world bank document · 2017. 12. 1. · restructuring paper on a proposed project restructuring of...

The World BankSt. Petersburg Economic Development Project (P069063)

REPORT NO.: RES30347

RESTRUCTURING PAPER

ON A

PROPOSED PROJECT RESTRUCTURING

OF

ST. PETERSBURG ECONOMIC DEVELOPMENT PROJECT

APPROVED ON MAY 15, 2003

TO

THE RUSSIAN FEDERATION

SOCIAL, URBAN, RURAL AND RESILIENCE GLOBAL PRACTICE

EUROPE AND CENTRAL ASIA

Regional Vice President: Cyril E Muller Country Director: Andras Horvai

Senior Global Practice Director: Ede Jorge Ijjasz-VasquezPractice Manager/Manager: David N. Sislen

Task Team Leader: Tatyana Shadrunova

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ABBREVIATIONS AND ACRONYMS

CIF Cultural Investment Facility

EMP Environmental Management Plan

FM Financial Management

FISP

GDP

St. Petersburg Foundation for Investment Projects

Gross Domestic Product

ICRR Implementation Completion and Results Report

ISRs Implementation Status Reports

LA Loan Agreement

MOC Ministry of Culture of the Russian Federation

MOF Ministry of Finance of the Russian Federation

M & E Monitoring and Evaluation

PAD Project Appraisal Document

PDO Project Development Objective

PIU Project Implementation Unit

POM Project Operational Manual

RF

SME

SPEDP

Russian Federation

Small and Medium Enterprises

St. Petersburg Economic Development Project


BASIC DATA

Product Information

Project ID Financing Instrument

P069063 Investment Project Financing

Original EA Category Current EA Category

Financial Intermediary Assessment (F) Financial Intermediary Assessment (F)

Approval Date Current Closing Date

15-May-2003 31-Dec-2017

Organizations

Borrower Responsible Agency

Ministry of Finance of the Russian Federation Ministry of Culture of the Russian Federation

Project Development Objective (PDO)

Original PDO1) Policy and regulatory environment is conducive to the expansion of private sector enterprises; 2) Larger and more efficient private market for land and real estate; 3) Improved City fiscal management capacity; 4) City to preserve its comparative advantage in culture and the arts.OPS_TABLE_PDO_CURRENTPDOSummary Status of Financing

Ln/Cr/Tf Approval Signing Effectiveness ClosingNet

Commitment Disbursed Undisbursed

IBRD-46940 15-May-2003 04-Aug-2004 24-Jan-2005 31-Dec-2017 101.10 98.72 2.38

Policy Waiver(s)

Does this restructuring trigger the need for any policy waiver(s)?No


I. PROJECT STATUS AND RATIONALE FOR RESTRUCTURING

1. St. Petersburg Economic Development Project (SPEDP, US$101.1 million) was approved in May 15, 2003, and became effective in January 24, 2005. The Project’s PDO is to ‘support the City in its efforts to accelerate the implementation of key elements of the Strategic Plan, which was designed to enhance the city's prospects for sustainable economic growth in the medium- and longer term, and preserve its comparative advantage in culture and the arts’.

2. Progress towards the achievement of the Project Development Objectives (PDO) has been satisfactory since Project effectiveness. Disbursements are at 98 percent; the remaining loan amount is US$2.4 million. All activities, envisaged under the SPEDP loan agreement, have been successfully completed with the PDO indicators met, including increase in the number of new Small and Medium Enterprises (SMEs), increase in private transactions for land and real estate, credit rating by international credit rating agency, and increase in the number of city visitors. The Project has supported the Russian Government and St. Petersburg in leveraging the city’s cultural heritage to generate investments, job opportunities, and tourism revenues (tourism accounts for 11% of the city’s GDP). For example, 130 jobs (120,000 labor days) were created during the restoration works at the St. George Hall of the Russian Museum’s Engineering Castle; 140 jobs (145,000 labor days) during the rehabilitation of the Russian Museum’s Corp-de-Guards pavilions; and another 1,300 employees (2 million labor days) during the reconstruction and restoration of the State Hermitage East Wing. The buildings and sites benefitting from the SPEDP have become accessible to physically challenged people.

