The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Finance for Jobs II (P159337) MIDDLE EAST AND NORTH AFRICA | West Bank and Gaza | Finance, Competitiveness and Innovation Global Practice | Special Financing | Investment Project Financing | FY 2018 | Seq No: 13 | ARCHIVED on 09-Apr-2024 | ISR60280 | Implementing Agencies: Ministry of Finance, Palestine Liberation Organization (for the benefit of the Palestinian Authority), Project Implementing Agency (DAI) Key Dates Key Project Dates Bank Approval Date: 27-Jul-2017 Effectiveness Date: 27-Nov-2017 Planned Mid Term Review Date: 24-Feb-2020 Actual Mid-Term Review Date: 24-Feb-2020 Original Closing Date: 31-Mar-2025 Revised Closing Date: 31-Mar-2025 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) To test the effectiveness of selected financial interventions in incentivizing private sector investment and job creation. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Development Impact Bond (DIB) for Skills Development and Employment:(Cost $6.25 M) Investment Co-Financing Facility (ICF):(Cost $13.75 M) Entrepreneurship Ecosystem Matching Grant (EE-MG) Project Management:(Cost $4.50 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions During this reporting period the project has been considerable impacted by the ongoing conflict in Gaza. This has resulted in damage to all supported ICF grantees in that area. Under the DIB component, all activities have been finalized in September 2023 and the final verification report shows that the DIB has successfully placed 663 youth in jobs, with 566 and 479 of them sustained for 3- and 6-months respectively. A project restructuring is being planned to align with the emergency response proposal the team developed to support MSMEs in the West Bank and Gaza during and after conflicts. 4/9/2024 Page 1 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance High High High Macroeconomic High High High Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Substantial Moderate Moderate Institutional Capacity for Implementation and Substantial Moderate Substantial Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Moderate Stakeholders Substantial Moderate Substantial Other -- -- -- Overall High Substantial Substantial Results PDO Indicators by Objectives / Outcomes To test the effectiveness of selected financial interventions in incentivizing private sector invest IN01412981 ►Private Capital Mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 56,200,000.00 61,800,000.00 55,000,000.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Mar-2025 IN01412982 ►Number of jobs created (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,741.00 1,893.00 2,800.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Mar-2025 4/9/2024 Page 2 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Overall Comments PDO PCM: Combined private capital mobilized/committed under the ICF and DIB components by the end of the reporting period was $61.8 million. Cumulative private capital mobilized/committed by the ICF grantees is about $60 million. To note is that i) previously reported capital mobilization by Afana and Al Forat projects were deducted as the agreements were terminated; and ii) that starting Q4 2023, the PIA is accounting for actual capital mobilization of grantees instead of committed capital mobilization. Capital mobilized under the DIB component is $1.8 million, representing commitments from four investors to the DIB SPV’s. Jobs Created: 1,414 direct and indirect jobs were created under the ICF and results were adjusted downwards due to the termination of two grant agreements. Furthermore, 479 jobs were reported under the DIB. Intermediate Results Indicators by Components Development Impact Bond (DIB) for Skills Development and Employment IN01412983 ►Number of beneficiaries accepted onto the DIB Program (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,235.00 1,374.00 1,240.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Dec-2023 IN01412986 Number of DIB beneficiaries accepted onto the DIB Program -- women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 574.00 648.00 500.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Dec-2023 IN01412987 ►Number of beneficiaries starting employment (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 550.00 633.00 520.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Dec-2023 IN01412990 Number of beneficiaries starting employment --women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 217.00 255.00 160.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Dec-2023 IN01412991 ►Number of beneficiaries that have completed employment skills training (in class and/or on the job) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 4/9/2024 Page 3 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Value 0.00 970.00 1,082.00 1,010.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Dec-2023 IN01412993 Number of beneficiaries that have completed employment skills training (in class and/or on the job) - women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 488.00 545.00 410.00 Date 01-Sep-2017 30-Jun-2023 30-Jun-2023 31-Dec-2023 Investment Co-Financing Facility (ICF) and Development Impact Bond (DIB) for Skills Development IN01412984 ►Firms benefiting from private sector initiatives (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 85.00 109.00 106.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Mar-2025 IN01412985 ►Beneficiaries of job-focused interventions (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2,548.00 2,758.00 3,600.00 Date 01-Sep-2017 30-Jun-2023 20-Mar-2024 31-Mar-2025 IN01412988 Beneficiaries of job-focused interventions - Youth (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,722.00 1,897.00 2,000.00 IN01412989 Beneficiaries of job-focused interventions - Female (Number, Corporate Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 751.00 810.00 1,000.00 IN01412992 ►Beneficiaries that feel project investments reflected their needs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 85.00 Date 01-Sep-2017 30-Jun-2023 30-Jun-2023 31-Dec-2024 4/9/2024 Page 4 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Overall Comments IR All DIB Intermediate results have achieved their target at the end of component implementation. Other intermediate targets are on track to be achieved. To note is that the beneficiary satisfaction survey this year was postponed because of the war and reported results remain from the previous reporting period. Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P159337 TF-A5114 Closed USD 1.50 1.50 0.00 1.50 0.00 100% P159337 TF-A5297 Closed USD 8.00 8.00 0.00 8.00 0.00 100% P159337 TF-A8159 Closed USD 5.00 5.00 0.00 5.00 0.00 100% P159337 TF-B5070 Effective USD 10.00 10.00 0.00 3.50 6.50 35% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P159337 TF-A5114 Closed 27-Sep-2017 27-Sep-2017 27-Nov-2017 31-Mar-2021 30-Jun-2022 P159337 TF-A5297 Closed 27-Sep-2017 27-Sep-2017 27-Nov-2017 29-Oct-2021 15-Oct-2023 P159337 TF-A8159 Closed 10-Aug-2018 30-Aug-2018 12-Nov-2018 29-Oct-2021 15-Oct-2023 P159337 TF-B5070 Effective 02-Feb-2021 21-Mar-2021 19-May-2021 31-Mar-2025 31-Mar-2025 Cumulative Disbursements 4/9/2024 Page 5 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Restructuring History Level 2 Approved on 07-Nov-2018 ,Level 2 Approved on 12-Nov-2020 ,Level 2 Approved on 02-Mar-2023 Related Project(s) P167675-Finance for Jobs II Additional Financing ,P175414-Finance for Jobs II Second Additional Financing - COVID-19 Response 4/9/2024 Page 6 of 6