Disclosable Restructuring Paper - Niger Safety Net Project - P123399

The objective of the Niger Safety Net Project is to establish and support an effective safety net system which will increase access of poor and food insecure people to cash transfer and cash for work programs. The restructuring aims to extend the closing date of the current project from the end of June to December 31, 2019. This will be the second extension for a cumulative number of 18 months. It was agreed with the client that all resources allocated to the project will be made available immediately to prevent funds from being returned at the end of the project on June 30, 2019. By the end of March 2019, 98 percent of the project resources of US dollar 101 million have been spent. The extension of this closing date to December 2019 will allow the safety nets project to continue performing its activities and in particular to: i) provide cash transfers, and accompanying measures to beneficiaries over a few months past June 2019; ii) complete the implementation of the accompanying measures for cash for work for the second phase of 2018; and iii) ensure the project achieves the development indicators relative to the institutional support, while continuing its normal activities and have a seamless transition after the new safety nets project becomes effective before the end of May 2019.