Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Guinea - MSME Development Project (P128443) AFRICA | Guinea | Trade & Competitiveness Global Practice | IBRD/IDA | Specific Investment Loan | FY 2013 | Seq No: 6 | ARCHIVED on 29-Apr-2016 | ISR22572 | Implementing Agencies: Key Dates Key Project Dates Bank Approval Date:28-Jun-2013 Effectiveness Date:06-Dec-2013 Planned Mid Term Review Date:18-Jul-2016 Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2017 Revised Closing Date:31-Dec-2017 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective (PDO) is to support the development of MSMEs in various value chains and to improve selected processes of Guinea's investment climate Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component 1. Establishment of Support Centers for SME development (US$ 4.2 million):(Cost $4.00 M) Component 2: Support to Investment:(Cost $4.63 M) Component 3: Project Implementation and M&E:(Cost $1.37 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Unsatisfactory  Moderately Satisfactory Overall Implementation Progress (IP)  Moderately Unsatisfactory  Moderately Satisfactory Overall Risk Rating  Substantial  Substantial 4/29/2016 Page 1 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Implementation Status and Key Decisions Following the recent formalization of project restructuring, implementation progress has accelerated. In particular: Component 1: Training activities for SMEs has begun, targeting over 160 women entrepreneurs in Conakry. Further mobilization of training and capacity building will be launched shortly, including in the interior of the country (city of Mamou) Component 2: 1. The project consolidated significant progress with regard to strengthening structure and activities of the Investment Promotion Agency (Agence de Promotion des Investissements Privés, APIP). The One stop shop for business formalities has registered 7,911 firms since project inception. Over the same time, APIP registered 106 investor inquiries and promotion activities (70 related to Investment Code incentives), and directly generated 9 investments above US$200K). 2. The number of reforms (to date corresponding to a total of 16) facilitated by the Public Private Dialogue (PPD) already exceeds the end-project target. The project is also playing an important role in supporting the PPD Platform and the effective launch of the Guinea Business Forum. 3. The support to the BCRG has led to the modernization of the National Payment System (RTGS was officially launched on March 2016) while the prerequisites for the establishment of Credit Information Systems were provided by the project. 4/29/2016 Page 2 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) 4/29/2016 Page 3 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Substantial  Substantial Macroeconomic  --  Substantial  Substantial Sector Strategies and Policies  --  Moderate  Moderate Technical Design of Project or Program  --  Moderate  Moderate Institutional Capacity for Implementation and Sustainability  --  Substantial  Substantial Fiduciary  --  Moderate  Moderate Environment and Social  --  High  High Stakeholders  --  Moderate  Moderate Other  --  --  -- Overall  --  Substantial  Substantial Results Project Development Objective Indicators PHINDPDOTBL  Increase in sales of MSMEs supported by the SCs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 Date 10-Jun-2014 20-Oct-2015 11-Apr-2016 -- Comments Activities related to MSME capacity building were launched in March 2016 in Conakry and will be extended to the interior of the country (Mamou). PHINDPDOTBL  Number of investments generated above $200,000 (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 9.00 10.00 4/29/2016 Page 4 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Date 31-Dec-2013 20-Oct-2015 11-Apr-2016 -- Comments This indicator reflects investment directly resulting from APIP's direct investment generation activities. It would rise to 70 considering the investment incentives approved by APIP under the Investment Code. PHINDPDOTBL  Percentage of loans awarded to firms included in the Credit reporting System in a given year as a percent of all lending in the same year (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 15.00 Date 31-Dec-2013 20-Oct-2015 11-Apr-2016 -- Comments This indicator will be reviewed following the launch of the SIC, expected by end-2016. PHINDPDOTBL  Value of yearly transactions settled in Real Time Gross Settlement system / Annual GDP (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 150.00 Date 31-Dec-2013 20-Oct-2015 11-Apr-2016 -- Comments This indicator will be tracked over this year, since the RTGS at the Central Bank is operational since March 2016. Overall Comments Intermediate Results Indicators 4/29/2016 Page 5 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) PHINDIRITBL  Number of firms benefitting from SCs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 60.00 200.00 Date 30-Jun-2015 21-Oct-2015 11-Apr-2016 -- Comments Formal SME capacity building was launched in Conakry as of March 2016, and is being extended in Mamou during the course of the year. PHINDIRITBL  Percent of women owned or run businesses as a share of benefitting firms from SC support (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 100.00 40.00 PHINDIRITBL  Number of investor inquiries in APIP’s investment promotion (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 32.00 106.00 60.00 Date 31-Dec-2013 20-Oct-2015 11-Apr-2016 -- PHINDIRITBL  Number of measures/recommendations proposed by PPD process endorsed for implementation (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 16.00 8.00 Date 31-Dec-2013 20-Oct-2015 11-Apr-2016 -- 4/29/2016 Page 6 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) PHINDIRITBL  Businesses registered and included in the Credit Reporting System (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 150.00 Date 31-Dec-2013 21-Oct-2015 11-Apr-2016 -- Comments This indicator is expected be met by end 2016, with the launch of the SIC. PHINDIRITBL  Proportion (%) of banks with access to ACH (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 100.00 100.00 Date 31-Dec-2013 21-Oct-2015 11-Apr-2016 -- PHINDIRITBL  Number of Firms that benefit from reformed registration requirements (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 7911.00 300.00 Date -- -- 11-Apr-2016 -- PHINDIRITBL  Number of SMEs that benefit from new or enhanced linkages with large firms (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value -- -- 0.00 30.00 Date -- -- 11-Apr-2016 -- Comments This is a new intermediate indicator, introduced following the recent Level II restructuring. Activities related to linkages are just being launched. 4/29/2016 Page 7 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P128443 IDA-H8670 Effective XDR 6.70 6.70 0.00 2.18 4.52 32% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P128443 IDA-H8670 Effective 28-Jun-2013 20-Aug-2013 06-Dec-2013 31-Dec-2017 31-Dec-2017 Cumulative Disbursements Restructuring History Level 2 Approved on 02-Feb-2016 4/29/2016 Page 8 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Related Project(s) There are no related projects. 4/29/2016 Page 9 of 9 Public Disclosure Copy