3. The Ministry of Finance (MOF) of the Russian Federation (RF) and the Ministry of Culture (MOC) of the RF have jointly approached the Bank to consider an option of allocating additional Borrower’s budget funds of US$ 20.0 million to implement one of the two remaining sub-projects which were appraised and initially planned under the SPEDP – namely, rehabilitation of two inner courtyards of the Mikhailovsky Palace of the State Russian Museum. Initially SPEDP was to finance a strategically selected set of eleven iconic cultural heritage assets within the city. Together, these constitute a 'tourism circuit’ that draws both local and international visitors.

4. Nine of these investments have been completed1 and following their rehabilitation have transformed the city center, reversing its degradation and decay and providing significant positive spillover effects on tourism- related activities, creative industries, and job creation. The Russian Museum inner courtyards sub-project was originally appraised under the SPEDP but was dropped at the implementation stage and excluded from the list of sites to be financed under the SPEDP loan at the Borrower’s request as the benefiting cultural institution was unable to vacate the premises prior to the start of the works. This constraint has been addressed, and the subproject can now be implemented. In 2016, the SPEDP closing date was extended until December 31, 2017 to allow the Borrower to finalize the updated design of the Russian Museum subproject. The updated design is now finalized and approved by all the Russian state expertize bodies. The MOF signed the official request for restructuring on September 29, 2017 and submitted it to the Bank.

5. The State Russian Museum is a long-standing counterpart of the Bank. Three sites of the Russian Museum were included in the original design of the SPEDP project and have been successfully implemented. As a result of implementation of these subprojects, the Russian Museum received 777.9 square meters of added exhibition space, 1,500 square meters of added lecture facilities, and 1,200 square meters of added training space. More details on completed subprojects and their results are provided in the Table below.

1 East Wing of the former General Staff Building of the State Hermitage, Shostakovich State Academic Philharmonia, Peter and Paul Fortress, Temple of Friendship of Pavlovsk State Museum and Conservation Area, St. George Hall and Corps de Gardes Pavilions of Mikhailovsky Palace of the State Russian Museum, Winter Garden of the Marble Palace of the State Russian Museum, Turkish Bath Pavilion and Hermitage Kitchen and Park of the State Tsarskoe Selo Museum


Name of the Russian Museum subproject

Condition Prior to Project

Post-Project Condition

Rehabilitation of two Corp-de Gardes in the Mikhailovsky Castle

Corp-de-Gardes pavilions were dilapidated and not used for any activities

The West Corp-de-Garde pavilion functions as a museum visitor center (using multimedia) and serves as a subsidiary of the Virtual Russian Museum with weekly videoconferences covering current exhibitions at the Russian Museum which are broadcast to news and learning centers opened by the Russian Museum in the regional art museum in the country. The East Corp-de-Garde pavilion is being used as a Children’s educational and art center. It became a home to the Russian Center for Museum Pedagogical Sciences and Children’s Crafts, which is an associated member of the Russian Academy of Education and Research and Methodology Center for Russia’s Art Museums. Every year the Center arranges training events for some 30 000 children from St. Petersburg and the Leningrad Oblast, and for nearly 15,000 children from Russian regions. Both pavilions are accessible to visitors with limited mobility.

Restoration of St. George Hall and entrance (grand stairway, Gallery and “Oval” room) of the Mikhailovsky Castle

St. George Hall and its entrance zone were in a poor state, not used for exhibition or public activities

St. George Hall and its entrance zone have been fully restored and are now open to the public. The St. George Hall is on the main visitor’s tour. It now serves as a top venue for ceremonials (G8 ministerial meetings, Inter-Parliamentary Assembly, St. Petersburg Economic Forum), national and international cultural and legal forums, and public events, such as poetic and musical soirees, especially during the “white nights” season, Young Russian Poets contest dedicated to Grand Duke Konstantin Romanov.

Restoration of the Winter Garden in the Marble Palace

Winter Garden was in poor condition and not open to the public

The Winter Garden of the Marble Palace has been repaired, restored and is now open to the public.

Therefore, supporting the restoration of the inner courtyards would be a natural continuation of this collaboration to complete the tourist circuit as originally planned. It will also make use of the already well-functioning mechanisms put in place by the Bank-financed project, as well as the Project Implementation Unit’s technical expertise and its strong capacity to effectively supervise the implementation of this subproject. The physical condition of the site has further deteriorated since the original project appraisal, making the restoration increasingly more urgent.

