The World Bank Report No: ISR10490 Implementation Status & Results Mexico Savings and Credit Sector Consolidation and Financial Inclusion Project (P123367) Public Disclosure Copy Operation Name: Savings and Credit Sector Consolidation and Financial Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 22-Jun-2013 Inclusion Project (P123367) Country: Mexico Approval FY: 2012 Product Line: IBRD/IDA Region: LATIN AMERICA AND CARIBBEAN Lending Instrument: Specific Investment Loan Implementing Agency(ies): Key Dates Board Approval Date 01-Dec-2011 Original Closing Date 31-Jul-2015 Planned Mid Term Review Date 01-Oct-2013 Last Archived ISR Date 09-Nov-2012 Effectiveness Date 02-Apr-2012 Revised Closing Date 31-Jul-2015 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the project is to support the: (a) consolidation of the savings and credit sector institutions (SCI); and (b) deepening of financial inclusion in selected areas and selected locations in Mexico. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Consolidation and Strengthening of savings and credit institutions (SCIs) 25.75 Broadening Access to financial services and products 140.05 Strengthening BANSEFI capacity 26.07 Project Management 17.50 Public Disclosure Copy Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status Overview Progress towards the achievement of PDOs and Overall Implementation Rating continue to be Satisfactory. The new BANSEFI management has confirmed its full commitment to both the objective and activities of the project and has provided its full support. Page 1 of 5 The World Bank Report No: ISR10490 Technical Assistance to support the Savings and Credit Institutions (SCIs) has been initiated on schedule. During 2012, a total of 632 TA assignments for individual entities were authorized, of which almost half were completed by December 2012. As of April 2013, 130 Savings and Credit Institutions (SCIs) have been certified by CNBV, representing more than three quarters of the entire savings and credit sector in terms of membership and assets. The end certification target by the Project’s Closing Date is 219. Public Disclosure Copy The PATMIR activities are in full swing and implementation is progressing according to plan. Membership through PATMIR has increased by 186,000. In addition, the membership of an additional 106,000 people is in process, indicating that about 35% of the target has been reach in the first year of implementation, a very encouraging achievement. All together, the sector has continued to grow to about 21.2 million members . The upgrade of the IT platform is almost completed and has successfully decreased its usage level (both in terms of memory and processing) to more acceptable safety international levels, while continuing to provide a wide range of services to about 17 million members/clients, including Oportunidades payments, remittances and microinsurance. Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Additional Entities certified by CNBV, the Text Value 0.00 20/0 120/15 regulatory agency / resolved Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments In addition to 99 Entities In addition to 99 Entities certified during Phases I and certified during Phases I and II of the project. II of the project. New Entities with improved performance on Number Value 0.00 61.00 85.00 financial and operational indicators Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments In addition to 293 entities In addition to 293 entities improved during Phases I and improved during Phases I and II of the project. II of the project. New clients mainstreamed into the formal Number Value 0.00 555408.00 1800000.00 financial sector and using financial services Date 30-Nov-2011 01-May-2013 31-Jul-2015 Public Disclosure Copy Comments In addition to 600,000 In addition to 600,000 members added during members added during phases I and II of the project. phases I and II of the project. Additional Entities offering an expanded range Number Value 0.00 6.00 70.00 of financial services through L@Red de la Date 30-Nov-2011 01-May-2013 31-Jul-2015 Gente Network Comments In addition to 275 entities In addition to 275 entities already part of L@Red de la already part of L@Red de la Gente through phases I and II Gente through phases I and II of project. of project. Page 2 of 5 The World Bank Report No: ISR10490 New saving accounts established Number Value 0.00 1000000.00 Date 27-Sep-2012 31-Jul-2015 Comments Baseline non available for Not available. Indicator to be 30% of which are for women. Public Disclosure Copy sector, but 600,000 new re-defined. accounts were created under the earlier project, 50% of which were for women. Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Entities receiving training and technical Number Value 0.00 168.00 255.00 assistance for certification / resolution Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments Training and Technical Assistance Provided to Number Value 0.00 56.00 130.00 Entities for operational improvement Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments New clients added to the formal financial sector Number Value 0.00 158839.00 825000.00 by technical service providers under PATMIR Date 30-Nov-2011 01-May-2013 31-Jul-2015 operation Comments DICONSA stores operating government Number Value 0.00 5993.00 2000.00 payments transfer Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments 95 are already operational in the pilot, but outside of the project target PEMEX points operating government payment Number Value 0.00 23.00 2000.00 transfers Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments BANSEFI clients using mobile phone banking Number Value 0.00 0.00 250000.00 Public Disclosure Copy services Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments Technology platform operating efficiently Text Value N/A 80/50 70/80 Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments The data refers respectively % use of memory/%use of to the use of the memory and processor capacity the processor. Indicator to be redefined. Page 3 of 5 The World Bank Report No: ISR10490 Core banking application package upgraded Number Value 0.00 0.20 1.00 Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments Public Disclosure Copy Entities receiving technical support to use Number Value 0.00 36.00 25.00 platform services Date 30-Nov-2011 01-May-2013 31-Jul-2015 Comments Data on Financial Performance (as of 14-May-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P123367 IBRD-81070 Effective 01-Dec-2011 13-Dec-2011 02-Apr-2012 31-Jul-2015 31-Jul-2015 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P123367 IBRD-81070 Effective USD 100.00 100.00 0.00 11.57 88.43 12.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation The next implementation support mission is scheduled for October, 2013, when a mid-term evaluation will take place. Page 4 of 5 The World Bank Report No: ISR10490 Restructuring History There has been no restructuring to date. Public Disclosure Copy Related Projects There are no related projects. Public Disclosure Copy Page 5 of 5