The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Senegal Jobs, Economic Transformation & Recovery Program (P174757) WESTERN AND CENTRAL AFRICA | Senegal | Finance, Competitiveness and Innovation Global Practice | Requesting Unit: AWCF1 | Responsible Unit: EAWF1 IBRD/IDA | Program-for-Results Financing | FY 2021 | Team Leader(s): Meriem Ait Ali Slimane, Laurent Gonnet Seq No: 3 | ARCHIVED on 28-Sep-2022 | ISR53120 | Created by: Roselyne CH Massanvi Akibode Mabudu on 22-Sep-2022 | Modified by: Meriem Ait Ali Slimane on 23-Sep-2022 Program Development Objectives PDO Table Program Development Objective (from Program Appraisal Document) Improve the competitiveness of selected value chains, MSMEs capabilities, and private sector investment in Senegal Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Implementation Status and Key Decisions The program became effective on August 13, 2021. Implementation has started slowly but progressed at a faster pace in the past semester, with promising outcomes, on all fronts: value chains competitiveness, technology adoption, access to finance, and PPPs. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P174757 IDA-68810 Effective USD 125.00 125.00 0.00 27.80 88.40 24% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P174757 IDA-68810 Effective 21-May-2021 04-Jun-2021 13-Aug-2021 30-Jun-2025 30-Jun-2025 DLI Disbursement Achievement Disbursed amount in Disbursement % for DLI ID DLI Type Description Coc DLI Amount Status Coc DLI Loan: IDA68810-001 DLI1imp val chain 1 Regular EUR 7,768,000.00 Not Achieved 0.00 cmptvnss by cmp tskfor 9/28/2022 Page 1 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) DLI 2,incrs tech index 2 Regular EUR 4,260,000.00 Not Achieved 0.00 match grant benef DLI 3,amt supp tech adopt 3 Regular EUR 16,188,000.00 Not Achieved 0.00 match grant DLI4loan MSMEs grtd 4 Regular EUR 31,524,000.00 Not Achieved 0.00 FOGADEV orFOGAREX DLI 5, leverage ratio for 5 Regular EUR 11,076,000.00 Not Achieved 0.00 FOGADEV DLI6,amt prv invst 6 Regular EUR 24,708,000.00 Not Achieved 0.00 HybSME51-49%prv pu sp DLI7, PPP pjct E&S risk 7 Regular EUR 11,076,000.00 Not Achieved 0.00 cat 2 ntl risk s Program Action Plan The Competitiveness Taskforce Is established within the Directorate General for Cooperation, External Financing and Action Description Private Sector Development (DGCFEDSPP), and includes at least 8 full time staff. Source DLI# Responsibility Timing Timing Value Status Technical DLI 1 MEPC Due Date 31-Dec-2021 Completed CV and work contract of the staff of the competitiveness taskforce. Completion Measurement Comments Action Description The DGCFEDSPP establishes a Program implementation unit, which includes adequate staff. Source DLI# Responsibility Timing Timing Value Status Technical DLI 1 MEPC Due Date 30-Jun-2021 In Progress Completion Measurement Internal circular establishing the Program implementation unit The internal circular has been signed by the Minister of Economy, Planning and Cooperation and is awaiting Comments signature by the Minister of Finance and Budget. However, the team is in place and started working on the PforR. Action Description The PPP Unit is established under MEPC and equipped with a coordinator and at least 2 qualified full-time staff Source DLI# Responsibility Timing Timing Value Status Technical DLI 7 MEPC Due Date 30-Sep-2021 Completed MEPC organizational chart and CV of the coordinator and at least two key staff members shared with the World Bank Completion Measurement team. Comments 9/28/2022 Page 2 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Terms of reference prepared for project preparation work for 3 PPP projects from among the published pipeline, Action Description including for environmental and social impact analysis following national requirements Source DLI# Responsibility Timing Timing Value Status Technical DLI 9 MEPC Other Ad hoc Not Yet Due Completion Measurement TOR shared with the World Bank team. Comments Action Description Feasibility studies prepared for 3 PPP projects, including final environmental and social impact analysis Source DLI# Responsibility Timing Timing Value Status Technical DLI 9 MEPC Other Ad hoc Not Yet Due Summary of feasibility study results shared with the World Bank team, including the conclusions of the ESIA as Completion Measurement required consistent with the categorization of the projects (as category 2 according to the national system) Comments Adoption of statutes of SOPROFI and registration of SOPROFI with Registre du Commerce et du Crédit Mobilier Action Description (RCCM) Dakar Source DLI# Responsibility Timing Timing Value Status Technical DLI 6 FONSIS Due Date 30-Jun-2021 Delayed FONSIS sends an official letter to the Bank with (i) copy of the statutes of SOPROFI; and (ii) copy of registration of Completion Measurement SOPROFI with RCCM Dakar Comments Despite many reminders, FONSIS did not share the Statutes of SOPROFI yet (for comments). Completion of international competitive selection of private Fund manager and signature of Fund management Action Description contract Source DLI# Responsibility Timing Timing Value Status Technical DLI 6 FONSIS Due Date 30-Dec-2022 In Progress (i) proof of international competitive selection of private Fund manager (ii) Fund manager AIFM license & AIFM Completion