ARTF Administrator s Report on Financial Status As of December (end of Jadi - 9th month of SY1390)

Transcription

1 ARTF Administrator s Report on Financial Status As of December (end of Jadi - 9th month of SY1390) 1. Donor pledges and contributions for SY1390. Total donor pledges for SY1390 amount to US$ million, of which US$ million (59%) are without preference and US$ million (41%) are with preference. Table 1 reflects total donor pledges including those amounts already paid-in for SY1390. Table 1: ARTF Contributions and Pledges for SY1390, as of December (in US$ million) Total of which % of % of Main Contributions/ without total paid-in total Donors Pledges Preference Pledges paid-in United States % % United Kingdom % Germany % Canada % % Norway % % EC/EU % % Australia % % Netherlands % % Sweden % Japan % % Italy % % Denmark % Others % % Total % % 2. Consolidated ARTF Sources and Uses of Funds for SY1390 Table 2 presents sources and uses of funds for SY1390 on a consolidated basis as of December The sources of funds are net donor contributions, investment income less administration fees and the cash balance carried forward from SY1389. As of December 21, 2011, the committed cash balance stood at US$ million comprising: (a) US$97.93 million in the Recurrent Cost Trust Fund (excluding the US$50 million in the designated Account); (b) combined undisbursed balance of the ARTF active investment portfolio of US$ million; and (c) US$10.84 million reserved for the Recurrent cost and Investment Window Monitoring Agents, leaving a net unallocated cash balance of US$ million. 1

2 Table 2: ARTF Consolidated Sources and Uses of Funds (US$ million, December ) SY 1381 SY 1382 SY 1383 SY 1384 SY 1385 SY 1386 SY 1387 SY 1388 SY 1389 SY 1390 Total Total Total Total Total Total Total Total Total Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual SOURCES OF FUNDS (A+B) A. Net Donors Contributions (A1-A2) A.1. Donors Contributions A.2. IDA fees minus Investment Income A.3. Refund of Ineligible Expenditure B. Cash Carried-Over (=D previous year) USES OF FUNDS (C+D) C. Disbursements (C1+C2+C3+C4) ¹ C.1 Recurrent window - Disbursed by DAB Wages O&M Other C.2. Investment window C.3. Pass-through to LOTFA (UNDP Police) C.4. Fees to monitoring agent D. Cash Balance (end-of-period) (A+B-C=D1+D2) D.1. Committed Cash Balance: to recurrent window special account to recurrent window Trust Fund undisbursed investment window balance to Monitoring Agent D.2. Unallocated Cash Balance A.3. Refund of MISFA ineligible expenditure received after project closure. Hence refund booked directly to the Parent TF account and shown separately in this report. D.2. Unallocated cash balance refers to funds in the ARTF parent account that the MC has not formally committed. During the Solar Year they will be committed in line with the ARTF Financing Strategy. 3. Recurrent Cost Financing Requirements For SY1390 a ceiling of US$270 million was set by the Management Committee, in accordance with the framework for the Recurrent Cost Window established by the ARTF Incentive Program. The ceiling was made up of US$200 million in base recurrent cost, plus US$70 million in incentive funds. The incentive funds are, however, subject to an active IMF program. As a new IMF program was not yet in place by June 2011, donors made the decision to cancel the incentive funds of $70 million for SY1390. As a result the recurrent cost financing ceiling for SY1390 is now US$200 million. The SY1390 opening balance in the Recurrent Cost Window was US$ million, which has now been disbursed. Following the approval of the IMF program on November 14, 2011, transfers from the first two quarters of SY1390 totalling US$100 million were transferred to the Recurrent Cost account. On December 13, 2011 MC has approved an amount of US$52.07 (3 rd quarter transfer of US$50 million and undisbursed expenditures of $2.07 million from SY1389). The US$2.07 million for SY1389 expenditures was disbursed in December 2011, while the 3 rd tranche of US$50 million only transferred after the closing of the reporting period. 2

3 Table 3: Recurrent Cost Financing Requirement for SY1390 (in US$ million) Table 3 - ARTF Recurrent Cost Investment Windows As of : December 21, 2011 SY1389 SY1390 Projected SY Total Q1 Q2 Q3 Q4 Consolidated Actual Total Opening Balance Commitment (Transfer) Disbursements Closing Balance Opening balance do not include Recurrent cost special account balance of US$50 million. 2. Total funding for SY1390 is US$200 million. 3. SY1390 No allocations were made during Q1 & Q2 period. At the end of 3rd quarter MC has approved and allocated an amount of US$ million for RC, this include unallocated SY1389 balance of US$2.07 million. The balance of $50 million will be submitted to MC during final quarter of SY At the end of SY1390 quarter 3, a total of US$26.64 million disbursed. 3

