The World Bank Report No: ISR15508 Implementation Status & Results Tunisia MNA Micro, Small and Medium Enterprise Financing Facility (P124341) Public Disclosure Copy Operation Name: MNA Micro, Small and Medium Enterprise Financing Facility Project Stage: Implementation Seq.No: 6 Status: ARCHIVED Archive Date: 05-Jul-2014 (P124341) Country: Tunisia Approval FY: 2012 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Adaptable Program Loan Implementing Agency(ies): Caisse des Depots et des Consignations, Central Bank of Tunisia Key Dates Board Approval Date 14-Jul-2011 Original Closing Date 31-Jan-2017 Planned Mid Term Review Date 30-Jun-2014 Last Archived ISR Date 18-Oct-2013 Effectiveness Date 04-Apr-2012 Revised Closing Date 31-Jan-2018 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 for micro, small and medium enterprises in Tunisia, including through enabling creditworthy MSMEs to maintain access to credit. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Lines of Credit 134.87 Patient financing 15.00 Overall Ratings Previous Rating Current Rating Public Disclosure Copy Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status Overview The Project was approved by the Board on July 14, 2011. Signing of the legal agreements took place on September 7. The Borrower satisfied the conditions of effectiveness April 5, 2012. Locations No Location data has been entered Page 1 of 6 The World Bank Report No: ISR15508 Results Project Development Objective Indicators Public Disclosure Copy Indicator Name Core Unit of Measure Baseline Current End Target Increase in total no. of MSME loans in PFI Percentage Value 0.00 9.80 13.00 portfolios Date 31-Dec-2011 23-Jun-2014 31-Jan-2018 Comments Data shared by the CBT (March 5, 2014). The increase was 11.3% from 2011 to 2012. The figure will be updated in September 2014, once the CBT sends its semi- annual report to the Bank Increase in the total volume of outstanding Percentage Value 0.00 12.00 25.00 MSME portfolio of PFIs Date 31-Dec-2011 23-Jun-2014 31-Jan-2018 Comments Data shared by the CBT (March 5, 2014). The increase was 7.5% from 2011 to 2012. The figure will be updated in September 2014, oncethe CBT sends its semi-annual report to the Bank Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target No. of MSME loans financed by the Line of Number Value 0.00 172.00 379.00 Credit (sub-component 1.1) Date 31-Dec-2011 23-Jun-2014 31-Jan-2018 Comments The figure will be updated in September 2014, once the CBT sends its semi-annual Public Disclosure Copy report to the Bank. Volume of MSME loans financed by the Line of Amount(USD) Value 0.00 20.54 110.00 Credit (sub-component 1.1) Date 31-Dec-2011 23-Jun-2014 31-Jan-2018 Comments In US$ million The figure will be updated in In US$ million September 2014, once the CBT sends its semi-annual report to the Bank. Volume of financing from the Line of Credit to Amount(USD) Value 0.00 32.63 110.00 PFIs (sub-component 1.1) Date 31-Dec-2011 23-Jun-2014 31-Jan-2018 Page 2 of 6 The World Bank Report No: ISR15508 Comments In US$ million The figure will be updated in In US$ million September 2014, once the CBT sends its semi-annual report to the Bank. Public Disclosure Copy No. of participating PFIs (sub-component 1.1) Number Value 0.00 8.00 9.00 Date 31-Dec-2011 23-Jun-2014 31-Jan-2018 Comments As of June 23, 2014, all eligible credit institutions have been utilizing the facility. No. of active MSME loan accounts in PFIs Number Value 103130.00 114717.00 125000.00 (sub-component 1.1) Date 31-Dec-2011 31-Dec-2013 31-Jan-2018 Comments Due to a change in the Data shared by the CBT number of potential PFIs, this (March 5, 2014). The figure indicator has been re- will be updated in September computerized by the PIE 2014, once the CBT sends its (March 5, 2014). semi-annual report to the Bank. Volume of outstanding MSME loans in PFIs Amount(USD) Value 3.36 3.79 4.00 (sub-component 1.1) Date 