The World Bank Report No: ISR16305 Implementation Status & Results Jordan MSME Development Project for Inclusive Growth (P132314) Public Disclosure Copy Operation Name: MSME Development Project for Inclusive Growth (P132314) Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 19-Oct-2014 Country: Jordan Approval FY: 2013 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Financial Intermediary Loan Implementing Agency(ies): Central Bank of Jordan Key Dates Board Approval Date 05-Mar-2013 Original Closing Date 31-Dec-2015 Planned Mid Term Review Date 15-Jun-2014 Last Archived ISR Date 06-Apr-2014 Effectiveness Date 09-Jun-2013 Revised Closing Date 31-Dec-2015 Actual Mid Term Review Date 15-Jun-2014 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to contribute to the improvement of access to finance for micro, small and medium enterprises in the Hashemite Kingdom of Jordan. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Line of Credit to MSMEs 70.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Moderate Moderate Public Disclosure Copy Overall Risk Rating Implementation Status Overview Significant progress was made in project implementation as evident in the fast disbursement, which has been ahead of projection. The project was approved by the Board on March 5, 2013, the Legal Agreement was signed on March 12, 2013, and it became effective on June 9, 2013. During the first year, the project has disbursed US$ 68.6 million, one year ahead of projection, accounting for 98 percent of the total loan amount. More importantly is that in this short period of time, 76.7 percent of this amount (US$ 51.5 million) has been committed or already on-lent to the end beneficiaries (MSME), with effective targeting of women and youth. The operation has had commendable success in terms of outreach to underserved segments in such a short period of time. Beneficiaries outside Amman represent approximately 58 percent of total beneficiaries. In addition, women represent, on average, 85 percent of project beneficiaries, while youth represent approximately 45 percent. Page 1 of 4 The World Bank Report No: ISR16305 The number of jobs created, as of June, 2014, is over 2,000 jobs through medium, small, and micro enterprises components. Locations Public Disclosure Copy No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Direct project beneficiaries Number Value 0.00 4112.00 2000.00 Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments MSMEs Beneficiaries Female beneficiaries Percentage Value 0.00 85.00 35.00 Sub Type Supplemental Overall MSME portfolio of partcipating banks Percentage Value 0.00 8.00 20.00 Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments Portfolio at Risk - SME Percentage Value 6.00 5.00 4.00 Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments Percentage of project-supported institutions Percentage Value 1.00 1.00 1.00 that are reporting on this indicator Sub Type Supplemental Number of jobs created by MSMEs Project Number Value 0.00 2200.00 4000.00 Beneficiaries Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments Public Disclosure Copy Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Person Days of Employment Created Days Value 0.00 264000.00 480000.00 Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments Page 2 of 4 The World Bank Report No: ISR16305 Volume of Lending to MSMEs under the Lines Amount(USD) Value 0.00 54.00 70.00 of Credit Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments Public Disclosure Copy Number of banks engaged in MSME lending Number Value 0.00 12.00 5.00 Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments Number of term loans to MSMEs Number Value 0.00 2544.00 1000.00 Date 20-Dec-2012 30-Jun-2014 31-Dec-2015 Comments Data on Financial Performance (as of 07-Jul-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P132314 IBRD-82320 Effective 05-Mar-2013 12-Mar-2013 09-Jun-2013 31-Dec-2015 31-Dec-2015 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P132314 IBRD-82320 Effective USD 70.00 70.00 0.00 68.58 1.42 98.00 Disbursement Graph Public Disclosure Copy Page 3 of 4 The World Bank Report No: ISR16305 Key Decisions Regarding Implementation Document can be disclosed Public Disclosure Copy Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4