BOOSTING HUMAN CAPITAL AND PRODUCTIVITY DEVELOPMENT POLICY FINANCING WITH A DEFERRED DRAWDOWN OPTION

Abstract*

The Boosting Human Capital and Productivity Development Policy Financing with a Deferred Drawdown Option (DPF-DDO) aim to support Peru efforts to foster productivity growth under a more challenging external environment. Lower export demand, including from China, worsening terms of trade, and the prospects of higher borrowing costs are affecting a large number of emerging economies. In this context, a larger portion of economic growth in Peru will... Show More

Development Objective

The objectives of the DPF-DDO are to support Peru’s efforts to boost human capital and productivity by: (i) enhancing the education policy framework to enable better quality of skills, (ii) facilitating the entry, operation, and exit of firms; and (iii) reducing transaction costs in trade.

Key Details

Project Details

Project ID
P156858
Status
Closed
Team Leader
Daniel Barco Rondan , Bledi Celiku
Borrower 2
Ministerio de Economia y Finanzas

Country
Peru
Disclosure Date
September 10, 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 Economia 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
August 16, 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 - Economic Policy

FY17 - Trade20%
- FY17 - Trade Facilitation20%

FY17 - Human Development and Gender

FY17 - Education42%
- FY17 - Access to Education18%
- FY17 - Education Financing15%
- FY17 - Science and Technology3%
- FY17 - Standards, Curriculum and Textbooks3%
- FY17 - Teachers3%

FY17 - Private Sector Development

FY17 - Business Enabling Environment40%
- FY17 - Regulation and Competition Policy40%