6. Design documentation for the inner courtyards subproject has been revised to reflect its current state and condition, and to comply with recent Russian legislation on safety and fire protection. All the revised design documentation was duly endorsed by the Russian State Expertize bodies. The economic analysis of the inner courtyards sub-project was also conducted in 2014 and is available in the project files. After the restoration and reconstruction works financed by the Project, the Mikhailovsky Palace of the Russian Museum will receive a separate entrance area for unassisted access of disabled visitors with fully adapted and equipped restrooms, a cloakroom and an elevator which will allow them to reach all the floors of the Mikhailovsky Palace. The new lecture room on the first floor of the first inner yard will be used for group classes for children, social rehabilitation groups for the disabled, including disabled children. To this end, the Russian Museum already signed 52 service contracts with Centers for Social Rehabilitation, and it is expected that the museum will admit up 10,000 physically challenged people, including children, annually.

7. The proposed restructuring includes (i) a 3.5-year extension of the Project closing date from the current closing date of December 31, 2017 to June 30, 2021; (ii) an increase of the share of the Borrower’s co-financing (the MOF is going to allocate an additional US$20 million); and (iii) a reallocation of funds between the expense categories so as to consolidate all remaining Bank loan funds (US$2.4 million) under the categories which will finance the Russian Museum’s subproject and operating costs of the Project Implementation Unit. Furthermore, it is proposed to amend the respective sections of the Loan Agreement to include the rehabilitation of the inner courtyards in the list of


cultural assets under Part A of the Project (Rehabilitation of Cultural Assets in St. Petersburg), as well as include services of an engineer-consultant and author’s supervision to carry out the works on rehabilitation of inner courtyards under Part D (Project Implementation). Also, it is proposed to use a portion of funds under Part D (Project Implementation) for consultant services to assess the effectiveness of the Project supported activities and their results.

8. The restructuring will not change the PDO and associated outcomes. At the same time, there will be intermediate indicators proposed to track the subproject implementation progress and consolidate the Project results. Composition of the Project’s components and the Project institutional arrangements will also remain unchanged.

9. Since the cumulative extension of the Loan Closing Date exceeds two years, it requires the Bank Regional Vice-President decision.

10. There are no outstanding audits under the Project. All audit and financial management reports have been submitted in time and found to be acceptable to the Bank. Both Procurement and Safeguards compliance are satisfactory, and no safeguards related issues have been reported.

II. DESCRIPTION OF PROPOSED CHANGES

11. Summary of Proposed Changes. In response to the Borrower’s request of September 29, 2017, this restructuring paper seeks (i) a 42 month extension of the SPEDP closing date from December 31, 2017 until June 30, 2021; (ii) an increase of the share of the Borrower’s co-financing under newly introduced Category 1 (b) “Works and consultants’ services under Parts A, D2 and D3 of the Project for two inner courtyards of the Mikhailovsky Palace of the State Russian Museum and assessment of the effectiveness of the Project supported activities”; (iii) reallocation of funds from Categories 1, 1(a), 2(b), 3(a), 3(b) to Categories 2(b) and (4); and introduction of new intermediate indicators to the Results Framework to track the inner courtyards subproject implementation progress and consolidate the Project results.

12. The extension of closing date is needed to provide sufficient time for completion of all activities related to the rehabilitation of inner courtyards of the State Russian Museum. The funds to support the implementation of this contract will be provided from the increased share of the Borrower’s co-financing (US$ 20 million). The Borrower’s rationale for the proposed 42-month extension is driven by the estimated time needed for tendering and completing restoration works.

