The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) EASTERN AND SOUTHERN AFRICA | Congo, Democratic Republic of | IBRD/IDA | Investment Project Financing (IPF) | FY 2022 | Seq No: 5 | Archived on 19-Dec-2024 | ISR02585 Implementing Agencies: Ministry of Small and Medium Enterprises and Entrepreneurship (Ministry of SMEs) 1. OBJECTIVE 1.1 Development Objective Original Development Objective (Approved as part of Approval package on 02-May-2022) The project development objective is to enhance growth of new and existing MSMEs, especially women-owned, and promote job creation particularly for women in select geographic areas. Has the Development Objective been changed since Board Approval of the Project Objective? No 2. COMPONENTS Name Support women entrepreneurs, firm creation and SME upgrading:(Cost 170,000,000.00) Financial Inclusion and Sustainable Access to Finance for Women Entrepreneurs and MSMEs:(Cost 60,000,000.00) Entrepreneurship Ecosystem Development:(Cost 60,000,000.00) Project Implementation:(Cost 10,000,000.00) Contingent Emergency Response Component:(Cost 0.00) 3. OVERALL RATINGS Name Previous Current Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Dec 19, 2024 Page 1 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) 4. KEY ISSUES & STATUS 4.1 Implementation Status and Key Decisions This is the fifth ISR which is based on the last supervision missions (November 2024) and bi-weekly virtual supervision meetings with the PIU. The project recruited key implementation partners and most of the activities under component 1 are launched on the ground (identification of women entrepreneurs, call for proposals for Business plan competition for established SMEs, recruitment of trainers, etc.). The project progress is satisfactory at this stage. 5. SYSTEMATIC OPERATIONS RISK-RATING TOOL Rating at Approval Last Approved Rating Risk Category Approval Package - ISR Seq. 04 - 22 May Proposed Rating 02 May 2022 2024 Political and Governance Substantial Substantial Substantial Macroeconomic Substantial Substantial Substantial Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Moderate Moderate Moderate Institutional Capacity for Implementation and Moderate Moderate Moderate Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Substantial Substantial Substantial Stakeholders Moderate Moderate Moderate Overall Substantial Moderate Moderate Dec 19, 2024 Page 2 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) 6. RESULTS 6.1 PDO Indicators by PDO Outcomes Growth of MSMEs Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Additional annual revenue 0.00 Apr/2022 0 15-May-2024 0 04-Nov-2024 30.00 Sep/2027 generated by supported Comments on This indicator intends to measure the increase in the average annual revenue that is generated MSMEs (Percentage) achieving targets by supported MSMEs. Additional annual 0.00 0 0 30.00 revenue generated by Comments on This indicator intends to measure the increase in the average annual revenue that is generated supported women- achieving targets by supported women owned MSMEs. owned MSMEs (Percentage) Supported MSMEs generating 0.00 Apr/2022 0.00 15-May-2024 0.00 04-Nov-2024 15,000.00 Sep/2027 additional annual revenue Comments on Number of supported MSMEs that generated the additional annual revenue (Number) achieving targets Supported women- 0.00 0.00 0.00 7,500.00 owned MSMEs Comments on This indicators measures the number of women-owned firms that generated additional generating additional achieving targets revenue, among all supported MSMEs that generated additional revenue. annual revenue (Number) Job creation by MSMEs Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Page 3 of 11 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) 0.00 Apr/2022 0.00 25-Jul-2022 0.00 04-Nov-2024 28,000.00 Sep/2027 Comments on This indicator intends to count the total number of full time-jobs the project contributed to Additional jobs created by achieving targets creating. Given the assumption that employment generated through the project could include supported MSMEs (Number) seasonal part-time basis workers, working hours will be accumulated to calculate the equivalent full-time jobs. 0.00 0.00 0.00 14,000.00 Additional jobs for Comments on This indicator intends to count the total number of full time-jobs the project contributed to women created by achieving targets creating. Given the assumption that employment generated through the project could be on a supported MSMEs seasonal part-time basis, working hours will be accumulated to calculate the equivalent full- (Number) time jobs. 0.00 Apr/2022 0.00 25-Jul-2022 0.00 04-Nov-2024 14,000.00 Sep/2027 Supported MSMEs creating