The World Bank Implementation Status & Results Report Ethiopia Women Entrepreneurship Development Project (P122764) Ethiopia Women Entrepreneurship Development Project (P122764) AFRICA EAST | Ethiopia | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2012 | Seq No: 17 | ARCHIVED on 21-Nov-2020 | ISR44314 | Implementing Agencies: Ministry of Finance, Development Bank of Ethiopia (DBE), Federal Urban Job Creation and Food Security Agency (FUJCFSA) Key Dates Key Project Dates Bank Approval Date: 24-May-2012 Effectiveness Date: 05-Oct-2012 Planned Mid Term Review Date: 30-Sep-2015 Actual Mid-Term Review Date: 12-Oct-2015 Original Closing Date: 31-Dec-2017 Revised Closing Date: 31-Dec-2021 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective of the WEDP is to increase the earnings and employment of MSEs owned or partly owned by the participating female entrepreneurs in the targeted cities. This will be achieved by: i) tailoring financial instruments to the needs of the participants and ensuring availability of finance; and ii) developing the entrepreneurial and technical skills of the target group and supporting cluster, technology and product development for their businesses. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Component 1: Access to Microfinance:(Cost $108.20 M) Component 2: Entrepreneurial skills, Technology and Cluster Development.:(Cost $6.10 M) Component 3: Project Management, Advocacy and Outreach, Monitoring Evaluation and Impact Evaluation.:(Cost $1.50 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Highly Satisfactory Highly Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status and Key Decisions WEDP has made strong progress since inception and has exceeded most of its initial objectives and targets. The project was able to ‘crowd in’ several rounds of co-financing from Canada, Japan, Italy, and the European Investment Bank for a total disbursement of $144 million after disbursing nearly all of its initial $50 million IDA allocation. As of October 2020, 16,181 business owners have been able to access loans (as compared to end of project target of 10,000) and 22,158 have completed business training (as compared to end of project target of 20,000). In addition to overachieving targets for disbursements of loans and delivery of business trainings, strong gains have also been made against the PDO indicators of increasing incomes and employment of women-owned firms. WEDP clients have grown incomes by 67% (compared to end of project 11/21/2020 Page 1 of 7 The World Bank Implementation Status & Results Report Ethiopia Women Entrepreneurship Development Project (P122764) target of 50%) and employment in their firms by 58% (compared to end of project target of 30%). The significant gains made by WEDP since inception have been put at risk due to the Covid pandemic. With the aim of helping WEDP clients weather the Covid pandemic, the World Bank is processing an additional financing of $100 million for WEDP. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Substantial High Macroeconomic -- Moderate Substantial Sector Strategies and Policies -- Moderate Moderate Technical Design of Project or Program -- Low Low Institutional Capacity for Implementation and -- Moderate Moderate Sustainability Fiduciary -- Moderate Moderate Environment and Social -- Moderate Moderate Stakeholders -- Moderate Moderate Other -- Low Low Overall -- Moderate Moderate Results PDO Indicators by Objectives / Outcomes To increase the earnings and employment of MSEs owned or partly owned by female entrepreneurs IN00918561 ►Increase in average numbers of full-time and part-time employees (paid and unpaid) per MSE (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.86 2.95 2.95 2.42 Date 31-Oct-2012 17-Apr-2020 17-Apr-2020 31-Dec-2017 IN00918562 ►Increase in number of hours of worked for the Micro and Small Enterprise (MSE) per week (paid and unpaid) (Hours, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 179.00 275.00 275.00 232.00 11/21/2020 Page 2 of 7 The World Bank Implementation Status & Results Report Ethiopia Women Entrepreneurship Development Project (P122764) Date 31-Oct-2012 17-Apr-2020 17-Apr-2020 31-Dec-2017 IN00918563 ►Increase in yearly average business earnings (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 2,414.00 4,053.00 4,053.00 3,621.00 Date 31-Oct-2012 17-Apr-2020 17-Apr-2020 31-Dec-2017 Intermediate Results Indicators by Components Component 1: Access to Microfinance IN00918565 ►Direct project beneficiaries (Microfinance) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 14,244.00 16,181.00 10,000.