IRAQ: SECOND EXPENDITURE RATIONALIZATION, ENERGY EFFICIENCY AND STATE-OWNED ENTERPRISE GOVERNANCE PROGRAMMATIC DPF

Abstract*

The Second Expenditure Rationalization, Energy Efficiency, and State-Owned Enterprise Governance Development Policy Financing (DPF) Project for Iraq aims to achieve economic stabilization and lay the ground for structural reforms around three pillars, which form the operation’s program development objectives (PDOs) improve: (1) expenditure rationalization; (2) energy efficiency; and (3) the transparency and governance of state-owned enterprises. This... Show More

Development Objective

The proposed operation aims to achieve economic stabilization and lay the ground for structural reforms around three pillars, whichform the operation’s Program Development Objectives (PDOs): Improve (1) expenditure rationalization; (2) energy efficiency; and (3)the transparency and governance of state-owned enterprises.

Key Details

Project Details

Project ID
P161167
Status
Closed
Team Leader
Luca Bandiera
Borrower 2
Ministry of Finance

Country
Iraq
Disclosure Date
October 11, 2016
Approval Date
(as of board presentation)
December 20, 2016
Effective Date
December 22, 2016

Total Project Cost 1
US$ 1443.82 million
Implementing Agency
Prime Minister's Office
Region
Middle East and North Africa
Fiscal Year 3
2017

Commitment Amount
US$ 1443.82 million
Environmental Category
N/A
Last Update Date
August 16, 2023
Closing Date
December 31, 2017

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 - Environment and Natural Resource Management

FY17 - Climate change22%
- FY17 - Mitigation22%
FY17 - Energy22%
- FY17 - Energy Efficiency11%
- FY17 - Energy Policies & Reform11%

FY17 - Finance

FY17 - Financial Stability11%

FY17 - Private Sector Development

FY17 - ICT11%
- FY17 - ICT Solutions11%

FY17 - Public Sector Management

FY17 - Public Administration44%
- FY17 - Public Assets and Investment Management11%
- FY17 - Transparency, Accountability and Good Governance33%
FY17 - Public Finance Management33%
- FY17 - Debt Management11%
- FY17 - Public Expenditure Management22%

FY17 - Social Development and Protection

FY17 - Social Protection11%
- FY17 - Social Safety Nets11%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	1443.82

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	1443.82
IDA Commitment	N/A
IBRD + IDA Commitment	1443.82

