Public Disclosure Authorized EUROPE AND CENTRAL ASIA Serbia Transport Global Practice IBRD/IDA Specific Investment Loan FY 2013 Seq No: 4 ARCHIVED on 24-Jun-2015 ISR17421 Implementing Agencies: Public Enterprise Roads of Serbia Public Disclosure Authorized Key Dates Key Project Dates Board Approval date:26-apr-2013 Planned Mid Term Review Date:05-Jun-2017 Original Closing Date:31-Oct-2018 Project Development Objectives Effectiveness Date:24-Oct-2014 Actual Mid-Term Review Date:-- Revised Closing Date:31-Dec-2019 Public Disclosure Authorized Project Development Objective (from Project Appraisal Document) The proposed PDO is to improve the condition and safety of the National Road Network for road users by supporting the Republic of Serbia in the implementation of the first phase of its National Road Network Rehabilitation Program. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Road Rehabilitation and Safety Investments (264 million Euros):(Cost $357.72 M) Public Disclosure Authorized Institutional Strengthening (3.10 million Euros):(Cost $4.20 M) Project Detailed Design, Supervision, Management and Monitoring (18.4 million Euros):(Cost $25.56 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating -- Moderate 6/24/2015 Page 1 of 6
Implementation Status and Key Decisions The Loan Agreement was declared effective on October 24, 2014 following long delays since the approval of the project by the World Bank's Board on April 26, 2013. A cabinet restructuring in Serbia in July 2013 followed by a review of all projects supported by multilateral and bilateral financing delayed the Project signing by the Government till November 27, 2013. Parliamentary elections on March 16, 2014 and the appointment of a new government on April 27, 2014 delayed the ratification of the Project's legal agreements and the signing of the subsidiary agreement between the Government of Serbia and Public Enterprise Roads of Serbia. As the project development objective is to improve the condition and the safety of the National Road Network for road users, the Project will focus in the first year of implementation on addressing the severe damages of the May 2014 floods. Loan Effectiveness took place on October 24, 2014. The Project was restructured on January 13, 2015 to accomodate the rehabilitation of flood-damaged roads. First disbursments have been recorded in Q4 2015. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- -- Substantial Macroeconomic -- -- Substantial Sector Strategies and Policies -- -- Moderate Technical Design of Project or Program -- -- Substantial 6/24/2015 Page 2 of 6
Institutional Capacity for Implementation and Sustainability -- -- Moderate Fiduciary -- -- Moderate Environment and Social -- -- Low Stakeholders -- -- Low Other -- -- -- Overall -- -- Moderate Results Project Development Objective Indicators PHINDPDOTBL Reduction in road traffic accidents with fatalities on the improved roads in the first phase of NRNRP (Percentage, Custom) Value 100.00 -- 100.00 90.00 Date 30-Apr-2014 -- 16-Jun-2015 31-Dec-2019 PHINDPDOTBL Improvement in road conditions measured by a reduction in the average IRI for the roads in the first phase of NRNRP (Number, Custom) Value 5.56 -- 5.56 2.50 Overall Comments Intermediate Results Indicators 6/24/2015 Page 3 of 6
Road Condition Survey Completed on National Roads (Kilometers, Custom) Value 0.00 -- 0.00 9000.00 Implementation of a circular for the preparation of rehabilitation program based socioeconomic & regional considerations (Text, Custom) Value None, except for on IFI funded projects -- None, except for on IFI funded projects Implementation of a circular Date 30-Oct-2014 -- 16-Jun-2015 31-Oct-2018 PBMC Contracts in Implementation (Kilometers, Custom) Value 600.00 -- 600.00 3000.00 Roads rehabilitated, Non-rural (Kilometers, Core) Value 0.00 -- 0.00 1100.00 Date 15-Dec-2014 -- 16-Jun-2015 31-Dec-2019 6/24/2015 Page 4 of 6
Safety Inspection of National Roads beyond the first phase of NRNRP (Kilometers, Custom) Value 0.00 -- 0.00 1000.00 Roads in good and fair condition as a share of total classified roads (Percentage, Core) Value 58.79 -- 58.79 65.30 Date -- -- 16-Jun-2015 -- Size of the total classified network (Kilometers, Core Supplement) Value 16900.00 -- 16900.00 16900.00 Date -- -- 16-Jun-2015 -- Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P127876 IBRD-82550 Effective USD 100.00 100.00 0.00 20.14 74.68 20% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P127876 IBRD-82550 Effective 26-Apr-2013 27-Nov-2013 24-Oct-2014 31-Oct-2018 31-Dec-2019 6/24/2015 Page 5 of 6
Cumulative Disbursements Restructuring History Level 2 Approved on 13-Jan-2015 Related Project(s) There are no related projects. 6/24/2015 Page 6 of 6