13. The reallocation of funds between Categories is required to accumulate all remaining undisbursed Bank loan funds (US$2.4 million) under the categories which will finance activities related to the implementation of the Russian Museum subproject, assessing the effectiveness of the Project investments, as well as ensuring adequate operating costs during the extended Project implementation period to secure proper functioning of the Project Implementation Unit (PIU) which is responsible for day-to-day project implementation and monitoring. The proposed reallocation of funds from Categories 1, 1(a), 2(b), 3(a), 3(b) to Category 1(b) “Works and consultants’ services under Parts A, D2 and D3 of the Project for two inner courtyards of the Mikhailovsky Palace of the State Russian Museum and assessment of the effectiveness of the Project supported activities” and Category 4 “Operating Costs (Part D1 of the Project) is presented below:

Additional Allocation per CategoriesCategory Category 1(B) Category 4

1 “Works under Part A of the Project except for the State Hermitage Museum and Phase 2 of the Rehabilitation of two Corp-de Gardes in the Mikhailovsky Palace of the State Russian Museum” US$ 700.001(A) “Works under Part A of the Project for the State Hermitage Museum and for Phase 2 of Rehabilitation of two Corp-de Gardes in the Mikhailovsky Palace of the State Russian Museum” US$ 1,887,500.00


2(B) “Consultants’ services under Part D2 of the Project”US$ 384,200.00 US$86,900.00

3(A) “Goods and works financed under CIF Sub-projects”US$ 70,500.00

3(B) “Consultants’ services financed under CIF Sub-projects” US$ 3,500.00Total amount re-allocated US$ 2,271,700.00 US$ 161,600.00

14. Change in Components and Cost. There is no change in the structure of the Project components and their names. The costs allocated for each of the components have been revised to reflect the proposed reallocation of funds.

15. Change in Results Framework. The proposed restructuring does not entail any changes to the PDO and the PDO indicators. All original targets have been met. However, target values for the SPEDP intermediate indicator on the number of completed sub-projects under sub-component "Rehabilitation of Cultural Assets in St. Petersburg” is increased from 9 to 10 to capture the inner courtyards site. Furthermore, to monitor the implementation of the inner courtyard sub-project and consolidate the Project results, additional intermediate indicators are introduced as follows:

Number of cultural institutions’ sites rehabilitated under the Project that provide improved unassisted access for people with disabilities

Number of cultural institutions’ sites rehabilitated under the Project with improved visitor facilities Increased usable floor space for public cultural activities and events in the Mikhailovsky Palace of the Russian

Museum due to the Project Added floor space for restauration workshops at the Mikhailovsky Palace of the Russian Museum due to the

Project Increased number of visitors in the Mikhailovsky Palace of the Russian Museum per year Increase in earnings generated by the Mikhailovsky Palace of the State Russian Museum from public events,

workshops, and lectures (Russian Rubles)

16. The disbursement estimates and implementation schedule are revised to reflect the extended Project Closing Date.

17. Other Changes. Paragraph 2 of Part A, Schedule 2 “Description of the Project” of the Loan Agreement will be amended to include the rehabilitation of the Russian Museum inner courtyards in the list of cultural assets under Part A of the Project (Rehabilitation of Cultural Assets in St. Petersburg). Furthermore, Paragraph 2 of Part D (Project Implementation) of Schedule 2 of the Loan Agreement will be amended to include provision of services of an engineer-consultant and author’s supervision to carry out the works on rehabilitation of inner courtyards; and to include provision of consultant services to assess the effectiveness of the Project supported activities and their results.

18. There will be no changes in the institutional and implementation arrangements. The Project will continue to follow the existing Project Operational Manual.

19. The restructuring will not lead to any changes to safeguards policies. The Project’s environmental category does not change and will remain Category B, and there are no new safeguards policies triggered. The safeguards issues of the civil works to be supported under the restructured project are in line with and can be addressed by the exiting project Environment Management Plan (EMP) which is also part of the Project Operational Manual (POM). The EMP was updated in May 2014 to reflect changes in the Russian regulatory environment. No changes regarding types and scale of impacts or proposed mitigation measures were made. Effectiveness of the EMP has been demonstrated by the Highly Satisfactory ratings for Safeguards in the SPEDP Implementation Status Reports (ISRs), and there is no need for revision. FISP has a designated safeguards specialist with an extensive track record in implementing the SPEDP and Preservation and Promotion of Cultural Heritage Project and has received training by the World Bank.

