Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) MNA Micro, Small and Medium Enterprise Financing Facility (P124341) MIDDLE EAST AND NORTH AFRICA | Tunisia | Finance & Markets Global Practice | IBRD/IDA | Adaptable Program Loan | FY 2012 | Seq No: 11 | ARCHIVED on 05-Feb-2017 | ISR26793 | Implementing Agencies: Key Dates Key Project Dates Bank Approval Date:14-Jul-2011 Effectiveness Date:04-Apr-2012 Planned Mid Term Review Date:31-Mar-2016 Actual Mid-Term Review Date:23-May-2016 Original Closing Date:31-Jan-2017 Revised Closing Date:31-Jan-2018 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to improve access to finance for micro, small and medium enterprises in Tunisia, including through enabling creditworthy MSMEs to maintain access to credit. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Lines of Credit:(Cost $134.87 M) Patient financing:(Cost $15.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Overall Risk Rating  Moderate  Moderate 2/5/2017 Page 1 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) Implementation Status and Key Decisions The Additional Financing of EUR 72.6 million was approved by the Bank's Board of Executive Directors on April 17, 2014, and was ratified by the National Assembly on September 17, 2014. The Loan has been declared effective on February 11, 2015. The Additional Financing is disbursing satisfactorily. 2/5/2017 Page 2 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) 2/5/2017 Page 3 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) 2/5/2017 Page 4 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Low  Low Macroeconomic  --  Moderate  Moderate Sector Strategies and Policies  --  Moderate  Moderate Technical Design of Project or Program  --  Low  Low Institutional Capacity for Implementation and Sustainability  --  Moderate  Moderate Fiduciary  --  Moderate  Moderate Environment and Social  --  Low  Low Stakeholders  --  Moderate  Moderate Other  --  --  -- Overall  --  Moderate  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Increase in total no. of MSME loans in PFI portfolios (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -5.90 -5.90 13.00 Date 31-Dec-2011 31-Dec-2015 31-Dec-2015 31-Jan-2018 PHINDPDOTBL  Increase in the total volume of outstanding MSME portfolio of PFIs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -6.10 -6.10 25.00 Date 31-Dec-2011 31-Dec-2015 31-Dec-2015 31-Jan-2018 2/5/2017 Page 5 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) Overall Comments Results will be updated following receipt of upcoming IFR. Intermediate Results Indicators PHINDIRITBL  No. of MSME loans financed by the Line of Credit (sub-component 1.1) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 330.00 330.00 379.00 Date 31-Dec-2011 30-May-2016 30-May-2016 31-Jan-2018 Comments Result to be updated following receipt of upcoming IFR. PHINDIRITBL  Volume of MSME loans financed by the Line of Credit (sub-component 1.1) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 61.08 61.08 110.00 Date 31-Dec-2011 30-May-2016 30-May-2016 31-Jan-2018 Comments Result will be updated following receipt of upcoming IFR. PHINDIRITBL  Volume of financing from the Line of Credit to PFIs (sub-component 1.1) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 65.71 83.60 110.00 Date 31-Dec-2011 30-May-2016 19-Dec-2016 31-Jan-2018 Comments Update based on component disbursement ratio 2/5/2017 Page 6 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) PHINDIRITBL  No. of participating PFIs (sub-component 1.1) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 11.00 9.00 9.00 Date 31-Dec-2011 30-May-2016 30-Dec-2016 31-Jan-2018 Comments 2 banks (Attijari and BIAT) were dropped out of PFI status as they have not used their financing allocations since July and December 2015 respectively PHINDIRITBL  No. of active MSME loan accounts in PFIs (sub-component 1.1) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 103,130.00 72,337.00 72,337.00 125,000.00 Date 31-Dec-2011 31-Dec-2015 31-Dec-2015 31-Jan-2018 Comments Result will be updated following receipt of upcoming IFR. 2/5/2017 Page 7 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) PHINDIRITBL  Volume of outstanding MSME loans in PFIs (sub-component 1.1) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 3.36 4.20 4.20 4.00 Date 31-Dec-2011 31-Dec-2014 31-Dec-2014 31-Jan-2018 Comments This indicator should be discussed / reviewed with the authorities during next supervision mission PHINDIRITBL  Loans to women-led SME (sub-component 1.1) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 12.00 10.00 10.00 13.00 Date 31-Dec-2013 30-May-2016 30-May-2016 31-Jan-2018 Comments Results will be updated following receipt of upcoming IFR. PHINDIRITBL  Micro-finance loans financed by the Line of Credit (sub-component 1.2) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5,271.00 6,449.00 10,000.00 Date 31-Dec-2013 30-May-2016 31-Dec-2016 31-Jan-2018 2/5/2017 Page 8 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) PHINDIRITBL  Volume of micro-finance loans from the Line of Credit (sub-component 1.2) (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6,270,000.00 18,010,900.00 25,000,000.00 Date 31-Dec-2013 30-May-2016 31-Dec-2016 31-Jan-2018 PHINDIRITBL  Micro-finance loans to women financed by the Line of Credit (sub-component 1.2) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 50.00 55.00 53.00 60.00 Date 31-Dec-2013 30-May-2016 31-Dec-2016 31-Jan-2018 PHINDIRITBL  Patient financing operations financed under component 2 (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1.00 5.00 15.00 Date 31-Dec-2013 30-May-2016 31-Dec-2016 31-Jan-2018 PHINDIRITBL  Volume of patient financing operations funded under component 2 (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 490,000.00 4,996,500.00 15,000,000.00 Date 31-Dec-2013 30-May-2016 19-Dec-2016 31-Jan-2018 2/5/2017 Page 9 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) PHINDIRITBL  Portfolio at Risk >90 days for MSMEs (weighted by asset size) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 21.60 27.20 27.20 21.60 Date 31-Dec-2011 31-Dec-2015 31-Dec-2015 31-Jan-2018 Comments Result will be updated following receipt of upcoming IFR. PHINDIRITBL  Portfolio at Risk - Microfinance (Percentage, Core) Baseline Actual (Previous) Actual (Current) End Target Value 3.00 1.59 1.59 3.00 Date 31-Dec-2013 30-May-2016 30-May-2016 31-Jan-2018 Comments Result will be updated following receipt of upcoming IFR. PHINDIRITBL  Percentage of project-supported institutions that are reporting on this indicator (Percentage, Core Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 25.00 100.00 100.00 50.00 2/5/2017 Page 10 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) PHINDIRITBL  ROA of PFIs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.20 1.10 1.10 1.20 Date 31-Dec-2011 31-Dec-2014 31-Dec-2014 31-Jan-2018 Comments Results will be updated following receipt of upcoming IFR. Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P124341 IBRD-80810 Effective USD 50.00 50.00 0.00 45.32 0.00 91% P124341 IBRD-83600 Effective USD 100.00 100.00 0.00 58.08 27.59 58% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P124341 IBRD-80810 Effective 14-Jul-2011 07-Sep-2011 04-Apr-2012 31-Jan-2017 31-Jan-2017 P124341 IBRD-83600 Effective 17-Apr-2014 22-May-2014 11-Feb-2015 31-Jan-2018 31-Jan-2018 Cumulative Disbursements 2/5/2017 Page 11 of 12 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report MNA Micro, Small and Medium Enterprise Financing Facility (P124341) Restructuring History There has been no restructuring to date. Related Project(s) P146799-TN-MSME Development Project Additional Financing 2/5/2017 Page 12 of 12 Public Disclosure Copy