The World Bank Report No: ISR13985 Implementation Status & Results Jordan MSME Development Project for Inclusive Growth (P132314) Public Disclosure Copy Operation Name: MSME Development Project for Inclusive Growth (P132314) Project Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 06-Apr-2014 Country: Jordan Approval FY: 2013 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Financial Intermediary Loan Implementing Agency(ies): Central Bank of Jordan Key Dates Board Approval Date 05-Mar-2013 Original Closing Date 31-Dec-2015 Planned Mid Term Review Date Last Archived ISR Date 14-Sep-2013 Effectiveness Date 09-Jun-2013 Revised Closing Date 31-Dec-2015 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to contribute to the improvement of access to finance for micro, small and medium enterprises in the Hashemite Kingdom of Jordan. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Line of Credit to MSMEs 70.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Moderate Moderate Public Disclosure Copy Overall Risk Rating Implementation Status Overview Significant progress was made in project implementation as evident in the fast disbursement, which has been ahead of projection. The project was approved by the Board on March 5, 2013, the Legal Agreement was signed on March 12, 2013, and it became effective on June 9, 2013. The project has disbursed US$ 48 million, accounting for 68 percent of the total loan amount, compared with a planned disbursement rate of 34 percent only. The entire amount transferred to CBJ, as of September 30, 2013 has already been disbursed to participating financial intermediaries (PFIs). More importantly is that in this short period of time, 33percent of this amount (US$ 4.87 million) has been committed or already on-lent to the end beneficiaries (MSME), with effective targeting of women and youth. Moreover, it is worth noting that to date, 32.8 percent of the loan (US$ 15.66 million) is already committed in existing contracts with MSMEs. Locations Page 1 of 4 The World Bank Report No: ISR13985 No Location data has been entered Results Public Disclosure Copy Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Direct project beneficiaries Number Value 0.00 450.00 2000.00 Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments MSMEs Beneficiaries Female beneficiaries Percentage Value 0.00 5.00 35.00 Sub Type Supplemental Overall MSME portfolio of partcipating banks Percentage Value 0.00 5.00 20.00 Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments Portfolio at Risk - SME Percentage Value 6.00 7.00 4.00 Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments Percentage of project-supported institutions Percentage Value 1.00 1.00 1.00 that are reporting on this indicator Sub Type Supplemental Number of jobs created by MSMEs Project Number Value 0.00 1000.00 4000.00 Beneficiaries Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Public Disclosure Copy Person Days of Employment Created Days Value 0.00 120000.00 480000.00 Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments Volume of Lending to MSMEs under the Lines Amount(USD) Value 0.00 34.00 70.00 of Credit Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments Number of banks engaged in MSME lending Number Value 0.00 11.00 5.00 Page 2 of 4 The World Bank Report No: ISR13985 Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments Number of term loans to MSMEs Number Value 0.00 334.00 1000.00 Public Disclosure Copy Date 20-Dec-2012 25-Mar-2014 31-Dec-2015 Comments Data on Financial Performance (as of 30-Jan-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P132314 IBRD-82320 Effective 05-Mar-2013 12-Mar-2013 09-Jun-2013 31-Dec-2015 31-Dec-2015 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P132314 IBRD-82320 Effective USD 70.00 70.00 0.00 61.53 8.47 88.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation Document can be disclosed Page 3 of 4 The World Bank Report No: ISR13985 Restructuring History There has been no restructuring to date. Public Disclosure Copy Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4