The World Bank Implementation Status & Results Report Djibouti Support for Women and Youth Entrepreneurship (P165558) Djibouti Support for Women and Youth Entrepreneurship (P165558) MIDDLE EAST AND NORTH AFRICA | Djibouti | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2018 | Seq No: 9 | ARCHIVED on 28-Jun-2022 | ISR51479 | Implementing Agencies: Center for Leadership and Entrepreneurship, Republic of Djibouti - Ministry of Economy and Finance, in Charge of Industry Key Dates Key Project Dates Bank Approval Date: 08-Jun-2018 Effectiveness Date: 10-Jan-2019 Planned Mid Term Review Date: 30-Sep-2021 Actual Mid-Term Review Date: 04-Nov-2021 Original Closing Date: 31-Dec-2023 Revised Closing Date: 31-Dec-2023 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project’s development objective is to improve economic opportunities for targeted entrepreneurs. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Building capacity of women and young entrepreneurs:(Cost $6.00 M) Improving access to services, finance, and competitive value chains for women and young entrepreneurs:(Cost $7.00 M) Support for Project Implementation and Monitoring:(Cost $2.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions The implementation of the four strategic areas recommended by the mid-term review held in November 2021 has progressed well. Specifically, progress were noted on:  Expanding the target of the project towards SMEs, with the signing of a three-level framework agreement with the Chamber of Commerce (CoC) for (i) Financing of existing activities of the CoC: “Starter”, “Manager's course”, “Management Center”; (ii) Development of new joint CLE/CoC services for SMEs (iii) Structuring of sectors: Tourism, Transport and Logistics, Construction, Agribusiness and pastoralism, Digital & Robotics. In addition, CLE is working towards preparing the new EU funded SME project which will reinforce the business development services to SMEs. 6/28/2022 Page 1 of 7 The World Bank Implementation Status & Results Report Djibouti Support for Women and Youth Entrepreneurship (P165558)  Better positioning of the CLE as a catalyst for the ecosystem through the signing of technical assistance agreements including the financing of several areas of intervention such as the legal and regulatory framework for businesses, social inclusion and gender, or support for umbrella organizations, with (i) partnership agreements signed with the CoC, the Center for Social Action and Women's Empowerment, the Young Entrepreneurs Club of Djibouti (Antenne Ali Sabieh), SOS Village d'Enfants, the National Agency for the Promotion of the Handicapped, (ii) Agreements are being negotiated with the National Agency for the Promotion of Investments, the Djibouti Office of Intellectual and Commercial Property, the Ministry of National Education and Vocational Training, the Ministry of Trade and Tourism, the National Union of Djiboutian Women, the National Agency of Tourism and the Club of Young Entrepreneurs of Djibouti (Djibouti branch).  Improving access to financing for SMEs: (i) discussions are underway with the Central Bank of Djibouti (BCD) to review the percentage of the partial guarantee provided by the Partial Credit Guarantee Fund of Djibouti . 55 guarantees have already been granted for an amount of US$ 1.4 million, and 6 agreements signed with 6 conventional banks in the market (the standard agreement with Islamic banks is under negotiation), and an agreement has been signed with CPEC, (ii) At the CPEC, digitalization, interconnection (between the CPECs and the financial system), as well as the complete centralization of the database are progressing as planned. The increase in the CPEC loan ceiling to 3 million Djibouti Francs for formal enterprises is also under negotiation (request at BCD level), (iii) In cooperation with the CoC, the CLE is in the process of recruiting a firm specialized in supporting SMEs, for the development of business plans, feasibility studies for bank loans and the pipeline of investment-ready projects, depending on ticket size (Financial Institutions, IFC, etc.).  Better integration of the private sector within the CLE: (i) Sharper private sector services: More experts in business development services within the CLE team (this is underway through the recruitment of a pool of experts and the constitution of the team acceleration). (ii) improved governance: This point has not progressed well, as more private sector actors were supposed to be nominated on the CLE board of directors for a total of 9 members of which 1/3 from the private sector, 1/ 3 from civil society and 1/3 from the public sector, but while the members have been identified, the decree has not yet passed to the Council of Ministers. All project components have a set of activities which are on course. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate Substantial Macroeconomic Moderate Moderate Moderate Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Moderate Moderate Moderate Institutional Capacity for Implementation and Substantial Moderate Moderate Sustainability Fiduciary Substantial Moderate Moderate Environment and Social Moderate Moderate Moderate Stakeholders Low Low Low Other Low Low Low Overall Moderate Moderate Moderate Results PDO Indicators by Objectives / Outcomes 6/28/2022 Page 2 of 7 The World Bank Implementation Status & Results Report Djibouti Support for Women and Youth Entrepreneurship (P165558) Improving economic opportunities for targeted entrepreneurs IN01142812 ►Number of new firms registered by entrepreneurs accessing project-supported services (% female) (% youth) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 349.00 559.00 1,000.