General Information |
Project/Program |
Project |
Project Name |
Economic Rehabilitation Project P004035 |
Duration |
Board of Approval: September 28, 1995 Closing Date: June 30, 1997 |
Donor |
Word Bank, Swedish International Development Agency |
Implementiong Organization |
Royal Government of Cambodia, under the National Budget |
Sector and/or Subsector Classification |
Others |
Region |
Not Applicable |
Financing |
World Bank had given a credit of USD 40 million, and the SIDA grant of USD 5.5 million. |
Analytical Information |
Stakeholders |
World Bank, Swedish International Development Agency, Royal Government of Cambodia, Cambodian Investment Board, International Committee for the Reconstruction of Cambodia, International Development Association, Council of Mutual Economic Assistance, International Development Fund, Ministry of Economy and Finance, National Bank of Cambodia, Non-Government Organizations, Project Management Unit, Civil Society. |
Cross-cutting Issue |
Environment |
During the Board meetings, Executive Directors argued the presence of specific policy conditions may facilitate a better progress for structural reforms. However, most directors agreed the institutional weakness prevented the Government to be capable of handling these intense targets; instead relied on the Statement of Development Policy as a proxy. |
Gender |
No Gender Related Information can be found in the Implementation Completion Report. |
Impact Analysis |
The project aligns with the Statement of Development Policy, World Bank's Country Assistance Strategy, and the newly established Government's macro economic objectives to a more neo-liberalized, open market society. |
Effectiveness |
Ownership/Partnership |
Evaluation |
No specific information regarding ownership was to be found in the Implementation Completion Report, however the performance of the borrower was satisfactory highly attributable to the relative speed in preparation and commitment of the staff. |
Rating |
3/5 |
Policy Coherence/Harmonization |
Evaluation |
No information regarding policy coherence/harmonization could be found in the Implementation Completion Report. |
Rating |
N.A. |
Evaluation Framework |
Evaluation |
Monitoring was covered by World Bank through missions, as well as joint monitoring with the IMF (which had a three year reform outline Policy Framework Paper). |
Rating |
3/5 |
Alignment/Composition of Finance |
Evaluation |
There were no specific policy conditions attached to this project; instead World Bank had intensive monitoring programs and was allowed to suspend the project if there were reasons to believe the allocations were not spent accordingly. Disbursements were carried out faster than expected, however, financial sustainability was a problem after the disbursements. |
Rating |
3/5 |
Other Remarks |
This project is a follow up after the Emergency Rehabilitation Project. World Bank was very cautious regarding the economic and political situation of Cambodia, whether the Government would be able to carry out the project as outlined in the Statement. |