The World Bank Implementation Status & Results Report West Bank and Gaza: Finance for Jobs (P151089) West Bank and Gaza: Finance for Jobs (P151089) MIDDLE EAST AND NORTH AFRICA | West Bank and Gaza | Finance, Competitiveness and Innovation Global Practice | Special Financing | Investment Project Financing | FY 2016 | Seq No: 9 | ARCHIVED on 26-Jul-2020 | ISR41846 | Implementing Agencies: Project Implementation Agency (DAI), Ministry of Finance and Planning, The Palestinian Liberation Organization (for the Benefit of the Palestinian Authority) Key Dates Key Project Dates Bank Approval Date: 18-Dec-2015 Effectiveness Date: 30-Nov-2016 Planned Mid Term Review Date: 26-Nov-2018 Actual Mid-Term Review Date: 25-Oct-2018 Original Closing Date: 31-Jan-2021 Revised Closing Date: 31-Jan-2021 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The SOP development objective (PDO) is to mobilize private investment financing in high potential sectors and generate job opportunities for the West Bank and Gaza. The F4J PDO is to test the effectiveness of selected financial interventions. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Entrepreneurship Ecosystem Matching Grant:(Cost $1.60 M) Capacity Building and Lessons Learned:(Cost $2.17 M) Project Management Component:(Cost $0.70 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating High Moderate Implementation Status and Key Decisions The Finance for Jobs I (F4J I) Project continues towards achieving its development objective and intermediate results. Disbursements have increased from 69% in January 2020 to 84% in July 2020. In February 2020, the team conducted an implementation support mission, which resulted in a proposed set of recommendations for restructuring, which were later re-visited and adjusted in response to the COVID-19 pandemic. 7/26/2020 Page 1 of 6 The World Bank Implementation Status & Results Report West Bank and Gaza: Finance for Jobs (P151089) The team has proposed a 12-month extension (from January 2021 to January 2022) of the Project and revision of the results framework to include one additional intermediate results indicator. The proposed extension, if approved, would allow for the committed funds under the Entrepreneurship Ecosystem Matching Grants component to be fully disbursed as well as ensure additional time for the disbursement of Rapid Response Working Capital Grants to SMEs to address liquidity shocks as a result of COVID-19. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance High High Substantial Macroeconomic Substantial High Substantial Sector Strategies and Policies Substantial Substantial Moderate Technical Design of Project or Program High Substantial Low Institutional Capacity for Implementation and Substantial Moderate Low Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Moderate Low Low Stakeholders Low Substantial Moderate Other -- -- Substantial Overall High High Moderate Results PDO Indicators by Objectives / Outcomes The F4J PDO is to test the effectiveness of selected financial interventions IN00845264 ►Private Capital Mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4,218,827.00 5,357,420.00 6,000,000.00 Date 31-Jan-2016 28-Nov-2019 30-Jun-2020 31-Jan-2021 IN00845265 ►Number of Feasibility Studies Completed for Job-Focused Private Investments Pipeline (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 7/26/2020 Page 2 of 6 The World Bank Implementation Status & Results Report West Bank and Gaza: Finance for Jobs (P151089) Value 0.00 5.00 7.00 5.00 Date 31-Jan-2016 28-Nov-2019 30-Jun-2020 31-Jan-2021 IN00845291 ►DIB Taken to Market (Structuring of SPV) (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 31-Jan-2016 28-Nov-2019 30-Jun-2020 31-Jan-2021 Overall Comments PDO Private Capital Mobilized A total of USD 5,357.420 of private capital has been mobilized as part of the EE-MG. The private capital was raised by 13 startups that are supported by Ibtikar Investment Fund and Flow accelerator. Feasibility Studies Since the previous reporting period an additional two feasibility studies have been conducted and completed by the PIA, one focusing on broadband internet in rural areas in Gaza and the other on a slaughterhouse in Gaza. Overall the target has been achieved. DIB Taken to Market The SPV has been established during the previous reporting period in the fall of 2019. Intermediate Results Indicators by Components Entrepreneurship Ecosystem Matching Grant IN00845292 ►Citizen Engagement: Beneficiaries that feel project investment reflected their needs (%) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 83.25 85.70 85.00 Date 30-Nov-2016 13-Dec-2019 30-Jun-2020 31-Jan-2021 The EE-MG beneficiaries have expressed on several occasions that the business development services (BDS) funded by F4J are very relevant to their needs. The BDS design and identification were demand Comments: driven and developed based on their needs. IN00845294 ►Number of Investment-Ready Entrepreneurship Initiatives in the Pipeline for the EE-MG (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 22.00 24.00 15.00 7/26/2020 Page 3 of 6 The World Bank Implementation Status & Results Report West Bank and Gaza: Finance for Jobs (P151089) Date 30-Nov-2016 13-Dec-2019 30-Jun-2020 31-Jan-2021 A total of 24 startups are currently being supported through one investment fund and two accelerators. Comments: Capacity Building and Lessons Learned IN00845293 ►Number of PA Staff Trained (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.00 8.00 4.00 Date 30-Nov-2016 13-Dec-2019 30-Jun-2020 31-Jan-2021 MoF and PIA staff participated in trainings agreed as part of the capacity building plan in 2019. Comments: Furthermore two trainees are continuing on their on-the-job training. IN00845295 ►Legal formation of the DIB SPV (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No Yes Yes Yes Date 30-Nov-2016 13-Dec-2019 30-Jun-2020 31-Jan-2021 The DIB vehicle has been legally registered during the previous reporting period. Comments: IN00845296 ►Number of Briefs/Reports Produced on Lessons Learned from the Project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2.00 4.00 5.00 Date 30-Nov-2016 13-Dec-2019 30-Jun-2020 31-Jan-2021 During this reporting period an annual report as well as a lessons learned report for 2019 were produced, Comments: bringing the total number of reports to 5. Overall Comments IR During this reporting period, the project has successfully completed almost all intermediate targets. The project team expects that the final lessons learned report will be produced at the end of 2020. Performance-Based Conditions Data on Financial Performance Disbursements (by loan) 7/26/2020 Page 4 of 6 The World Bank Implementation Status & Results Report West Bank and Gaza: Finance for Jobs (P151089) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P151089 TF-A1490 Effective USD 5.00 5.00 0.00 4.20 0.80 84% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P151089 TF-A1490 Effective 10-Mar-2016 10-Mar-2016 30-Nov-2016 31-Jan-2021 31-Jan-2021 Cumulative Disbursements PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC Restructuring History Level 2 Approved on 28-Jun-2017 Related Project(s) 7/26/2020 Page 5 of 6 The World Bank Implementation Status & Results Report West Bank and Gaza: Finance for Jobs (P151089) There are no related projects. 7/26/2020 Page 6 of 6