Public Disclosure Copy The World Bank Implementation Status & Results Report Strengthening the Regulatory and Institutional Framework for MSME Deve (P147875) Strengthening the Regulatory and Institutional Framework for MSME Deve (P147875) MIDDLE EAST AND NORTH AFRICA | Jordan | Finance, Competitiveness and Innovation Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2014 | Seq No: 6 | ARCHIVED on 15-Mar-2018 | ISR30967 | Implementing Agencies: Government of Jordan, Central Bank of Jordan Key Dates Key Project Dates Bank Approval Date:24-Jan-2014 Effectiveness Date:04-Mar-2014 Original Closing Date:31-Aug-2018 Revised Closing Date:31-Aug-2018 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective (PDO) would be to enhance financial services and products and to strengthen financial protection mechanism for MSMEs, while enhancing governance. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Satisfactory  Satisfactory Overall Implementation Progress (IP)  Moderately Satisfactory  Satisfactory Implementation Status and Key Decisions The project achieved substantial progress, as follows: 1 . Establishing a consumer protection department, developing Consumer Protection Strategy, hiring and training staff, developing the Onsite and Offsite Operational Manual, setting an online system for Complaints handling on the CBJ website and drafting the Dispute Resolution Law. 2 . Technical assistance to Jordan Loan Guarantee Corporation (JLGC), to strengthen its core internal capabilities. This included: (i) developing the overall risk management policy, (ii) tools and strategy which is currently being implemented, (iii) developing the marketing strategy and 3/15/2018 Page 1 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Strengthening the Regulatory and Institutional Framework for MSME Deve (P147875) communication tools and (iv) hiring a new advisor for product and business development, to launch new products and revamp the existing ones. 3 . Establishing the Microfinance Department at CBJ and hiring staff including the Head of the department. As well as conducting a comprehensive Non-Bank Financial Institutions(NBFIs) market study, to assist CBJ in adopting a more comprehensive approach of regulating and supervising NBFIs. 4 . Hiring a competent Insurance resident advisor, to ensure transferring the regulatory function of Insurance to the CBJ hiring staff for the insurance unit. 5 . Reviewing the draft insurance law, to ensure following international good practices by World Bank Global Team. Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall  Low  Low  Low Results Project Development Objective Indicators PHINDPDOTBL Number of microfinance loans after bringing the MFIs under the umbrella of CBJ (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 80,250.00 91,222.00 1,500.00 Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 PHINDPDOTBL Number of SME loans guaranteed by JLGC (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 3,000.00 7,675.00 8,000.00 4,500.00 Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2014 PHINDPDOTBL Number of complaints resolved to the satisfaction of the consumer by the Consumer Protection Unit at CBJ within [30] days. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target 3/15/2018 Page 2 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Strengthening the Regulatory and Institutional Framework for MSME Deve (P147875) Value 0.00 417.00 642.00 600.00 Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 Overall Comments Intermediate Results Indicators PHINDIRITBL Value of guarantees issued (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 49,000,000.00 72,000,000.00 85,000,000.00 69,000,000.00 Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 PHINDIRITBL Guaranteed loans by JLGC to women-owned SMEs (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 5.00 9.00 9.50 11.00 Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 PHINDIRITBL Consumer Protection Unit at CBJ fully staffed and operational (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N N Y Y Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 3/15/2018 Page 3 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Strengthening the Regulatory and Institutional Framework for MSME Deve (P147875) PHINDIRITBL Completion of the necessary training programs for the staff in the Consumer Protection Unit (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 8.00 5.00 Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 PHINDIRITBL Number of public awareness campaigns and financial literacy programs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 1.00 2.00 3.00 Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 PHINDIRITBL Microfinance Division at CBJ fully staffed and operational (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value N Y Y Y Date 31-Jan-2014 31-Aug-2016 01-Feb-2018 31-Aug-2018 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P147875 TF-16588 Effective USD 3.00 3.00 0.00 1.72 1.28 57% Key Dates (by loan) 3/15/2018 Page 4 of 5 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Strengthening the Regulatory and Institutional Framework for MSME Deve (P147875) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P147875 TF-16588 Effective 09-Feb-2014 09-Feb-2014 04-Mar-2014 31-Aug-2018 31-Aug-2018 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 3/15/2018 Page 5 of 5 Public Disclosure Copy