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2019 IN00918567 ►Intermediate Number of One Stop Shops (OSS), Microfinance Institutions (MFI) and Technical Vocational Education and Training (TVET) colleges reporting according to the WEDP Monitoring and Evaluation ( (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 72.00 76.00 68.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2017 IN00918569 ►Data collection and reporting (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 49 OSSs + 12 MFIs + 11 53 OSSs + 12 MFIs + Value 0.00 45 OSSs + 8 MFIs TVET 11 TVET Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2019 IN00918571 ►Number of MFIs that have adopted and implemented institution development plans and project-related credit technologies (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 12.00 12.00 8.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2017 IN00918572 ►Portfolio at Risk - SME (Percentage, Custom) 11/21/2020 Page 3 of 7 The World Bank Implementation Status & Results Report Ethiopia Women Entrepreneurship Development Project (P122764) Baseline Actual (Previous) Actual (Current) End Target Value 5.10 3.39 6.00 3.00 Date 31-Oct-2012 17-Apr-2020 30-Sep-2020 31-Dec-2019 IN00918575 Percentage of project-supported institutions that are reporting on this indicator (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 100.00 100.00 100.00 100.00 IN00918576 ►Percentage of loan officers trained by Project (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 53.00 57.00 20.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2017 IN00918577 ►No of active loan accounts -SME (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 14,244.00 16,181.00 10,000.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2019 IN00918578 Percentage of project-supported institutions that are reporting on this indicator (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 100.00 IN00918579 ►Volume of Bank Support: Institutional Development - SME (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 3,600,000.00 3,600,000.00 3,600,000.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2017 IN00918580 ►Volume of Bank Support: Lines of Credit - Microfinance (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 119,708,000.00 144,011,000.00 111,700,000.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2019 Component 2: Entrepreneurial skills, Technology and Cluster Development. 11/21/2020 Page 4 of 7 The World Bank Implementation Status & Results Report Ethiopia Women Entrepreneurship Development Project (P122764) IN00918564 ►Establish a Women Entrepreneurship Development Training Program with fully operative modules (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 11.00 11.00 11.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2017 IN00918566 ►Fully staffed, trained and well-functioning OSS (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 49.00 53.00 45.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2017 IN00918568 ►Percentage of trainees passing the institutional end-of-training competency test at the TVET colleges (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 97.62 98.00 80.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2017 IN00918570 ►Direct project beneficiaries (Training) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 21,258.00 22,158.00 20,000.00 Date 31-Oct-2012 17-Apr-2020 30-Oct-2020 31-Dec-2019 IN00918573 Female beneficiaries (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 100.00 100.00 100.00 IN00918574 ►Increase in General Business Knowledge (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 64.25 67.00 79.00 Date 01-Nov-2014 17-Apr-2020 30-Oct-2020 31-Dec-2017 Performance-Based Conditions 11/21/2020 Page 5 of 7 The World Bank Implementation Status & Results Report Ethiopia Women Entrepreneurship Development Project (P122764) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P122764 IDA-51120 Effective USD 50.00 50.00 0.00 47.14 0.60 99% P122764 TF-16392 Closed USD 5.17 5.17 0.00 5.17 0.00 100% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P122764 IDA-51120 Effective 24-May-2012 12-Jun-2012 05-Oct-2012 31-Dec-2017 31-Dec-2021 P122764 TF-16392 Closed 23-Apr-2014 23-Apr-2014 23-Apr-2014 31-Dec-2017 31-Dec-2017 Cumulative Disbursements PBC Disbursement Achievement Disbursed amount in Disbursement % PBC ID PBC Type Description Coc PBC Amount Status Coc for PBC 11/21/2020 Page 6 of 7 The World Bank Implementation Status & Results Report Ethiopia Women Entrepreneurship Development Project (P122764) Restructuring History Level Approved on 09-Jun-2016 ,Level Approved on 03-May-2017 ,Level 2 Approved on 18-Jul-2017 ,Level 2 Approved on 30-Oct-2019 Related Project(s) P173160-Ethiopia Women Entrepreneurship Development Project ,P174623-ET- Women Entrepreneurship Development Project AF ,P174874- ETHIOPIA WOMEN ENTREPRENEURSHIP DEVELOPMENT PROJECT ADDITIONAL FINANCING 11/21/2020 Page 7 of 7