20. The subproject will exclusively finance the repair and rehabilitation of the existing historic building that belongs to the Federal Government. Environmental impact from construction activities may include dust, noise, and other


construction-related local and temporary inconveniences such as a temporary increase in heavy vehicle traffic. To mitigate such adverse environmental impacts, contractors will be required to follow environmentally sound construction practices and incorporate include environmental safety requirements into the technical specifications and contracts for civil works. Compliance with such instructions will be closely monitored during implementation, as it was done under completed SPEDP activities. Possible environmental issues arising from these activities will continue to be addressed through appropriate instructions, respectively in the EMP and the Operations Manual environmental assessment guidelines updated by the PIU.

21. The implementation of the inner courtyards subproject will not require land acquisition and will not result in involuntary resettlement as the targeted building is owned by the Federal Government. The project focuses exclusively on preservation of existing cultural properties. It will continue to support the protection of high priority cultural heritage assets from further deterioration, increase the capacity of cultural institutions that will be using the rehabilitated sites, improve the operational safety and efficiency of facilities for both visitors and personnel, ensure the security of art objects currently on display, and safeguard other cultural assets from physical damages, theft or other hazards. The restoration and rehabilitation works will primarily include the repair and upgrading of buildings. The SPEDP will not alter the current low- tariff easy-access conditions to cultural events and monuments or the extensive educational out-reach programs enjoyed by all Russian citizens. Throughout the project, the number and outreach of such programs, as well as event capacity of the Russian Museum, will be expanded. Moreover, both the rehabilitation of the inner Courtyards will improve access to physically challenged visitors.

22. Since the intended primary project impact is to rehabilitate the physical cultural assets, a gender lens or specific gender activities were not considered relevant for SPEDP design. Disaggregating the different project outcomes between men and women will not be attempted. It is expected that the project will indirectly benefit patrons (including disabled people), artists and employees across gender boundaries. Nevertheless, an effort will be made to collect data with regard to gender dimensions to inform the Project Completion and Results Report (ICRR) as part of activities aimed to assess the effectiveness of the Project investment which are planned to be conducted during the extended Project implementation period.

III. SUMMARY OF CHANGES

Changed Not Changed

Change in Results Framework ✔

Change in Components and Cost ✔

Change in Loan Closing Date(s) ✔

Reallocation between Disbursement Categories ✔

Change in Disbursement Estimates ✔

Change in Implementation Schedule ✔

Other Change(s) ✔

Change in Implementing Agency ✔

Change in DDO Status ✔

Change in Project's Development Objectives ✔


Cancellations Proposed ✔

Change in Disbursements Arrangements ✔

Change in Overall Risk Rating ✔

Change in Safeguard Policies Triggered ✔

Change of EA category ✔

Change in Legal Covenants ✔

Change in Institutional Arrangements ✔

Change in Financial Management ✔

Change in Procurement ✔

Change in Economic and Financial Analysis ✔

Change in Technical Analysis ✔

Change in Social Analysis ✔

Change in Environmental Analysis ✔

IV. DETAILED CHANGE(S)

OPS_DETAILEDCHANGES_RESULTS_TABLE

RESULTS FRAMEWORK

Project Development Objective Indicators PDO_IND_TABLE

More competitive environment due to 10% p.a. increase in number of new SMEs registered in SPB.Unit of Measure: NumberIndicator Type: Custom

Baseline Actual (Current) End Target Action

Value 96900.00 228000.00 141871.00 No Change

Date 31-Dec-2003 31-Dec-2007 31-Dec-2007

5% p.a. increase in private transactions for land and real estate.Unit of Measure: NumberIndicator Type: Custom


Value 90402.00 212352.00 115379.00 No Change

Date 31-Dec-2002 31-Dec-2007 31-Dec-2007

Credit rating by international credit rating agency


Unit of Measure: TextIndicator Type: Custom


Value

Fitch IBCA: BB (positive) S&P: BB (stable) Moody's: Ba2 (Figures are for 2003)

Moody's: Baa1 (Stable); Fitch: BBB (Stable), S&P: BBB (stable)

Creditworthy status achieved and maintained

No Change

Date 31-Dec-2003 31-Mar-2014 31-Aug-2009

Growth in tourism 8%p.a.Unit of Measure: NumberIndicator Type: Custom


Value 2737685.00 6900000.00 4022557.00 No Change

Date 31-Dec-2002 30-Sep-2017 31-Aug-2009

Intermediate IndicatorsIO_IND_TABLE

Divestiture of City owned enterprisesUnit of Measure: TextIndicator Type: Custom


ValueBaseline value is zero as this is the start of the process

Reduction of the number of City-owned or City-controlled commercial enterprises in St. Petersburg though diversiture or other means, including but not limited to SUEs, achieved and maintained in 2007

