Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) LATIN AMERICA AND CARIBBEAN | Colombia | Education Global Practice | IBRD/IDA | Investment Project Financing | FY 2014 | Seq No: 5 | ARCHIVED on 20-Dec-2016 | ISR25958 | Implementing Agencies: Instituto Colombiano de Crédito Educativo y Estudios Técnicos en El Exterior (ICETEX) Key Dates Key Project Dates Bank Approval Date:01-Apr-2014 Effectiveness Date:28-Jan-2015 Planned Mid Term Review Date:28-Feb-2017 Actual Mid-Term Review Date:-- Original Closing Date:30-Jun-2019 Revised Closing Date:30-Jun-2019 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to increase student enrollment, graduation and equity in higher education, by: (a) increasing the number of ACCES Student Loans and the ACCES Program’s focus on students from disadvantaged socioeconomic backgrounds and in quality higher education institutions and programs; and (b) enhancing ICETEX’s institutional capacity. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component 1: Student Loans:(Cost $424.00 M) Component 2: Institutional Strengthening:(Cost $12.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Low  Low Implementation Status and Key Decisions 12/20/2016 Page 1 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) The implementation of the project continues to be satisfactory and disburse as planned, despite a complex environment. The current macroeconomic environment, with high inflation, presents a challenge for the project. The interest rate for student loans is linked to the inflation rate. The recent increase in inflation over the past two years has increased the cost of student loans for students. Even students with interest rate subsidies see their interest rates increase (they pay zero percent real interest rate). This has two immediate effects: (i) it reduces the demand for loans (especially among the most disadvantaged students) and (ii) it increases the share of non-performing loans. There are indications that both of these effects are materializing, but the impact is so far well managed by ICETEX. The project progresses satisfactorily in terms of improving access to tertiary education, and this is evident in the indicators related to access. However, there are some concerning trends in the access to loans for very disadvantaged populations (Indigenous Peoples, Afro-Colombians, Roma and Victims of the Conflict) and students from zonas apartadas. Both indicators have declined since the last ISR. ICETEX is implementing plans to correct these trends, but the strategies have not yet shown results. This calls for a more intensive effort to promote access to loans among those populations, and a plan will be agreed during the next mission, which will be carried out in mid-December 2016. 12/20/2016 Page 2 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) 12/20/2016 Page 3 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) 12/20/2016 Page 4 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Low  Low Macroeconomic  --  Substantial  Substantial Sector Strategies and Policies  --  Low  Low Technical Design of Project or Program  --  Low  Low Institutional Capacity for Implementation and Sustainability  --  Low  Low Fiduciary  --  Low  Low Environment and Social  --  Low  Low Stakeholders  --  Moderate  Moderate Other  --  --  -- Overall  --  Low  Low Results Project Development Objective Indicators PHINDPDOTBL  Increase student enrollment in higher education- 1. Enrollment in higher education. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.84 2.26 2.33 2.32 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDPDOTBL  Increase graduation in higher education- 2. Graduation in higher education. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 241,000.00 290,000.00 304,088.00 406,000.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 12/20/2016 Page 5 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) PHINDPDOTBL  Increase equity in higher education- 3. Percentage of new students enrolled in higher education from families earning less than 2 minimum salaries. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 58.10 60.22 60.52 64.30 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDPDOTBL  Increase equity in higher education- 4. Percentage of graduates from families earning less than 2 minimum salaries. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 49.40 30.25 30.36 59.00 Date 31-Dec-2012 30-Sep-2015 30-Sep-2016 30-Jun-2019 Overall Comments Intermediate Results Indicators PHINDIRITBL  1. Number of new students obtaining an ACCES student Loan. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 40,000.00 37,019.00 32,760.00 44,000.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 12/20/2016 Page 6 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) PHINDIRITBL  2. Number of ACCES student loan renewals. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 158,000.00 205,394.00 204,274.00 218,000.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL 3. Percentage of new ACCES student loans given to students who qualify for a government subsistence grant. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 29.00 31.30 33.00 35.