4 Table 4 - ARTF Financing Strategy Inputs (US$m) SY 1389 SY 1390 SY 1391 Notes & Results Indicators Donor Estimates for ARTF Contributions 1,000 1, Rounded estimates of donor funds available RC Window (including Incentive Program) (285) (270) (245) Improved effectiveness of public sector governance, monitored in the Performance Assessment Framework. Linked to the ARTF Incentive Program. Investment window envelope Summary: Sector Investments Sector Objectives Agriculture 62 9% 45 6% 40 6% Increases in agricultural productivity Rural Development % % % Inclusive local governance & access to social & productive infrastructure Infrastructure % % % Increased access to electricity & irrigated land. To be developed. Human Development % % 84 13% Increased access to quality basic, higher & tertiary education; continued improvements in health care outcome indicators Public Sector Capacity & Governance 40 6% 50 7% 30 5% Expanding PFM systems to provincial level; increased capacity in the justice sector; increased managerial capacity of line ministries Total % % % Project Level Breakdowns by Sector Sector 1: Agriculture Agriculture Program Targets Horticulture & Livestock Program Increased productivity of farmers in 11 focus districts. Agricultural Inputs Supply Project Under preparation. On-farm Water Management Under preparation. Irrigation (EIRP Scale Up) Hectares of irrigated Land & agricultural yield Sector 2: Rural Development Rural Development Program Targets National Solidarity Program Inclusive local governance - roll-out of CDCs across the country & introduction of NSP III. Rural Access Roads (NERAP) Kms of rehabilitated roads & % of connected villages in Afghanistan Rural Electrification Financing rural access to rural and other areas not likely to get main grid based access (current access very low around 10%) Microfinance (& SME Financing) Sustainability of MFIs and increased access to financial services across the country. Sector 3: Infrastructure Infrastructure Program Targets Power Supply Project (NEPS) Supporting restoration of damaged infrastructure for power supply along NEPS (ongoing) & increasing urban access to electricity (to be prepared). New irrigation project (TBD) Under preparation. New infrastructure projects (TBD) 50 ` Under preparation. Sector 4: Human Development Human Development Program Targets Basic education (EQUIP) Communities access school grants and schools receive quality grants; teachers trained; 3,000 female teacher preparation scholarships. Higher education (SHEP/NHES) Restoring basic operational performance in various faculties in the following universities: Kandahar, Nagahar, Heart and Balkh. Skills/vocational education (NIMA) Construction of NIMA campus, training of trainers for NIMA and DMTVET staff, Curriculum Development Basic package of healthcare (BPHS) Reduction in under 5 mortality and maternal mortality. Sector 5: Public Sector Capacity/Governance Public Sector Capacity & Governance Program Targets Management Capacity Program Government ministries access managerial capacity to lead ministry programs & reforms. Justice sector Strengthened central justice system & increased access to justice for Afghans. Public finance management Continued improvements in public finance management, including roll-out of AFMIS to provincial level. Un-allocated cash at end of year (299) 4

5 Table 5 - Actual and Expected Donor Contributions Paid-In, Committed, Pledged (US$ Million) December 21, 2011 SY 1381 SY 1382 SY 1383 SY 1384 SY 1385 SY 1386 SY 1387 SY 1388 SY 1389 Donor Total Total Total Total Total Total Total Total Total Total Signed Un-signed Total % of Total Total % of Total Total % of Total Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Pledges Pledges SY 1390 SY 1390 Paid-in Paid-in Australia % % % Bahrain % % % Belgium % % % Brazil % % % Canada % % % Denmark % % % EC/EU % % % Estonia % % % Finland % % % France % % % Germany % % % India % % % Iran, Islamic Republic of % % % Ireland % % % Italy % % % Japan % % % Korea, Republic of % % % Kuwait % % % Luxembourg % % % Netherlands % % % New Zealand % % % Norway % % % Poland % % % Portugal % % % Russian Federation % % % Saudi Arabia % % % Spain % % % Sweden % % % Switzerland % % % Turkey % % % UNDP % % % United Kingdom % % % United States % % % TOTAL % % % 5 SY 1390 SY SY SY SY

