Public Disclosure Copy The World Bank Implementation Status & Results Report Belarus MSME Access to Finance Project (P152276) Belarus MSME Access to Finance Project (P152276) EUROPE AND CENTRAL ASIA | Belarus | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2018 | Seq No: 2 | ARCHIVED on 12-Jul-2018 | ISR33362 | Implementing Agencies: Development Bank of the Republic of Belarus, Ministry of Finance, Development Bank of the Republic of Belarus Key Dates Key Project Dates Bank Approval Date:28-Sep-2017 Effectiveness Date:19-Apr-2018 Planned Mid Term Review Date:25-Mar-2019 Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2022 Revised Closing Date:31-Dec-2022 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective (PDO) is to improve access to finance for private MSMEs and enhance governance and the institutional capacity of the Development Bank of the Republic of Belarus. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component I: Line of Credit to MSMEs:(Cost $56.20 M) Component II: Institutional Strengthening of DBRB:(Cost $3.25 M) Component III: Project Management and Implementation:(Cost $0.55 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Substantial  Substantial Implementation Status and Key Decisions 7/12/2018 Page 1 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Belarus MSME Access to Finance Project (P152276) The project is effective and ready for disbursement to sub-borrowers. 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  Moderate  Moderate  Moderate Institutional Capacity for Implementation and Sustainability  Substantial  Substantial  Substantial Fiduciary  Substantial  Substantial  Substantial Environment and Social  Moderate  Moderate  Moderate Stakeholders  Moderate  Moderate  Moderate Other  --  --  -- Overall  Substantial  Substantial  Substantial Results Project Development Objective Indicators PHINDPDOTBL  Growth of DBRB MSME loan portfolio provided through participating financial institutions (PFIs) (percent) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 170.00 Date 30-Sep-2017 22-Dec-2017 13-Jul-2018 31-Dec-2022 PHINDPDOTBL  Number of MSME beneficiaries that obtained credit under the project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 150.00 Date 30-Sep-2017 -- 13-Jul-2018 31-Dec-2022 7/12/2018 Page 2 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Belarus MSME Access to Finance Project (P152276) PHINDPDOTBL  Governance and business model of DBRB strengthened (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Too early to measure. Value No -- Yes Date 30-Sep-2017 22-Dec-2017 13-Jul-2018 31-Dec-2022 Overall Comments Intermediate Results Indicators PHINDIRITBL  Volume of loans disbursed under the project (US$, millions) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 56.20 Date 30-Sep-2017 22-Dec-2017 13-Jul-2018 31-Dec-2022 PHINDIRITBL  Number of active PFIs under the project (cumulative) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 3.00 Date 30-Sep-2017 22-Dec-2017 13-Jul-2018 31-Dec-2022 7/12/2018 Page 3 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Belarus MSME Access to Finance Project (P152276) PHINDIRITBL  Portfolio Quality: Portfolio at risk (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Too early to measure. Value 13.30 -- n/a Date 30-Sep-2017 22-Dec-2017 13-Jul-2018 31-Dec-2022 PHINDIRITBL  Financial Sustainability: Return on Assets (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Initial ISR. Too early to Value 3.20 -- measure. n/a Date 30-Sep-2017 22-Dec-2017 12-Jul-2018 31-Dec-2022 PHINDIRITBL  Financial Sustainability: Return on Equity (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Initial ISR. Too early to Value 14.40 -- measure. n/a Date 30-Sep-2017 -- 22-Dec-2017 31-Dec-2022 PHINDIRITBL  Compliance with prudential regulation (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Initial ISR. Too early to Value Yes -- measure. Yes Date 30-Sep-2017 -- 22-Dec-2017 31-Dec-2022 7/12/2018 Page 4 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Belarus MSME Access to Finance Project (P152276) PHINDIRITBL  Gender: share of businesses beneficiaries that obtained credit under the project with at least 15 percent female workforce participation (percent) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Initial ISR. Too early to Value 0.00 -- measure. n/a Date 30-Sep-2017 22-Dec-2017 22-Dec-2017 31-Dec-2022 PHINDIRITBL  Citizen Engagement: MSMEs that report that project sub-finance reflected their needs (Percentage) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Initial ISR. Too early to Value 0.00 -- measure. >90 Date 30-Sep-2017 -- 22-Dec-2017 31-Dec-2022 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P152276 IBRD-86960 Effective USD 60.00 60.00 0.00 0.00 60.00 0% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P152276 IBRD-86960 Effective 28-Sep-2017 12-Oct-2017 19-Apr-2018 31-Dec-2022 31-Dec-2022 Cumulative Disbursements 7/12/2018 Page 5 of 6 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Belarus MSME Access to Finance Project (P152276) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 7/12/2018 Page 6 of 6 Public Disclosure Copy