The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Henan Green Agriculture Fund Project (P169758) EAST ASIA AND PACIFIC | China | Agriculture and Food Global Practice | IBRD/IDA | Investment Project Financing | FY 2020 | Seq No: 2 | ARCHIVED on 29-Dec-2020 | ISR45134 | Implementing Agencies: People’s Republic of China, Henan Agriculture Development Fund Investment Corporation Key Dates Key Project Dates Bank Approval Date: 26-Mar-2020 Effectiveness Date: -- Planned Mid Term Review Date: -- Actual Mid-Term Review Date: Original Closing Date: 31-Dec-2026 Revised Closing Date: 31-Dec-2026 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The proposed objective is to demonstrate the viability of financing green agriculture investments, and foster the innovation and adoption of green agriculture standards and technologies in Henan. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component 1: Green Agriculture Fund:(Cost $285.00 M) Component 2: Technical Assistance and Innovation Challenge:(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 Substantial Substantial Implementation Status and Key Decisions The project is not effective yet. The client is working to meet effectiveness conditions. Risks 12/29/2020 Page 1 of 7 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Low Low Low Macroeconomic Moderate Moderate Moderate Sector Strategies and Policies Moderate Moderate Moderate Technical Design of Project or Program Substantial Substantial Substantial Institutional Capacity for Implementation and Moderate Moderate Moderate Sustainability Fiduciary Substantial Substantial Substantial Environment and Social Substantial Substantial Substantial Stakeholders Moderate Moderate Moderate Other -- -- -- Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes support the transformation of Henan agricultural sector through financing of green investments IN00941812 ►1. Amount of externally leveraged investments in green finance (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 300,000,000.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator measures the amount of funding to be co-invested in the GAF investee enterprises from: (i) Comments: commercial (public and private companies operating on commercial principles); (ii) public such as funds from municipalities, cities, etc.; and (iii) parallel financing (i.e. commercial banks, etc.). IN00941813 ►2. Number of applications of replicable green agriculture technology solutions supported by the project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator measures the number green agriculture technologies from the GTI supported under the Comments: project. One sub-project may support more than one green technology IN00941814 ►3. Reduced GHG emissions from the application of green standards and technologies (MT) (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target 12/29/2020 Page 2 of 7 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) Value 0.00 0.00 0.00 25.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 Comments: This indicator is defined as CO2 equivalent of GHG emissions in MTs. Intermediate Results Indicators by Components Component 1: Green Agriculture Fund IN00941816 ►1.1 Enterprises adopting green agricultural technology (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 60.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 Comments: This indicator measures the number of enterprise sub-projects funded by the GAF. IN00941818 ►1.2 Amount of external capital into sub-fund investments (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30,000,000.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 Comments: This indicator is measured as funding from social capital sources into sub-funds established by the GAF. IN00941819 ►1.3 Average return on assets of the sub-projects weighted by the amount of equity investments (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 >0 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator measures the financial viability of the GAF equity investees. The figure >0 means that investee enterprises are profitable. The weighting by the amounts invested ensures that the calculated Comments: average return is not affected by the size of the investee companies but by the level of exposure of the GAF. IN00941821 ►1.4 Debt portfolio at risk (PAR) as of 90 days late (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 <5 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 12/29/2020 Page 3 of 7 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) This indicator measures the financial viability of debt investments of the GAF. It is expressed as PAR of Comments: 90 days less than 5%. IN00941823 ►1.5 Utilization rate of manure (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 95.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator is measured in percentage as comprehensive utilization rate of livestock and poultry manure as proportion of the amount of livestock and poultry manure used to produce biogas and return the Comments: residue of biogas digester to the fields for use as fertilizers, or composting, or liquid fertilizer, or fuel, or commercial organic fertilizer, or bedding materials, or base materials, etc., of the total amount of livestock and poultry manure. IN00941825 ►1.6 Energy savings from agriculture storage, processing, distribution or logistics (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 15.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 The energy efficiency target of 15% from the baseline when new technology or new process is used to replace old ones. In addition to energy efficiency, the additional eligibility criteria to meet this target Comments: include: (i) Energy efficiency >= 15% or annual GHG emissions reduction is higher than 25,000 tons; (ii) Renewable energy utilization is eligible by default; (iii) Water use efficiency improvement is higher than 10%. IN00941827 ►1.7 Share of investee firms are women-owned/women-led (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 9.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator measures the progress in reducing gender inequality in the access to the GAF investments. Comments: An enterprise qualifies as a woman-owned enterprise if it meets the following criteria: (a) ≥ 51% owned by woman/women; or (b) has ≥ 1 woman as CEO/COO/CFO/CIO/GM/ President/Vice President. IN00941828 ►1.8 Share of investee enterprises that feel sub-project finance reflects their needs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 70.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 Comments: This is citizen engagement indicator and will be measured through enterprise surveys. Component 2: Technical Assistance and Innovation Challenge IN00941815 12/29/2020 Page 4 of 7 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) ►2.1 HADFIC to formulate relevant operational policies and procedures on the environmental and social risk management (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value No No No Yes Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 Comments: This indicator measure the EHS institutional enhancements of the HADFIC. IN00941817 ►2.2 HADFIC staff trained in green investment capacity building programs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator measures the number of HADFIC staff trained in green investment capacity building Comments: programs under the project. It is measured by person time. IN00941820 ►2.3 Number of innovations funded through challenge fund (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 Comments: This indicator measures the total number of innovations funded through challenge fund IN00941822 ►2.4 Number of market studies on alternative sources of funding for GAF (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 Project implementation especially from institutional enhancement would lead towards preparation of entry Comments: into green bond markets. It is measured from Year 4 onwards. IN00941824 ►2.5 Number of agricultural green agriculture standards (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator measures the number of green standards developed under the project related to inputs Comments: quality, green production technologies/solution, evaluation methodology for products food safety and agriculture resource efficiency. IN00941826 12/29/2020 Page 5 of 7 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) ►2.6 Share of female investment professionals in the GAF investment team (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 50.00 0.00 0.00 50.00 Date 31-Dec-2018 15-Jun-2020 15-Jun-2020 31-Dec-2026 This indicator measures level of gender inequality among HADFIC staff and progress in reducing Comments: inequality or maintain current equality. Performance-Based Conditions Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed Not P169758 IBRD-90460 USD 300.00 300.00 0.00 0.00 300.00 0% Effective Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date Not P169758 IBRD-90460 26-Mar-2020 -- -- 31-Dec-2026 31-Dec-2026 Effective Cumulative Disbursements 12/29/2020 Page 6 of 7 The World Bank Implementation Status & Results Report Henan Green Agriculture Fund Project (P169758) PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 12/29/2020 Page 7 of 7