The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) EASTERN AND SOUTHERN AFRICA | Congo, Democratic Republic of | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2022 | Seq No: 3 | ARCHIVED on 16-Nov-2023 | ISR57716 | Implementing Agencies: Democratic Republic of Congo, Ministry of Small and Medium Enterprises and Entrepreneurship (Ministry of SMEs) Key Dates Key Project Dates Bank Approval Date: 02-May-2022 Effectiveness Date: 12-Dec-2022 Planned Mid Term Review Date: 23-Sep-2024 Actual Mid-Term Review Date: Original Closing Date: 30-Sep-2027 Revised Closing Date: 30-Sep-2027 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to enhance growth of new and existing MSMEs, especially women-owned, and promote job creation particularly for women in select geographic areas. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Support women entrepreneurs, firm creation and SME upgrading:(Cost $170.00 M) Financial Inclusion and Sustainable Access to Finance for Women Entrepreneurs and MSMEs:(Cost $60.00 M) Entrepreneurship Ecosystem Development:(Cost $60.00 M) Project Implementation:(Cost $10.00 M) Contingent Emergency Response Component Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions This is the third ISR which is based on three supervision missions (May, June and October 2023) and bi-weekly virtual supervision meetings with the PIU. The project was approved by the Board on May 2, 2022.The Financing Agreement was signed on June 1st, 2022. The project was declared effective on December 12, 2022. As of September 30, 2023, the disbursement is at 12 percent and on track. The project procurement plan covering 90 percent of financing is approved and backed by Terms of References for implementation partners reviewed and approved by the World Bank. The project progress is satisfactory at this stage. 11/16/2023 Page 1 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Substantial Substantial Substantial Macroeconomic Substantial Substantial Substantial Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Moderate Moderate Moderate Institutional Capacity for Implementation and Moderate Moderate Moderate Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Substantial Substantial Substantial Stakeholders Moderate Moderate Moderate Other Moderate Moderate Moderate Overall Substantial Moderate Moderate Results PDO Indicators by Objectives / Outcomes Growth of MSMEs IN01338190 ►Additional annual revenue generated by supported MSMEs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 This indicator intends to measure the increase in the average annual revenue that is generated by Comments: supported MSMEs. IN01338243 Additional annual revenue generated by supported women-owned MSMEs (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 IN01338245 ►Supported MSMEs generating additional annual revenue (Number, Custom) 11/16/2023 Page 2 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 15,000.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 Comments: Number of supported MSMEs that generated the additional annual revenue IN01338247 Supported women-owned MSMEs generating additional annual revenue (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 7,500.00 Job creation by MSMEs IN01338241 ►Additional jobs created by supported MSMEs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 28,000.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 This indicator intends to count the total number of full time-jobs the project contributed to creating. Given Comments: the assumption that employment generated through the project could include seasonal part-time basis workers, working hours will be accumulated to calculate the equivalent full-time jobs. IN01338244 Additional jobs for women created by supported MSMEs (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 14,000.00 IN01338246 ►Supported MSMEs creating additional jobs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 14,000.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 This indicator intends to measure the number of supported MSMEs that created additional jobs with Comments: support from the project. IN01338248 Supported MSMEs that create additional jobs for women (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 7,000.00 Strengthen the ability of MSMEs to face climate change challenges and adopt climate-smart technology IN01338242 11/16/2023 Page 3 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) ►Productive infrastructure investments supported by the project that apply climate resilience standards (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 60,000,000.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 This indicator will measure the overall funding portfolio dedicated to climate mitigation or adaptation activities, such as clean energy investments, climate change capacity training plan, adaptation plan, waste Comments: management, and recycling. This funding will be primarily allocated under the subsidies (in-kind grants to women entrepreneurs, grants for new MSMEs, matching grants for existing SMEs, and subsidies to SME Centers). Intermediate Results Indicators by Components Support women entrepreneurs, firm creation and SME upgrading IN01338249 ►Beneficiaries of entrepreneurship and management support (technical and behavioral training and mentoring) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 42,750.