Measurement marketing passport with regulatory authority in EU (iii) proof of independence of the Fund management iv) signed Fund management contract. The pre-qualification phased has been launched in August 2021. Candidates have been shortlisted. The selection of Comments the final candidate is expected to occur in December 2022. Action Description Completion of Fund Prospectus in accordance with EU AIFM Directive Source DLI# Responsibility Timing Timing Value Status 9/28/2022 Page 3 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Technical DLI 6 FONSIS Due Date 31-Mar-2023 Delayed SOPROFI sends an official letter to the Bank with copy of Fund Prospectus registered with regulatory authority in EU Completion Measurement Member State 1/ Comments Given the delays incurred with the selection of the FM, this step is now tentatively scheduled in March 2023. Signature of Limited Partnership Agreement (LPA) of Feeder Fund and registration of Feeder Fund with regulatory Action Description authority in EU Member State and Signature of statutes of Domestic Fund company and its registration company with RCCM Dakar Source DLI# Responsibility Timing Timing Value Status Technical DLI 6 FONSIS Due Date 29-Sep-2023 Delayed SOPROFI shares with the Bank a copy of (i)signed LPA of Feeder Fund (ii)registration of Feeder Fund with regulatory Completion Measurement authority in EU Member State, (iii)signed statutes of Domestic Fund company;(iv)registration of Domestic Fund company in RCCM Dakar. Comments Given the delays incurred with the selection of the FM, this step is now tentatively scheduled in September 2023. Action Description Completion of competitive international selection of members of Fund Investment Committee (IC) Source DLI# Responsibility Timing Timing Value Status Technical DLI 6 FONSIS Due Date 28-Apr-2023 Delayed (i) full documentation of competitive international selection of IC members (long list, short list, final selection); and (ii) Completion Measurement proof of strict independence of selected IC members from GoS and its agencies, Fund investors, and the Fund manager. Comments Given the delays incurred with the selection of the FM, this step is now tentatively scheduled in April 2023. Action Description ADEPME strengthens its monitoring and evaluation department by recruiting 4 additional qualified staff. Source DLI# Responsibility Timing Timing Value Status Technical DLI 2 ADEPME Due Date 31-Mar-2022 Completed Completion Measurement Work contract and CVs of recruited staff. Comments Action Description ADEPME strengthens its project appraisal unit by recruiting 4 additional and qualified staff. Source DLI# Responsibility Timing Timing Value Status Technical DLI 2 ADEPME Due Date 31-Dec-2021 Completed Completion Measurement Work contract and CVs of recruited staff. Comments 9/28/2022 Page 4 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Action Description ADEPME puts in place an online grievance and redress mechanisms (GRM) for the matching grant fund. Source DLI# Responsibility Timing Timing Value Status Technical DLI 2 ADEPME Due Date 30-Jun-2022 Delayed Completion Measurement The logs of the GRM. Comments Action Description ADEPME produces an annual monitoring and evaluation report of the matching grant fund and publishes it. Source DLI# Responsibility Timing Timing Value Status Technical DLI 2 ADEPME Recurrent Yearly Not Yet Due Completion Measurement EDPME monitoring and evaluation reports available on its website by June 30 of the following year. Comments Action Description FOGADEV and FOGAREX sub steering-committee (including banks and MFIs) is created Source DLI# Responsibility Timing Timing Value Status Technical DLI 4 FONGIP Due Date 31-Dec-2021 Completed Completion Measurement The signed order of the subcommittee is shared with the World Bank team. Comments Action Description FONGIP creates a new export credit guaranty product Source DLI# Responsibility Timing Timing Value Status Technical DLI 4.2 FONGIP Due Date 30-Dec-2022 Not Yet Due The brochure of the new export guaranty published on FONGIP website and the financial information related to the Completion Measurement fuds allocated to this product line. Comments Action Description FONGIP establishes and operationalizes a Monitoring and Evaluation Department Source DLI# Responsibility Timing Timing Value Status Technical DLI 4 FONGIP Due Date 30-Jun-2023 Not Yet Due FONGIP new organigramme and CVs of the staff of the monitoring and evaluation (M&E) department and the M&E Completion Measurement dashboard. 