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  4. Percentage of new ACCES student loans given to students who qualify for a government subsistence grant and score below the SISBEN cutoff points. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 22.00 24.10 28.50 28.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  5. Percentage of new ACCES student loans given to indigenous peoples, afro-Colombians, Roma and victims of violence. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 9.00 13.10 8.20 11.50 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 12/20/2016 Page 7 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) PHINDIRITBL  6. Percentage of new ACCES student loans given to students enrolled in accredited higher education institutions or programs. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 28.00 39.60 40.30 40.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  7. Geographic distribution of ACCES loans to new students in zonas apartadas. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 4.00 6.20 3.80 6.50 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  8. Subcomponent 2.1--Annual administrative cost of ICETEX. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 3.10 2.01 2.07 3.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  9. Subcomponent 2.1--Information systems upgraded. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target C&CTEX, C&CTEX, APOTEOSYS APOTEOSYS and Implementation and CRM in use and Implementation of the IT Value CRM updated and in of the IT networked to personal Strategy use and networked to strategy computers. personal computers. Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 12/20/2016 Page 8 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) PHINDIRITBL  10. Sucomponent 2.1--Percentage of nonperforming loans (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 36.00 26.00 32.10 19.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  11. Subcomponent 2.2--Number of HEI Support Offices monitored by ICETEX through on-site visits. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 90.00 91.00 70.00 90.00 Date 30-Dec-2014 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  12. Subcomponent 2.2--Percentage of HEIs that perform above the benchmark on at least 5 of the 6 indicators in the scorecards. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 54.00 59.60 59.20 64.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  13. Subcomponent 2.2--Sustainability index - Student loan attrition (non-renewal) and associated default rate among ACCES recipients. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 6.60 4.40 4.40 6.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 12/20/2016 Page 9 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) PHINDIRITBL  14 a) Subcomponent 2.3--Total sum of resources available for student credit generated from external sources (Funds under Administration). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 84.00 410.60 281.80 176.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  14 b) Subcomponent 2.3 --Total sum of resources available for student credit generated from external sources (ICETEX budget). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 96.00 91.10 41.90 88.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  15 a) Subcomponent 2.3--Number of new student loans given to indigenous peoples through ICETEX’s Vice-presidency for Administered Funds (VFA). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1,700.00 1,125.00 1,500.00 1,000.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  15 b) Subcomponent 2.3--Number of new student loans given to Afro-Colombians through ICETEX’s Vice-presidency for Administered Funds (VFA). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 2,300.00 2,166.00 2,166.00 1,500.00 Date 31-Dec-2012 31-Dec-2015 31-Dec-2015 30-Jun-2019 12/20/2016 Page 10 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) PHINDIRITBL  16. Subcomponent 2.4--Impact evaluations (IEs) of ICETEX student loan programs have been designed and completed. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 2009 IE published in 2010 2013 IE was completed 2013 IE was completed 2nd IE Value and 2013 IE underway to and published and published completed be published in 2014 Date 31-Dec-2012 30-Sep-2015 30-Sep-2015 30-Jun-2019 PHINDIRITBL  Direct project beneficiaries (Number, Core) Baseline Actual (Previous) Actual (Current) End Target Value 198,000.00 266,216.00 299,754.00 262,000.00 Date 31-Dec-2012 31-Dec-2015 30-Sep-2016 30-Jun-2019 PHINDIRITBL  Female beneficiaries (Percentage, Core Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 57.00 58.00 57.00 54.00 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P145782 IBRD-83540 Effective USD 200.00 200.00 0.00 120.90 79.10 60% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P145782 IBRD-83540 Effective 01-Apr-2014 22-Dec-2014 28-Jan-2015 30-Jun-2019 30-Jun-2019 12/20/2016 Page 11 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report ACCESS WITH QUALITY TO HIGHER EDUCATION PROJECT-ACCES II -SOP PHASE 2 (P145782) Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/20/2016 Page 12 of 12 Public Disclosure Copy