Public Expenditure and Fiscal Risk Management DPF-DDO

Abstract*

The Development Policy Financing with a Deferred Drawdown Option (DPFDDO) in the amount of US$1.25 billion aims to support the Government of Peru (GoP) in their efforts to improve public expenditure and fiscal risk management. Against the backdrop of a less favorable external environment the GoP embarked upon the implementation of structural reforms to boost human capital and productivity, and to promote fiscal effectiveness and responsibility. Within... Show More

Development Objective

The proposed operation aims at supporting the Government of Peru's efforts to improve: (i) the management and reporting of public expenditures in subnational governments (SNGs), and (ii) the Government's legal and institutional framework for public-private partnerships (PPPs).

Key Details

Project Details

Project ID
P154981
Status
Closed
Team Leader
Kjetil Hansen
Borrower 2
Republic of Peru

Country
Peru
Disclosure Date
September 3, 2015
Approval Date
(as of board presentation)
February 11, 2016
Effective Date
April 28, 2016

Total Project Cost 1
US$ 1250.00 million
Implementing Agency
Ministerio de Economía y Finanzas
Region
Latin America and Caribbean
Fiscal Year 3
2016

Commitment Amount
US$ 1250.00 million
Environmental Category
N/A
Environmental and Social Risk
Not Applicable
Closing Date
September 30, 2020

Last Stage Reached
BANK APPROVED
Last Update Date
September 12, 2023

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 - Public Sector Management

FY17 - Public Administration75%
- FY17 - Municipal Institution Building50%
- FY17 - Transparency, Accountability and Good Governance25%
FY17 - Public Finance Management25%
- FY17 - Public Expenditure Management25%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	1250.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	1250.00
IDA Commitment	N/A
IBRD + IDA Commitment	1250.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	1250.00

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$)
Apr 15, 2019	IBRD-85850	Int Charges	168,896.34
Apr 15, 2019	IBRD-85850	Int Charges	2,947,542.00
Oct 15, 2019	IBRD-85850	Int Charges	3,133,561.80
Jun 23, 2016	IBRD-85850	Fee Charges	3,125,000.00
Oct 15, 2016	IBRD-85850	Int Charges	2,903,005.50
Apr 15, 2017	IBRD-85850	Int Charges	3,112,789.20
Oct 15, 2017	IBRD-85850	Int Charges	3,133,561.80
Apr 15, 2018	IBRD-85850	Int Charges	3,116,438.20
Oct 15, 2018	IBRD-85850	Int Charges	3,133,561.80
Feb 11, 2016	IBRD-85850	Loan Commitment	1,250,000,000.00
Apr 15, 2024	IBRD-85850	Int Charges	30,475,924.00
Apr 15, 2024	IBRD-85850	Int Charges	352,271.90
Apr 15, 2024	IBRD-85850	Loan Repay	78,125,000.00
Oct 15, 2023	IBRD-85850	Int Charges	577,281.25
Oct 15, 2023	IBRD-85850	Int Charges	30,345,652.00
Oct 15, 2023	IBRD-85850	Loan Repay	78,125,000.00
Apr 15, 2023	IBRD-85850	Int Charges	1,198,541.00
Apr 15, 2023	IBRD-85850	Int Charges	26,466,484.00
Apr 15, 2023	IBRD-85850	Loan Repay	78,125,000.00
Oct 15, 2022	IBRD-85850	Int Charges	15,527,484.00
Oct 15, 2022	IBRD-85850	Loan Repay	78,125,000.00
Apr 15, 2022	IBRD-85850	Int Charges	4,992,361.00
Apr 15, 2022	IBRD-85850	Loan Repay	78,125,000.00
Oct 15, 2021	IBRD-85850	Int Charges	5,401,041.50
Apr 15, 2021	IBRD-85850	Int Charges	956,284.20
Apr 15, 2021	IBRD-85850	Int Charges	5,371,528.00
Apr 15, 2021	IBRD-85850	Int Charges	2,602,049.20
Apr 15, 2020	IBRD-85850	Int Charges	3,128,649.20
Oct 15, 2020	IBRD-85850	Int Charges	2,168,715.80
Aug 20, 2020	IBRD-85850	Loan Disb	1,250,000,000.00
Aug 20, 2020	IBRD-85850	Loan Disb	-1,250,000,000.00
Aug 20, 2020	IBRD-85850	Loan Disb	1,250,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Satisfactory	2020-06-25
Progress towards achievement of PDO	Satisfactory	2020-06-25
Monitoring and Evaluation	Satisfactory	2020-06-25
Overall Implementation Progress (IP)	Satisfactory	2020-06-25

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 01-25-2022
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 08-22-2023	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality		N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Percentage of regional governments (RGs) and local governments (LGs) in compliance with fiscal rules for SNGs	Value	50% of RGs (representing 66.3% of RGs total revenu	73% of RGs and 93% of LGs complied with both fisca	65% of RGs and 70% of LGs met fiscal rules or thei
	Date	December 31, 2014	November 13, 2019	December 31, 2017
	Comment

Percentage of PPP promoters (spending units) at all levels of government that issue the Multiannual Report on PPP Investment on a yearly basis	Value	0.00	100.00	100.00
	Date	December 31, 2014	November 13, 2019	December 31, 2017
	Comment

Percentage of RGs and LGs that submitted the Multiannual Report of Fiscal Management in compliance with reporting obligations (gradual reporting obligation through a six year period; 2015-2020)	Value	100% of RGs submit the Multiannual Report of Fisca	RGs and LGs are no longer required to submit the M	100% of RGs submit the Multiannual Report of Fisca
	Date	December 31, 2015	November 13, 2019	December 31, 2017
	Comment

Number of unsolicited proposals presented for evaluation Value 147.00 32.00 88.00
Date December 31, 2015 November 13, 2019 December 31, 2017
Comment

Number of managerial positions covered by professional public managers (Directivos Publicos) as a percentage of total managerial positions in RGs	Value	0.00	14.00	77.00
	Date	December 31, 2014	November 10, 2021	December 31, 2017
	Comment

Number of PPP contracts without MEF's favorable opnion prior to the tender process at all levels of government Value 17.00 0.00 0.00
Date December 31, 2014 November 13, 2019 December 31, 2017
Comment

Number of unsolicited proposals presented for evaluation	Value	147.00	32.00	88.00
	Date	December 31, 2015	November 13, 2019	December 31, 2017
	Comment

Number of PPP contracts without MEF's favorable opnion prior to the tender process at all levels of government	Value	17.00	0.00	0.00
	Date	December 31, 2014	November 13, 2019	December 31, 2017
	Comment