Reduction of the number of City-owned or City-controlled commercial enterprises in St. Petersburg though diversiture or other means, including but not limited to SUEs, achieved and maintained

No Change

Date 01-Jan-2002 31-Dec-2007 31-Dec-2007

Number of completed sub-projects under sub-component "Rehabilitation of Cultural Assets in St. Petersburg"Unit of Measure: NumberIndicator Type: Custom



Value 0.00 9.00 10.00 Revised

Date 24-Jan-2005 15-Nov-2017 30-Jun-2021

Number of completed sub-projects under "Cultural Investment Facility" sub-componentUnit of Measure: NumberIndicator Type: Custom


Value 0.00 32.00 20.00 No Change

Date 24-Jan-2005 26-Nov-2013 31-Dec-2013

Cultural Investment Facility (CIF) resources fully committed by end of fourth year of project implementation and completion of all CIF operations by end of projectUnit of Measure: TextIndicator Type: Custom


Value

Baseline is zero, as it is start of the project: no CIF funds committed and no CIF operations completed

All CIF funds (US$ 7.99 mln. of loan amount) are fully committed; and implementation of all CIF subprojects financed from the awarded CIF grants is successfully completed

All CIF funds (US$ 7.99 mln. of loan amount) are fully committed; and implementation of all CIF subprojects financed from the awarded CIF grants is successfully completed

No Change

Date 24-Jan-2005 16-May-2014 31-Dec-2013

Number of viable/sustainable applications submitted by participants to St. Petersburg Cultural Committee as a result of completion of the Staff Reserve programUnit of Measure: NumberIndicator Type: Custom


Value 0.00 30.00 20.00 No Change

Date 26-Feb-2009 30-Dec-2010 30-Dec-2010

Number of cultural institutions’ sites rehabilitated under the Project that provide improved unassisted access for people with disabilitiesUnit of Measure: NumberIndicator Type: Custom



Value 0.00 5.00 6.00 New

Date 31-Jan-2005 15-Nov-2017 30-Jun-2021

Increased usable floor space available for public cultural activities and events at the Mikhailovsky Palace of the Russian Museum due to the ProjectUnit of Measure: Square Meter(m2)Indicator Type: Custom


Value 0.00 0.00 100.00 New

Date 15-Nov-2017 15-Nov-2017 30-Jun-2021

Number of cultural institutions’ sites rehabilitated under the Project with improved visitor facilitiesUnit of Measure: NumberIndicator Type: Custom


Value 0.00 9.00 10.00 New

Date 31-Jan-2005 15-Nov-2017 30-Jun-2021

Number of visitors in the Mikhailovsky Palace of the Russian Museum per yearUnit of Measure: NumberIndicator Type: Custom


Value 160000.00 160000.00 168500.00 New

Date 15-Nov-2017 15-Nov-2017 30-Jun-2021

Added floor space for restauration workshops at the Mikhailovsky Palace of the Russian Museum due to the ProjectUnit of Measure: Square Meter(m2)Indicator Type: Custom


Value 60.00 60.00 140.00 New

Date 15-Nov-2017 15-Nov-2017 30-Jun-2021

Increase in earnings generated by the Mikhailovsky Palace of the State Russian Museum due to public events, workshops and lecturing activities (Russian Rubles)Unit of Measure: NumberIndicator Type: Custom



Value 48000000.00 48000000.00 50600000.00 New

Date 15-Nov-2017 15-Nov-2017 30-Jun-2021

OPS_DETAILEDCHANGES_COMPONENTS_TABLE

COMPONENTS

Current Component Name

Current Cost

(US$M)Action Proposed

Component NameProposed

Cost (US$M)

Rehabilitation of Cultural Assets in St. Petersburg 80.40 Revised Rehabilitation of Cultural

Assets in St. Petersburg 81.14

Cultural Investment Facility (CIF) 7.99 Revised Cultural Investment Facility (CIF) 7.55

