Disbursement Management and
Financial Management
支付和财务管理培训
Liaoning and Shandong Technical and Vocational
Education and Training Project
辽宁和山东职业技术教育和培训项目
1
Main Contents 主要内容

Project Financial management
项目财务管理
 Project Disbursement management
项目支付管理
 Lending rate and Repayment Terms
贷款利率和还款方式
2
Integrated Fiduciary Framework
总体的托管责任

Financial management, procurement, and disbursement
arrangements should be considered together 应将财务管
理、采购和支付管理一起考虑
 Impact each other and may help mitigate risks
它们之间相互影响并可能有助于降低风险
 Disbursement arrangements based on FM and
procurement capacity / assessment 支付安排是基于财务和
采购能力评估基础之上的
 Disbursement arrangements may be changed based on
changes in FM and procurement arrangements during
implementation 在项目执行过程中，支付安排可根据财务
和采购安排的变化而相应变化
3
世行业务中的财务管理
Financial Management for World Bank
Projects


世行业务中的财务管理是一个用以保证项目资金能够用于项目所
设计的特定用途的过程。
Financial Management in World Bank Projects is a process to
assure project fund can be used to its intended purposes.
财务管理包括两个紧密相关的目标：
Two close related targets in Financial Management:
--确保项目活动符合世行的有关政策
Ensure project activity compliance with Bank Policy
--加强借款人的财务管理能力
Enhance Borrower’s Financial Management Capacity
4
财务管理的重要性
Importance of Financial Management

贷款协定有关条款的要求
Requirement in Loan Agreement
借款人应进行适当的安排，以保证项目资金仅用于项
目所设计的特定内容和
Borrower should make proper arrangement to ensure project
fund are used for the purposes intended

确保实现项目的发展目标
Ensure to realize the intended purposes

使股东和公众确信世行资金被适当地使用
Make shareholders and the public believe Bank Fund being used
properly
5
世界银行项目财务管理要求
Financial Management Requirements

世界银行认可的项目财务管理安排可确保项目资金专款专用
Acceptable financial management arrangements to ensure that
funds are used for its intended purposes

世行接受的项目财务管理安排能针对项目的资源和费用，提供及时正
确的财务会计信息
Accounting - Timely and accurately record all transactions and
balances

保全执行单位或项目的资产
Safeguard Assets - Both entity and project assets

符合世行接受的审计安排
Audit Arrangement - Acceptable to WB
6
世界银行项目财务管理要求
Financial Management Requirements
世行项目财务管理安排涉及项目执行机构或单位的会计核算、财务报告、审计和内
部控制系统:
Project’s FM arrangements include the implementing entity’s and PMO’s system
of accounting, reporting, auditing and internal controls:
 会计核算 Accounting
• 手工记账或财务软件
Manual books or computerized accounting software
• 《世界银行贷款项目会计核算办法》（财际字[2000]13号）
Accrual basis of accounting
• 项目财务明细账目的设置
Design and establishment of chart of account for project

财务报告 Reporting
• 年度经审计的财务报表
Annual audited financial statements
• 半年期未经审计的中期财务报表
Semi-annual unaudited financial statements
• 其它相关财务报表及信息
Other related financial statements and information
7
世界银行项目财务管理要求
Financial Management Requirements

审计 Auditing
• 国际审计准则
International standards on auditing
• 审计机构(从世行认可的审计机构中选出)
China Government auditing standards
• 审计范围
Audit Scope

内部控制 Internal Control
为既定目标的实现而实施合理的控制流程，制定相应规定并创造环境:
Process, procedures and environment to provide reasonable assurance
regarding the achievement of objectives:
• 确保高效有效的项目实施
Effectiveness and efficiency of operations
• 保证财务报告的可靠性
Reliability of financial reporting
• 遵守适用法律法规
Compliance with applicable laws and regulations
8
项目的财务管理检查
Projects Financial Management Supervision




各个项目分别配备一名财务管理专家
One FMS for each project
项目检查中采用财务风险分析方法
Adopt Financial Management Risk Rating Analysis in Projects Review
协调解决世行、政府和其他捐赠方之间的财务管理问题
Help solve financial management problems among Bank，
Government and other donors
项目实地考察和非实地考察
Field visit and off-site review
9
审计安排
Audit Arrangement

审计安排的灵活性
More flexible audit arrangement

审计报告的提交
时间 Timing
世行北京代表处在每年6月30日前必须收到审计报告
Audit report need to be received by WBOB on June 30
目前中国的状况 China’s current status
审计报告提交不及时对项目的影响
Impact on projects for late submission of audit reports

