IDA COUNTRY ALLOCATIONS FOR FY17

Transcription

1 IDA COUNTRY ALLOCATIONS FOR FY17 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized IDA Resource Mobilization Department (DFiRM) October 4, 2017

2 IDA Country Allocations for FY17 1. The IDA17 1 replenishment arrangements provide that IDA country allocations be made available for information to IDA s Executive Directors and disclosed on IDA s external website at the end of each fiscal year of the IDA17 implementation period. 2,3 This note responds to these disclosure commitments by providing: (i) FY17 core (PBA) IDA country allocations, including for operations under the Regional Program (Table 1); and (ii) key input data on which the FY17 allocations were based (Table 2). In addition, the note provides the FY17 allocations under the IDA17 Crisis Response Window (CRW) (Table 3) and the IDA17 Scale-up facility (SUF) (Table 4). 2. Performance-Based Allocations (PBA) and Regional Allocations. Table 1, Column A shows: (i) the country allocations for FY17, as determined under the PBA system; 4,5 and (ii) funds set aside for regional projects in FY17, broken down by region. In FY17, a total of SDR10,0255 million was allocated to 74 countries. 6 This included SDR980 million on grant terms, SDR8,070 million on regular or blend terms, SDR118 million on hard terms, SDR617 million in funds set aside for regional projects and SDR240 million set aside for countries potentially eligible for exceptional IDA financing under the Turn-around Regime. 7, 8 The largest shares of FY17 resources were allocated to Africa (SDR5,680 million, reflecting the sum of SDR5,217 million through the PBA system and SDR463 million through the Regional Program), South Asia (a total of SDR2,128 million) and East Asia and Pacific (SDR1,404 million), followed by allocations to Europe and Central Asia (SDR334 million), Latin America and the Caribbean (SDR176 million), and Middle East and North Africa (SDR63 million). 3. Column B provides IDA allocations that were either front-loaded or back-loaded by each country during FY15 and FY16. Positive values indicate back-loaded amounts, i.e. allocations unutilized by countries in the first two years of IDA17 and thus available for commitment in FY17. Negative values indicate cumulative amounts front-loaded from FY17 and utilized in FY15/16. While front-/back-loading patterns varied by country and region, cumulative front-/back-loading activities for all countries resulted in an overall net front-loading of FY17 allocations, reducing by SDR739 million funds available for commitment in FY17 relative to original allocations. 1 The IDA17 implementation period covers the three fiscal years (FY15-FY17). 2 Additions to IDA Resources: Seventeenth Replenishment. IDA17: Maximizing Development Impact. (IDA17 Deputies Report). March 25, 2014 (page 92). 3 IDA allocations for the first year of IDA17 were disclosed in IDA Country Allocations for FY15, August 10, 2015, while IDA allocations for the second year of IDA17 were disclosed in IDA Country Allocations for FY16, September 15, For details on the PBA system, see Annex 2 of IDA17 Deputies Report, Op.Cit. 5 The transitional support to India and the set-aside resources for potential arrears clearance during IDA17 (SDR2.3 billion and SDR806 million, respectively) are not included in this table. 6 Of 77 IDA-eligible countries as of July 1, 2016, three inactive IDA countries with credits in protracted non-accrual status were not allocated IDA resources (Somalia, Sudan, and Zimbabwe). 7 The break-down of funding for regional projects into grants and credits is determined at the time of their preparation based on the grant eligibility of the IDA countries participating in the project, and on whether there are any regional institutions that receive IDA financing on grant terms through these projects. 8 The allocation of SDR10.8 million for Eritrea is reflected as having been allocated on grant terms; however, a final determination of terms applicable to the allocation were subject to confirmation at the time of the country s re-engagement with IDA if/as relevant.

