The World Bank Report No: ISR9872 Implementation Status & Results Haiti Haiti Post-Disaster Partial Credit Guarantee Program Support Project (P121391) Public Disclosure Copy Operation Name: Haiti Post-Disaster Partial Credit Guarantee Program Support Project Stage: Implementation Seq.No: 5 Status: ARCHIVED Archive Date: 17-May-2013 Project (P121391) Country: Haiti Approval FY: 2011 Product Line: IBRD/IDA Region: LATIN AMERICA AND CARIBBEAN Lending Instrument: Specific Investment Loan Implementing Agency(ies): Key Dates Board Approval Date 14-Dec-2010 Original Closing Date 28-Feb-2017 Planned Mid Term Review Date 31-Mar-2013 Last Archived ISR Date 09-Oct-2012 Effectiveness Date 22-Feb-2011 Revised Closing Date 28-Feb-2017 Actual Mid Term Review Date 11-Sep-2012 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to support the development of a partial credit guarantee program by the Recipient to help (i)financial institutions restart lending; and (ii) financial sector borrowers overcome the impact of the Emergency. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Supporting the Provision of Partial Credit Guarantees 2.50 Financial Sector Technical Assistance 0.50 Overall Ratings Previous Rating Current Rating Public Disclosure Copy Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Implementation Status Overview The restructuring of the project, so as to implement the second Pillar of the Partial Credit Guarantee Fund has been approved at the end of January, and the amended Financing Agreement was signed on March 5. The second Pillar of the guarantee Fund will focus on SME and housing loans. It is expected to be launched in the coming weeks, as soon a the co-financing from the Government is made available. Locations Page 1 of 4 The World Bank Report No: ISR9872 Country First Administrative Division Location Planned Actual Haiti Departement de l'Ouest Arrondissement de Port-au-Prince Public Disclosure Copy Haiti Departement de l'Ouest Port-au-Prince Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Total volume of overdue loans at the end of Percentage Value 3.60 2.40 5.00 each calendar year (NPL Ratio) Date 31-Mar-2012 31-Dec-2012 31-Dec-2016 Comments This is the new baseline after NPLs have continued to As indicated in the the restructuring of the project decrease with the growth of restructuring it is unlikely that the portfolio the low rate of NPLs will be maintained throughout the project, because this level was reached thanks to a steep increase in credit, and the call of a state guarantee by the public bank BNC which significantlydecreased the NPL for this bank, the third largest of the market with 20% market share Total volume of outstanding loan portfolio at Number Value 41000.00 51800.00 56000.00 the end of each calendar year Date 31-Mar-2012 31-Dec-2012 31-Dec-2016 Comments The amounts shown are in the stock of loans have The amounts shown are in Millions of Gourdes continued to increased Millions of Gourdes steeply by 6% in the last quarter and 33% in the last year to December 2012 Public Disclosure Copy Outstanding SME Loan Portfolio Amount(USD) Value 0.00 0.00 800.00 Date 12-Apr-2013 12-Apr-2013 31-Dec-2016 Comments the indicator is related to the The pillar 2 guarantee fund Amounts shown are SME loan portfolio supported has not been launched yet expressed in Millions of by the project- the pillar 2 Gourdes needs to be launched so as to measure this indicator Page 2 of 4 The World Bank Report No: ISR9872 Percentage of project-supported institutions Percentage Value 0.00 0.00 2000.00 that are reporting on this indicator Sub Type Supplemental Public Disclosure Copy Total of SME benefitting from the project Number Value 0.00 0.00 2000.00 Date 12-Apr-2013 31-Dec-2016 Comments The Pillar 2 has not been launched yet Number of women benefitting from Guarantees Number Value 0.00 0.00 300.00 under the program Date 12-Apr-2013 12-Apr-2013 31-Dec-2016 Comments This indicator is a core one The Pillar 2 has not been that has been adapted to fit launched yet the program (the core is the Percentage of active loans to women – Microfinance) Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target The design and implementation of measures Yes/No Value No No No alongside the PCGP to remove some obstacles Date 30-Jun-2010 31-Mar-2013 30-Dec-2015 to credit growth. Comments The project is supporting, in coordination with IFC actions to support the definition of a suitable framework for the operation of credit bureaus. The Central Bank will establish a credit registry, once suitable regulations are in place. Data on Financial Performance (as of 21-Apr-2011) Public Disclosure Copy Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P121391 IDA-H6300 Effective 14-Dec-2010 07-Jan-2011 22-Feb-2011 28-Feb-2017 28-Feb-2017 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P121391 IDA-H6300 Effective XDR 2.00 2.00 0.00 1.55 0.45 78.00 Page 3 of 4 The World Bank Report No: ISR9872 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation The Restructuring of the project has been approved so as to transfer the fund to the second window of the Guarantee Fund Restructuring History CD Approval on 29-Jan-2013 Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4