Download Report - Independent Evaluation Group - World Bank

42 Annex CGENERAL CONDITIONS AND DESIGN OF 2 ND AND 3 RD“MENU- BASED" TRANCHES• The Borrower has achieved satisfactory progress in the carrying out of the Program,including: (i) BTM privatization process has been settled prior to the release of thesecond tranche through the completion of the existing sales protocol or, if the dealunravels, already agreed steps for full State disengagement from BTM are put inplace; (ii) social programs have been implemented as agreed with IDA; and (iii) amacroeconomic framework consistent with the Program has been maintained. Inaddition, each of the "menu-based" tranches requires a CORE MEASURE (one salescontract, and fully operational regulatory framework and body), and ADDITIONALMEASURES (fully complied a total of 4 out of the 8 reform areas listed below).MEASURES FOR 2 ND AND 3 RD “MENU-BASED" TRANCHESCORE MEASURESAir Transport: The Borrower shall have: (a) sold at least 65 percent of Air Madagascar'svoting stock; (b) established an adequate legal and regulatory framework and a regulatoryauthority with functions, membership, budgetary resources, and adequate staffing (all inaccordance to paragraph 19 of the LDP); and (c) invited airport operators to bid for theconcessioning of at least two main lots of airport infrastructure.ORTelecommunications: The Borrower shall have: (a) sold at least 34% of TELMA's votingstock; and (b) established an adequate legal and regulatory framework and a regulatoryauthority with functions, membership, budgetary resources, and adequate staffing (all inaccordance to paragraph 19 of the LDP).ADDITIONAL MEASURESPrivate Sector Development1. Mining Sector. The Borrower shall have enacted a revised Mining Code, includingimplementation decrees; and adopted an action plan aimed at expediting theprocessing of mining permit applications.2. Land Tenure. The Borrower shall have taken all the measures referred to in paragraph12 of the LDP to facilitate access to land; and invited investors to submit bids for fivetourism and five industrial zones.3. Business Environment and Judicial Processes. The Borrower shall have: (a) on thebasis of the results and recommendations of its ongoing study (Etude sur les lenteursde la procédure judiciaire), adopted an action plan to improve caseload managementwithin the judicial system; and achieved substantive progress in the execution of thesaid action plan; and (b) on the basis of a consultative process involving all interestedparties, adopted an action plan for the purposes of streamlining formalities andprocedures required to carry out economic activities, and achieved substantiveprogress in the execution of the said action plan.