3 Column C shows the sum of inter- and intra-regional reallocations that took place in FY17. 9 Positive values in the column indicate that additional resources were made available to a country through reallocations; conversely, negative values indicate resources were reallocated from a country to other countries. Column C includes the reallocation of IDA resources originally set aside for utilization under the IDA17 Turn-around Regime but reallocated to individual countries at midyear. 5. Column D shows the final FY17 allocations for each country, including the adjustments for front-loaded and back-loaded amounts, and regional and intra-regional reallocations. Final allocations totaled SDR9,286 million SDR739 million lower than the original FY17 allocation figure of SDR10,025 million owing to the SDR739 million reduction in allocable resources associated with cumulative front-loading of country allocations. 6. Key Input Data for FY17 Allocations. Table 2 presents the key data underpinning the FY17 country allocations. The fourth column of the table shows country performance ratings (CPRs) with the initial three columns reflecting the input variable upon which the CPRs were calculated. The first column shows the average rating for the Country Policy and Institutional Assessment (CPIA) clusters A through C ( Economic Management, Structural Policies, and Policies for Social Inclusion, respectively); the second column shows the rating for the CPIA cluster D ( Public Sector Management and Institutions ); and the third column shows the portfolio performance rating. The final two columns of the table show the country population and GNI per capita, respectively. 7. Crisis Response Window (CRW) Allocations. Table 3 provides the FY17 country allocations funded through CRW. As shown in the table, CRW resources of approximately SDR506 million (equivalent to US$700 million) were made available to fourteen countries in the context of the Bank s response to four separate crises in FY17: (a) SDR65 million (US$90 million) for the El Niño-related drought response (Lesotho, Madagascar, Malawi, and Mozambique); (b) SDR264 million (US$360 million) toward a bi-regional drought significantly affecting five countries (Ethiopia, Kenya, Somalia, South Sudan, and Yemen); (c) SDR73 million (US$100 million) to support Haiti in its response to the impact of Hurricane Matthew; and (d) SDR104 million (US$150 million) to assist four countries response to commodity price shocks (Chad, Guinea, Liberia, and Sierra Leone). 8. Scale-up Facility (SUF) Allocations. In FY16, the World Bank established a facility (the IDA17 Scale-up Facility, or SUF) of about SDR2.8 billion (equivalent to US$3.9 billion) to finance additional IDA operations to be delivered by the end of FY Table 4 shows that regional allocations available for commitment under the facility in FY17 stood at SDR2.4 billion (US$3.6 billion) as of July 1, As provided under the rules on IDA reallocations in the final year of a replenishment period, in FY17 the Regional Vice- Presidencies, Development Finance Vice Presidency (DFIVP) and Office of the Vice President (OPSVP) jointly reallocated dormant IDA funds from countries that were unlikely to use them to the countries that could use them effectively to optimize the use of IDA17 resources and ensure their full utilization. 10 Enhancing IDA s Financial Support in IDA17 (Revised) (IDA/R /1), March 2, In FY16, a total of US$300 million of IDA17 SUF resources were committed to support operations approved for Pakistan and Tanzania.

4 - 3 - Table 1. IDA Country Allocations in FY17 (SDR million) Original FY17 PBA Allocations a/ Adjustments for FY15 and FY16 Front- and Back-loading b/ FY17 Regional and Intra-Regional Reallocations c/ Final FY17 Allocations Region/Country A B C D = A + B + C Africa (AFR) Benin Burkina Faso Burundi Cameroon Cape Verde Central African Republic i/ Chad Comoros Congo, Democratic Republic of Congo, Republic of Cote d'ivoire Eritrea g/ Ethiopia Gambia, The Ghana Guinea Guinea-Bissau i/ Kenya Lesotho Liberia Madagascar i/ Malawi Mali Mauritania Mozambique Niger Nigeria Rwanda Sao Tome and Principe Senegal Sierra Leone Somalia h/ Sudan h/ South Sudan Tanzania Togo Uganda Zambia Zimbabwe h/ Subtotal AFR , , , ,147.6

5 - 4 - Table 1. IDA Country Allocations in FY17 (continued) (SDR million) Original FY17 PBA Allocations a/ Adjustments for FY15 and FY16 Front- and Back-loading b/ FY17 Regional and Intra-Regional Reallocations c/ Final FY17 Allocations Region/Country A B C D = A + B + C East Asia and the Pacific (EAP) Cambodia Kiribati Lao People's Democratic Republic Marshall Islands Micronesia, Federated States of Mongolia Myanmar Papua New Guinea Samoa Solomon Islands Timor-Leste Tuvalu Tonga Vanuatu Vietnam Subtotal EAP , , , ,505.5 Europe and Central Asia (ECA) Kosovo Kyrgyz Republic Moldova Tajikistan Uzbekistan Subtotal ECA Latin America and the Caribbean (LCR) Bolivia Dominica Grenada Guyana Haiti Honduras Nicaragua St. Lucia St. Vincent and the Grenadines Subtotal LCR

