The World Bank Implementation Status & Results Report
Ethiopia: SME Finance Project (P148447)
Ethiopia: SME Finance Project (P148447)
EASTERN AND SOUTHERN AFRICA | Ethiopia | Finance, Competitiveness and Innovation Global Practice |
IBRD/IDA | Investment Project Financing | FY 2016 | Seq No: 14 | ARCHIVED on 20-Jan-2023 | ISR54808 |
Implementing Agencies: Development Bank of Ethiopia, Federal Small and Medium Manufacturing Industry Promotion Authority, Ministry of Finance,
National Bank of Ethiopia
Key Dates
Key Project Dates
Bank Approval Date: 17-May-2016 Effectiveness Date: 01-Sep-2016
Planned Mid Term Review Date: 14-Nov-2019 Actual Mid-Term Review Date: 14-Nov-2019
Original Closing Date: 31-Aug-2022 Revised Closing Date: 31-Aug-2025
pdoTable
Project Development Objectives
Project Development Objective (from Project Appraisal Document)
The project development objective is to increase access to finance for Eligible Small and Medium Enterprises in the Recipient's territory.
Has the Project Development Objective been changed since Board Approval of the Project Objective?
Yes
Board Approved Revised Project Development Objective (If project is formally restructured)
The project development objective is to increase access to finance and build firm capabilities for eligible small and medium enterprises in Ethiopia,
with a focus on responding to the COVID-19 pandemic.
Components Table
Name
Financial Services to SMEs:(Cost $373.00 M)
Enabling Environment for SME Finance:(Cost $3.80 M)
Business Development Services to SMEs:(Cost $17.50 M)
Project Management, Communication and Impact Evaluation:(Cost $5.70 M)
Overall Ratings
Name Previous Rating Current Rating
Progress towards achievement of PDO Satisfactory Satisfactory
Overall Implementation Progress (IP) Satisfactory Satisfactory
Overall Risk Rating Moderate Moderate
Implementation Status and Key Decisions
Implementation progress: The overall implementation progress of the project is rated 'Satisfactory' as the project has met and exceeded
the targets for most of the result indicators.
Disbursement: Over the last six months, the project disbursed US$ 57 million (41 million from IDA source and €15 million from EIB's co-financing),
pushing the cumulative disbursement of the project to US$ 348 million.
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The World Bank Implementation Status & Results Report
Ethiopia: SME Finance Project (P148447)
Business Development Service: Powered by a network of 21 polytechnic colleges, six industry development institutes and four training centers,
the project delivered tailored business development service to 1428 SMEs. In addition, the project financed DBE to train 13,365 SMEs on soft skill
training, particularly business plan preparation.
Risks
Systematic Operations Risk-rating Tool
Risk Category Rating at Approval Previous Rating Current Rating
Political and Governance Moderate Substantial Substantial
Macroeconomic Moderate Moderate Moderate
Sector Strategies and Policies Low Moderate Moderate
Technical Design of Project or Program Substantial Moderate Moderate
Institutional Capacity for Implementation and
Moderate Moderate Moderate
Sustainability
Fiduciary Substantial Moderate Moderate
Environment and Social Moderate Moderate Moderate
Stakeholders Moderate Moderate Moderate
Other -- Substantial Substantial
Overall Substantial Moderate Moderate
Results
PDO Indicators by Objectives / Outcomes
To increase access to finance for eligible SME in Ethiopia.
IN01244746
►Volume of financial support to SMEs under the credit facility and DRF (Amount(USD), Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 218,000,000.00 278,000,000.00 348,000,000.00 548,000,000.00
Date 28-Dec-2020 30-Jun-2022 30-Dec-2022 31-Aug-2025
IN01244747
►Number of SMEs reached with financial services under the credit facility and DRF. (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 1,452.00 3,368.00 4,265.00 4,200.00
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The World Bank Implementation Status & Results Report
Ethiopia: SME Finance Project (P148447)
Date 28-Dec-2020 30-Jun-2022 30-Jun-2022 31-Aug-2025
IN01244748
►Portfolio quality under the credit facility (Percentage, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 6.00 12.00 2.80 5.00
Date 28-Dec-2020 30-Jun-2022 30-Dec-2022 31-Aug-2025
IN01244749
►Number of SMEs served with business development service (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 218.00 5,303.00 1,428.00 1,500.00
Date 28-Dec-2020 30-Jun-2022 30-Dec-2022 30-Jun-2025
The number of BDS beneficiaries is revised down as it is agreed to report SMEs trained by DBE
Comments: separately.
