Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) MX: Expanding Rural Finance (P153338) LATIN AMERICA AND CARIBBEAN | Mexico | Finance & Markets Global Practice | IBRD/IDA | Investment Project Financing | FY 2016 | Seq No: 1 | ARCHIVED on 11-Mar-2016 | ISR22776 | Implementing Agencies: Financiera Nacional de Desarrollo Agropecuario, Rural, Forestal y Pesquero Key Dates Key Project Dates Bank Approval Date:24-Nov-2015 Effectiveness Date:-- Planned Mid Term Review Date:-- Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2020 Revised Closing Date:31-Dec-2020 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project’s development objective is to expand the availability of finance to the rural economy. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name 1. Expanding Credit for Rural MSMEs:(Cost $375.00 M) 2. Strengthening Institutional Capacity for Sustainable Rural Finance:(Cost $30.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  --  Satisfactory Overall Implementation Progress (IP)  --  Satisfactory Overall Risk Rating  --  Moderate Implementation Status and Key Decisions 3/11/2016 Page 1 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) This first ISR reflects the findings of the mission conducted in February 2016 related to the signing of the FND loan. An event to celebrate the signing of the Expanding Rural Finance loan was held on February 5 at the Palacio Nacional, with participation of officials from World Bank, SHCP and FND. While the project team awaits formal effectiveness of the loan, it is working with FND to prepare for various aspects of implementation, including: Component 1A: developing a pipeline of participating financial institutions with which the credit line of the project will be disbursed, Component 1B: working with FND to refine ideas for its pilot fund for innovations in rural finance, and Component 2A: developing plans related to the modernization of IT systems project. 3/11/2016 Page 2 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Moderate  --  Moderate Macroeconomic  Moderate  --  Moderate Sector Strategies and Policies  Moderate  --  Moderate Technical Design of Project or Program  Moderate  --  Moderate Institutional Capacity for Implementation and Sustainability  Moderate  --  Moderate Fiduciary  Moderate  --  Moderate Environment and Social  Low  --  Low Stakeholders  Moderate  --  Moderate Other  --  --  -- Overall  Moderate  --  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Number of loans disbursed under project (cumulative) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 74800.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 PHINDPDOTBL  Volume of total loans disbursed under project (cumulative), US$ million (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target 3/11/2016 Page 3 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) Value 0.00 -- 0.00 374.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 PHINDPDOTBL  Average non-performing loans ratio for PFIs receiving project funds (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 6.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 Overall Comments Project is not yet signed and effective as of ISR date of Feb 22 so no results can be reported. Intermediate Results Indicators PHINDIRITBL  Volume of Bank Support: Lines of Credit - Microfinance (Amount(USD), Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 187.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 PHINDIRITBL  Volume of Bank Support: Lines of Credit - SME (Amount(USD), Core) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 187.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 3/11/2016 Page 4 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) PHINDIRITBL  Number of final beneficiaries with loans financed with project funds (cumulative) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 41555.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 PHINDIRITBL  Number of final microfinance beneficiaries financed with project funds (cumulative) (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 24945.00 PHINDIRITBL  Female beneficiaries as a share of total beneficiaries financed by the project. (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 60.00 PHINDIRITBL  Share of loan recipients from marginal municipalities financed by the project. (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 15.00 3/11/2016 Page 5 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) PHINDIRITBL  Average NPL rate for FND lending to PFIs under the project-funded credit line (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 5.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 PHINDIRITBL  Percentage of FND branch offices using the new core banking system. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 70.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 PHINDIRITBL  Number of PFIs that receive capacity building from FND (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 145.00 -- 0.00 725.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 PHINDIRITBL  Submission of operational tracking data (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N -- N Y Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 3/11/2016 Page 6 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) PHINDIRITBL  Number of PFIs registered to receive client feedback on Financial Consumer Protection Agency's (CONDUSEF) website (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 107.00 -- 107.00 200.00 Date 01-Sep-2015 -- 05-Feb-2016 31-Dec-2020 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed Not P153338 IBRD-85550 USD 400.00 400.00 0.00 0.00 400.00 0% Effective Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date Not P153338 IBRD-85550 24-Nov-2015 -- -- 31-Dec-2020 31-Dec-2020 Effective Cumulative Disbursements 3/11/2016 Page 7 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MX: Expanding Rural Finance (P153338) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 3/11/2016 Page 8 of 8 Public Disclosure Copy