审计报告发布前与项目管理单位、执行单位以及世行讨论
Discussion with PIU/ PMO/ WBOB prior to issuance of the report

审计报告中保留意见不准确 – 重要性水平的错误
Justification for qualification - materiality of error

针对审计报告中保留意见提供更多的解释和说明
More detail explanation in audit report on the audit opinion qualification
10
财务管理常见问题及分析
Common Issues and Analysis on Financial
Management
常见问题
 报账及资金回补不及时
 项目资产管理不到位
 支出证明材料不完整
 会计核算不完善与财务报告不及时
 审计问题整改不彻底
分析
 不熟悉项目法律文本
 项目人员、财务人员沟通不顺畅
 基层财务人员能力待提高
 日常监督与培训
11
Disbursement Management Framework
支付管理框架
 Considers考虑到:




The Bank’s new eligibility framework – OP/BP
6.00, Bank Financing (April 2004) 合格费用框架
Integrated fiduciary framework 总体的托管责任
New General Conditions, Simplified legal
documentation通则及法律协议
New World Bank Disbursement Guidelines for
Projects (May 06) 新的世行项目支付指南
12
Disbursement Management Framework
支付管理框架
New Projects 新项目
General Conditions
通则
Loan Agreement
贷款协议
Disbursement Letter
支付信 （与贷款协议捆绑）
Disbursement Guidelines
支付指南
Disbursement Handbook
支付手册
13
Disbursement Policies and Procedures
支付政策和程序
•
•
•
•
•
Eligibility of expenditures 合格费用
Withdrawal of loan/credit proceeds 资金提取
Disbursement methods & Supporting
documentation requirements 支付方式和支持
文件
Designated account 指定帐户
Ineligible expenditures and refunds 不合格费
用和退款
14
Bank’s Policies Regarding Eligibility of
Expenditures
世行关于合格费用的政策
•
Eligible expenditures are the reasonable cost of goods, works, and services
required for the project to be financed out of the proceeds of the loan and
procured , all in accordance with the legal agreement and during the loan
disbursing period. 合格费用是指按照法律协议和贷款支付期间内的、项目需
要和合理的由贷款资金融资支持的货物、工程和服务等费用。
•
Schedule I. Withdrawal of the proceeds of the financing 附件1,贷款资金的提
取
Disbursing period 支付期间
Closing Date 关帐日2015年1月31日
•
•
•
The Bank processes applications only after the legal agreement has been
declared effective.世行仅在法律协议生效后接受支付申请
15
Disbursing Period 支付期间

The expenditures for which the Applications are made
must be申请书所申请的费用必须是：
(a) paid for (i) on or after the date of the loan agreement 在贷款
协议日或之后付出的
(b) Incurred on or before the closing date specified or referred
to in the Legal agreement, except as otherwise specifically
agreed with the Bank.在贷款协议所规定的关帐日或之后发生的，
除非世行同意的其它日期

Disbursement Deadline date: 4 months after closing date.
支付截止日期：关帐日之后的4个月
16
Section IV. Withdrawal of Loan Proceeds
贷款资金的提取
Part A A部分
•Disbursement Schedule 支付计划表
Categories 类别
Descriptions 描述
Allocations
分配额
Disbursement Percentages 支付比例
Part B
B部分
•Withdrawal conditions; withdrawal period 提款条件，
提款期间
Disbursement Conditions 支付条件
Retroactive Financing (if any) 追溯贷款（如有）
Withdrawal period 提款期间
17
Part A A 部分
•
•
•
Category
% of Expenditures Amount of the
to be Financed
Loan Allocated (USD)
•
•
•
•
•
•
•
•
•
•
•
•
•
•
类别
1. Liaoning
(a) Goods and Works
(b) Innovation Sub-project
Financing
2. Shandong
(a) Goods and Works
(b) Innovation and Sub-project
Financing
(3) Front-end Fee
(4) Premium on Interest Rate
Cap and or Interest Rate Collar
Total
融资比例
贷款分配额
100%
16,100,000
100%
3,850,000
100%
16,830,000
100%
3,120,000
100,000
40,000,000
18
Part B B部分
Withdrawal Conditions, Procedures and Withdrawal Period.
提款条件，程序和提款期间
1.
Notwithstanding the provisions of Part A of this Section no
withdrawal shall be made for payments prior to the date of this
agreement; except that: 尽管满足上述A部分的条款外，协议日之
前发生的付款不可以从贷款中提取，除非：
2.
Disbursement Conditions: Refer to LA
3.
The Closing Date is January 31,2015
帐户的关帐日是2015年1月31日。
19
Disbursement Guidelines支付指南
Standard provisions governing withdrawal of loan
proceeds 关于贷款提取的标准条款:








