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p. 15 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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Maldives

The number of ongoing loans remained at two as no loan was approved and none were closed during the first half of 1999. Both loans were rated satisfactory in both implementation progress and achievement of development objectives. No loans were awaiting signing or effectiveness. The Bank provided three TAs to (i) further strengthen the country's capacity to prepare national accounts, (ii) provide assistance in the area of postsecondary education planning and management, and (iii) identify the scope for private sector participation in the port sector. Implementation of a TA for building the capacity of the Maldive Audit Office was ongoing and will be completed by October 1999. No loans underwent changes in project scope or implementation arrangements.

Contract awards of $0.3 million achieved 120 percent of the semiannual target and 11 percent of annual target of $2.9 million. Disbursements of $0.2 million represented 131 percent of the semiannual projection and 30 percent of the annual projection of $0.6 million. There were no ongoing program loans. The disbursement ratio declined from 3.7 percent as of 30 June 1998 to 1.2 percent as of 30 June 1999 compared with the Bankwide average of 11.9 percent, due to the large undisbursed loan balance at the beginning of the year. Net resource transfer decreased from a negative $0.03 million as of 30 June 1998 to a negative $0.2 million as of 30 June 1999.

Audited project accounts and financial statements were not due for any loan during the period. The environmental covenants were complied with for one loan but did not apply to the other. The social covenants for one loan were being complied with, but did not apply to the other. Data on the Maldives are shown in Tables 41 and 42.

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