31-Dec-2011 31-Dec-2013 31-Jan-2018 Comments Due to a change in the Data shared by the CBT In US$ billion number of potential PFIs, this (March 5, 2014). The figure indicator has been re- will be updated in September computerized by the PIE 2014, once the CBT sends its (March 5, 2014). semi-annual report to the Bank. Loans to women-led SME (sub-component 1.1) Percentage Value 12.00 12.00 13.00 Date 31-Dec-2013 23-Jun-2014 31-Jan-2018 Comments The figure will be updated in September 2014, once the CBT sends its semi-annual report to the Bank. Public Disclosure Copy Micro-finance loans financed by the Line of Number Value 0.00 0.00 10000.00 Credit (sub-component 1.2) Date 31-Dec-2013 23-Jun-2014 31-Jan-2018 Comments No applicable (Indicator introduced with the AF - not yet effective). Volume of micro-finance loans from the Line of Amount(USD) Value 0.00 0.00 25000000.00 Credit (sub-component 1.2) Date 31-Dec-2013 23-Jun-2014 31-Jan-2018 Page 3 of 6 The World Bank Report No: ISR15508 Comments No applicable (Indicator introduced with the AF - not yet effective). Public Disclosure Copy Micro-finance loans to women financed by the Percentage Value 50.00 50.00 60.00 Line of Credit (sub-component 1.2) Date 31-Dec-2013 23-Jun-2014 31-Jan-2018 Comments No applicable (Indicator introduced with the AF - not yet effective). Patient financing operations financed under Number Value 0.00 0.00 15.00 component 2 Date 31-Dec-2013 23-Jun-2014 31-Jan-2018 Comments No applicable (Indicator introduced with the AF - not yet effective). Volume of patient financing operations funded Amount(USD) Value 0.00 0.00 15.00 under component 2 Date 31-Dec-2013 23-Jun-2014 31-Jan-2018 Comments No applicable (Indicator introduced with the AF - not yet effective). Portfolio at Risk >90 days for MSMEs Percentage Value 21.60 24.10 21.60 (weighted by asset size) Date 31-Dec-2011 31-Dec-2013 31-Jan-2018 Comments Due to a change in the Data shared by the BCT Same or better than baseline number of potential PFIs, this (March 4, 2014). The figure indicator has been re- will be updated in September computerized by the PIE 2014, once the CBT sends its (March 4, 2014). semi-annual report to the Bank. Portfolio at Risk - Microfinance Percentage Value 3.00 3.00 3.00 Date 31-Dec-2013 23-Jun-2014 31-Jan-2018 Comments No applicable (Indicator introduced with the AF - not Public Disclosure Copy yet effective). Percentage of project-supported institutions Percentage Value 25.00 25.00 50.00 that are reporting on this indicator Sub Type Supplemental ROA of PFIs Percentage Value 1.20 1.20 Date 23-Jun-2014 Comments Data not yet available. Same or better than baseline Page 4 of 6 The World Bank Report No: ISR15508 Percentage of women employees in beneficiary Percentage Value 7.00 MSMEs Sub Type Supplemental Public Disclosure Copy Return on Assets/Equity Percentage Value 3.00 3.00 3.00 Date 30-Sep-2013 23-Jun-2014 31-Jan-2018 Comments No applicable (Indicator introduced with the AF - not yet effective). Percentage of project-supported institutions Percentage Value 25.00 25.00 50.00 that are reporting on this indicator Sub Type Supplemental Data on Financial Performance (as of 23-Apr-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P124341 IBRD-80810 Effective 14-Jul-2011 07-Sep-2011 04-Apr-2012 31-Jan-2017 31-Jan-2017 P124341 IBRD-83600 Not Effective 17-Apr-2014 31-Jan-2018 31-Jan-2018 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P124341 IBRD-80810 Effective USD 50.00 50.00 0.00 45.32 0.00 91.00 P124341 IBRD-83600 Not Effective USD 100.00 100.00 0.00 0.00 100.00 0.00 Disbursement Graph Public Disclosure Copy Page 5 of 6 The World Bank Report No: ISR15508 Public Disclosure Copy Key Decisions Regarding Implementation Document can be disclosed Restructuring History There has been no restructuring to date. Related Projects P146799-TN-MSME Development Project Additional Financing Public Disclosure Copy Page 6 of 6