Purpose 目的
Disbursement methods 支付方法
Withdrawal of loan proceeds 贷款资金的提取
Supporting documentation requirements 支持性文件
Designated accounts 指定帐户（原专用帐户）
Terms and conditions applicable to advances
预付款使用条款
Ineligible expenditures 不合格费用
Consequences of refunds 退款
20
Disbursement Letter

支付信
Notice from Bank to borrower 世行对借款人的通知


Specifies disbursement arrangements and provisions of
Disbursement Guidelines that apply for a specific project 对特
定项目适用的选定支付安排
Sent to borrower as part of negotiations package 作为谈判文件
的组成部分给借款人

Discussed and finalized at negotiations
在谈判中讨论和定稿
 Can be modified during implementation – without
amending legal agreement
可在项目执行过程中修改，无须修改法律协议
21
Applicability 适用性

New Disbursement Guidelines and disbursement
letter apply to 新支付指南和支付信适用于:
all IBRD loans, IDA financing, PPF advances, IDF
grants, most GEF grants and most recipient-executed
grants financed from trust funds

Do not apply to Development Policy Loans
不使用与发展政策贷款

Used for all new projects to which 2005 General
Conditions apply 适用于所有适用2005新通则的新
项目
22
Withdrawal of Loan Proceeds
贷款资金的提取
Authorized signatures 授权签字;
Before disbursing, the authorized representative of the
borrower ( as designated in the legal agreement) must furnish
to the Bank an Authorized signatory letter. 在支付开始之前，
借款人的授权代表必须向世行递交授权签字信
(a) the name (s) of the official (s) authorized to sign
Applications.授权签署申请书的官员的名字
(b) The authenticated specimen signatures (s) of the official (s)
该官员经鉴别的签字样本
Please indicate clearly if more than one signature is required
on Applications, and must notify the Bank promptly of any
changes in signature authority. 如有多个签字的要求，请清楚
23
表示，任何签字授权的变化必须迅速通知世行。
Withdrawal of Loan Proceeds
贷款资金的提取
Applications form申请书格式
The forms must be the one attached to the DL.
Standard form are available online from the
Client Connection website.
表格必须是支付信上所附的，标准表格可从客户联系系统的
网站上在线获得。
24
Disbursement methods & Supporting
documentation requirements
支付方式和支付文件的要求

The following disbursement methods may be used under the
funding以下支付方式可被使用
Reimbursement偿还支付; The Bank may finance the borrower
for eligible expenditures that the borrower has pre-financed
from its own resources世行可支付借款预先从自有资金中支付的合格费用
Advance预付款: The Bank may advance loan proceeds into a
designated account of the borrower to finance eligible
expenditures as they are incurred.世行可向借款人的指定帐户中存入
一笔预付款，以便在合格费用发生时支付
Direct payment直接支付: The Bank may make payments, at
the borrower’s request directly to a third party for eligible
expenditures.世行或在借款人的要求下将合格费用直接支付给第三方
25
Special commitment特别承诺: for LC
Advance 预付款


Authorized allocation分配额;
USD 3,000,000
Frequency of reporting eligible expenditures paid from
the DA对预付款使用的报告频率: Monthly每月
Excess advances过量预付款: If the borrower does not
provide any documentation of expenditures for the
reporting period, this may indicate to the Bank that the
advance is excessive and not required for the project
needs.如果借款人在规定时间内未能报告预付款的使用，这可使世行认为
预付款过量和不符合项目的需求
26
Designated account management
指定帐户的管理
Before the Bank authorizes establishment of a DA, the
borrower must have adequate administrative capability,
internal controls, and accounting and auditing procedures
to ensure effective use of the DA. 在世行同意借款人建立
指定帐户之前，借款人必须有充足的管理能力、内部控制、
会计核算和审计程序以确保指定帐户的有效使用
Currency of DA指定帐户有币种; USD or other currency
acceptable to the Bank.
Financial institution金融机构: no comfortable letter
required 不再需要安慰信
Acceptable to the Bank,世行可接受的
27
Designated account 指定帐户



