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: 11 | ARCHIVED on 24-Mar-2023 | ISR55272 | 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 $4.50 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions The F4J II Project has been making considerable progress towards the achievement of the project development objective and intermediate targets. The number of ICF investments and DIB trainings continue on a satisfactory basis, with a total of 1,361 jobs created and US$ 56.2 million in private capital mobilized. During this reporting period the team has processed a restructuring of the project to account for delays in implementation as a result of COVID-19 as well as increased demand under the DIB. Furthermore, the team started exploring potential follow up activities under a new project under the SoP. 3/25/2023 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 Substantial High Macroeconomic High High High Sector Strategies and Policies Substantial Moderate Moderate Technical Design of Project or Program Substantial Moderate Moderate Institutional Capacity for Implementation and Substantial Moderate Moderate Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Moderate Stakeholders Substantial Moderate Moderate Other -- Substantial -- Overall High Substantial Substantial Results PDO Indicators by Objectives / Outcomes To test the effectiveness of selected financial interventions in incentivizing private sector invest IN01264481 ►Private Capital Mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 47,570,000.00 56,200,000.00 55,000,000.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Mar-2025 IN01264484 ►Number of jobs created (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 902.00 1,361.00 2,800.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Mar-2025 3/25/2023 Page 2 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Overall Comments PDO On progress towards achieving the PDO, the project has made considerable progress in mobilizing private capital. The project has overachieved its targets on private capital mobilization. Nevertheless, some lag has been visible on job creation due to the consequences of the COVID-19 pandemic and of the conflict in Gaza in 2021, having only achieved 1361 jobs created compared to the target of 1500. This has been to some extend a result of the COVID-19 pandemic and the FCV state which has delayed several ICF projects. To this end, the team is downgrading the rating to Moderately Satisfactory and the team has processed a restructuring of the project to account for the difficulties. Intermediate Results Indicators by Components Development Impact Bond (DIB) for Skills Development and Employment IN01264482 ►Number of beneficiaries accepted onto the DIB Program (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 889.00 1,055.00 1,240.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Dec-2023 IN01264489 Number of DIB beneficiaries accepted onto the DIB Program -- women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 395.00 481.00 500.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Dec-2023 IN01264486 ►Number of beneficiaries starting employment (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 339.00 450.00 520.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Dec-2023 IN01264491 Number of beneficiaries starting employment --women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 136.00 179.00 160.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Dec-2023 IN01264487 ►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 Value 0.00 626.00 820.00 1,010.00 3/25/2023 Page 3 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Dec-2023 IN01264493 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 0.00 291.00 400.00 410.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Dec-2023 Investment Co-Financing Facility (ICF) and Development Impact Bond (DIB) for Skills Development IN01264483 ►Firms benefiting from private sector initiatives (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 74.00 76.00 106.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Mar-2025 IN01264485 ►Beneficiaries of job-focused interventions (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,545.00 2,075.00 3,600.00 Date 01-Sep-2017 21-Sep-2022 09-Mar-2023 31-Mar-2025 IN01264490 Beneficiaries of job-focused interventions - Youth (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,116.00 1,520.00 2,000.00 IN01264492 Beneficiaries of job-focused interventions - Female (Number, Corporate Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 483.00 610.00 1,000.00 IN01264488 ►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 21-Sep-2022 09-Mar-2023 31-Dec-2024 Overall Comments IR 3/25/2023 Page 4 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) The DIB indicators are performing overall very well, showing a high female participation rate and employment as a result of the trainings provided. Overall, the number of beneficiaries is also in line with the expected targets for 2022. 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 Effective USD 8.00 8.00 0.00 8.00 0.00 100% P159337 TF-A8159 Effective USD 5.00 5.00 0.00 3.82 1.18 76% P159337 TF-B5070 Effective USD 10.00 10.00 0.00 0.45 9.55 4.5% 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 Effective 27-Sep-2017 27-Sep-2017 27-Nov-2017 29-Oct-2021 15-Oct-2023 P159337 TF-A8159 Effective 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 3/25/2023 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 3/25/2023 Page 6 of 6