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: 5 | ARCHIVED on 28-Oct-2015 | ISR20686 | Implementing Agencies: Key Dates Key Project Dates Board Approval date:28-Jun-2013 Effectiveness Date:06-Dec-2013 Planned Mid Term Review Date:11-Jan-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 $4.20 M) Component 2: Support to Investment:(Cost $4.60 M) Component 3: Project Implementation and M&E:(Cost $1.20 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Unsatisfactory  Moderately Unsatisfactory Overall Implementation Progress (IP)  Moderately Unsatisfactory  Moderately Unsatisfactory Overall Risk Rating  Substantial  Substantial 10/28/2015 Page 1 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Implementation Status and Key Decisions This is the fifth ISR for the Guinea MSME Development Project that was approved by the Board on June 28, 2013 in the amount of $10 million. The Financing Agreement was signed on August 20, 2013. Project effectiveness was reached on December 6, 2013. The Government - especially the new Minister of Industry - and private sector actors are engaged in project intervention. Significant progress was noted in strengthening APIP’s capacity in the area of investment promotion and project management (e.g. with regard to the One-Stop Shop) with the recruitment of several consultants (component 2.1), and enhanced dynamism of the institution. Similarly, prerequisites for the establishment of Credit Information and Payment Systems were completed by the Central Bank of the Republic of Guinea (sub-Component 2.2). Moreover, an advisory consulting firm conducted the feasibility studies for the SMES support centers (Component 1) while a location for the two SME Business Centers has been provided by the local authorities. The Government also provided a location for the PPD (Public Private Dialogue) secretariat. However, overall implementation progress continues to be slow. The government and the mission agreed to restructure the project, accelerate activities and optimize the impact on the ground with strong ownership of project governance bodies. 10/28/2015 Page 2 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) 10/28/2015 Page 3 of 8 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  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 23-Jul-2014 20-Oct-2015 -- Comments This indicator does not yet show progress, since the underlying project activities are at mobilization stage. Training expect to start by end- 2015. 10/28/2015 Page 4 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) PHINDPDOTBL  Investor inquiries (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 3.00 15.00 Date 31-Dec-2013 23-Jul-2014 20-Oct-2015 -- Comments Three inquiries have led to the materialization investments of at least USD350K in 2015. PHINDPDOTBL  Value of loans to firms and individuals included in CRS (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 15.00 Date 31-Dec-2013 23-Jul-2014 20-Oct-2015 -- PHINDPDOTBL  Value of yearly transactions settled in RTGS / Annual GDP (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 150.00 Date 31-Dec-2013 23-Jul-2014 20-Oct-2015 -- Overall Comments Intermediate Results Indicators 10/28/2015 Page 5 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) PHINDIRITBL  Number of entrepreneurs supported by the SCs (of which percentage female) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 400.00 Date 30-Jun-2015 23-Jul-2014 21-Oct-2015 -- Comments The contract for the expected training of entrepreneurs has been awarded. This indicator is expected to progress during the next 3 months (December 2015). PHINDIRITBL  Pct of female of entrepreneurs supported by the SCs (of which percentage female) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 50.00 PHINDIRITBL  Number of investor inquiries in APIP’s investment promotion (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 20.00 32.00 60.00 Date 31-Dec-2013 23-Jul-2014 20-Oct-2015 -- Comments Investor inquiries reached a cumulative of 32 (an increase of 10 from the 22 of 2014). The end-project target is 60. PHINDIRITBL  Number of reforms adopted through the PPD platform (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1.00 6.00 4.00 Date 31-Dec-2013 21-Jul-2014 20-Oct-2015 -- Comments The PPD platform facilitated 6 reforms, surpassing the end-project target. 10/28/2015 Page 6 of 8 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 23-Jul-2014 21-Oct-2015 -- PHINDIRITBL  Proportion (%) of banks with access to ACH (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 100.00 Date 31-Dec-2013 23-Jul-2014 21-Oct-2015 -- 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 1.72 4.98 26% 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 10/28/2015 Page 7 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 10/28/2015 Page 8 of 8 Public Disclosure Copy