Lending Instrument
Grant Amount	N/A
Total Project Cost**	1443.82

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$)
May 15, 2023	IBRD-86880	Int Charges	3,511.70
May 15, 2023	IBRD-86880	Int Charges	18,134.99
Nov 25, 2022	IBRD-86880	Int Charges	15,315,660.00
Nov 25, 2022	IBRD-86880	Int Charges	1,102,727.50
Nov 25, 2022	IBRD-86880	Int Charges	5,694,668.50
Nov 25, 2022	IBRD-86880	Loan Repay	38,500,000.00
Nov 25, 2022	IBRD-86880	Loan Repay	2,772,000.00
Nov 25, 2022	IBRD-86880	Loan Repay	14,315,070.00
Nov 15, 2021	IBRD-86880	Int Charges	4,702,222.00
Nov 15, 2021	IBRD-86880	Int Charges	338,560.00
Nov 15, 2021	IBRD-86880	Int Charges	1,748,380.20
May 15, 2022	IBRD-86880	Int Charges	4,826,666.50
May 15, 2022	IBRD-86880	Int Charges	347,520.00
May 15, 2022	IBRD-86880	Int Charges	1,794,651.20
May 15, 2022	IBRD-86880	Loan Repay	38,500,000.00
May 15, 2022	IBRD-86880	Loan Repay	2,772,000.00
May 15, 2022	IBRD-86880	Loan Repay	14,315,070.00
Nov 15, 2020	IBRD-86880	Int Charges	7,002,222.00
Nov 15, 2020	IBRD-86880	Int Charges	504,160.00
Nov 15, 2020	IBRD-86880	Int Charges	2,603,566.20
May 15, 2021	IBRD-86880	Int Charges	4,776,389.00
May 15, 2021	IBRD-86880	Int Charges	343,900.00
May 15, 2021	IBRD-86880	Int Charges	1,775,956.90
May 15, 2020	IBRD-86880	Int Charges	13,195,000.00
May 15, 2020	IBRD-86880	Int Charges	950,040.00
May 15, 2020	IBRD-86880	Int Charges	4,906,165.00
Nov 15, 2018	IBRD-86880	Int Charges	6,062,318.50
May 15, 2019	IBRD-86880	Int Charges	17,848,612.00
May 15, 2019	IBRD-86880	Int Charges	1,285,100.00
May 15, 2019	IBRD-86880	Int Charges	6,636,470.50
Nov 15, 2019	IBRD-86880	Int Charges	16,815,556.00
Nov 15, 2019	IBRD-86880	Int Charges	1,210,720.00
Nov 15, 2019	IBRD-86880	Int Charges	6,252,360.00
Dec 23, 2016	IBRD-86880	Loan Disb	71,820,000.00
Dec 23, 2016	IBRD-86880	Loan Disb	370,890,464.00
Dec 23, 2016	IBRD-86880	Loan Disb	997,500,030.00
Dec 22, 2016	IBRD-86880	Loan Disb	180,000.00
Dec 22, 2016	IBRD-86880	Fee Charges	180,000.00
Dec 22, 2016	IBRD-86880	Loan Disb	929,550.00
Dec 22, 2016	IBRD-86880	Fee Charges	929,550.00
Dec 22, 2016	IBRD-86880	Loan Disb	2,500,000.00
Dec 22, 2016	IBRD-86880	Fee Charges	2,500,000.00
May 18, 2017	IBRD-86880	Int Charges	7,587,077.00
May 18, 2017	IBRD-86880	Int Charges	546,269.56
May 18, 2017	IBRD-86880	Int Charges	2,821,027.00
Nov 15, 2017	IBRD-86880	Int Charges	10,682,222.00
Nov 15, 2017	IBRD-86880	Int Charges	769,120.00
Nov 15, 2017	IBRD-86880	Int Charges	3,971,863.80
May 15, 2018	IBRD-86880	Int Charges	4,262,296.50
May 15, 2018	IBRD-86880	Int Charges	11,463,333.00
May 15, 2018	IBRD-86880	Int Charges	825,360.00
Nov 15, 2018	IBRD-86880	Int Charges	16,304,444.00
Nov 15, 2018	IBRD-86880	Int Charges	1,173,920.00
Dec 20, 2016	IBRD-86880	Loan Commitment	1,000,000,000.00
Dec 20, 2016	IBRD-86880	Loan Commitment	72,000,000.00
Dec 20, 2016	IBRD-86880	Loan Commitment	371,820,000.00
May 15, 2024	IBRD-86880	Int Charges	1,998,928.60
May 15, 2024	IBRD-86880	Int Charges	10,322,801.00
May 15, 2024	IBRD-86880	Loan Repay	38,500,000.00
May 15, 2024	IBRD-86880	Int Charges	174,405.31
May 15, 2024	IBRD-86880	Int Charges	12,557.18
May 15, 2024	IBRD-86880	Int Charges	64,847.39
May 15, 2024	IBRD-86880	Loan Repay	2,772,000.00
May 15, 2024	IBRD-86880	Loan Repay	14,315,070.00
May 15, 2024	IBRD-86880	Int Charges	27,762,898.00
Nov 15, 2023	IBRD-86880	Int Charges	552,959.50
Nov 15, 2023	IBRD-86880	Int Charges	39,813.08
Nov 15, 2023	IBRD-86880	Int Charges	205,601.40
Nov 15, 2023	IBRD-86880	Int Charges	27,480,140.00
Nov 15, 2023	IBRD-86880	Int Charges	1,978,570.00
Nov 15, 2023	IBRD-86880	Int Charges	10,217,665.00
Nov 15, 2023	IBRD-86880	Loan Repay	38,500,000.00
Nov 15, 2023	IBRD-86880	Loan Repay	2,772,000.00
Nov 15, 2023	IBRD-86880	Loan Repay	14,315,070.00
May 15, 2023	IBRD-86880	Int Charges	8,872,335.00
May 15, 2023	IBRD-86880	Loan Repay	38,500,000.00
May 15, 2023	IBRD-86880	Loan Repay	2,772,000.00
May 15, 2023	IBRD-86880	Loan Repay	14,315,070.00
May 15, 2023	IBRD-86880	Int Charges	1,718,057.40
May 15, 2023	IBRD-86880	Int Charges	23,861,908.00
May 15, 2023	IBRD-86880	Int Charges	501,411.84
May 15, 2023	IBRD-86880	Int Charges	1,348,533.90
May 15, 2023	IBRD-86880	Int Charges	97,094.44
May 15, 2023	IBRD-86880	Int Charges	48,773.56

