The World Bank Report No: ISR6313 Implementation Status & Results Papua New Guinea PNG - Small and Medium Enterprise Access to Finance Project (P120707) Public Disclosure Copy Operation Name: PNG - Small and Medium Enterprise Access to Finance Project Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 13-Sep-2011 Project (P120707) Country: Papua New Guinea Approval FY: 2011 Product Line: IBRD/IDA Region: EAST ASIA AND PACIFIC Lending Instrument: Financial Intermediary Loan Implementing Agency(ies): Key Dates Board Approval Date 03-May-2011 Original Closing Date 31-Dec-2024 Planned Mid Term Review Date 15-Apr-2013 Last Archived ISR Date 13-Sep-2011 Effectiveness Date 15-Sep-2011 Revised Closing Date 31-Dec-2024 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The proposed development objective of this project is to facilitate access to sustainable credit for small and medium enterprises and thus contribute to incremental growth of SME employment and income. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Risk Share Facility 11.90 Performance-based TA to participating financial intermediaries 2.95 TA to enhance SME Capacity 5.03 TA to the Department of Commerce and Industry 6.62 Public Disclosure Copy Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Implementation Status Overview The Project became effective on September 15, 2011. All conditions for withdrawal of IDA credit were met for all categories specified in the Financing Agreement as of March 12, 2012 with IDA issuing confirmation letters to the GoPNG. Project Implementation Unit in DCI has been established and staffed with key management staff. The PIU and BSP are at initial implementation stage by getting familiar with the relevant Bank procedures and requirement in utilization of IDA credit and recruiting consultants. Financial Management Page 1 of 4 The World Bank Report No: ISR6313 Manual for the project has been drafted. BSP has started underwriting subloans under the RSF (Component 1) and has identified a good pipeline of potential SME borrowers. BSP has met the disbursement conditions for the first 3 tranches under the Performance-based Grant (Component 2). A resident adviser on SME Finance has been contracted by BSP. PIU is recruiting consultants for the PIU professional positions and for the SME Baseline Survey. Public Disclosure Copy Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Outstanding SME Loan Portfolio Amount(USD) Value 117.00 Date 31-Aug-2011 Comments The original figure is 300 m kina. Percentage of project-supported institutions Percentage Value 100.00 that are reporting on this indicator Sub Type Supplemental Increase of Number of Subloans under the Number Value 1000.00 SME loan portfolio Sub Type Supplemental Inreased Number of formal sector SMEs Number Value (including women managed) Sub Type Supplemental Increadmental employment generated by Percentage Value SMEs participating in RSF Sub Type Supplemental Incremental SME Revenue generated by SMEs Percentage Value Public Disclosure Copy participating in RSF Sub Type Supplemental Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Return on assets Percentage Value 1.50 Date 31-Aug-2011 Comments Page 2 of 4 The World Bank Report No: ISR6313 Improved SME managerial and financail skills - Number Value # trained Date Comments Public Disclosure Copy Numbers of women in SMEs trained Number Value Sub Type Supplemental % trainees obtaining the loans Percentage Value Sub Type Supplemental Improved GoPNG capacity to supoport SME Text Value sector Date Comments Data on Financial Performance (as of 28-Mar-2012) Financial Agreement(s) Key Dates Project Loan No. Status Approval Date Signing Date Effectiveness Date Closing Date P120707 IDA-49280 Effective 03-May-2011 14-Jun-2011 15-Sep-2011 31-Dec-2024 Disbursements (in Millions) Project Loan No. Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P120707 IDA-49280 Effective XDR 13.93 13.93 0.00 0.65 13.28 5.00 Disbursement Graph Public Disclosure Copy Page 3 of 4 The World Bank Report No: ISR6313 Public Disclosure Copy Key Decisions Regarding Implementation None. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4