BLANK TEMPLATE FOR SIMPLE RESTRUCTURING



Document ofThe World BankFOR OFFICIAL USE ONLYReport No: RES13465Restructuring PAPERON APROPOSED Project restructuring of PUNJAB HEALTH SECTOR REFORM PROJECTCREDIT: 52580May 31, 2013TO THEIslamic republic of pakistanJANUARY 17, 2014Human Development Department South Asia Region This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.Regional Vice President:Philippe H. Le Houerou Country Director:Rachid BenmessaoudSector Manager:Julie McLaughlin Task Team Leader:Inaam Ul HaqPAKISTANPUNJAB HEALTH SECTOR REFORM PROJECT ContentsDATA SHEETA.SUMMARYPage 6B.PROJECT STATUS Page 6C.PROPOSED CHANGESPage 6DATA SHEETPakistanPunjab Health Sector Reform Project (P123394)SOUTH ASIASASHN.Report No:RES13465.Basic InformationProject ID: P123394Lending Instrument: Investment Project FinancingRegional Vice President: Philippe H. Le HouerouOriginal EA Category: Partial Assessment (B)Country Director: Rachid BenmessaoudCurrent EA Category: Partial Assessment (B)Sector Director: Jesko S. HentschelOriginal Approval Date: 31-May-2013Sector Manager: Julie McLaughlinCurrent Closing Date: 31-Dec-2017Team Leader: Inaam Ul Haq.Borrower:Economics Affairs Division, Government of PakistanResponsible Agency:Punjab Health Sector Reform Program, Department of Health, Government of Punjab.Restructuring TypeForm Type: Short FormDecision Authority: Country Director ApprovalRestructuring Level:Level 2.Financing ( as of 06-Dec-2013 )Key DatesProjectLn/Cr/TFStatusApproval DateSigning DateEffectiveness DateOriginal Closing DateRevised Closing DateP123394IDA-52580Not Effective31-May-201302-Dec-201331-Dec-201731-Dec-2017Disbursements (in Millions)ProjectLn/Cr/TFStatusCurrencyOriginalRevisedCancelledDisbursedUndisbursed% DisbursedP123394IDA-52580Not EffectiveXDR66.8066.800.000.0066.80.Policy WaiversDoes the project depart from the CAS in content or in other significant respects?Yes [ ]No [ X ]Does the project require any policy waiver(s)?Yes [ ]No [ X ].A. Summary of Proposed ChangesThe restructuring paper proposes to change the due date of the signing of the Grant Agreement (GA) for the Health Results Innovation Trust Fund (HRITF) to April 30, 2014 in the Financing Agreement (GA) to allow for prompt declaration of effectiveness. At present, the Credit cannot be made effective as an event of suspension specified in the FA, i.e., failure to sign the HRITF GA by August 31, 2013, has already occurred.? .B. Project StatusThe Punjab Health Sector Reform Project was approved on May 31, 2013, and its legal agreement was signed on December 2, 2013. The Bank has received the legal opinions on legal documents from the Government of Pakistan as well as the Government of Punjab, which are acceptable to the Bank. However, the Credit is yet to be effective due to the concerned clause in the FA..C. Proposed ChangesThe restructuring paper proposes to change the due date of the signing of the GA for HRITF to April 30, 2014, in the FA to allow for prompt declaration of effectiveness. SUMMARYThis Restructuring Paper seeks the approval of the Country Director to revise the due date of the signing of the Grant Agreement (GA) for the Health Results Innovation Trust Fund (HRITF) to April 30, 2014 in the Financing Agreement (FA) to allow for prompt declaration of effectiveness. At present, the Credit cannot be made effective as an event of suspension specified in the FA, i.e., failure to sign the HRITF GA by August 31, 2013, has already occurred.? PROJECT STATUSThe development objective of the project is to support the implementation of the Punjab Health Sector Strategy, by focusing on the improvement of the coverage and utilization of quality essential health services, particularly in the low performing districts of Punjab. To contribute to this objective, the project will focus on building the capacity and systems to strengthen accountability and stewardship in the Department of Health.The project was approved on May 31, 2013, and the legal agreements were signed on December 2, 2013 after six months from the Board approval. In anticipation of the signing of the legal agreements to take place within one or two months from the Board approval, the due date for the signing of the HRITF GA was originally set within three months from the Board approval. The signing of the legal agreements as well as the HRITF GA has been however delayed due to changes in the counterpart team during the political transition in Pakistan after the general elections in May 2013. The Bank has received the legal opinions on both the FA as well as the Project Agreement (PA) which are acceptable to the Bank. However, the Credit cannot be made effective as an event of suspension specified in the FA, i.e., failure to sign the HRITF GA by August 31, 2013, has already occurred.? The signing of the HRITF GA has been delayed due to changes in the counterpart team during the political transition in Pakistan after the general elections in May 2013. PROPOSED CHANGESThe Bank team is currently working out the details with the new counterpart team in the Department of Health, and it is envisaged that the detailed design for the activities supported through the HRITF Grant and the GA for HRITF will be ready to be signed in next two months. The restructuring paper therefore proposes to revise the due date of the signing of HRITF GA to April 30, 2014 (Article IV, Section 4.01 (d) of the FA). Another dated covenant in the PA (Schedule, Section I. D), i.e., the approval of a package of essential health care services for primary care by no later than December 31, 2013, is deemed complied. The DoH has finalized the package and is currently preparing the notification, which is expected to be available by the end of January 31, 2014. Upon the approval of the proposed project restructuring, the Credit will immediately become effective, as eagerly awaited by the Governments of Pakistan and Punjab. The advance payment of US$17 million will be disbursed to the Government of Punjab upon effectiveness. ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download