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p. 14 of 39 BACK | NEXT Introduction Bankwide Project Implementation Performance Country Implementation Highlights Bangladesh Bhutan Cambodia China, People's Republic of India Indonesia Kazakhstan Korea, Republic of Kyrgyz Republic Lao, People's Democratic Republic Malaysia Maldives Mongolia Myanmar Nepal Pakistan Philippines Pacific Developing Member Countries Sri Lanka Tajikistan Thailand Uzbekistan Viet Nam Appendix

Seminannual Report on Project Administration and Technical Assistance Implementation for the Period Ending 30 June 1999 : Country Implementation Highlights

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Malaysia

The number of ongoing loans remained at nine as no loans were approved or closed during the first half of 1999. Implementation of projects was generally reasonable. All ongoing loans were rated as satisfactory in both implementation progress and achievement of development objectives, except one, which was rated unsatisfactory in terms of implementation progress. Project implementation experienced initial delays because of the long time generally taken for loan effectiveness, as well as adoption of staggered implementation schedules. No loans underwent any changes in project scope or implementation arrangements. No loans were awaiting effectiveness or signing.

The disbursement performance of the portfolio had improved steadily in recent years. However, it deteriorated due to the reduction of public expenditure by the Government in response to the economic crisis, and the corresponding decline in the availability of counterpart funds for projects.

Contract awards of $20.9 million represented 90 percent of the semiannual projection of $23.2 million and 53 percent of annual projection of $39.5 million. This was achieved through higher than expected award of contracts from the Rehabilitation and Upgrading of Water Supply Systems. Disbursements of $19.8 million were almost 100 percent of the semiannual projection of $19.9 million and 45 percent of the annual projection of $43.6 million, again as a result of the higher than expected disbursements for the Rehabilitation and Upgrading of Water Supply Systems, and the Technical and Vocational Education. There were no disbursements from program loans. The disbursement ratio was 9.6 percent compared with the Bankwide average of 11.9 percent and 14.8 percent as of 30 June 1998. Net resource transfer decreased from a negative $11.2 million as of 30 June 1998 to a negative $17.6 million as of 30 June 1999 mainly due to disbursements lower than in the same period last year.

Audited project accounts and financial statements were due for seven loans, and compliance was met only for one. Compliance was delayed for six loans: four by less than 6 months, one by 6-12 months, and one by more than 12 months.

Of the nine loans, environmental covenants were met for two loans and compliance for four loans was in progress. These covenants did not apply to the three other loans. Social covenants were complied with for one loan, and were under implementation for seven loans, while the covenants are not applicable for one loan. Tables 39 and 40 summarize the data for Malaysia.

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