Comments on This indicator intends to measure the number of supported MSMEs that created additional additional jobs (Number) achieving targets jobs with support from the project. Supported MSMEs that 0.00 0.00 0.00 7,000.00 create additional jobs Comments on This indicator intends to measure the proportion of supported MSMEs that created jobs for for women (Number) achieving targets women employees, among those that created additional jobs with support from the project. Strengthen the ability of MSMEs to face climate change challenges and adopt climate-smart technology Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year 0.00 Apr/2022 0.00 25-Jul-2022 10,000.00 04-Nov-2024 60,000,000.00 Sep/2027 Productive infrastructure Comments on This indicator will measure the overall funding portfolio dedicated to climate mitigation or investments supported by the achieving targets adaptation activities, such as clean energy investments, climate change capacity training plan, project that apply climate adaptation plan, waste management, and recycling. This funding will be primarily allocated resilience standards under the subsidies (in-kind grants to women entrepreneurs, grants for new MSMEs, matching (Amount(USD)) grants for existing SMEs, and subsidies to SME Centers). Page 4 of 11 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) 6.2 Intermediate Results Indicators by Components Support women entrepreneurs, firm creation and SME upgrading Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year 0.00 Apr/2022 0.00 15-May-2024 0.00 15-May-2024 42,750.00 Sep/2027 Beneficiaries of Comments on Number of MSMEs and individuals attending and completing entrepreneurship and entrepreneurship and achieving targets management support training programs. This indicator captures all the training provided management support directly through activities financed by the project, including personal initiative training and (technical and behavioral mentoring of women-entrepreneurs, training and mentoring of startup entrepreneurs, and training and mentoring) coaching and mentoring of existing SMEs who are participating in the matching grant (Number) programs. Women entrepreneurs 0.00 0.00 0.00 31,375.00 trained/mentored Comments on Number of women-owned MSMEs and women entrepreneurs attending and completing (Number) achieving targets entrepreneurship and management support training programs. New entrepreneurs 0.00 0.00 0.00 12,000.00 trained/mentored Comments on Number of new entrepreneurs attending and completing entrepreneurship and management (Number) achieving targets support training programs. Existing SMEs 0.00 0.00 0.00 750.00 trained/mentored Comments on Number of existing MSMEs attending and completing entrepreneurship and management (Number) achieving targets support training programs. 0.00 Apr/2022 0.00 15-May-2024 1,625.00 04-Nov-2024 13,250.00 Sep/2027 Number of MSMEs supported Comments on Number of MSMEs who applied for and received full grant amount (total number of MSMEs with grants (Number) achieving targets that received funding through the project) Women entrepreneurs 0.00 0.00 1,625.00 11,625.00 supported with grants Comments on Number of women entrepreneurs who receive in-kind grants Page 5 of 11 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) (Number) achieving targets New formal MSMEs 0.00 0.00 0.00 2,500.00 established with grant Comments on Number of new MSMEs who applied for and received full grant amount. support (Number) achieving targets Existing SMEs that 0.00 0.00 0.00 750.00 implemented Comments on Number of SMEs who applied for and received full grant amount through the matching grant technology upgrading achieving targets window. activities using matching grant support (Number) Financial Inclusion and Sustainable Access to Finance for Women Entrepreneurs and MSMEs Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year 0.00 Apr/2022 0.00 15-May-2024 3,245.00 04-Nov-2024 30,000.00 Sep/2027 Beneficiaries reached with Comments on The indicator measures the number of persons benefited from financial services in operations financial services (Number) achieving targets supported by the Bank, and the number of businesses that benefited from financial services. 