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p. 30 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 Cook Islands Fiji Islands Kiribati Marshall Islands Micronesia, Federated States of Nauru Papua New Guinea Samoa Solomon Islands Tonga Tuvalu Vanuatu 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 : Pacific Developing Member Countries

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Solomon Islands

There were two ongoing loans with no loans approved or closed during the period. No loans were awaiting signing or effectiveness. Both loans were classified as satisfactory in terms of both implementation progress and achievement of development objectives. One loan underwent a minor change in scope, but no changes were made in implementation arrangements. No loans were delegated to the RM and none was under implementation by the RM. There are no substantial implementation issues. The Government requested the postponement of the second tranche release for the program loan from November 1999 to early 2000 to be able to fulfill all the conditions for the tranche release. Ethnic conflicts continue to delay the implementation of reforms, but commitment to the reform program remains high. Consulting services under the TA loan had commenced, but progress in privatization was delayed because of ethnic conflicts.

No contract awards and commitments were achieved during the period. Disbursements reached the semiannual projection of $0.1 million, only 25 percent of the annual projection of $0.4 million. The disbursement ratio was 0.9 percent compared with the Bankwide average of 11.9 percent and nil as of 30 June 1998. Net resource transfer increased from a negative $2.2 million as of 30 June 1998 to a negative $0.5 million as of 30 June 1999 due to disbursements and lower loan service payments.

Audited project accounts and financial statements were not due during the period. Environmental covenants did not apply to both loans, but compliance with the social covenants was ongoing. Tables 67 and 68 summarize the data for Solomon Islands.

Table 67: Solomon Islands - Financial Performance Indicators

Table 68: Solomon Islands - Ratings and Compliance with Covenants

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