The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Finance for Jobs II (P159337) MIDDLE EAST AND NORTH AFRICA | West Bank and Gaza | Finance, Competitiveness and Innovation Global Practice | Special Financing | Investment Project Financing | FY 2018 | Seq No: 5 | ARCHIVED on 06-Jan-2020 | ISR38995 | Implementing Agencies: Ministry of Finance and Planning, Project Implementing Agency (DAI), Palestine Liberation Organization (for the benefit of the Palestinian Authority) Key Dates Key Project Dates Bank Approval Date: 27-Jul-2017 Effectiveness Date: 27-Nov-2017 Planned Mid Term Review Date: 24-Feb-2020 Actual Mid-Term Review Date: Original Closing Date: 29-Oct-2021 Revised Closing Date: 29-Oct-2021 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) To test the effectiveness of selected financial interventions in incentivizing private sector investment and job creation. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Development Impact Bond (DIB) for Skills Development and Employment:(Cost $5.00 M) Investment Co-Financing Facility (ICF):(Cost $8.00 M) Entrepreneurship Ecosystem Matching Grant (EE-MG) Project Management:(Cost $1.50 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating High High Implementation Status and Key Decisions Overall implementation progress for Finance for Jobs II (F4J II) remains Moderately Satisfactory based on the progress of individual components and the overall disbursement rate. With respect to the progress towards achievement of the project development objectives (PDO), reported outcomes on private capital mobilization are above-target for year two and some outcomes on jobs are observable from the implementation of the Investment Co-financing Facility (ICF). In the reporting period, a major milestone was reached with the conclusion of the negotiation of the outcomes contract for the Development Impact Bond (DIB) component, followed by a formal launch of the instrument in November 2019. With the launching of the DIB, the team assesses an improved likelihood that the project will achieve outcomes and outputs linked to jobs, private capital mobilization and numbers of beneficiaries supported. 1/6/2020 Page 1 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance High High High Macroeconomic High High High Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Sustainability Substantial Substantial Substantial Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Moderate Stakeholders Substantial Substantial Substantial Other -- -- -- Overall High High High Results PDO Indicators by Objectives / Outcomes To test the effectiveness of selected financial interventions in incentivizing private sector invest IN00757313 ►Number of jobs created (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 23.00 2,200.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757314 ►Private Capital Mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 4,580,819.00 8,500,000.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 1/6/2020 Page 2 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Overall Comments PDO Number of jobs created: 23 jobs were created as part of the first mover Gaza solar deal. Private capital mobilization for ICF component: The cumulative total capital mobilization is recorded in the amount of US$2,780,819 (sponsor equity to implement the GIE PV Solar Panel Subproject). Private Capital Mobilized for DIB component from four investors to the DIB SPV as a result of signing the Performance and Funding agreement is (US$1,800,000). Intermediate Results Indicators by Components Development Impact Bond (DIB) for Skills Development and Employment IN00757315 ►Number of DIB benefciaries that start DIB program and complete a career assessment (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 2,100.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757383 Number of DIB benefciaries that start DIB program and complete a career assessment -- Women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 600.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757384 ►Number of DIB beneficiaries accepted into internships or apprenticeship programs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 730.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757387 Number of DIB beneficiaries accepted into internships or apprenticeship programs -- Women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 150.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757388 ►Number of DIB beneficiaries that complete training programs (Number, Custom) 1/6/2020 Page 3 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1,400.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757390 Number of DIB beneficiaries that complete training programs -- Women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 350.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 Investment Co-Financing Facility (ICF) IN00757381 ►Firms benefiting from private sector initiatives (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 2.00 56.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757382 ►Beneficiaries of job-focused interventions (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 28.50 3,400.00 Date 01-Sep-2017 06-Jun-2019 29-Nov-2019 29-Oct-2021 IN00757385 Beneficiaries of job-focused interventions - Youth (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 12.00 2,130.00 IN00757386 Beneficiaries of job-focused interventions - Female (Number, Corporate Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 6.00 620.00 IN00757389 ►Beneficiaries that feel project investments reflected their needs (percentage) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 85.00 Date 01-Sep-2017 06-Jun-2019 13-Dec-2019 29-Oct-2021 Overall Comments IR Increase in intermediary targets as a result of the 'first mover' Gaza solar deal. 1/6/2020 Page 4 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P159337 TF-A5114 Effective USD 1.50 1.50 0.00 0.00 1.50 0% P159337 TF-A5297 Effective USD 8.00 8.00 0.00 2.35 5.65 29% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P159337 TF-A5114 Effective 27-Sep-2017 27-Sep-2017 27-Nov-2017 31-Mar-2021 31-Mar-2021 P159337 TF-A5297 Effective 27-Sep-2017 27-Sep-2017 27-Nov-2017 29-Oct-2021 29-Oct-2021 Cumulative Disbursements 1/6/2020 Page 5 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Restructuring History Level 2 Approved on 07-Nov-2018 Related Project(s) P167675-Finance for Jobs II Additional Financing 1/6/2020 Page 6 of 6