9/28/2022 Page 5 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Comments FONGIP establishes a periodic prudential and financial reporting to the board and the main stakeholders (banks, Action Description micro-finance institutions, ministry of finance, ministry of economy) Source DLI# Responsibility Timing Timing Value Status Technical DLI 4 FONGIP Due Date 30-Jun-2023 Not Yet Due Completion Measurement FONGIP communicates the periodic prudential and financial reporting and the list of recipients to the World Bank. Comments Update the Multi year expenditure planning document « Document Pluri-annuel de Programmation des Dépenses » Action Description to include the government Program « Acceleration Growth and Job Creation » Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems MEPC Due Date 31-Dec-2021 Completed The updated Multi year expenditure planning document "Document Pluri-annuel de Programmation des Dépenses" Completion Measurement will be communicated to the World Bank. Comments Action Description Open a special account at National Treasury for the program Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems National Treasury Due Date 30-Jun-2021 Completed Completion Measurement Proof of the opening of the dedicated account will be communicated to the World Bank. The Ministry of Finance and Budget is still in the process of opening the dedicated account and expects to have the Comments account open soon. Action Description Appoint dedicated accountants at treasury and create ID number for the program Source DLI# Responsibility Timing Timing Value Status Fiduciary Systems National Treasury Due Date 30-Jun-2021 Delayed Proof of the appointment of dedicated accountants at treasury and the creation of the ID number for the program will Completion Measurement be communicated to the Bank. Comments The process is in progress at the Ministry of Finance and Budget. Action Description Focal points appointed to support environmental and social risks and impact management 9/28/2022 Page 6 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Source DLI# Responsibility Timing Timing Value Status Environmental and Social FONGIP, FONSIS Due Date 30-Sep-2021 Delayed Systems Completion Measurement TORs and CVs shared with the World Bank team. Comments A Technical Manual for Environmental and Social Management is prepared and integrated in the Program operational Action Description manual, complies with both national environmental and social assessment procedures and the provisions of the WB policy on PforR Source DLI# Responsibility Timing Timing Value Status Environmental and Social MEPC Due Date 30-Sep-2021 Completed Systems Technical Manual included in the Operations Manual, to be shared with the World Bank team, and including the Completion Measurement obligation for implementing agencies to have in place an internal environmental and social risks and impacts management system. Comments Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate Moderate Macroeconomic Substantial Substantial Substantial Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Substantial Substantial Substantial Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Substantial Substantial Substantial Stakeholders Low Low Low Other -- Low Low Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes 9/28/2022 Page 7 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Improving Competitiveness IN01192171 ►Increase in the total annual export value of one value chain -in a geographical area-supported by the Competitiveness taskforce (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 Increase in the total annual export value of one value chain -in a geographical area-supported by the Comments Competitiveness taskforce Improving productivity and technology Adoption IN01192172 ►Increase in the aggregate Firm-level Technology Adoption Index (intensive margin) for firms benefitting from the matching grants (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 15.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 The TECH Index measures the MSMEs adoption of technology i.e. either better general business functions Comments of sectoral technologies. Details can be found in this academic publication https://cepr.org/active/publications/discussion_papers/dp.php?dpno=15427 IN01192175 of which for women-led businesses (Percentage, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 15.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 IN01192177 Of which for youth-led businesses (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 15.00 Improving access to finance IN01192173 ►Amount of banks’ and MFIs’ loans to MSMEs guaranteed by the FONGIP's FOGADEV and FOGAEX guarantee funds (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 50,000,000.00 50,000,000.00 52,700,000.00 150,000,000.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 Amount of banks’ and MFIs’ loans to MSMEs guaranteed by the FONGIP's FOGADEV and FOGAEX Comments guarantee funds in FCFA and UDS equivalent. IN01192176 Of which for women-led businesses (Amount(USD), Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target 9/28/2022 Page 8 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Value 2,500,000.00 2,500,000.00 2,626,000.00 32,500,000.00 IN01192178 Of which for exports (Amount(USD), Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10,000,000.00 IN01192179 ►Amount of private co-investments in investee-SMEs generated by the FONSIS SME acceleration fund (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30,000,000.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 Total amount of paid-up capital (in the form of equity and quasi-equity) invested by the Hybrid SME Comments Acceleration Fund (the part provided by the private Limited Partners only) and any other private investors complementing the Hybrid SME Acceleration Fund's investments in the targeted SMEs. IN01192180 Of which in women-led businesses (Amount(USD), Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 7,500,000.00 Improving Public-Private Partnerships IN01192174 ►Number of PPP transactions initiated (Requests for Proposals issued) for projects with low E&S risks (category 2 under the national risk categorization system) with support from the PPP Support Fund (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 3.