The World Bank Report No: ISR5062 Implementation Status & Results Sri Lanka Small and Medium Enterprise Development Facility (P121328) Public Disclosure Copy Operation Name: Small and Medium Enterprise Development Facility Project Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 13-Apr-2011 (P121328) Country: Sri Lanka Approval FY: 2011 Product Line: IBRD/IDA Region: SOUTH ASIA Lending Instrument: Financial Intermediary Loan Implementing Agency(ies): Key Dates Board Approval Date 07-Sep-2010 Original Closing Date 31-Mar-2014 Planned Mid Term Review Date 13-Jun-2012 Last Archived ISR Date 13-Apr-2011 Effectiveness Date 05-Jan-2011 Revised Closing Date 31-Mar-2014 Actual Mid Term Review Date 13-Jun-2012 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to improve access to finance (including term finance) for SMEs affected by the Global Financial Crisis in Sri Lanka. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Component 1: Financing and Risk Sharing Facility 41.00 Component 2: Policy and Capacity Enhancement for SME Banking 12.00 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Public Disclosure Copy Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Implementation Status Overview The SME Development Facility (SMEDeF) Project was approved on September 7, 2010 and became effective on January 5, 2011. The first implementation support mission took place on March 9-16, 2011 and the second implementation support mission was held on August 8-17,2011. Locations No Location data has been entered Page 1 of 4 The World Bank Report No: ISR5062 Results Project Development Objective Indicators Public Disclosure Copy Indicator Name Core Unit of Measure Baseline Current End Target Cumulative number of active SME loans (< 36 Number Value 0.00 11.00 280.00 months maturity) Date 07-Sep-2010 01-Dec-2011 31-Mar-2014 Comments Cumulative number of active SME loans (>36 Number Value 0.00 35.00 280.00 months maturity) Date 07-Sep-2010 01-Dec-2011 31-Mar-2014 Comments Cumulative volume of loans to SMEs (<36 Amount(USD) Value 0.00 516601.00 14000000.00 months maturity, US$m equivalent) Date 07-Sep-2010 01-Dec-2011 31-Mar-2014 Comments Cumulative volume of loans to SMEs (>36 Amount(USD) Value 0.00 3860760.00 14000000.00 months maturity, US$ equivalent) Date 07-Sep-2010 01-Dec-2011 31-Mar-2014 Comments PFI SMEDeF Project Portfolio Quality (NPL Percentage Value 10.00 10.00 8.00 (% ) of >90 days) Date 07-Sep-2010 01-Dec-2011 31-Mar-2014 Comments Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Volume of Bank Support: Lines of Credit - SME Amount(USD) Value 0.00 4377370.00 28000000.00 Date Public Disclosure Copy 07-Sep-2010 01-Dec-2011 31-Mar-2014 Comments Number of new SME borrowers under RSF Number Value 0.00 0.00 1000.00 portfolio (cumulative) Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Comments Cumulative no. of PFI introducing processes/ Number Value 0.00 0.00 6.00 products/management systems specific to SME Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Page 2 of 4 The World Bank Report No: ISR5062 Indicator Name Core Unit of Measure Baseline Current End Target Comments Cumulative percentage of SMEs getting loan Percentage Value 0.00 0.00 50.00 Public Disclosure Copy after training by PFIs Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Comments Cumulative no. of PFI loan officers trained in Number Value 0.00 0.00 400.00 SME Banking products and credit risk management Date 07-Sep-2010 31-Mar-2011 31-Mar-2014 Comments Completion of findings of the diagnostic Text Value recommendations drafted and affecting SMEs and recommendation to shared with relevant address them made available. authorities for action Date 31-Mar-2014 Comments Data on Financial Performance (as of 29-Jun-2011) Financial Agreement(s) Key Dates Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date P121328 IDA-48040 Effective 07-Sep-2010 08-Nov-2010 05-Jan-2011 31-Mar-2014 Disbursements (in Millions) Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P121328 IDA-48040 Effective XDR 37.80 37.80 0.00 18.67 19.13 49.00 Disbursement Graph Public Disclosure Copy Page 3 of 4 The World Bank Report No: ISR5062 Public Disclosure Copy Key Decisions Regarding Implementation The mission found the overall implementation progress of SMEDeF to be satisfactory. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4