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 IN01142813 New firms registered by entrepreneurs accessing project-supported services (% female) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 55.00 55.00 50.00 IN01142814 New firms registered by entrepreneurs accessing project-supported services (% youth) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 90.00 IN01142815 ►Number of beneficiaries accessing finance through the project (% female) (% youth) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,266.00 2,574.00 5,000.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 IN01142836 Beneficiaries accessing finance under the project (% female) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 55.00 55.00 50.00 IN01142837 Beneficiaries accessing finance under the project (% youth) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 90.00 Intermediate Results Indicators by Components Building capacity of women and young entrepreneurs IN01142838 ►Number of project beneficiaries receiving grants (% female) (% youth) (Number, Custom) 6/28/2022 Page 3 of 7 The World Bank Implementation Status & Results Report Djibouti Support for Women and Youth Entrepreneurship (P165558) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 928.00 1,603.00 2,300.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 IN01142843 Number of beneficiaries receiving training completion certificates under the project (% female) (%youth) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2,255.00 4,106.00 3,000.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 IN01142845 Number of beneficiaries who won grants from the business plan competitions (% female) (%youth) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 313.00 928.00 600.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 IN01142847 Beneficiaries who won grants from the business plan competitions (% female) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 10.00 60.00 IN01142848 Beneficiaries receiving training completion certificates under the project (% female) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 40.00 46.00 50.00 IN01142849 Beneficiaries receiving training completion certificates under the project (%youth) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 90.00 IN01142850 Project beneficiaries receiving grants (% female) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 46.90 60.00 50.00 IN01142851 Project beneficiaries receiving grants (% youth) (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 90.00 IN01142852 Beneficiaries who won grants from the business plan competitions (% youth) (Percentage, Custom Supplement) 6/28/2022 Page 4 of 7 The World Bank Implementation Status & Results Report Djibouti Support for Women and Youth Entrepreneurship (P165558) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 90.00 IN01142853 ►Beneficiaries of business-development services provided through the project (%female) (%youth) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6,112.00 8,485.00 6,000.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 Improving access to services, finance, andcompetitive value chains for women and young entrepreneurs IN01142839 ►Number of partial-credit guarantees provided through the PCG Fund (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 37.00 55.00 250.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 18-Sep-2023 IN01142841 ►Number of recommendations implemented by CPEC under the restructing action plan developed through the project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 6.00 10.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 IN01142844 ►Number of recommendations implemented under value chain action plans developed through the project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.00 10.00 20.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 IN01142846 ►Amount of commercial financing mobilized through the PCG Fund supported by the Project (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1,112,848.00 1,372,708.00 2,000,000.00 Date 12-Apr-2018 10-Nov-2021 19-May-2022 31-Dec-2023 Citizen Engagement IN01142840 ►Project beneficiaries satisfied with training received (Percentage, Custom) 6/28/2022 Page 5 of 7 The World Bank Implementation Status & Results Report Djibouti Support for Women and Youth Entrepreneurship (P165558) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 80.00 90.00 90.00 Date 15-May-2018 11-Nov-2021 19-May-2022 31-Dec-2023 IN01142842 ►Project beneficiaries satisfied with business development services received (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 80.00 80.00 80.00 Date 15-May-2018 11-Nov-2021 19-May-2022 31-Dec-2023 Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P165558 IDA-62590 Effective USD 15.00 15.00 0.00 5.46 8.93 38% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P165558 IDA-62590 Effective 08-Jun-2018 15-Jul-2018 10-Jan-2019 31-Dec-2023 31-Dec-2023 Cumulative Disbursements 6/28/2022 Page 6 of 7 The World Bank Implementation Status & Results Report Djibouti Support for Women and Youth Entrepreneurship (P165558) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 6/28/2022 Page 7 of 7