The World Bank Report No: ISR3070 Implementation Status & Results Sri Lanka Public Disclosure Copy Small and Medium Enterprise Development Facility (P121328) Operation Name: Small and Medium Enterprise Development Facility Project Stage: Implementation Seq.No: 1 Status: ARCHIVED Last Modified Date: 31-Mar-2011 (P121328) Country: Sri Lanka Approval FY: 2011 Product Line: IBRD/IDA Region: SOUTH ASIA Lending Instrument: Financial Intermediary Loan Implementing Agency(ies): Key Dates Board Approval Date 07-Sep-2010 Original Closing Date 31-Mar-2014 Planned Mid Term Review Date 13-Jun-2012 Last Archived ISR Date Effectiveness Date 05-Jan-2011 Revised Closing Date 31-Mar-2014 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to improve access to finance (including term finance) for SMEs affected by the Global Financial Crisis in Sri Lanka. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Component 1: Financing and Risk Sharing Facility 41.00 Component 2: Policy and Capacity Enhancement for SME Banking 12.00 Overall Ratings Public Disclosure Copy Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Overall Implementation Progress (IP) Satisfactory Overall Risk Rating Implementation Status Overview The SME Development Facility (SMEDeF) Project was approved on September 7, 2010 and became effective on January 5, 2011. The first implementation support mission took place on March 9-16, 2011. Results Page 1 of 5 The World Bank Report No: ISR3070 Project Development Objective Indicators Public Disclosure Copy Indicator Baseline Current End Target Indicator Name Value Value Value Cumulative number of active SME loans (< 36 months maturity) 0.00 0.00 280.00 Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Number Indicator Baseline Current End Target Indicator Name Value Value Value Cumulative number of active SME loans (>36 months maturity) 0.00 0.00 280.00 Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Number Indicator Baseline Current End Target Indicator Name Value Value Value Cumulative volume of loans to SMEs (<36 months maturity, US$m 0.00 0.00 14000000.00 equivalent) Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Amount(USD) Indicator Baseline Current End Target Indicator Name Value Value Value Cumulative volume of loans to SMEs (>36 months maturity, US$ Public Disclosure Copy 0.00 0.00 14000000.00 equivalent) Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Amount(USD) Page 2 of 5 The World Bank Report No: ISR3070 Indicator Baseline Current End Target Public Disclosure Copy Indicator Name Value Value Value PFI SMEDeF Project Portfolio Quality (NPL (% ) of >90 days) 10.00 10.00 8.00 Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Percentage Intermediate Results Indicators Indicator Baseline Current End Target Indicator Name Value Value Value Volume of Bank Support: Lines of Credit - SME 0.00 0.00 28.00 Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Core Indicator Amount(USD) Indicator Baseline Current End Target Indicator Name Value Value Value Number of new SME borrowers under RSF portfolio (cumulative) 0.00 0.00 1000.00 Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Number Indicator Baseline Current End Target Indicator Name Public Disclosure Copy Value Value Value Cumulative no. of PFI introducing processes/products/management 0.00 0.00 6.00 systems specific to SME Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Number Page 3 of 5 The World Bank Report No: ISR3070 Indicator Baseline Current End Target Public Disclosure Copy Indicator Name Value Value Value Cumulative percentage of SMEs getting loan after training by PFIs 0.00 0.00 50.00 Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Percentage Indicator Baseline Current End Target Indicator Name Value Value Value Cumulative no. of PFI loan officers trained in SME Banking products 0.00 0.00 400.00 and credit risk management Date Date Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Type Unit of Measure Comment Comment Comment Custom Indicator Number Indicator Baseline Current End Target Indicator Name Value Value Value Completion of findings of the diagnostic affecting SMEs and recommendations drafted and recommendation to address them made available. shared with relevant authorities for Date Date action Date Type Unit of Measure Comment Comment 31-Mar-2014 Custom Indicator Text Comment Data on Financial Performance (as of 06-Jan-2011) Public Disclosure Copy Financial Agreement(s) Key Dates Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date P121328 IDA-48040 Effective 07-Sep-2010 08-Nov-2010 05-Jan-2011 31-Mar-2014 Disbursements (in Millions) Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P121328 IDA-48040 Effective XDR 37.80 37.80 0.00 0.00 37.80 0.00 Disbursement Graph Page 4 of 5 The World Bank Report No: ISR3070 Public Disclosure Copy Key Decisions Regarding Implementation The mission found the overall implementation progress of SMEDeF to be satisfactory. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 5 of 5