When making payment from a DA, the borrower is responsible
for following all requirements. 当从指定帐户付款时,借款人负责遵
守所有要求
The borrower should only withdraw funds advanced to the DA as
eligible expenditures are incurred. 借款人应在合格费用发生时从
指定帐户提款
Loan proceeds on deposit in DA may be transferred to another
account of the borrower or the project if the need exists and if
appropriate arrangements are in place. This arrangement should
reviewed as part of the overall assessment of the borrower’s
financial management arrangements. 如果项目需要并且有合适
的安排, DA的资金可以预付到借款人的其他帐户上。对于这些安
排应作为借款人财务管理安排的一个组成部门进行审核。
28
Documentation requirements文件要求
In general:
Forms to be Used
所用表格
(a)
Reimbursement偿还支付 Form (2380)
(b) Advance预付款
-Withdraw advance提预付款 Form (2380)
-Reporting of advance报告预付款Form (2380)
Attachment
附件
SOE费用表, list of payment
against the contracts, records
evidencing eligible expenditures
费用表、合同付款清单，记录
SOE, list of payment
against the contracts,
records evidencing eligible exp
费用表、合同付款清单，记录
(c) Direct payment直接支付
(e)
Form(2380)
Special Commitment特别承诺Form 1931
Invoice/ Contract发票/合同
L/C
29
Supporting Documentation支持文件
For requests for reimbursement and reporting eligible
expenditures paid from the DA 对于偿还支付和从指定账户支
付的合格费用



List of payments against contracts subject to Bank’s prior
review 基于世行预审合同的付款清单
SOE for all other expenditures/contracts not subject to the
Bank’s prior review 其他的费用以及非世行预审合同下的费用
表
DA reconciliation statement with applicable bank statement.指
定账户调节表和相应的银行对账单
30
Ineligible expenditures and refunds
不合格费用和退款
Ineligible expenditures paid out of the DA
从DA中支付了不合格费用
Provide the additional evidence requested by the Bank 提供世
行要求的其他证明
 Deposit an equivalent amount into the DA向DA中存入等额资金
 Refund an equivalent to the Bank向世行退还等额资金
 Exceptionally, provide substitute documentation evidencing
other eligible expenditures例外情况下，提供其他合格费用作为
替代

Refunds退款
The Bank shall determine whether refunds made to the Bank
will be credited to the Loan Account for subsequent withdrawal
or cancelled. 世行决定是否将收到的退款从贷款帐户中注销或用
作将来的提款。
31
Change of the Loan Agreement
贷款协议的修改
Reallocation 再分配
 Extension of closing date 关帐日延长
 Changes in disbursement percentage支付比例改
变
 Other - change of disbursement categories 支付
类别的改变

32
Some Disbursement Indicators
一些支付指标

Disbursed to Original Net Amount Percentage已支付额占初
始净贷款额的比例:
Cumulative disbursements Amount
X100%
The original loan amt – cancellations

Disbursement Ratio支付率:
The disbursements made during the year X100%
Un-disbursed bal. at the beginning of the year

Disbursement lag支付延后: a graph comparing actual to projected
disbursements (can be by year, but usually it is cumulative)
33
Interest Rate
利率
谢谢大家！
欢迎讨论！
34
IFLs in US dollars approved after June 30, 2010
Average Maturity
Variable Spread (2)
Fixed Spread (3)
Up to 12 years
LIBOR + 0.24%
LIBOR + 0.60%
Greater than 12 to 15 years
LIBOR + 0.34%
LIBOR + 0.90%
Greater than 15 to 18 years
LIBOR + 0.44%
LIBOR + 1.25%
35
Interest Rate
利率
谢谢大家！
欢迎讨论！
36
Borrower Choices: Amortization Pattern of Principal
Repayment
借款国的选择：本金还款额的分期偿还方式
Level
Bullet
8
(30 year maturity including 5 years of grace period)
30年的还款期包括5年的宽限期
7
Grace Period
Millions of USD
Millions of USD
100
Repayment of Principal
6
5
4
(18-year)
120
80
60
3
40
2
20
1
0
0
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
1
2
3
4
5
Years
7
8
9
10
11
12
13
14
15
16
17
18
Years
Annuity
(25-year maturity including 8 years of grace period)
25年的还款期包括8年的宽限期
14
6
Customized
(30-year)
12
Repayment of Principal
12
Grace Period
No payments
10
Millions of USD
Grace Period
Millions of USD
10
8
6
8
Repayment of Principal
6
4
4
2
2
0
0
1
2
3
4
5
6
7
8
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Years
1
2
3
4
5
6
7
8
37
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Years
37
Questions and Discussion问题和讨论
 谢谢！
38