment
The number of the MOPF's liability management operations Value 0.00 0.00 3.00
Date December 31, 2013 June 29, 2018 December 29, 2017
Comment
The budget allocated to the portofolio of significant public investment projects monitored by MOPF (in billion RON) Value 5.7 9.0 6.1
Date December 31, 2014 December 29, 2017 December 29, 2017
Comment
The budget allocated to means-tested social assistance programs (in billion RON) Value 1.2 1.8
Date December 31, 2014 December 28, 2018 December 31, 2018
Comment
Number of benchmarks of the secondary emerging market index Value 4.00 8.00 8.00
Date December 31, 2013 December 29, 2017 December 29, 2017
Comment
Amount of natural gas traded at centralized platforms (billion cubic meter) Value 0 5.9 2
Date December 31, 2013 December 29, 2017 December 29, 2017
Comment
Energy sector greenhouse gas (GHG) emissions (million tons) Value 86.5 75.4 80
Date December 31, 2012 December 30, 2016 December 29, 2017
Comment

The number of SOEs with professional Board and management appointed	Value	25.00	32.00	80.00
	Date	December 31, 2013	December 29, 2017	December 29, 2017
	Comment

The average unit price for centrally procured drugs and devices	Value	22.2	20	20.0
	Date	December 31, 2015	December 29, 2017	December 29, 2017
	Comment

Coverage of urban real state registration	Value	39.00	57.30	57.00
	Date	December 31, 2013	December 29, 2017	December 29, 2017
	Comment

The number of the MOPF's liability management operations	Value	0.00	0.00	3.00
	Date	December 31, 2013	June 29, 2018	December 29, 2017
	Comment

Number of benchmarks of the secondary emerging market index	Value	4.00	8.00	8.00
	Date	December 31, 2013	December 29, 2017	December 29, 2017
	Comment

Energy sector greenhouse gas (GHG) emissions (million tons)	Value	86.5	75.4	80
	Date	December 31, 2012	December 30, 2016	December 29, 2017
	Comment

The budget allocated to the portofolio of significant public investment projects monitored by MOPF (in billion RON)	Value	5.7	9.0	6.1
	Date	December 31, 2014	December 29, 2017	December 29, 2017
	Comment

The budget allocated to means-tested social assistance programs (in billion RON)	Value	1.2		1.8
	Date	December 31, 2014	December 28, 2018	December 31, 2018
	Comment