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2018-04-30
Monitoring and Evaluation	Moderately Satisfactory	2018-04-30
Overall Implementation Progress (IP)	Moderately Satisfactory	2018-04-30
Program Management	Moderately Satisfactory	2018-04-30

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 10-11-2019
Outcomes	Moderately Satisfactory
Risk to Development Outcome	High
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Moderately Unsatisfactory
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 06-22-2020	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	High	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	Modest	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

Strengthened payroll expenditure control as measured by the percentage of verified central government employees whose compensation and daily attendance is tracked electronically (minimum of the two va	Value	0.00	11.00	15.00
	Date	December 31, 2015	February 28, 2018	December 31, 2018
	Comment

Improved social safety net efficiency as measured by: (1) coverage ratio of the poor Value 11.00 0.00 50.00
Date December 31, 2015 December 31, 2018
Comment
Reduction in gas flared as measured by (1) the expansion in Iraq’s gas processing capacity Value 6935.20 9901.55 13436.30
Date December 31, 2015 December 29, 2017 December 31, 2018
Comment

Improved SOEs transparency and governance as measured by the ISAR Benchmark of Corporate Governance Disclosures to measure corporate governance disclosure changes at a regulatory level as well as the	Value	0.00	3.80	15.00
	Date	December 31, 2015	May 31, 2018	December 31, 2018
	Comment

Improved selection and assessment of public investment projects as measured by the percentage of capital projects that exceed ID100,000 billion (about US$85 million) for which a feasibility study with	Value	5.00	6.20	20.00
	Date	December 31, 2015	December 29, 2017	December 31, 2018
	Comment

Share of the domestic debt in total public debt Value 34.40 41.20 35.00
Date December 31, 2015 December 31, 2017 December 31, 2018
Comment

Improved social insurance efficiency, coverage, and sustainability as measured by the expected actuarial deficit period (years lefttill going into deficit from 2015)	Value	13.00	28.00	28.00
	Date	December 31, 2015	May 31, 2017	December 31, 2018
	Comment

Improve electricity generation efficiency, cost, and environmental impact through increased share of gas used in the power generation mix.	Value	42.00	47.00	70.00
	Date	December 31, 2015	December 29, 2017	December 31, 2018
	Comment

Reduced electricity subsidies, as measured by improved revenue collection as a percentage of generation Value 30.00 20.00 50.00
Date December 31, 2015 December 29, 2017 December 31, 2018
Comment
The amount of locally produced gas-to-power allocation Value 6003.90 8759.60 12402.80
Date December 31, 2015 December 29, 2017 December 31, 2018
Comment
Improved collection from non-government sources Value 317258883.00 519458545.00 1163282572.00
Date December 31, 2015 December 31, 2018
Comment
Number of government spending units whose detailed payroll data is captured monthly in Central Payroll Database. Value 0.00 61.00 10.00
Date December 31, 2015 May 31, 2017 December 31, 2018
Comment
Share of total domestic debt issued using market instruments on total domestic annual borrowing. Value 0.00 8.60 10.00
Date December 31, 2015 December 31, 2017 December 31, 2018
Comment
Capping of state-owned banks’ exposure to non-financial SOEs. Value 8291032148.90 8291032148.90 8291032148.90
Date December 31, 2015 December 29, 2017 December 31, 2018
Comment

Reduction in gas flared as measured by (1) the expansion in Iraq’s gas processing capacity	Value	6935.20	9901.55	13436.30
	Date	December 31, 2015	December 29, 2017	December 31, 2018
	Comment

Share of the domestic debt in total public debt	Value	34.40	41.20	35.00
	Date	December 31, 2015	December 31, 2017	December 31, 2018
	Comment

Reduced electricity subsidies, as measured by improved revenue collection as a percentage of generation	Value	30.00	20.00	50.00
	Date	December 31, 2015	December 29, 2017	December 31, 2018
	Comment

The amount of locally produced gas-to-power allocation	Value	6003.90	8759.60	12402.80
	Date	December 31, 2015	December 29, 2017	December 31, 2018
	Comment

Improved collection from non-government sources	Value	317258883.00	519458545.00	1163282572.00
	Date	December 31, 2015		December 31, 2018
	Comment

Capping of state-owned banks’ exposure to non-financial SOEs.	Value	8291032148.90	8291032148.90	8291032148.90
	Date	December 31, 2015	December 29, 2017	December 31, 2018
	Comment