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 RFP documents submitted along with evaluation documents to demonstrate consistency of the project Comments preparation with FAPPP requirements, including with respect to E&S assessment Intermediate Results Indicators by Results Areas Improving Competitiveness IN01192182 ►The Competitiveness Taskforce is established at the Ministry of Economy, Planning and Cooperation, with at least 8 members. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No Yes Yes Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 31-Dec-2021 Comments IN01192186 ►Number of value chains action plans produced by the Competitiveness Taskforce that use the PforR financing tools ADEPME matching grants or FONGIP guaranties and/or FONSIS investments (Number, Custom) 9/28/2022 Page 9 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 6.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2023 Comments IN01192189 ►Number of public-private dialogues conducted by the Directorate for Private Sector Development including to improve value chains competitiveness (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2023 Public-private dialogues are meetings between MEPC and private sector stakeholders in particular Comments sectors/value chains. They aim at collecting information and feedback from the private sector. Improving Productivity and Technology Adoption IN01192184 ►Amount of additional private investments in technology adoption generated by the matching grant fund (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,000,000.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 MSMEs monetary contribution to acquiring new technologies with the support of the Matching Grants, Comments starting at Program effectiveness. IN01192188 of which by women-led businesses (Amount(USD), Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 600,000.00 IN01192191 ►Number of MSMEs completing a technology project with the adoption of a specific technology (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,500.00 Date 18-Nov-2021 04-Mar-2022 22-Sep-2022 30-Jun-2025 Number of MSMEs completing a technology project with the adoption of a specific technology with the Comments support of the Matching Grants, since program effectiveness. IN01192192 Of which women-led businesses (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 750.00 IN01192193 of which are digital technologies (Number, Custom Supplement) 9/28/2022 Page 10 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1,000.00 Improving Access to Finance IN01192183 ►FONGIP's FOGADEV's NPL ratio every year (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 7.00 7.00 7.00 6.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 31-Dec-2024 Comments NPL: ration of non performing loans in the FOGADEV guarantee fund of FONGIP. IN01192187 ►Share of First-time MSMEs borrowers covered by the FOGADEV guarantee scheme (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 13.00 13.00 13.00 30.00 Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2025 Comments IN01192190 ►The FONSIS SME Acceleration Fund adopts a governance structure based on a general partner/ limited partner framework (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 30-Jun-2022 Comments Improving Public-Private Partnerships IN01192181 ►The PPP Unit is established and equipped with at least 3 qualified full-time staff (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 31-Dec-2021 Comments IN01192185 ►The PPP Support Fund is established and capitalized with a minimum of $ 1 million and its operational manual prepared (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No Yes Yes 9/28/2022 Page 11 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Date 07-Oct-2020 04-Mar-2022 22-Sep-2022 31-Dec-2021 Comments Disbursement Linked Indicators DLI_IND_TABLE ►DLI 1 Six (6) Action Plans relating to Selected Value Chains in Selected Areas, produced and communicated to the Association, from a baseline of zero (Output, 4,000,000.00, 0%) July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 0.00 0.00 0.00 6.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192195 DLI 1.1 The Competitiveness Taskforce has established selection criteria of positive environmental impact for the screening of value chains and has used them to select all Action Plans under DLR 1 (Process, 2,000,000.00, 0%) Unit of Measure: Yes/No Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value No No No Yes Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192196 DLI 1.2 Number of public-private dialogues conducted by MEPC’s directorate for private sector development including to improve value chains competitiveness, from a baseline of zero (Intermediate Outcome, 2,000,000.00, 0%) Unit of Measure: Number Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 0.00 0.00 0.00 20.