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: 7 | ARCHIVED on 31-Oct-2016 | ISR25463 | Implementing Agencies: Ministry of Industri -- PIU PAPME 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:18-Jul-2016 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 Satisfactory  Moderately Satisfactory Overall Implementation Progress (IP)  Moderately Satisfactory  Moderately Satisfactory Overall Risk Rating  Substantial  Substantial 10/31/2016 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 formalization of project restructuring in February 2016, implementation progress and visibility has accelerated.. In particular: Component 1: 1. Training activities for SMEs has begun, targeting over 160 women entrepreneurs in Conakry. Further mobilization of training and capacity building is underway, including in the interior of the country (city of Mamou). The SME center for Conakry has been identified and will be mobilized along with follow up training activities, in November 2016. 2. In addition, the project mobilized capacity building directed to the Ministry of Industry and SMEs -- including the launch of select strategic analysis and studies. Component 2: 3. 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 over 11,660 firms since project inception. Over the same time, APIP registered 139 investor inquiries and promotion activities (95 related to Investment Code incentives), and directly generated 11 investments above US$200K for a total of US$ 290 million commitments). 4. The number of investment climate reforms (to date corresponding to a total of 28) supported by the project and 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. 5. 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 (SIC) were provided by the project. Procurement for the SIC is at advanced stage and should be delivered by end 2016. 10/31/2016 Page 2 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) 10/31/2016 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 11-Apr-2016 21-Oct-2016 31-Dec-2017 PHINDPDOTBL  Number of investments generated above $200,000 (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 9.00 11.00 10.00 10/31/2016 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 11-Apr-2016 21-Oct-2016 31-Dec-2017 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 11-Apr-2016 21-Oct-2016 31-Dec-2017 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 25.00 150.00 Date 31-Dec-2013 11-Apr-2016 21-Oct-2016 31-Dec-2017 Overall Comments PDO-level indicators are progressing as follows: --the target of Investments generated above $ 200K has been surpassed (11, for a total of $290million commitments -of which 48m have already been realized). --RTGS was launched in March 2016. Transaction values are estimated at 25% / GDP between March-July 2016 --the procurement of the credit information system is advanced, and its mobilization is expected by end 2016. On this basis, the PDO indicator will be monitored. --training to firms is ongoing; an assessment will be carried out by project end as to the impact achieved in terms of increase in sales. Intermediate Results Indicators 10/31/2016 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 60.00 60.00 200.00 Date 30-Jun-2015 11-Apr-2016 11-Apr-2016 31-Dec-2017 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 0.00 100.00 100.00 40.00 PHINDIRITBL  Number of investor inquiries in APIP’s investment promotion (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 106.00 139.00 60.00 Date 31-Dec-2013 11-Apr-2016 21-Oct-2016 31-Dec-2017 PHINDIRITBL  Number of measures/recommendations proposed by PPD process endorsed for implementation (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 16.00 28.00 8.00 Date 31-Dec-2013 11-Apr-2016 21-Oct-2016 31-Dec-2017 10/31/2016 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 11-Apr-2016 11-Apr-2016 31-Dec-2017 PHINDIRITBL  Proportion (%) of banks with access to ACH (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 100.00 Date 31-Dec-2013 11-Apr-2016 11-Apr-2016 31-Dec-2017 PHINDIRITBL  Number of Firms that benefit from reformed registration requirements (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 7911.00 11663.00 300.00 Date 01-Jan-2014 11-Apr-2016 21-Oct-2016 31-Dec-2017 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 0.00 0.00 30.00 Date 02-Feb-2016 11-Apr-2016 21-Oct-2016 31-Dec-2017 Overall Comments Data on Financial Performance 10/31/2016 Page 7 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) 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 2.76 3.94 41% 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 Related Project(s) There are no related projects. 10/31/2016 Page 8 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Guinea - MSME Development Project (P128443) 10/31/2016 Page 9 of 9 Public Disclosure Copy