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 Number of MSMEs and individuals attending and completing entrepreneurship and management support training programs. This indicator captures all the training provided directly through activities financed by Comments: the project, including personal initiative training and mentoring of women-entrepreneurs, training and mentoring of startup entrepreneurs, and coaching and mentoring of existing SMEs who are participating in the matching grant programs. IN01338252 Women entrepreneurs trained/mentored (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 31,375.00 IN01338256 New entrepreneurs trained/mentored (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 12,000.00 IN01338258 Existing SMEs trained/mentored (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 750.00 IN01338261 ►Number of MSMEs supported with grants (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 11/16/2023 Page 4 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Value 0.00 0.00 0.00 13,250.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 Number of MSMEs who applied for and received full grant amount (total number of MSMEs that received Comments: funding through the project) IN01338264 Women entrepreneurs supported with grants (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 11,625.00 IN01338267 New formal MSMEs established with grant support (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,500.00 IN01338268 Existing SMEs that implemented technology upgrading activities using matching grant support (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 750.00 Financial Inclusion and Sustainable Access to Finance for Women Entrepreneurs IN01338250 ►Beneficiaries reached with financial services (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30,000.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 The indicator measures the number of persons benefited from financial services in operations supported Comments: by the Bank, and the number of businesses that benefited from financial services. IN01338253 Persons that benefited from financial services (Number, Corporate Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 23,000.00 Date 14-Jun-2022 25-Jul-2022 25-Jul-2022 14-Jun-2027 IN01338257 Persons that benefited from financial services – Female (Number, Corporate Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20,000.00 IN01338259 Businesses that benefited from financial services (Number, Corporate Breakdown) Baseline Actual (Previous) Actual (Current) End Target 11/16/2023 Page 5 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Value 0.00 0.00 0.00 5,000.00 Date 14-Jun-2022 25-Jul-2022 25-Jul-2022 14-Jun-2027 IN01338262 ►Guaranteed loans disbursed to MSMEs with support of the Partial Portfolio Credit Guarantee fund (Amount(USD), Custom, PBC) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 66,000,000.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 Comments: Amount of loans disbursed to MSMEs that are backed up by the Portfolio Credit Guarantee fund IN01338265 Guaranteed loans disbursed to women-owned MSMEs (Amount(USD), Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 44,000,000.00 IN01338266 ►Remaining available PPCGF endowment (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 85.00 Date 29-Apr-2027 25-Jul-2022 25-Jul-2022 30-Sep-2027 Comments: Remaining available PPCGF endowment for the MSMEs as percentage of the endowment received. Entrepreneurship Ecosystem Development IN01338251 ►Implemented reforms supporting private sector development (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 IN01338254 Reforms including support for women entrepreneurs (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 3.00 IN01338255 ►Firms benefiting from private sector initiatives (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1,000.00 11/16/2023 Page 6 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 IN01338260 Women-owned MSMEs benefitting from private sector initiatives (SME Centers) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 50.00 IN01338263 ►Public agencies offer new/improved programs and services to support entrepreneurs, MSMEs and private investors in the DRC (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 8.00 Date 29-Apr-2022 25-Jul-2022 25-Jul-2022 30-Sep-2027 This indicator will measure the effect of the institutional capacity building of various public sector agencies involved in investment promotion and entrepreneurship development, including the investment promotion Comments: agency, the newly created agency for enterprises development, the National Agency for the Environment, national laboratories, certification centers, and other public facilities, and social public procurement. Performance-Based Conditions IN01338269 ►PBC 1 Guaranteed loans disbursed to MSMEs with support of the Partial Portfolio Credit Guarantee fund (Amount(USD), Output, 10,000,000.00, 3.33%) USD18,000,000 of loans/credits Baseline Actual (Previous) Actual (Current) guaranteed Value 0.00 0.00 0.00 -- Date -- 25-Jul-2022 25-Jul-2022 -- IN01338270 ►PBC 2 Guaranteed loans disbursed to MSMEs with support of the Partial Portfolio Credit Guarantee fund (Amount(USD), Intermediate Outcome, 27,000,000.00, 9.00%) USD18,000,000 of loans/credits Baseline Actual (Previous) Actual (Current) guaranteed Value 0.00 0.00 0.00 -- Date -- 25-Jul-2022 25-Jul-2022 -- Data on Financial Performance 11/16/2023 Page 7 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P178176 IDA-71010 Effective USD 150.00 150.00 0.00 14.65 135.35 9.8% P178176 IDA-E0280 Effective USD 150.00 150.00 0.00 18.92 124.22 13% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P178176 IDA-71010 Effective 02-May-2022 01-Jun-2022 21-Dec-2022 30-Sep-2027 30-Sep-2027 P178176 IDA-E0280 Effective 02-May-2022 01-Jun-2022 12-Dec-2022 30-Sep-2027 30-Sep-2027 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 11/16/2023 Page 8 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) 11/16/2023 Page 9 of 9