The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314) MSME Development Project for Inclusive Growth (P132314) MIDDLE EAST AND NORTH AFRICA | Jordan | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2013 | Seq No: 12 | ARCHIVED on 18-Oct-2019 | ISR38771 | Implementing Agencies: Central Bank of Jordan, Government of Jordan Key Dates Key Project Dates Bank Approval Date: 05-Mar-2013 Effectiveness Date: 09-Jun-2013 Planned Mid Term Review Date: 15-Jun-2014 Actual Mid-Term Review Date: 15-Jun-2014 Original Closing Date: 31-Dec-2015 Revised Closing Date: 31-Dec-2020 pdoTable 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 Objective? No Components Table Name Line of Credit to MSMEs:(Cost $70.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Low Low Implementation Status and Key Decisions The MSME Development for Inclusive Growth Project-Additional Financing (US$ 50 million):  The line of credit was fully disbursed to nine participating financial intermediaries (PFIs); namely, Cairo Amman Bank, Jordan Kuwait Bank, Blom Bank, Arab Bank, Ahli Bank, Capital Bank, Housing Bank for Trade and Finance, Arab International Islamic Bank and the Jordan Islamic Bank.  91 percent of this amount (US$ 43.3 million) has been on-lent to 3,345 project beneficiaries (MSMEs). 10/18/2019 Page 1 of 8 The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314)  The Project is achieving effective targeting of women (79 percent of project beneficiaries) and youth [1] (48 percent of project beneficiaries).  The Project increased its geographical outreach as 67 percent of the beneficiaries are in Governorates outside Amman o (1) youth is defined as those below the age of 35. 10/18/2019 Page 2 of 8 The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314) 10/18/2019 Page 3 of 8 The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314) 10/18/2019 Page 4 of 8 The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Moderate Moderate Macroeconomic -- Moderate Moderate Sector Strategies and Policies -- Low Low Technical Design of Project or Program -- Low Low Institutional Capacity for Implementation and Sustainability -- Low Low Fiduciary -- Moderate Moderate Environment and Social -- Moderate Moderate Stakeholders -- Moderate Moderate Other -- Low Low Overall -- Low Low Results PDO Indicators by Objectives / Outcomes Improve MSMEs access to finance in Jordan IN00750203 ►Direct project beneficiaries (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 10/18/2019 Page 5 of 8 The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314) Value 0.00 12,569.00 12,595.00 3,500.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 9,250 MSME beneficiaries under the parent project and 3,345 MSME beneficiary under the Additional Comments: financing project. IN00750204 Female beneficiaries (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 78.70 79.00 35.00 IN00750205 ►Overall MSME portfolio of partcipating banks (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 9.00 9.00 9.00 10.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 IN00750211 ►Portfolio at Risk - SME (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 5.00 2.00 2.00 4.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 Portfolio at risk for the participating banks under additional financing is 2% compared to 4.9% under Comments: parent project reported in October, 2017. IN00750212 ►Number of jobs created by MSMEs Project Beneficiaries (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 7,682.00 8,386.00 5,500.00 Date 31-Mar-2012 31-Dec-2016 30-Jun-2019 31-Dec-2020 The number of Jobs created is as follows: 7,682 under the (parent project) and 704 under the (AF). Comments: Intermediate Results Indicators by Components Line of Credit to MSMEs IN00750213 ►Volume of Lending to MSMEs under the Line of Credit (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 143.90 146.70 120.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 IN00750214 10/18/2019 Page 6 of 8 The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314) ►Enterprises in Governorates other than Amman as a percent of total businesses served by the line of credit (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 66.70 67.00 30.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 Enterprises in Governorates other than Amman as a percent of total businesses served by the line of Comments: credit recorded 67% as of June 30, 2019. IN00750215 ►Youth owned businesses as a percent of total businesses served by the line of credit (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 47.70 48.00 20.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 Youth owned businesses as a percent of total businesses served by the line of credit recorded 48% as of Comments: June 30, 2019. IN00750216 ►Number of term loans to MSMEs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 13,557.00 13,568.00 1,500.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 This includes both the additional financing and the parent project out of which the number of term loans to Comments: MSMEs under the additional financing is 2,926. IN00750217 ►Number of MFIs engaged in micro enterprise lending under the line of credit (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.00 4.00 2.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 IN00750218 ►Number of banks engaged in MSME lending (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 9.00 9.00 12.00 Date 31-Mar-2012 31-Dec-2018 30-Jun-2019 31-Dec-2020 Data on Financial Performance Disbursements (by loan) 10/18/2019 Page 7 of 8 The World Bank Implementation Status & Results Report MSME Development Project for Inclusive Growth (P132314) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P132314 IBRD-82320 Effective USD 70.00 70.00 0.00 70.00 0.00 100% P132314 IBRD-84970 Effective USD 50.00 50.00 0.00 50.00 0.00 100% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P132314 IBRD-82320 Effective 05-Mar-2013 12-Mar-2013 09-Jun-2013 31-Dec-2015 31-Dec-2020 P132314 IBRD-84970 Effective 10-Apr-2015 17-Apr-2015 15-Jul-2015 31-Dec-2020 31-Dec-2020 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) P153987-JO-MSME Development for Inclusive Growth 10/18/2019 Page 8 of 8