The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Henan Green Agriculture Fund Project (P169758) EAST ASIA AND PACIFIC | China | Agriculture and Food Global Practice | IBRD/IDA | Investment Project Financing | FY 2020 | Seq No: 7 | ARCHIVED on 16-Dec-2023 | ISR58851 | Implementing Agencies: Henan Agriculture Development Fund Investment Corporation, People’s Republic of China Key Dates Key Project Dates Bank Approval Date: 26-Mar-2020 Effectiveness Date: 14-Oct-2021 Planned Mid Term Review Date: 15-Apr-2024 Actual Mid-Term Review Date: Original Closing Date: 31-Dec-2026 Revised Closing Date: 31-Dec-2026 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The proposed objective is to demonstrate the viability of financing green agriculture investments, and foster the innovation and adoption of green agriculture standards and technologies in Henan. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component 1: Green Agriculture Fund:(Cost $285.00 M) Component 2: Technical Assistance and Innovation Challenge:(Cost $15.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions The project implementation is progressing, albeit at a slower than initially planned pace, mostly due to the substantially higher than domestic cost of on-lending funds. The initial withdrawal of US$ 58.51 million equivalent is expected to be fully allocated in five sub-projects and accounted for by December 31, 2023. Technical assistance activities are also underway, in particular good progress has been achieved with the GAF staff training. 12/16/2023 Page 1 of 6 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Low Low Low Macroeconomic Moderate Moderate Moderate Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Substantial Substantial Substantial 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 Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes Support the transformation of Henan agricultural sector through financing of green investments IN01370012 ►1. Amount of externally leveraged investments in green finance (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 25,985,714.00 300,000,000.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370013 ►2. Number of applications of replicable green agriculture technology solutions supported by the project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2.00 2.00 20.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370014 ►3. Reduced GHG emissions from the application of green standards and technologies (MT) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 10.37 25.00 12/16/2023 Page 2 of 6 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 Intermediate Results Indicators by Components Component 1: Green Agriculture Fund IN01370041 ►1.1 Enterprises adopting green agricultural technology (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2.00 2.00 60.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370043 ►1.2 Amount of external capital into sub-fund investments (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30,000,000.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370044 ►1.3 Average return on assets of the sub-projects weighted by the amount of equity investments (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 >0 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370046 ►1.4 Debt portfolio at risk (PAR) as of 90 days late (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 <5 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370048 ►1.5 Utilization rate of manure (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 95.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370050 ►1.6 Energy savings from agriculture storage, processing, distribution or logistics (Percentage, Custom) 12/16/2023 Page 3 of 6 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 8.78 15.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370052 ►1.7 Share of investee firms are women-owned/women-led (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 50.00 100.00 9.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370053 ►1.8 Share of investee enterprises that feel sub-project finance reflects their needs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 70.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 Component 2: Technical Assistance and Innovation Challenge IN01370015 ►2.1 HADFIC to formulate relevant operational policies and procedures on the environmental and social risk management (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370042 ►2.2 HADFIC staff trained in green investment capacity building programs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 130.00 30.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370045 ►2.3 Number of innovations funded through challenge fund (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370047 ►2.4 Number of market studies on alternative sources of funding for GAF (Number, Custom) 12/16/2023 Page 4 of 6 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370049 ►2.5 Number of agricultural green agriculture standards (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 IN01370051 ►2.6 Share of female investment professionals in the GAF investment team (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 50.00 53.00 55.00 50.00 Date 31-Dec-2018 14-Apr-2023 05-Dec-2023 31-Dec-2026 Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P169758 IBRD-90460 Effective USD 300.00 300.00 0.00 58.51 239.74 20% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P169758 IBRD-90460 Effective 26-Mar-2020 16-Jun-2021 14-Oct-2021 31-Dec-2026 31-Dec-2026 Cumulative Disbursements 12/16/2023 Page 5 of 6 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/16/2023 Page 6 of 6