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Lao PDR Financial Sector Safety Net Strengthening

Abstract*

The development objective of the Financial Sector Safety Net Strengthening Project for Lao People’s Democratic Republic is to strengthen the financial and institutional capacity of the deposit protection office (DPO) to fulfill its deposit insurance mandate. The project comprises of two components. The first component, capitalization of DPO equity fund will use performance-based conditions (PBCs), whereby the World Bank funds are disbursed in tranches...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

To strengthen the financial and institutional capacity of the Deposit Protection Office to fulfill its deposit insurance mandate.

Key Details

Project Details

  • P169194

  • Active

  • Julian Casal

  • Lao People’s Democratic Republic

  • US$ 35.00 million

  • Deposit Protection Office

  • East Asia and Pacific

  • 2020

  • US$ 35.00 million

  • N/A

  • December 1, 2023

  • March 31, 2026

  • TBD

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Credit 35.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 35.00
IBRD + IDA Commitment 35.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 35.00

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

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of January 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Aug 19, 2024 IDA-65710 Loan Disb 17,055.74
Apr 27, 2022 IDA-65710 Int Charges 3,773.74
Apr 27, 2022 IDA-65710 Int Charges 8,567.09
Apr 27, 2022 IDA-65710 Int Charges 23,024.55
Apr 27, 2022 IDA-65710 Int Charges 23,024.55
Apr 27, 2022 IDA-65710 Int Charges 38,374.22
Nov 4, 2021 IDA-65710 Int Charges 1,424.44
Nov 4, 2021 IDA-65710 Int Charges 1,424.44
Sep 8, 2021 IDA-65710 Loan Disb 6,163,019.00
Oct 15, 2022 IDA-65710 Int Charges 2,852.43
Oct 15, 2022 IDA-65710 Int Charges 2,852.43
Oct 15, 2022 IDA-65710 Int Charges 18,940.03
Oct 15, 2022 IDA-65710 Int Charges 18,940.03
Oct 15, 2022 IDA-65710 Int Charges 36,320.74
Apr 15, 2023 IDA-65710 Int Charges 37,759.17
Apr 15, 2023 IDA-65710 Int Charges 1,998.12
Apr 15, 2023 IDA-65710 Int Charges 1,998.12
Apr 15, 2023 IDA-65710 Int Charges 21,127.50
Apr 15, 2023 IDA-65710 Int Charges 21,127.50
May 26, 2023 IDA-65710 Loan Disb 367,185.00
May 11, 2023 IDA-65710 Loan Disb 13,961,341.00
Oct 15, 2023 IDA-65710 Int Charges 66,982.17
Oct 15, 2023 IDA-65710 Int Charges 66,982.17
Oct 15, 2023 IDA-65710 Int Charges 111,636.94
Oct 15, 2023 IDA-65710 Int Charges 757.66
Apr 15, 2024 IDA-65710 Int Charges 71,951.07
Apr 15, 2024 IDA-65710 Int Charges 71,951.07
Apr 15, 2024 IDA-65710 Int Charges 125,037.63
Apr 15, 2024 IDA-65710 Int Charges 3,071.50
Apr 15, 2024 IDA-65710 Int Charges 3,071.50
Apr 11, 2024 IDA-65710 Loan Disb 93,906.00
Sep 7, 2021 IDA-65710 Loan Disb 173,966.00
Oct 15, 2021 IDA-65710 Int Charges 3.74
Oct 15, 2021 IDA-65710 Int Charges 3.74
Apr 21, 2021 IDA-65710 Int Charges 273.25
Apr 21, 2021 IDA-65710 Int Charges 273.25
Apr 21, 2021 IDA-65710 Int Charges 455.40
Jan 14, 2021 IDA-65710 Loan Disb 144,960.00
Apr 27, 2022 IDA-65710 Int Charges 3,773.74
Mar 30, 2020 IDA-65710 Loan Commitment 35,000,000.00
Aug 19, 2024 IDA-65710 Loan Disb 1,936,779.50