Institutional Strengthening 0.47 No Change Institutional Strengthening 0.47

Project Implementation 10.62 Revised Project Implementation 10.32

TOTAL 99.48 99.48

OPS_DETAILEDCHANGES_LOANCLOSING_TABLE

LOAN CLOSING DATE(S)

Ln/Cr/Tf StatusOriginal Closing

Revised Closing(s)

Proposed Closing

Proposed Deadline for Withdrawal

Applications

IBRD-46940 Effective 31-Aug-2009

01-Jul-2012, 31-Dec-2013, 31-Dec-2014,

31-Dec-2015, 31-Dec-2016, 31-Dec-

2017

30-Jun-2021 30-Oct-2021

OPS_DETAILEDCHANGES_REALLOCATION _TABLE

REALLOCATION BETWEEN DISBURSEMENT CATEGORIES

Current Allocation Actuals + Committed Proposed Allocation Financing %(Type Total)

Current Proposed

IBRD-46940-001 | Currency: USD


iLap Category Sequence No: 1 Current Expenditure Category: IBRD46940 WORKS UNDER PART A

34,024,000.00 34,023,247.66 34,023,300.00 49.00 49.00

iLap Category Sequence No: 1(A) Current Expenditure Category: IBRD46940 WORKS-HERMITAGE MUSEUM

46,736,000.00 44,848,135.68 44,848,500.00 1

iLap Category Sequence No: 2 Current Expenditure Category: IBRD46940 CONS. SVS-PARTS C&D

0.00 0.00 0.00 0

iLap Category Sequence No: 2(A) Current Expenditure Category: IBRD46940 CONS. SVS-PARTS C&D3

849,000.00 844,938.18 849,000.00 0

iLap Category Sequence No: 2(B) Current Expenditure Category: IBRD46940 CONS. SVS-PART D2

5,250,000.00 4,724,134.37 4,778,900.00 5

iLap Category Sequence No: 3(A) Current Expenditure Category: IBRD46940 GOODS&WORKS CIF GRAN

7,400,000.00 7,329,396.79 7,329,500.00 80.00 80.00

iLap Category Sequence No: 3(B) Current Expenditure Category: IBRD46940 CONS.SERV-CIF GRANTS

230,000.00 226,319.92 226,500.00 0

iLap Category Sequence No: 4 Current Expenditure Category: IBRD46940 OPERATING COSTS

5,000,000.00 4,991,474.39 5,161,600.00 11

iLap Category Sequence No: 5 Current Expenditure Category: IBRD46940 TRAINING-PART C

0.00 0.00 0.00 100.00 100.00

iLap Category Sequence No: 6(A) Current Expenditure Category: IBRD46940 TRANCHE I

0.00 0.00 0.00 100.00 100.00


iLap Category Sequence No: 6(B) Current Expenditure Category: IBRD46940 TRANCHE II

0.00 0.00 0.00 100.00 100.00

iLap Category Sequence No: 1(B)Current Expenditure Category: IBRD46940 WORK&CONSULTANT SERVICES UNDER PARTSA,D2,D3 ON RUSSIAN MUSEUM INNTER COURTYARDS SUBPROJECT AND SPEDP EVALUATN

0.00 0.00 2,271,700.00 11

Total 99,489,000.00 96,987,646.99 99,489,000.00

OPS_DETAILEDCHANGES_DISBURSEMENT_TABLE

DISBURSEMENT ESTIMATES

Change in Disbursement EstimatesYes

Year Current Proposed

2003 0.00 0.00

2004 0.00 0.00

2005 5,427,969.10 5,427,969.10

2006 3,896,185.84 3,896,185.84

2007 12,929,930.92 12,929,930.92

2008 18,399,621.65 18,399,621.65

2009 19,300,836.29 19,221,103.00

2010 16,748,000.00 15,663,358.00

2011 9,926,000.00 9,078,379.00

2012 6,800,000.00 10,700,509.00

2013 6,450,000.00 3,201,159.00

2014 1,221,456.20 200,000.00

2015 0.00 0.00

2016 0.00 0.00

2017 0.00 0.00

2018 0.00 100,000.00


2019 0.00 253,800.00

2020 0.00 1,267,500.00

2021 0.00 760,500.00

world bank document · 2017. 12. 1. · restructuring paper on a proposed project restructuring of...

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