The World Bank Report No: ISR15378 Implementation Status & Results Morocco Morocco Microfinance Development Project (P144500) Public Disclosure Copy Operation Name: Morocco Microfinance Development Project (P144500) Project Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 06-Jul-2014 Country: Morocco Approval FY: 2014 Product Line: Recipient Executed Activities Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Ministry of Economy and Finance Key Dates Board Approval Date 09-Jul-2013 Original Closing Date 31-Jan-2018 Planned Mid Term Review Date Last Archived ISR Date 29-Nov-2013 Effectiveness Date 25-Jul-2013 Revised Closing Date 31-Jan-2018 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The project objective is to promote access to finance to low income households and micro and small enterprises through the promotion of a sustainable and inclusive microfinance sector. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Strengthening the institutional, legal, regulatory, tax and governance framework for microfinance 1.90 Strengthening the market infrastructure, product innovation and funding sources for microfinance 1.50 Integrating Microfinance into a national financial inclusion strategy 1.50 Overall Ratings Previous Rating Current Rating Public Disclosure Copy Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status Overview This grant, financed under the Middle East and North Africa Transition Fund, became effective upon signing of the Grant Agreement on July 25, 2013. The project implementation unit (PIU) has recruited a procurement consultant and financial management consultant and the team has launched the first three activities: 1. Modernization of the legal, regulatory and institutional of the Moroccan Microfinance Sector, 2. Supporting the commercialization of products of microenterprises, 3. Establishment of an M&E and Impact Evaluation Center for Financial Inclusion Policies. Page 1 of 4 The World Bank Report No: ISR15378 Locations No Location data has been entered Public Disclosure Copy Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target % of Adults (and women) with an account at a Percentage Value 0.00 0.00 12.00 formal financial institution, including low income Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 households Comments No of active loan accounts -Microfinance Number Value 804000.00 804000.00 1100000.00 Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 Comments Percentage of project-supported institutions Percentage Value 100.00 100.00 100.00 that are reporting on this indicator Sub Type Supplemental Portfolio at Risk - Microfinance Percentage Value 6.70 6.70 6.40 Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 Comments Percentage of project-supported institutions Percentage Value 100.00 100.00 100.00 that are reporting on this indicator Sub Type Supplemental Outstanding Microfinance Loan Portfolio Amount(USD) Value 550.00 550.00 590.00 Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 Comments Percentage of project-supported institutions Percentage Value 100.00 100.00 100.00 that are reporting on this indicator Sub Type Public Disclosure Copy Supplemental Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Strengthening Institutional, Legal, Regulatory, Number Value 0.00 0.00 3.00 Tax and Governance Framework for Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 Microfinance: Regulatory Studies Completed Comments Page 2 of 4 The World Bank Report No: ISR15378 Strengthening Institutional, Legal, Regulatory, Number Value 0.00 0.00 3.00 Tax and Governance Frameowrk for Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 Microfinance: Number of operational and Comments regulatoryinitiatives implemented by BAM and Public Disclosure Copy other key stakeholders Strengthening Market infrastructure, product Number Value 0.00 0.00 3.00 innovation and funding sources for Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 microfinance: Number of Alternative Comments Microfinance Products developed and piloted Strengthening market infrastructure, product Number Value 0.00 0.00 1100.00 innovation and funding sources for Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 microfinance: Number of Trainings to Micro Comments Entrepreneurs Delivered Integrating Microfinance into a national Yes/No Value No No Yes financial inclusion strategy: Financial Inclusion Date 01-Dec-2012 06-Nov-2013 01-Dec-2014 Stock-Taking Completed Comments Integrating Microfinance into a national Yes/No Value No No Yes financial inclusion strategy: Evaluation Date 01-Dec-2012 06-Nov-2013 01-Dec-2013 Completed of Existing Financial Inclusion Comments Measures Integrating Microfinance into a national Number Value 6000.00 6000.00 14000.00 financial inclusion strategy: Number of Date 01-Dec-2012 06-Nov-2013 01-Dec-2016 Beneficiaries Receiving Financial Literacy Comments (4,099 from CM6; 2,000 Training estimates from BAM) Data on Financial Performance (as of 31-Mar-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date Public Disclosure Copy P144500 TF-15084 Effective 25-Jul-2013 25-Jul-2013 25-Jul-2013 31-Jan-2018 31-Jan-2018 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P144500 TF-15084 Effective USD 4.90 4.90 0.00 0.49 4.41 10.00 Disbursement Graph Page 3 of 4 The World Bank Report No: ISR15378 Public Disclosure Copy Key Decisions Regarding Implementation Document can be disclosed. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4