The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) Formal Employment Creation Project (P171766) EUROPE AND CENTRAL ASIA | Turkiye | IBRD/IDA | Investment Project Financing (IPF) | FY 2020 | Seq No: 8 | Archived on 28-Jun-2024 | ISR00777 Implementing Agencies: Development and Investment Bank of Turkey 1. OBJECTIVE 1.1 Development Objective Original Development Objective (Approved as part of Decision package on 30-Mar-2020) The project objective is to enhance the conditions for formal job creation by firms operating in provinces with high incidence of Syrians under Temporary Protection (SuTP), for the benefit of Turkish citizens and refugees. Has the Development Objective been changed since Board Approval of the Project Objective? No 2. COMPONENTS Name Loans targeting firms with high potential for job creation:(Cost 345,770,000.00) Technical and Institutional Support:(Cost 7,270,000.00) Grants targeting firms conditional on job creation in all pilot provinces and job creation and retention in earthquake affected areas:(Cost 76,940,000.00) 3. OVERALL RATINGS Name Previous Current Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Substantial Substantial 4. KEY ISSUES & STATUS Jun 28, 2024 Page 1 of 8 The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) 4.1 Implementation Status and Key Decisions The overall Project implementation progress remains satisfactory and on course to achieve its Development Objective. Under component 1, a total of 129 sub-loans have been provided. Under component 2, sub-grant agreements have been signed with 582 firms. Significant progress has also been made on the development of an M&E system, communications, institutional capacity development and project management under Component 3. A fourth restructuring of the Project was approved by the World Bank management on June 24, 2024. The main changes under the restructuring include (i) an extension of the project closing date to November 30, 2025 and (ii) some changes to the project results framework. 5. SYSTEMATIC OPERATIONS RISK-RATING TOOL Rating at Approval Last Approved Rating Risk Category Approval Package - ISR Seq. 07 - 21 Dec Proposed Rating 31 Mar 2020 2023 Political and Governance Moderate Moderate Moderate Macroeconomic Substantial Substantial Substantial Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Substantial Substantial Substantial Sustainability Fiduciary Moderate Moderate Moderate Environment and Social Substantial Substantial Substantial Stakeholders Moderate Moderate Moderate Overall Substantial Substantial Substantial Jun 28, 2024 Page 2 of 8 The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) 6. RESULTS 6.1 PDO Indicators by PDO Outcomes To increase access to finance in loan beneficiary firms Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Ratio of the average maturity 1 Jun/2020 1.30 31-May-2024 1.30 31-May-2024 >1 Dec/2024 of beneficiary firms sub- financing under the project, over the average maturity of borrower's portfolio not financed under the project (Text) To increase formal job creation and job retention in grant beneficiary firms Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Number of formal jobs 0.00 Jun/2020 0.00 31-May-2024 0.00 31-May-2024 9,000.00 Nov/2025 created in all pilot provinces and jobs created and jobs retained in earthquake affected areas by Grants (disaggregated by gender) (Number) Number of formal jobs 0.00 Jun/2020 0.00 31-May-2024 0.00 31-May-2024 4,500.00 Nov/2025 created in all pilot provinces and jobs created and jobs retained in earthquake Jun 28, 2024 Page 3 of 8 The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) affected areas in SMEs (disaggregated by gender) (Number) Number of formal jobs 0.00 Jun/2020 0.00 31-May-2024 0.00 31-May-2024 2,700.00 Nov/2025 created or retained for women (Number) To enhance skills in beneficiary firms Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Increased management skills 1 Jun/2020 1 31-May-2024 1 31-May-2024 >1 Dec/2024 in loan beneficiary firms (Text) Increased employee skills in 1 Jun/2020 1 31-May-2024 1 31-May-2024 >1 Nov/2025 grant beneficiary firms (Text) 6.2 Intermediate Results Indicators by Components Loans targeting firms with high potential for job creation Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Capital Stock of loan 1 Jun/2020 >1 31-May-2024 >1 31-May-2024 >1 Jun/2024 beneficiary firms (Text) Citizen engagement: Loan 0.00 Jun/2020 87.00 08-Dec-2023 87.00 08-Dec-2023 80.00 Dec/2024 beneficiaries report that project sub-finance reflected their needs (Percentage) Technical and Institutional Support Jun 28, 2024 Page 4 of 8 The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Monitoring and Evaluation No Jun/2020 Yes 31-May-2024 Yes 31-May-2024 Yes Dec/2024 system developed (TKYB) Comments on No description available for this Corporate indicator (Yes/No) achieving targets Training provided to loan 0.00 Jun/2020 30.00 31-May-2024 30.00 31-May-2024 25.00 Jun/2024 officers (in TKYB and PFIs) (Number) Number of employers 0.00 Jun/2020 0.00 08-Dec-2023 0.00 08-Dec-2023 120.00 Dec/2024 completing training (Number) Grants targeting firms conditional on job creation in all pilot provinces and job creation and retention in earthquake affected areas Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year 0.00 Jun/2020 582 15-Mar-2024 582 15-Mar-2024 500 Nov/2025 Number of firms receiving Comments on No description available for this Corporate indicator grants (Number) achieving targets Number of women-inclusive 0.00 Jun/2020 407 31-May-2024 407 31-May-2024 200 Nov/2025 firms receiving grants Comments on No description available for this Corporate indicator (Number) achieving targets Number of employees 0.00 Jun/2020 0.00 31-May-2024 0.00 31-May-2024 4,500.00 Nov/2025 completing training Comments on No description available for this Corporate indicator (Number) achieving targets Citizen engagement: Grant 0.00 Jun/2020 0.00 31-May-2024 0.00 31-May-2024 80.00 Nov/2025 beneficiaries report that project sub-finance reflected their needs (Percentage) Jun 28, 2024 Page 5 of 8 The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) Citizen engagement: Workers 0.00 Jun/2020 0.00 31-May-2024 0.00 31-May-2024 85.00 Nov/2025 in grant beneficiary firms reporting that training and employment processes met their needs (disaggregated by gender) (Percentage) Jun 28, 2024 Page 6 of 8 The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) 7. DATA ON FINANCIAL PERFORMANCE 7.1 Cumulative Disbursements 7.2 Disbursements (by loan) Loan/Credit/TF Status Original Revised Cancelled Disbursed Undisbursed % Disbursed TF-B4699 Effective 91.96 91.96 0.00 14.94 67.02 16.25% IBRD-90780 Effective 347.35 347.35 0.00 350.85 1.26 100.00% 7.3 Key Dates (by loan) Loan/Credit/TF Status Approval Signing Effectiveness Orig. Closing Rev. Closing IBRD-90780 Effective 31-Mar-2020 01-Jun-2020 25-Sept-2020 31-Dec-2024 31-Dec-2024 Jun 28, 2024 Page 7 of 8 The World Bank Implementation Status & Results Report Formal Employment Creation Project (P171766) TF-B4699 Effective 22-Feb-2021 22-Feb-2021 22-Apr-2021 31-Dec-2022 30-Nov-2025 8. KEY DATES Key Events Planned Actual Approval 31-Mar-2020 31-Mar-2020 Effectiveness 30-Jul-2020 25-Sept-2020 Mid-Term Review No. 01 14-Jul-2023 24-Jul-2023 Operation Closing/Cancellation 31-Dec-2024 9. RESTRUCTURING HISTORY Restructuring Level 2 Approved on 02-Jan-2024 Restructuring Level 2 Approved on 17-Dec-2020 Restructuring Level 2 Approved on 13-Dec-2022 Restructuring Level 2 Approved on 20-Jun-2024 10. ASSOCIATED OPERATION(S) There are no associated operations Jun 28, 2024 Page 8 of 8