The World Bank Report No: ISR9322 Implementation Status & Results Kyrgyz Republic Agribusiness & Marketing Project (P049724) Public Disclosure Copy Operation Name: Agribusiness & Marketing Project (P049724) Project Stage: Implementation Seq.No: 16 Status: ARCHIVED Archive Date: 25-Feb-2013 Country: Kyrgyz Republic Approval FY: 2005 Product Line: IBRD/IDA Region: EUROPE AND CENTRAL ASIA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Key Dates Board Approval Date 14-Dec-2004 Original Closing Date 31-Dec-2010 Planned Mid Term Review Date 30-Mar-2009 Last Archived ISR Date 26-Aug-2012 Effectiveness Date 02-May-2005 Revised Closing Date 31-Mar-2013 Actual Mid Term Review Date 13-Apr-2009 Project Development Objectives Project Development Objective (from Project Appraisal Document) The objective of the Project is to assist the Borrower in increasing and enhancing the business activities of the Beneficiary agribusinesses supporting the Borrower#s economic growth. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost MARKET DEVELOPMENT 2.64 ACCESS TO CREDIT 5.27 PROJECT MONITORING AND ADVISORY 0.02 Overall Ratings Previous Rating Current Rating Public Disclosure Copy Progress towards achievement of PDO Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Implementation Status Overview All project activities have been completed by June 30, 2012, except for setting up of the Food Technology Training Center (FTTC) under the Kyrgyz State Technical University (KSTU). Overall, the project achieved the following results. Under the Enterprise Development Subcomponent the Agribusiness Competitiveness Center (ABCC) supported 42 agri- businesses, which have developed 68 new products, identified new markets, and increased sales and profits in the client companies. The ABCC Market Development Service (MDS) Page 1 of 5 The World Bank Report No: ISR9322 successfully facilitated the trading and promotion of Kyrgyz agricultural products both domestically and abroad. Since its inception in 2006, the MDS has facilitated 1,971 client contacts on various matters, including 142 trade deals for almost 54,000 tons of agricultural products for a total value of US$17.5 million (of which 89% were sold to export markets). Under the Access to Credit Component, the credit line was fully disbursed, and the commercial bank training activities have been done very cost-effectively and far exceeding the original targets. A total of 108 sub-loans have been financed under the project from the Credit Line (including 11 sub-loans to cooperatives) and from reflows amounting to almost US Public Disclosure Copy $6.76 million equivalent. Total investments mobilized into the agribusiness sector amount to about US$14.8 million equivalent, including the required co-financing by Participating Financial Institutions and beneficiaries. Fifty-eight matching grants totaling US$0.8 million have been granted to cooperatives towards co-financing their investments. An extensive training program for loan officers of commercial banks has also been provided under the project, with 883 loan officers and branch managers trained in various subjects. The Market Conditions Analysis Unit (MCAU) collected and provided the Ministry of Agriculture with market price information and market analysis on key food items. These were posted regularly on the ABCC website. Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Increase in sales of agribusinesses supported Percentage Value 0.00 85.00 25.00 by the Project, nominal Date 02-May-2005 23-May-2012 30-Nov-2012 Comments No agribusinesses were Target exceeded more than 3 supported before the start of times. the project Increase in profits of agribusinesses supported Percentage Value 0.00 40.00 20.00 by the Project, nominal Date 02-May-2005 23-May-2012 30-Nov-2012 Comments No agribusinesses supported Results are double the end before the project target. Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Volume (in US$) of trade deals facilitated Amount(USD) Value 0.00 17500000.00 2000000.00 Public Disclosure Copy Date 02-May-2005 23-May-2012 30-Nov-2012 Comments MDS was set up under the End target significantly project exceeded. Number of agribusinesses receiving assistance Number Value 0.00 42.00 40.00 from ABCC Date 02-May-2005 23-May-2012 30-Nov-2012 Comments No enterprises supported End target exceeded. before the project 20 were supported under the first TA package; 24 (including 17 new) under the Page 2 of 5 The World Bank Report No: ISR9322 second TA package; 18 (including 5 new) under the second package extension Number of key business environment Number Value 0.00 3.00 3.00 Public Disclosure Copy constraints identified and tackled Date 02-May-2009 23-May-2012 30-Nov-2012 Comments End target achieved. Two VAT calculation on agricultural produce issues (for exports to Kazakhstan and exports to Russia) tackled;one more issue - on illegal payments in key selected transit corridors being monitored Number of public service staff trained Number Value 0.00 1070.00 50.00 Date 02-May-2005 23-May-2012 30-Nov-2012 Comments End target significantly exceeded. Public sector staff trained during seminars and presentations-discussions. Total volume of investments attracted to Amount(USD) Value 0.00 14861509.00 10000000.00 beneficiary agribusinesses Date 02-May-2009 23-May-2012 30-Nov-2012 Comments End target exceeded by almost 50%. Number of loan officers trained in the banking Number Value 0.00 883.00 150.00 sector Date 02-May-2009 23-May-2012 30-Nov-2012 Comments End target significantly exceeded. Including: 380 in Investment Lending and Leasing, 337 in Structured Finance, Public Disclosure Copy 166 in Environmental Training Number of Grants to producer organizations/ Number Value 0.00 58.00 50.00 cooperatives Date 17-Jul-2009 24-Jul-2012 30-Nov-2012 Comments 58 grants have been disbursed in the total amount of US$800,000 equivalent. Target exceeded. Number of market analysis reports prepared Number Value 0.00 52.00 20.00 and disseminated Date 02-May-2005 23-May-2012 30-Nov-2011 Page 3 of 5 The World Bank Report No: ISR9322 Comments Market Conditions Analysis End target significantly Unit, which prepares reports, exceeded. set up under the project Public Disclosure Copy Volume of Bank Support: Lines of Credit - SME Amount(USD) Value 0.00 5032678.00 2500000.00 Date 02-May-2005 23-May-2012 30-Nov-2012 Comments Disbursements for agribusiness development. End target significantly exceeded. Volume of Bank Support: Institutional Amount(USD) Value 0.00 564646.00 200000.00 Development - SME Date 02-May-2005 23-May-2012 30-Nov-2012 Comments Project-specific TA to the banking sector. End target significantly exceeded. Data on Financial Performance (as of 29-Nov-2012) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P049724 IDA-40150 Effective 14-Dec-2004 03-Feb-2005 02-May-2005 31-Dec-2010 31-Mar-2013 P049724 TF-53554 Effective 03-Feb-2005 03-Feb-2005 02-May-2005 31-Dec-2010 31-Mar-2013 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P049724 IDA-40150 Effective USD 8.10 8.10 0.00 7.79 0.64 96.00 P049724 TF-53554 Effective USD 4.75 4.75 0.00 4.75 0.00 100.00 Disbursement Graph Public Disclosure Copy Page 4 of 5 The World Bank Report No: ISR9322 Public Disclosure Copy Key Decisions Regarding Implementation The project closing date was extended to March 31, 2013. Restructuring History Board Approved on 17-Jul-2009, Level two Approved on 17-Dec-2010, Level two Approved on 28-Dec-2010, Level two Approved on 08-Dec-2011, Level two Approved on 23- Dec-2011, Level two Approved on 28-May-2012, Level two Approved on 21-Nov-2012 Related Projects There are no related projects. Public Disclosure Copy Page 5 of 5