Public Disclosure Copy The World Bank Implementation Status & Results Report PE Sierra Rural Development Project (P079165) PE Sierra Rural Development Project (P079165) LATIN AMERICA AND CARIBBEAN | Peru | Agriculture and Rural Development Global Practice | IBRD/IDA | Specific Investment Loan | FY 2007 | Seq No: 17 | ARCHIVED on 26-Apr-2015 | ISR18904 | Implementing Agencies: AGRORURAL Key Dates Key Project Dates Board Approval date:24-Apr-2007 Effectiveness Date:09-Jul-2008 Planned Mid Term Review Date:05-Dec-2010 Actual Mid-Term Review Date:05-Dec-2010 Original Closing Date:31-Dec-2012 Revised Closing Date:30-Jun-2016 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project objective is to improve the assets and economic conditions of approximately 53,600 rural families in the selected areasof Apurimac, Ayacucho, Huancavelica, Junin, Huanuco, and Pasco, and strengthen government capacity to implement an integrated Sierradevelopment strategy. Has the Project Development Objective been changed since Board Approval of the Project Objective? Yes Board Approved Revised Project Development Objective (If project is formally restructured)PHRPDODEL The objective of the Project is to assist the Borrower in improving the assets and economic conditions of rural families in selected areas of the Borrower’s Apurímac, Ayacucho, Huancavelica, Junín, Huánuco and Pasco regions. Components Name C1: Rural Businesses:(Cost $15.61 M) C2: Territorial Development:(Cost $13.58 M) C3: Project Management:(Cost $5.74 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Unsatisfactory  Moderately Unsatisfactory Overall Implementation Progress (IP)  Unsatisfactory  Unsatisfactory Overall Risk Rating  --  Substantial 4/26/2015 Page 1 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report PE Sierra Rural Development Project (P079165) Implementation Status and Key Decisions The ISR records the situation after a support mission in March 2015. After an extended delay since approval of the additional financing, the Project has known some important progress with the selection and contracting of the National Coordinator and Assistant Coordinator (in place since March 1, 2015) and the recently finalized selection of the six regional coordinators, who are expected to start working before the end of April 2015. 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  --  --  Substantial Fiduciary  --  --  Moderate Environment and Social  --  --  Moderate Stakeholders  --  --  Moderate Other  --  --  Substantial Overall  --  --  Substantial Results Project Development Objective Indicators 4/26/2015 Page 2 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report PE Sierra Rural Development Project (P079165) PHINDPDOTBL  Increase in net value of sales of families participating in Rural Business subprojects (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 42.00 -- -- 20.00 Date 31-Dec-2013 31-Dec-2013 31-Dec-2013 30-Jun-2016 PHINDPDOTBL  Value of principal productive assets of 75% of beneficiaries increased by 30% (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 44.00 -- -- 30 Date 31-Dec-2013 31-Dec-2013 31-Dec-2013 30-Jun-2016 PHINDPDOTBL  At EOP, at least 80 percent of subprojects have an index value of objectives achievement over 70 percent (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 80.00 80.00 80.00 Date -- 31-Dec-2013 31-Dec-2013 30-Jun-2016 Overall Comments Intermediate Results Indicators PHINDIRITBL  At least 75 percent of rural business completed are operational two years after their completion date (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value -- -- -- -- Date -- -- -- 30-Jun-2016 4/26/2015 Page 3 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report PE Sierra Rural Development Project (P079165) PHINDIRITBL  At least 1174 business plans implemented (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0 -- -- 1174 Date 30-Oct-2007 31-Dec-2013 31-Dec-2013 30-Jun-2016 PHINDIRITBL  Rural business plans originally supported under the OL receive additional support under the AF (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 140.00 Date 01-Jul-2013 -- -- 30-Jun-2016 PHINDIRITBL  Direct project beneficiaries (Number, Core) Baseline Actual (Previous) Actual (Current) End Target Value 53600.00 52500.00 52500.00 85200.00 Date 30-Jun-2013 30-Jun-2013 30-Jun-2013 30-Jun-2016 PHINDIRITBL  Female beneficiaries (Percentage, Core Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 10600.00 10600.00 10600.00 17400.00 Date 30-Jun-2013 30-Jun-2013 30-Jun-2013 30-Jun-2016 4/26/2015 Page 4 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report PE Sierra Rural Development Project (P079165) PHINDIRITBL  of which from Rural Businesses (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 18600.00 -- -- 35200.00 Date -- -- -- 30-Jun-2016 PHINDIRITBL  of which from community/territorial development (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 35000.00 -- -- 50000.00 Date -- -- -- 30-Jun-2016 PHINDIRITBL  Percent of rural business subprojects that accomplish their disbursement and investment plans according to the timeline establishedin their plans (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 60.00 Date -- -- -- 30-Jun-2016 PHINDIRITBL  of which Rural Businesses (Percentage, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 60.00 Date -- -- -- 30-Jun-2016 4/26/2015 Page 5 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report PE Sierra Rural Development Project (P079165) PHINDIRITBL  Of which Community/Territorial development (Percentage, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 60.00 Date 30-Oct-2007 -- -- 30-Jun-2016 PHINDIRITBL  At least 875 community development subprojects implemented, benefiting at least 35,000 families. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 864 -- -- 1250 Date 30-Jun-2013 31-Dec-2013 31-Dec-2013 30-Jun-2016 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P079165 IBRD-74430 Closed USD 20.00 19.83 0.17 19.83 0.00 100% P079165 IBRD-82460 Effective USD 20.00 20.00 0.00 0.36 19.64 2% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P079165 IBRD-74430 Closed 24-Apr-2007 26-May-2008 09-Jul-2008 31-Dec-2012 30-Jun-2013 P079165 IBRD-82460 Effective 02-Apr-2013 04-Oct-2013 20-Dec-2013 30-Jun-2016 30-Jun-2016 Cumulative Disbursements 4/26/2015 Page 6 of 7 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report PE Sierra Rural Development Project (P079165) Restructuring History Level Approved on 30-Oct-2012 Related Project(s) P127801-PE AF Sierra Rural Development Project 4/26/2015 Page 7 of 7 Public Disclosure Copy