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192197 DLI 1.3 Private sector development strategy produced to support the competitiveness of value chains with high potential for growth and job creation (Output, 1,000,000.00, 0%) Unit of Measure: Yes/No Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 9/28/2022 Page 12 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Value No No Yes Yes Date -- 04-Mar-2022 22-Sep-2022 -- Comments ►DLI 2 15% increase in aggregate TECH Adoption Index for beneficiaries, between July 1, 2021 and December 31, 2024, from a baseline of zero (Outcome, 5,000,000.00, 0%) July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 0.00 0.00 0.00 15.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments ►DLI 3 EUR 24,708,000 of support provided to MSMEs through Matching Grants, and registered in ADEPME’s database, from a baseline of EUR 7,668,000 (Intermediate Outcome, 15,000,000.00, 0%) July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 9,000,000.00 9,000,000.00 9,000,000.00 29,000,000.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192200 DLI 3.1 EUR 8,008,800 of Matching Grants to Women-Led MSMEs among those identified under DLR 3 and registered in ADEPME’s database, from a baseline of EUR 2,044,800 (Outcome, 4,000,000.00, 0%) Unit of Measure: Amount(USD) Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 2,400,000.00 2,400,000.00 2,400,000.00 9,400,000.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments ►DLI 4 EUR 127,800,000 bank and microfinance loans guaranteed by and registered in FONGIP’s database, from a baseline of EUR 42,600,000 (Outcome, 25,000,000.00, 0%) July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 50,000,000.00 50,000,000.00 52,700,000.00 150,000,000.00 Date -- 04-Mar-2022 22-Sep-2022 -- 9/28/2022 Page 13 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Comments IN01192202 DLI 4.1 EUR 27,690,000 loans guaranteed for Women-Led MSMEs among those identified under DLR 4 and registered in FONGIP’s database, from a baseline of EUR 2,130,000 (Outcome, 8,000,000.00, 0%) Unit of Measure: Amount(USD) Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 2,500,000.00 2,500,000.00 2,626,000.00 32,500,000.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192203 DLI 4.2 EUR 8,520,000 loans guaranteed for exports among those identified under DLR 4 and registered in FONGIP’s database, from a baseline of zero (Outcome, 4,000,000.00, 0%) Unit of Measure: Amount(USD) Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 0.00 0.00 0.00 10,000,000.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments ►DLI 5 Greater than 3 Average Leverage Ratio by December 31, 2024, from a baseline of 1.9 (Outcome, 4,000,000.00, 0%) July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 1.90 1.90 1.80 3.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192205 DLI 5.1 By 12/31/2022, FONGIP shall establish (i) an audit committee (ii) an audit department; and (iii) a risk management committee (vi) a risk management department, reporting to independent Board members (Intermediate Outcome, 8,000,000.00, 0%) Unit of Measure: Yes/No Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value No No Yes Yes Date -- 04-Mar-2022 22-Sep-2022 -- 9/28/2022 Page 14 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) Comments IN01192206 DLI 5.2 FONGIP has transferred its lending activities by December 31, 2024, and focuses on issuing guarantees (Output, 1,000,000.00, 0%) Unit of Measure: Yes/No Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value No No No Yes Date -- 04-Mar-2022 22-Sep-2022 -- Comments ►DLI 6 EUR 25,560,000 of private investments levied by Hybrid SME Acceleration Fund in a 51-49% private-public split respectively for each closing, from a baseline of zero EUR of private investment (Outcome, 25,000,000.00, 0%) July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 0.00 0.00 0.00 30,000,000.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192208 DLI 6.1 Share of Women-Led SMEs in the pipeline among those identified under DLR 6 is greater than 25% from the date of establishment of the Hybrid SME Acceleration Fund to July 1, 2024 (Intermediate Outcome, 4,000,000.00, 0%) Unit of Measure: Yes/No Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value No No No Yes Date -- 04-Mar-2022 22-Sep-2022 -- Comments ►DLI 7 Number of PPP transactions initiated (Requests for Proposals issued) for projects -with an E&S risks of category 2 under the national risk categorization system- with support from the PPP Fund (Output, 6,000,000.00, 0%) July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value 0.00 0.00 0.00 3.00 Date -- 04-Mar-2022 22-Sep-2022 -- Comments 9/28/2022 Page 15 of 16 The World Bank Implementation Status & Results Report Senegal Jobs, Economic Transformation & Recovery Program (P174757) IN01192210 DLI 7.1 Establishment of PPP Support Fund, with minimum capitalization of EUR 852,000 and PPP Support Fund operational manual prepared (Process, 3,000,000.00, 0%) Unit of Measure: Yes/No Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value No No Yes Yes Date -- 04-Mar-2022 22-Sep-2022 -- Comments IN01192211 DLI 7.2 An initial list of pipeline PPP projects is approved and published, selected from among identified investment priorities following the criteria and requirements of the PPP law and implementing decrees (Intermediate Outcome, 4,000,000.00, 0%) Unit of Measure: Yes/No Indicator Type: July 1, 2021 to June Baseline Actual (Previous) Actual (Current) 30, 2025 Value No No No Yes Date -- 04-Mar-2022 22-Sep-2022 -- Comments 9/28/2022 Page 16 of 16