6 - 5 - Table 1. IDA Country Allocations in FY17 (continued) (SDR million) Original FY17 PBA Allocations a/ Adjustments for FY15 and FY16 Front- and Back-loading b/ FY17 Regional and Intra-Regional Reallocations c/ Final FY17 Allocations Region/Country A B C D = A + B + C Middle East and North Africa (MNA) Djibouti Yemen, Republic of Subtotal MNA South Asia (SAR) Afghanistan Bangladesh Bhutan Maldives Nepal Pakistan Sri Lanka Subtotal SAR , , , ,391.5 Country Allocations (CA) , , , , ,841.7 Regional Program f/ Africa East Asia and the Pacific Europe and Central Asia Latin America and the Caribbean Middle East and North Africa South Asia Regional Program (RP) Turn-around Regime set-aside (TAR) Grand = CA + RP + TAR 10, ,286.2 Notes: a/ Figures reflect original Performance-Based Allocations (PBA) as determined through the PBA system. b/ Amounts represent cumulative FY15 and FY16 front- or back-loading of resources. Positive values indicate back-loading, while negative values indicate front-loading. c/ Positive values indicate resources which were received by countries through intra-regional anor inter-regional reallocations. Negative values indicate resources that were reallocated from countries during intra-regional anor inter-regional reallocation processes. The terms of these credits vary by country (either regular IDA terms, small island economy terms or blend IDA terms), based on each country's IDA classification in FY17 (see OP3.10 Annex D as of July 2016). e/ credits were made available to all creditworthy IBRD/IDA blend countries, except for the small island blend countries (Cape Verde, Dominica, Grenada, St. Lucia, and St. Vincent and Grenadines). The small island blend countries received IDA credits under the IDA-only regular terms as agreed in IDA17 replenishment. For more details on credit financing terms in FY17, please refer to OP3.10 Annex D as of July f/ The breakdown of funds set aside for regional projects into credits and grants is not available at the time when the allocations are determined. See footnote a/ for more details. g/ Eritrea was classified as a country with credits in non-accrual status effective March 15, The applicable financing terms of its allocation will be determined at the time of its re-engagement with IDA. h/ Inactive IDA countries with credits in protracted non-accrual status. i/ Three countries received exceptional IDA allocations under the turn-around regime: Guinea-Bissau (effective January 2016), Madagascar (effective February 2016) and Central African Republic (effective October 2016).

7 - 6 - Table 2. Key Input Data for FY17 Allocations Country Average of CPIA Clusters A, B & C CPIA Cluster D Portfolio Performance Rating (PPR) Country Performance Rating (CPR) a/ Population (million) b/ GNI per Capita (US$) b/ Africa Benin Burkina Faso Burundi Cameroon ,330 Cape Verde ,290 Central African Republic Chad Comoros NA Congo, Democratic Republic of Congo, Republic of ,540 Cote d'ivoire ,410 Eritrea n.a NA Ethiopia Gambia, The NA Ghana ,480 Guinea Guinea-Bissau Kenya ,340 Lesotho NA Liberia Madagascar Malawi Mali Mauritania NA Mozambique Niger Nigeria ,820 Rwanda Sao Tome and Principe NA Senegal ,000 Sierra Leone Somalia n.a. n.a. n.a NA Sudan n.a ,840 South Sudan Tanzania Togo Uganda Zambia ,490 Zimbabwe n.a East Asia and the Pacific Cambodia ,070 Kiribati ,230 Lao People's Democratic Republic ,730 Marshall Islands NA Micronesia, Federal States of NA Mongolia ,830 Myanmar NA Papua New Guinea NA Samoa ,930 Solomon Islands ,940 Timor-Leste ,920 Tonga NA Tuvalu NA Vanuatu NA Vietnam ,