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$)
Oct 15, 2023	IBRD-85830	Int Charges	269,853.44
Oct 15, 2023	IBRD-85830	Int Charges	7,527,961.00
Oct 15, 2023	IBRD-85830	Int Charges	2,643,341.50
Oct 15, 2023	IBRD-85830	Int Charges	3,064,129.50
Oct 15, 2023	IBRD-85830	Int Charges	3,398,456.20
Oct 15, 2023	IBRD-85830	Int Charges	14,185,251.00
Oct 15, 2023	IBRD-85830	Loan Repay	15,000,000.00
Oct 15, 2023	IBRD-85830	Loan Repay	19,290,000.00
Oct 15, 2023	IBRD-85830	Loan Repay	36,519,984.00
Apr 15, 2023	IBRD-85830	Loan Repay	15,000,000.00
Apr 15, 2023	IBRD-85830	Loan Repay	19,290,000.00
Apr 15, 2023	IBRD-85830	Loan Repay	36,519,984.00
Apr 15, 2023	IBRD-85830	Int Charges	3,198,470.20
Apr 15, 2023	IBRD-85830	Int Charges	12,371,911.00
Apr 15, 2023	IBRD-85830	Int Charges	164,366.94
Apr 15, 2023	IBRD-85830	Int Charges	127,844.37
Apr 15, 2023	IBRD-85830	Int Charges	560,264.94
Apr 15, 2023	IBRD-85830	Int Charges	6,131,260.50
Apr 15, 2023	IBRD-85830	Int Charges	2,495,626.00
Apr 15, 2023	IBRD-85830	Int Charges	2,487,699.00
Apr 15, 2023	IBRD-85830	Int Charges	251,270.70
Apr 15, 2023	IBRD-85830	Int Charges	102,275.49
Oct 15, 2022	IBRD-85830	Int Charges	3,442,623.80
Oct 15, 2022	IBRD-85830	Int Charges	1,401,262.00
Oct 15, 2022	IBRD-85830	Int Charges	1,592,723.20
Oct 15, 2022	IBRD-85830	Int Charges	2,047,732.50
Oct 15, 2022	IBRD-85830	Int Charges	7,258,412.50
Oct 15, 2022	IBRD-85830	Loan Repay	20,000,000.00
Oct 15, 2022	IBRD-85830	Loan Repay	25,710,000.00
Oct 15, 2022	IBRD-85830	Loan Repay	36,519,984.00
Apr 15, 2022	IBRD-85830	Int Charges	475,222.22
Apr 15, 2022	IBRD-85830	Int Charges	488,366.66
Apr 15, 2022	IBRD-85830	Loan Repay	19,290,000.00
Apr 15, 2022	IBRD-85830	Int Charges	2,333,708.20
Apr 15, 2022	IBRD-85830	Loan Repay	15,000,000.00
Apr 15, 2022	IBRD-85830	Loan Repay	36,519,984.00
Oct 15, 2021	IBRD-85830	Int Charges	508,333.30
Oct 15, 2021	IBRD-85830	Int Charges	533,750.00
Oct 15, 2021	IBRD-85830	Int Charges	686,250.00
Oct 15, 2016	IBRD-85830	Int Charges	2,903,005.50
Apr 15, 2017	IBRD-85830	Int Charges	3,112,789.20
Oct 15, 2017	IBRD-85830	Int Charges	3,133,561.80
Apr 15, 2018	IBRD-85830	Int Charges	3,116,438.20
Feb 13, 2019	IBRD-85830	Loan Disb	100,000,000.00
Feb 13, 2019	IBRD-85830	Loan Disb	-100,000,000.00
Feb 13, 2019	IBRD-85830	Loan Disb	100,000,000.00
Dec 21, 2018	IBRD-85830	Loan Disb	-245,680,240.00
Dec 21, 2018	IBRD-85830	Loan Disb	245,680,240.00
Dec 21, 2018	IBRD-85830	Loan Disb	245,680,240.00
Oct 15, 2018	IBRD-85830	Int Charges	3,133,561.80
Apr 15, 2019	IBRD-85830	Int Charges	2,645,846.20
Apr 15, 2019	IBRD-85830	Int Charges	2,534,942.50
Feb 11, 2016	IBRD-85830	Loan Commitment	1,250,000,000.00
Apr 15, 2024	IBRD-85830	Int Charges	8,173,819.50
Apr 15, 2024	IBRD-85830	Int Charges	3,327,015.20
Apr 15, 2024	IBRD-85830	Int Charges	2,399,949.00
Apr 15, 2024	IBRD-85830	Int Charges	14,246,148.00
Apr 15, 2024	IBRD-85830	Int Charges	3,085,374.50
Apr 15, 2024	IBRD-85830	Loan Repay	15,000,000.00
Apr 15, 2024	IBRD-85830	Loan Repay	19,290,000.00
Apr 15, 2024	IBRD-85830	Loan Repay	36,519,984.00
Apr 15, 2024	IBRD-85830	Int Charges	85,214.76
Apr 15, 2024	IBRD-85830	Int Charges	34,685.23
Apr 15, 2024	IBRD-85830	Int Charges	31,216.71
Apr 15, 2024	IBRD-85830	Int Charges	40,134.29
Apr 15, 2024	IBRD-85830	Int Charges	164,671.55
Oct 15, 2023	IBRD-85830	Int Charges	129,670.03
Oct 15, 2023	IBRD-85830	Int Charges	52,779.99
Oct 15, 2023	IBRD-85830	Int Charges	55,419.01
Oct 15, 2023	IBRD-85830	Int Charges	71,253.00
Oct 15, 2021	IBRD-85830	Int Charges	2,524,748.20
Oct 15, 2021	IBRD-85830	Int Charges	1,248,874.60
Apr 15, 2022	IBRD-85830	Int Charges	627,900.00
Apr 15, 2022	IBRD-85830	Int Charges	1,167,527.10
Apr 15, 2021	IBRD-85830	Int Charges	505,555.56
Apr 15, 2021	IBRD-85830	Int Charges	530,833.30
Apr 15, 2021	IBRD-85830	Int Charges	447,020.60
Apr 15, 2021	IBRD-85830	Int Charges	1,216,343.00
Apr 15, 2021	IBRD-85830	Int Charges	1,242,050.10
Apr 15, 2021	IBRD-85830	Int Charges	682,500.00
Apr 15, 2021	IBRD-85830	Int Charges	2,510,951.80
Apr 15, 2020	IBRD-85830	Int Charges	-160,066.67
Apr 15, 2020	IBRD-85830	Int Charges	160,066.67
Apr 15, 2020	IBRD-85830	Int Charges	23,013.71
Aug 20, 2020	IBRD-85830	Loan Disb	584,319,740.00
Oct 15, 2020	IBRD-85830	Int Charges	1,224,066.60
Oct 15, 2020	IBRD-85830	Int Charges	1,573,800.00
Oct 15, 2020	IBRD-85830	Int Charges	1,013,778.80
Oct 15, 2020	IBRD-85830	Int Charges	2,460,283.00
Oct 15, 2020	IBRD-85830	Int Charges	1,001,416.70
Aug 20, 2020	IBRD-85830	Loan Disb	-584,319,740.00
Aug 20, 2020	IBRD-85830	Loan Disb	584,319,740.00
Apr 15, 2019	IBRD-85830	Int Charges	532,055.56
Oct 15, 2019	IBRD-85830	Int Charges	2,243,979.80
Oct 15, 2019	IBRD-85830	Int Charges	4,338,918.00
Oct 3, 2019	IBRD-85830	Loan Disb	-140,000,000.00
Oct 3, 2019	IBRD-85830	Loan Disb	140,000,000.00
Oct 15, 2019	IBRD-85830	Int Charges	1,760,527.80
Oct 3, 2019	IBRD-85830	Loan Disb	140,000,000.00
Dec 12, 2019	IBRD-85830	Loan Disb	180,000,000.00
Dec 12, 2019	IBRD-85830	Loan Disb	-180,000,000.00
Dec 12, 2019	IBRD-85830	Loan Disb	180,000,000.00
Apr 15, 2020	IBRD-85830	Int Charges	1,543,750.00
Apr 15, 2020	IBRD-85830	Int Charges	137,052.95
Apr 15, 2020	IBRD-85830	Int Charges	1,445,452.20
Apr 15, 2020	IBRD-85830	Int Charges	3,396,938.80
Apr 15, 2020	IBRD-85830	Int Charges	1,382,666.60
Apr 15, 2020	IBRD-85830	Int Charges	1,903,416.60
Jun 23, 2016	IBRD-85830	Fee Charges	3,125,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Moderately Satisfactory	2020-08-06
Program Management	Satisfactory	2020-08-06
Progress towards achievement of PDO	Satisfactory	2020-08-06
Monitoring and Evaluation	Satisfactory	2020-08-06

