Public Disclosure Copy The World Bank Implementation Status & Results Report Innovative Access to Finance (P147183) Innovative Access to Finance (P147183) EUROPE AND CENTRAL ASIA | Turkey | Financial Inclusion Practice Global Practice | IBRD/IDA | Investment Project Financing | FY 2015 | Seq No: 1 | ARCHIVED on 21-Nov-2014 | ISR17010 | Implementing Agencies: Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) Key Dates Key Project Dates Board Approval date:22-Jul-2014 Effectiveness Date:-- Planned Mid Term Review Date:-- Actual Mid-Term Review Date:-- Original Closing Date:31-Dec-2018 Revised Closing Date:31-Dec-2018 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective (PDO) is to improve access to longer term Islamic finance and to factoring for small and medium enterprises and export oriented enterprises. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name A credit line to TSKB to on-lend/finance intermediation through participation bank and factoring company PFIs to SMEs and EOEs.:(Cost $250.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  --  Satisfactory Overall Implementation Progress (IP)  --  Satisfactory Overall Risk Rating  --  Low Implementation Status and Key Decisions The project is not yet effective. The first condition for effectiveness has been fulfilled - adoption of Operational Manual. The second condition for 12/9/2014 Page 1 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Innovative Access to Finance (P147183) effectiveness is expected to be fulfilled in November, 2014. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  --  Moderate Macroeconomic  --  --  Moderate Sector Strategies and Policies  --  --  Moderate Technical Design of Project or Program  --  --  Low Institutional Capacity for Implementation and Sustainability  --  --  Low Fiduciary  --  --  Low Environment and Social  --  --  Low Stakeholders  --  --  Low Other  --  --  -- Overall  --  --  Low Results Project Development Objective Indicators PHINDPDOTBL  Ratio of the average maturity of Islamic sub-financing under the project, over the average maturity of the Islamic finance PFIs’ portfolio not financed under the project. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1 -- -- >1 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments 12/9/2014 Page 2 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Innovative Access to Finance (P147183) PHINDPDOTBL  Ratio of export factoring sub-financing in the fact. portfolio financed under the project, over the fact. comp. PFIs’ export factoring finance in the factoring portfolio not financed under the project (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1 -- -- >1 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDPDOTBL  Number of SME beneficiaries financed by PFIs under the project (cumulative). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 300.00 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDPDOTBL  Number of EOE beneficiaries financed by PFIs under the project (cumulative). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 30.00 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments Overall Comments Intermediate Results Indicators 12/9/2014 Page 3 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Innovative Access to Finance (P147183) PHINDIRITBL  Number of PFIs under the project (cumulative). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 6.00 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDIRITBL  Volume of Bank support (cumulative, US$ million). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 250.00 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDIRITBL  Based on Core Indicator: Volume of Bank Support: Lines of Credit - SME (cumulative, US$ million). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 150.00 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDIRITBL  Outstanding export finance portfolio (US$ million). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 01-Aug-2014 -- -- 31-Jul-2018 Comments 12/9/2014 Page 4 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Innovative Access to Finance (P147183) PHINDIRITBL  Based on Core Indicator: Outstanding SME finance portfolio (US$ million). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDIRITBL  Number of active export finance accounts (not cumulative). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDIRITBL  Based on Core Indicator: Number of active SME finance accounts (not cumulative). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDIRITBL  Based on Core Indicator: Portfolio Quality: Portfolio at risk (%). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.4 -- -- n/a Date 31-Dec-2013 -- -- 31-Jul-2018 Comments 12/9/2014 Page 5 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Innovative Access to Finance (P147183) PHINDIRITBL  Based on Core Indicator: Financial Sustainability: Return on Assets (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 2.8 -- -- n/a Date 31-Dec-2013 -- -- 31-Jul-2018 Comments PHINDIRITBL  Based on Core Indicator: Financial Sustainability: Return on Equity (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 17.9 -- -- n/a Date 31-Dec-2013 -- -- 31-Jul-2018 Comments PHINDIRITBL  Percent of SME sub-finance financing SME Sub-projects in priority regions. (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 15.00 Date 01-Aug-2014 -- -- 31-Jul-2018 Comments PHINDIRITBL  Compliance with prudential regulation. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value Y -- -- Y Date 01-Aug-2014 -- -- 31-Jul-2018 Comments Overall Comments 12/9/2014 Page 6 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Innovative Access to Finance (P147183) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed Not P147183 IBRD-84090 USD 250.00 250.00 0.00 0.00 250.00 0% Effective Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date Not P147183 IBRD-84090 22-Jul-2014 22-Aug-2014 -- 31-Dec-2018 31-Dec-2018 Effective Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/9/2014 Page 7 of 7 Public Disclosure Copy