8 - 7 - Table 2. Key Input Data for FY17 Allocations (continued) Country Average of CPIA Clusters A, B & C CPIA Cluster D Portfolio Performance Rating (PPR) Country Performance Rating (CPR) a/ Population (million) b/ GNI per Capita (US$) b/ Europe and Central Asia Kosovo ,950 Kyrgyz Republic ,170 Moldova ,220 Tajikistan ,240 Uzbekistan ,150 Latin America and the Caribbean Bolivia ,080 Dominica ,760 Grenada ,430 Guyana ,090 Haiti Honduras ,270 Nicaragua ,940 St. Lucia n.a ,390 St. Vincent and the Grenadines n.a ,660 Middle East and North Africa Djibouti NA Yemen, Republic of NA South Asia Afghanistan Bangladesh ,190 Bhutan ,370 Maldives ,670 Nepal Pakistan ,440 Sri Lanka ,800 Notes: a/ The CPR is calculated as 0.24 x CPIAA,B&C x CPIAD x PPR. For details on the CPR formula, see "Additions to IDA Resources: Seventeenth Replenishment. IDA17: Maximizing Development Impact, Annex 2. b/ The source for the population and GNI per capita data is the Development Economics Data Group (DECDG). Per capita data shown for 2015 are either actual figures or, when actual figures were not available, estimates as of June 2016, when the initial IDA country allocations for FY17 were determined. NA signifies countries for which data estimates were available in ranges only per earlier disclosure under OP 3.10, Annex C. Data queries on population and GNI per capita should be directed to DECDG. Memo item: Somalia, Sudan and Zimbabwe are classified as inactive IDA countries with credits in protracted non-accrual status, while Eritrea was classified as a country with credits in non-accrual status effective March 15,

9 - 8 - Table 3. FY17 IDA Allocations under the Crisis Response Window 1/ (SDR million) Country Note CRW Allocation Lesotho a/ 15 Madagascar a/ 14 Malawi a/ 14 Mozambique a/ 22 Ethiopia b/ 74 Kenya b/ 26 Somalia b/ 37 South Sudan b/ 37 Yemen b/ 91 Haiti c/ 73 Chad 58 Guinea 16 Liberia 15 Sierra Leone 15 TOTAL 506 1/ Indicative CRW amounts were originally allocated to countries in US dollar terms. Table 3 values reflect corresponding SDR figures at time CRW resources were committed under country-specific operations. Notes: a/ CRW resources in the amount of approximately SDR65 million (equivalent to US$90 million) were allocated to support the Bank s response to the El Niño-related drought in four countries: Madagascar (US$20 million), Malawi (US$20 million), Mozambique (US$30m) and Lesotho (US$20 million). See IDA Crisis Response Window Support for Lesotho, Madagascar, Malawi, and Mozambique for an El Niño Drought Response (IDA/SecM ), October 6, 2016 b/ CRW resources in the amount of approximately SDR264 million (equivalent to US$360 million) were allocated to support the Bank s bi-regional drought response in five countries: Yemen (US$125 million), Ethiopia (US$100 million), Kenya (US$35 million), South Sudan (US$50 million), and to international organizations for the benefit of Somalia (US$50 million). See "IDA Crisis Response Window Support for a Regional Drought Response in Africa and Middle East and North Africa" (IDA/SecM ), April 14, c/ CRW resources in the amount of approximately SDR73 million (equivalent to US$100 million) were allocated to support the Republic of Haiti in responding to the impact of Hurricane Matthew. See IDA Crisis Response Window Support for the Republic of Haiti - Emergency Recovery and Reconstruction Following the Impact of Hurricane Matthew (IDA/SecM ), January 24, 2017 CRW resources in the amount of approximately SDR104 million (equivalent to US$142 million) were allocated to support the Bank s response to commodity price shocks affecting four countries: Chad (oil, US$80 million), Guinea (metals and minerals, US$22 million), Liberia (metals, minerals and other, US$20 million) and Sierra Leone (metals and minerals, US$20 million). See IDA Crisis Response Window (CRW) Support for Liberia, Sierra Leone, Guinea and Chad in Response to the Commodity Price Shock (IDA/SecM ), October 3, 2016

10 - 9 - Table 4. FY17 Regional Allocations under the IDA17 Scale-up Facility Region SDR billion a/ AFR 1.69 EAP 0.19 ECA 0.07 LCR 0.06 MNA 0.00 SAR Notes: a/ Commitment authority under the IDA17 SUF was approved by Executive Directors in US dollar terms. Figures in Table 4 are for illustrative purposes and reflect SDR amounts corresponding to US$3.6 billion of IDA17 SUF resources remaining available for allocation as of July 1, 2016.