6 Table 6 - Expressed Donor Preferences By Projects Paid-In, Committed, Pledged (US$ Million) December 21, 2011 SY 1381 SY 1382 SY 1383 SY 1384 SY 1385 SY 1386 SY 1387 SY 1388 SY 1389 SY 1390 SY Donor Curr Program Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Paid-in Pledged Paid-in Total Expressed Of which US$ US$ US$ US$ US$ US$ US$ US$ US$ Own Curr. US$ Est. Own Curr. US$ SY 1390 Preference Paid-in EC/EU EUR Afghanistan Rural Enterprise Development Project (AREDP) Finland EUR Afghanistan Rural Enterprise Development Project (AREDP) United Kingdom GBP Afghanistan Rural Enterprise Development Project (AREDP) Sweden SEK Afghanistan Rural Enterprise Development Project (AREDP) Total Afghanistan Rural Enterprise Development Project (AREDP) EC/EU EUR Capacity building for results project Total Capacity building for results project Norway NOK Civil Service Capacity Building United States USD Civil Service Capacity Building Total Civil Service Capacity Building Australia AUD Community Recovery Finland EUR Community Recovery United States USD Community Recovery Total Community Recovery Australia AUD Education - EQUIP Canada CAD Education - EQUIP Germany EUR Education - EQUIP Spain EUR Education - EQUIP Norway NOK Education - EQUIP Sweden SEK Education - EQUIP Netherlands USD Education - EQUIP United States USD Education - EQUIP Total Education - EQUIP Canada CAD Horticulture and Livestock Program United Kingdom GBP Horticulture and Livestock Program Total Horticulture and Livestock Program Canada CAD Justice Sector Reform Project EC/EU EUR Justice Sector Reform Project Ireland EUR Justice Sector Reform Project Italy EUR Justice Sector Reform Project United Kingdom GBP Justice Sector Reform Project Norway NOK Justice Sector Reform Project United States USD Justice Sector Reform Project Total Justice Sector Reform Project United Kingdom GBP Management Capacity Program United States USD Management Capacity Program Total Management Capacity Program Australia AUD Microfinance for Poverty Reduction Canada CAD Microfinance for Poverty Reduction Denmark DKK Microfinance for Poverty Reduction Finland EUR Microfinance for Poverty Reduction United Kingdom GBP Microfinance for Poverty Reduction Sweden SEK Microfinance for Poverty Reduction Netherlands USD Microfinance for Poverty Reduction United States USD Microfinance for Poverty Reduction Total Microfinance for Poverty Reduction Australia AUD National Emergency Employment Program Canada CAD National Emergency Employment Program EC/EU EUR National Emergency Employment Program Spain EUR National Emergency Employment Program United Kingdom GBP National Emergency Employment Program United States USD National Emergency Employment Program Total National Emergency Employment Program Australia AUD National Emergency Rural Access Project EC/EU EUR National Emergency Rural Access Project Germany EUR National Emergency Rural Access Project Italy EUR National Emergency Rural Access Project Spain EUR National Emergency Rural Access Project Japan USD National Emergency Rural Access Project Total National Emergency Rural Access Project Australia AUD National Solidarity Program Canada CAD National Solidarity Program Denmark DKK National Solidarity Program Belgium EUR National Solidarity Program EC/EU EUR National Solidarity Program Finland EUR National Solidarity Program Germany EUR National Solidarity Program Italy EUR National Solidarity Program Spain EUR National Solidarity Program United Kingdom GBP National Solidarity Program Norway NOK National Solidarity Program Sweden SEK National Solidarity Program United Kingdom USD National Solidarity Program United States USD National Solidarity Program Total National Solidarity Program France EUR Power System Development Project Total Power System Development Project Germany EUR Private Sector Development Total Private Sector Development Germany EUR Public Admin Reform Total Public Admin Reform Norway NOK Rural Water Supply and Sanitation United States USD Rural Water Supply and Sanitation Total Rural Water Supply and Sanitation Denmark DKK Second Public Financial Management Reform Project Total Second Public Financial Management Reform Project Norway NOK Skills Development Programme (NIMA) United States USD Skills Development Programme (NIMA) Total Skills Development Programme (NIMA) Australia AUD Strengthening Health Activities for the Rural Poor (SHARP) Canada CAD Strengthening Health Activities for the Rural Poor (SHARP) Estonia EUR Strengthening Health Activities for the Rural Poor (SHARP) Total Strengthening Health Activities for the Rural Poor (SHARP) Russian FederatioUSD Strengthening Higher Education Project Total Strengthening Higher Education Project United States USD Technical Assistance Feasibility Studies Total Technical Assistance Feasibility Studies Grand Total