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 11-30-2021
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW:	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	Not Rated	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

UPDATED TARGET: Increase the share of programmed merit-based promotions and appointments for teachers and school principals within the Teaching Career outside Lima and Callao	Value	60.00	74.00	80.00
	Date	December 31, 2014	December 31, 2019	December 31, 2020
	Comment

UPDATED TARGET: Increase in the number of new firms incorporated online in the System of Online Registration (Sistema de Intermediación Digital-SID)	Value	0.00	41778.00	40000.00
	Date	December 31, 2014	December 31, 2019	December 31, 2020
	Comment

NEW INDICATOR: Reduce the time to import (measured as TTLM - total time to release good imports) (decline of 40% by 2020 compared to 2014)	Value	155 hours in 2014, monthly average	65 hours, monthly average	93 hours in 2020, monthly average
	Date	December 31, 2014	June 30, 2020	December 31, 2020
	Comment

NEW INDICATOR: Increase (by 3 pp) in the proportion of students that attain the level 2 or superior for Sciences, Math and Reading	Value	41.5% in Science, 33.9% for Math and 46.1% for Rea	45.5% in Science, 39.7% for Math and 45.7% for Rea	44.5% in Science, 36.9% in Math and 49.1% in Readi
	Date	December 31, 2015	December 31, 2018	December 31, 2018
	Comment

UPDATED TARGET: Increase in the number of bureaucratic barriers voluntarily removed from the legal framework by entities of the Public Administration due to an action of INDECOPI	Value	91.00	17555.00	6000.00
	Date	December 31, 2013	December 31, 2019	December 31, 2020
	Comment

UPDATED TARGET: Increase in the number of Conformity Assessment Bodies for products, processes, and management systems Value 115.00 228.00 190.00
Date December 31, 2014 March 31, 2020 December 31, 2020
Comment

NEW INDICATOR: Increase private sector investment (commitments through signed contracts through works for taxes and PPPs) in the construction and/or maintenance of public schools	Value	0	US$ 23.9 million between 2014 and 2017. No availab	US$300 million between 2015 and 2020
	Date	December 31, 2014	December 31, 2020	December 31, 2020
	Comment

UPDATED TARGET: Reduction in the average amount of monthly withholdings (which would increase liquidity for firms) due to the system	Value	0.00	42000000.00	180000000.00
	Date	December 31, 2014	May 29, 2020	December 31, 2020
	Comment

REMOVED: Decline in the time to import (by 10% in 2017 compared to 2014) Value 72.00 72.00 65.00
Date December 31, 2014 December 31, 2017 December 31, 2017
Comment

UPDATED TARGET: Increase in the number of universities and university programs under revision to be licensed	Value	0 percent of universities	95 percent	100 percent universities
	Date	December 31, 2014	December 31, 2020	December 31, 2020
	Comment

NEW INDICATOR: Increase the number of electronic auctions for asset foreclosures Value 0.00 4627.00 3500.00
Date December 31, 2015 December 31, 2019 December 31, 2020
Comment
REMOVED: Increase the number of secondary schools that implement the new school-day model Value 0.00 2001.00 1500.00
Date December 31, 2014 December 31, 2017 December 31, 2017
Comment
REMOVED: Increase in the average recovery rate of creditors on insolvencies Value 28.50 29.80 36.00
Date December 31, 2014 December 31, 2017 December 31, 2018
Comment
and include learning outcomes in the stated targets of the performance-based financial incentive mechanism for subnational entities Value 0.00 100.00 0.00
Date December 31, 2014 December 31, 2017
Comment
REMOVED: Increase private sector investment in the construction and/or maintenance of public schools Value 0.00 78000000.00 150000000.00
Date December 31, 2014 December 31, 2017 December 31, 2017
Comment

UPDATED TARGET: Increase in the number of Conformity Assessment Bodies for products, processes, and management systems	Value	115.00	228.00	190.00
	Date	December 31, 2014	March 31, 2020	December 31, 2020
	Comment

REMOVED: Decline in the time to import (by 10% in 2017 compared to 2014)	Value	72.00	72.00	65.00
	Date	December 31, 2014	December 31, 2017	December 31, 2017
	Comment

REMOVED: Increase in the average recovery rate of creditors on insolvencies	Value	28.50	29.80	36.00
	Date	December 31, 2014	December 31, 2017	December 31, 2018
	Comment