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Procurement Satisfactory 2025-01-27
Project Management Moderately Satisfactory 2025-01-27
Progress towards achievement of PDO Moderately Satisfactory 2025-01-27
Financial Management Satisfactory 2025-01-27
Monitoring and Evaluation Moderately Satisfactory 2025-01-27
Overall Implementation Progress (IP) Moderately Satisfactory 2025-01-27

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Adequate financial inflows into the DPO during the course of the project, in order to achieve a funding ratio of at least 1.10% (eligible deposits)Value0.510.571.10
    DateOctober 2, 2019December 31, 2022June 30, 2024
    Comment
  • DPO empowered to perform its legally-mandated function (deposit payout), as evidenced by progress towards compliance with IADI CorePrinciplesValueMaterially Non-CompliantMaterially Non-CompliantPartially Compliant
    DateOctober 2, 2019June 27, 2023June 28, 2024
    Comment
  • Arrangement on back-up funding support in placeValueNoYesYes
    DateOctober 2, 2019May 13, 2022June 30, 2021
    Comment
  • Simulation exercise on deposit insurance claims processing and payment conductedValueNoNoYes
    DateOctober 2, 2019June 27, 2023December 31, 2021
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Regulation on adjusted premium passedValueNoYesYes
    DateOctober 2, 2019February 15, 2022March 31, 2020
    Comment
  • Sharing of BOL risk information on problematic banks with DPOValueNoYesYes
    DateOctober 2, 2019February 15, 2022December 31, 2020
    Comment
  • DPO reserves invested in instruments other than deposits at member institutionsValue38.00100.00100.00
    DateOctober 2, 2019June 27, 2023June 30, 2022
    Comment
  • Technical committee constituted to prepare groundwork for Financial Sector Stability CommitteeValueNoNoYes
    DateOctober 2, 2019June 27, 2023December 31, 2021
    Comment
  • DPO Corporate Governance Charter and Code of Ethics approvedValueNoYesYes
    DateOctober 2, 2019February 15, 2022December 31, 2020
    Comment
  • Audited financial statements generated from the new accounting systemValueNoNoYes
    DateOctober 2, 2019June 27, 2023December 31, 2022
    Comment
  • Regulation on record keeping of deposits approved and issuedValueNoYesYes
    DateOctober 2, 2019June 27, 2023March 31, 2021
    Comment
  • Regulation on procedures for claiming deposit insurance approvedValueNoYesYes
    DateOctober 2, 2019April 29, 2022December 31, 2020
    Comment
  • Regulation requiring member Institutions to provide standard information on deposit insurance coverage to their clients issuedValueNoYesYes
    DateOctober 2, 2019April 29, 2022December 31, 2020
    Comment
  • Public awareness strategy revised based on survey conductedValueNoNoYes
    DateOctober 2, 2019June 27, 2023June 30, 2023
    Comment
  • Percentage of complaints handled from Grievance Redress mechanism in place (disaggregated by number/percent of women)Value0.000.0075.00
    DateOctober 2, 2019June 27, 2023June 30, 2024
    Comment
  • Beneficiary satisfaction with public awareness and literacy program about the deposit insurance (disaggregated by number/percent ofwomen)Value0.000.0075.00
    DateOctober 2, 2019June 27, 2023June 30, 2024
    Comment
  • Regulations governing problem bank resolution process in placeValueNoYesYes
    DateOctober 2, 2019May 31, 2022March 31, 2021
    Comment
  • Regulations on prompt corrective action and early intervention in placeValueNoYesYes
    DateOctober 2, 2019May 16, 2022June 30, 2021
    Comment
  • Assessment on Compliance with IADI Core Principles on Deposit Insurance completedValueNoNoYes
    DateOctober 2, 2019June 27, 2023June 30, 2023
    Comment
  • Timely payout of insured deposits in the event of a bank failureValueNoNoYes
    DateOctober 2, 2019October 4, 2022June 30, 2024
    Comment