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: 6 | ARCHIVED on 26-Jul-2020 | ISR42328 | 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: 24-Feb-2020 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 Substantial Implementation Status and Key Decisions In February, the team conducted the mid-term review of the F4J II project, which identified the need for a potential restructuring, which was later re- visited and adjusted in response to the COVID-19 pandemic. While the different components of F4 II have progressed considerably, the emerging COVID-19 crises has impacted project implementation; nevertheless, the overall rating remains Moderately Satisfactory. The evolving situation will likely require adaptive measures in the coming months, but immediate areas of focus for F4J II are to: (i) support critical sectors, such as health and education, under the DIB component by moving forward with training programs for an expected 160 nurses/intern doctors, and (ii) continue to provide grant support to SMEs through the ICF-component in key job-creating sectors (agriculture, ICT, manufacturing). 7/26/2020 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 Substantial Macroeconomic High High High Sector Strategies and Policies Substantial Substantial Moderate Technical Design of Project or Program Substantial Substantial Moderate Institutional Capacity for Implementation and Substantial Substantial Low Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Moderate Stakeholders Substantial Substantial Moderate Other -- -- Substantial Overall High High Substantial Results PDO Indicators by Objectives / Outcomes To test the effectiveness of selected financial interventions in incentivizing private sector invest IN00858658 ►Number of jobs created (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 23.00 175.00 2,200.00 Date 01-Sep-2017 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858659 ►Private Capital Mobilized (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4,580,819.00 22,888,000.00 8,500,000.00 Date 01-Sep-2017 29-Nov-2019 30-Jun-2020 29-Oct-2021 Overall Comments PDO 7/26/2020 Page 2 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Private Capital Mobilized (USD): Combined private capital mobilized under the ICF and DIB components by the end of the reporting period is $ 22,888,000.00. Under the DIB $1.8 million has been mobilized from private investors and the additional $21 million have been mobilized across ICF deals. Number of jobs created 175 jobs were created (GIE Solar project: PWSJV employees, their subcontractors and PRICO, Dalya project, and Massader project EPC contractors). Intermediate Results Indicators by Components Development Impact Bond (DIB) for Skills Development and Employment IN00858660 ►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 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858663 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 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858664 ►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 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858667 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 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858668 ►Number of DIB beneficiaries that complete training programs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 7/26/2020 Page 3 of 6 The World Bank Implementation Status & Results Report Finance for Jobs II (P159337) Value 0.00 0.00 0.00 1,400.00 Date 01-Sep-2017 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858670 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 29-Nov-2019 30-Jun-2020 29-Oct-2021 Investment Co-Financing Facility (ICF) IN00858661 ►Firms benefiting from private sector initiatives (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 2.00 8.00 56.00 Date 01-Sep-2017 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858662 ►Beneficiaries of job-focused interventions (Number, Corporate) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 28.50 175.00 3,400.00 Date 01-Sep-2017 29-Nov-2019 30-Jun-2020 29-Oct-2021 IN00858665 Beneficiaries of job-focused interventions - Youth (Number, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 12.00 90.00 2,130.00 IN00858666 Beneficiaries of job-focused interventions - Female (Number, Corporate Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 6.00 20.00 620.00 IN00858669 ►Beneficiaries that feel project investments reflected their needs (percentage) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 85.70 85.00 Date 01-Sep-2017 13-Dec-2019 30-Jun-2020 29-Oct-2021 Performance-Based Conditions 7/26/2020 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 0.50 1.00 33% 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 PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC 7/26/2020 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 7/26/2020 Page 6 of 6