0.00 Jun/2022 0.00 15-May-2024 0.00 15-May-2024 23,000.00 Jun/2027 Persons that benefited Comments on Number of persons reached with financial services in operations supported by the Bank. from financial services achieving targets Financial services include transaction accounts, deposit accounts, mobile money accounts, (Number) loans, insurance, housing finance, etc. Persons that benefited 0.00 0.00 778.00 20,000.00 from financial services – Female (Number) 0.00 Jun/2022 0.00 15-May-2024 0.00 15-May-2024 5,000.00 Jun/2027 Businesses that Comments on Number of businesses reached with financial services in operations supported by the Bank. benefited from financial achieving targets Beneficiaries include microenterprises, SMEs, and large business. Financial services include services (Number) transaction accounts, deposit accounts, mobile money accounts, loans, insurance, pension, factoring, leasing, bonds, etc. Page 6 of 11 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Guaranteed loans disbursed 0.00 Apr/2022 0.00 15-May-2024 37,200,000.00 04-Nov-2024 66,000,000.00 Sep/2027 to MSMEs with support of the Comments on Amount of loans disbursed to MSMEs that are backed up by the Portfolio Credit Guarantee Partial Portfolio Credit achieving targets fund Guarantee fund (Amount(USD)) PBC Guaranteed loans 0.00 0.00 8,556,000.00 44,000,000.00 disbursed to women- Comments on Amount of loans disbursed to women-owned MSMEs that are backed up by the Portfolio owned MSMEs achieving targets Credit Guarantee fund (Amount(USD)) 0.00 Apr/2027 0.00 15-May-2024 0.00 15-May-2024 85.00 Sep/2027 Remaining available PPCGF Comments on Remaining available PPCGF endowment for the MSMEs as percentage of the endowment endowment (Percentage) achieving targets received. Entrepreneurship Ecosystem Development Baseline Actual (Previous) Actual (Current) Closing Period Indicator Name Value Month/Year Value Date Value Date Value Month/Year Implemented reforms 0.00 Apr/2022 0.00 15-May-2024 0.00 15-May-2024 5.00 Sep/2027 supporting private sector development (Number) Reforms including 0.00 0.00 0.00 3.00 support for women Comments on Implemented gender-friendly reforms supporting private sector development and promoting entrepreneurs achieving targets economic empowerment of women (Number) Firms benefiting from private 0.00 Apr/2022 0.00 15-May-2024 0.00 15-May-2024 1,000.00 Sep/2027 sector initiatives (Number) Women-owned MSMEs 0.00 0.00 0.00 50.00 benefitting from private Comments on Women-owned MSMEs that received services from the SME Centers sector initiatives (SME achieving targets Centers) (Percentage) Public agencies offer 0.00 Apr/2022 0.00 15-May-2024 0.00 15-May-2024 8.00 Sep/2027 Page 7 of 11 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) new/improved programs and Comments on This indicator will measure the effect of the institutional capacity building of various public services to support achieving targets sector agencies involved in investment promotion and entrepreneurship development, entrepreneurs, MSMEs and including the investment promotion agency, the newly created agency for enterprises private investors in the DRC development, the National Agency for the Environment, national laboratories, certification (Number) centers, and other public facilities, and social public procurement. 6.3 Performance Based Conditions (PBC) Actual (Previous) Actual (Current) PBC Name Baseline Closing Period Value Date Value Date 1:Guaranteed loans Value 0.00 0.00 0.00 disbursed to MSMEs with support of the Partial Portfolio Allocated 15-May-2024 15-May-2024 Credit Guarantee 0.00 0.00 0.00 Amount fund (Amount(USD)) PBC allocation 10,000,000.00 2:Guaranteed loans Value 0.00 0.00 37,200,000.00 disbursed to MSMEs with support of the Partial Portfolio Allocated 15-May-2024 27-Jun-2024 Credit Guarantee 0.00 0.00 7,000,000.00 Amount fund (Amount(USD)) Page 8 of 11 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) Achieved PBC allocation 27,000,000.00 Page 9 of 11 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) 7. DATA ON FINANCIAL PERFORMANCE 7.1 Cumulative Disbursements 7.2 Disbursements (by loan) Loan/Credit/TF Status Original Revised Cancelled Disbursed Undisbursed % Disbursed Historical Disbursed IDA-E0280 Effective 150.00 144.32 0.00 44.22 99.49 30.77% 150.00 IDA-71010 Effective 150.00 150.00 0.00 24.75 125.25 16.50% 150.00 7.3 Key Dates (by loan) Loan/Credit/TF Status Approval Signing Effectiveness Orig. Closing Rev. Closing Dec 19, 2024 Page 8 of 9 The World Bank Implementation Status & Results Report Empowering Women Entrepreneurs and Upgrading MSMEs for Economic Transformation and Jobs in DRC Project (P178176) IDA-71010 Effective 02-May-2022 01-Jun-2022 21-Dec-2022 30-Sep-2027 30-Sep-2027 IDA-E0280 Effective 02-May-2022 01-Jun-2022 12-Dec-2022 30-Sep-2027 30-Sep-2027 8. KEY DATES Key Events Planned Actual Approval 02-May-2022 02-May-2022 Effectiveness 12-Dec-2022 12-Dec-2022 Mid-Term Review No. 01 14-Jul-2025 Operation Closing/Cancellation 30-Sep-2027 9. RESTRUCTURING HISTORY 10. ASSOCIATED OPERATION(S) There are no associated operations Dec 19, 2024 Page 9 of 9