7 Table 7 - ARTF Commitments & Disbursements As of: December 21, 2011 SY (US$ million). Comm Disbursed Comm Disbursed Comm Disbursed Comm Disbursed Comm Disbursed Comm Disbursed Comm Disbursed Comm Disbursed Comm Disbursed Comm Disbursed SY Dec-11 Current SY 1381 SY 1381 SY 1382 SY 1382 SY 1383 SY 1383 SY 1384 SY 1384 SY 1385 SY 1385 SY 1386 SY 1386 SY 1387 SY 1387 SY 1388 SY 1388 SY 1389 SY 1389 YTD YTD Total Total Month Available Disb. Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End Year End SY 1390 SY 1390 Commited Disbursed Disbursed Rate (g) (h) (g) - (h) (h) / (g) TF Recurrent & Capital Costs Component Wages O&M Debt Service, IMF Debt Service, IDA Debt Service, ADB Bulk Contracts Disbursements(A) Special Account(Opening) Balance (B) Loan Account commitments and disbursements (C) % Updated Special Account Balance * Monitoring Agent TF Monitoring Agent % TF Investment Window Monitoring Agent % Subtotal Monitoring Agents [2] % Closed Investment Projects [3] TF UNDP Police Pr. 1 & % TF Technical Assistance Feasibility Studies % TF National Emergency Employment Program % TF Microfinance for Poverty Reduction % TF UNDP Police % TF Microfinance for Poverty Reduction % TF Telecom & Microw ave Link % TF Kabul Roads and Drainage System % TF Kabul Pow er Supply % TF Strengthening Financial Capacity of the Government % TF National Solidarity Program % TF Civil Service Capacity Building % TF Urban Water Supply and Sanitation % TF Education - EQUIP % TF Rural Water Supply and Sanitation % TF National Solidarity Program % Subtotal Closed Investment Projects [3] % Current Investment Projects [4] TF Second Public Financial Management Reform Project % TF Rehabilitation of Naghlu Hydropow er Plant % TF Management Capacity Program % TF Kabul-Aybak/Mazar-e-Sharif Pow er Project % TF Horticulture and Livestock Program % TF Kabul Urban Reconstruction Project % TF Justice Sector Reform Project % TF Strengthening Higher Education Project % TF Pow er System Development Project % TF Kabul Urban Roads Improvement Project % TF Water Resources Development Technical Assistance Project % TF Skills Development Project % TF Second Education Quality Improvement Program % TF National Emergency Rural Access Project % TF Strengthening Health Activities for the Rural Poor (SHARP) % TF On Farm Water Management Project (OFWM) % TF Afghanistan Rural Enterprise Development Project (AREDP) % TF Third Emergency National Solidarity Project % TF ON Farm Water Management project % TF Improving Agricultural Inputs Delivery % Subtotal Current Investment Projects [4] % TOTAL COMMIT & DISB. [ ] % Note: * Includes US $50 million Special Account advance plus adjustment for any timing difference. 7

8 Table 8 Community Recovery for NSP III and Analysis of Un-disbursed Investment Window Community Recovery for NSP III December 21, 2011 SY 1381 SY1389 SY 1390 Donor Curr Paid-in Pledged Paid-in Total Expressed Of which US$ Own Curr. US$ Est. Own Curr. US$ SY Preference Paid-in Commitments Disbursements Australia AUD Finland EUR United States USD Outstanding Balances of Individual Projects Rehabilitation of Naghlu Hydropwer Plant 1.56% 0.97% 3.85% 0.39% 10.95% 7.54% 34.32% 0.93% 0.31% 1.31% 0.44% 10.62% 1.34% 0.90% 0.12% 7.34% 9.26% Management Capacity Program Kabul-Aybak/Mazar-e-Sharif Project Horticulture and Livestock Program Kabul Urban Reconstruction ProjectT Justice Sector Reform Project Strengthening Higher Education Project Power System Development Project Kabul Urban Roads Improvement Project (KURIP) Water Resources Development Technical Assistance Project Skills Development Project Second Education Quality Improvement Project (EQUIP II) National Emergency Rural Access Program 4.96% Strengthening Health Activities for the Rural Poor (SHARP) On Farm Water Management Project (OFWM) 2.89% 0.00% Afghanistan Rural Enterprise Development Project (AREDP) Third Emergency National Solidarity Project On Farm Water Management Project (OFWM) Improving Agricultural Inputs Delivery System Project (IAIDS) Second Public Financial Management Reform Project (PFMR II) 8