Intermediate Results Indicators by Components
Financial Services to SMEs
IN01244750
►Number of loans/ leases disbursed to SMEs under the credit facility (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 1,853.00 3,368.00 4,265.00 4,000.00
Date 28-Dec-2020 30-Jun-2022 30-Dec-2022 31-Aug-2025
IN01244753
►Collateral registry operationalized. (Yes/No, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value No Yes Yes Yes
Date 17-Aug-2016 30-Jun-2022 30-Dec-2022 31-Aug-2025
IN01244756
►Strengthened capacity of DBE for risk assessment and management of innovative financial products. (Yes/No) (Yes/No, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value No No No Yes
Date 28-Dec-2020 30-Jun-2022 30-Jun-2022 31-Aug-2025
IN01244758
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The World Bank Implementation Status & Results Report
Ethiopia: SME Finance Project (P148447)
►Percentage of women-owned SMEs benefiting from the credit line and DRF (Percentage, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 14.00 14.00 14.00 28.00
Date 28-Dec-2020 28-Dec-2020 28-Dec-2020 31-Aug-2025
Enabling Environment for SME Finance
IN01244751
►Insolvency regime revised and approved by the Parliament (Yes/No, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value No Yes Yes Yes
Date 17-Aug-2016 30-Jun-2022 30-Dec-2022 31-Aug-2025
IN01244754
►Citizen engagement survey conducted (Yes/No, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value No No No Yes
Date 20-Apr-2016 30-Jun-2022 30-Jun-2022 31-Aug-2025
Business Development Services for SMEs
IN01244752
►Number of SMEs that received training through a BDS Program under the project (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 218.00 3,368.00 1,428.00 1,500.00
Date 28-Dec-2020 30-Jun-2022 30-Dec-2022 31-Aug-2025
IN01244755
►Number of women owned SMEs that received business development service (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 70.00 70.00 70.00 500.00
Date 05-Feb-2021 05-Feb-2021 05-Feb-2021 31-Aug-2025
IN01244757
►Number of supported SMEs that subscribed to the e-commerce platform (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 0.00 0.00 100.00
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The World Bank Implementation Status & Results Report
Ethiopia: SME Finance Project (P148447)
Date 05-Feb-2021 14-Jan-2022 14-Jan-2022 31-Aug-2025
IN01244759
►Business Information Center launched (Yes/No, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value No No No Yes
Date 05-Feb-2021 30-Jun-2022 30-Jun-2022 30-Jun-2025
IN01244760
►Number of federal and regional investment and trade support institution staff trained on export promotion, business diplomacy and related
topics (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 0.00 0.00 50.00
Date 05-Feb-2021 14-Jan-2022 14-Jan-2022 31-Aug-2025
IN01244761
►Private participation model for management and operation of SME market and production sites developed (Yes/No, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value No No No Yes
Date 05-Feb-2021 14-Jan-2022 14-Jan-2022 31-Aug-2025
Performance-Based Conditions
Data on Financial Performance
Disbursements (by loan)
Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed
P148447 IDA-57930 Closed USD 200.00 200.00 0.00 203.00 0.01 100%
P148447 IDA-68640 Effective USD 200.00 200.00 0.00 72.79 107.00 40%
Key Dates (by loan)
Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date
P148447 IDA-57930 Closed 17-May-2016 15-Jun-2016 01-Sep-2016 31-Aug-2022 31-Aug-2022
P148447 IDA-68640 Effective 02-Apr-2021 23-Apr-2021 22-Jul-2021 31-Aug-2025 31-Aug-2025
Cumulative Disbursements
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The World Bank Implementation Status & Results Report
Ethiopia: SME Finance Project (P148447)
Restructuring History
Level 2 Approved on 20-Sep-2017
Related Project(s)
P175045-Ethiopia Small and Medium Enterprises Finance Project - Additional Finance
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