Public Disclosure Authorized MIDDLE EAST AND NORTH AFRICA West Bank and Gaza Finance & Markets Global Practice Special Financing Investment Project Financing FY 2016 Seq No: 4 ARCHIVED on 21-Nov-2017 ISR29815 Implementing Agencies: Palestinian Authority Ministry of Finance, Ministry of Finance and Planning, The Palestinian Liberation Organization (for the Benefit of the Palestinian Authority) Public Disclosure Authorized Key Dates Key Project Dates Bank Approval Date:18-Dec-2015 Planned Mid Term Review Date:26-Nov-2018 Original Closing Date:31-Jan-2021 Project Development Objectives Effectiveness Date:30-Nov-2016 Actual Mid-Term Review Date:-- Revised Closing Date:31-Jan-2021 Public Disclosure Authorized Project Development Objective (from Project Appraisal Document) <p>the SOP development objective (PDO) is to mobilize private investment financing in high potential sectors and generate job opportunities for the West Bank and Gaza.<br /> <br /> The F4J PDO is to test the effectiveness of selected financial interventions.</p> Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Public Disclosure Authorized Name Entrepreneurship Ecosystem Matching Grant:(Cost $1.60 M) Capacity Building and Lessons Learned:(Cost $2.17 M) Project Management Component:(Cost $0.70 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 High 11/21/2017 Page 1 of 6
Implementation Status and Key Decisions Project implementation continues to progress. Disbursements have increased from 11% to 26% since the last ISR. The PIA is staffed and performing well. The Entrepreneurship Ecosystem Matching Grant is the primary financing instrument tested under this project (Component 1). The PIA has progressed in testing this instrument by launching it in the market and awarding the first EE-MG to an early stage fund in support of eight startups. Under the Capacity Building Component (Component 2), work on preparing for the DIB and ICF have progressed well. However on both instruments there are a number of key steps that need to take place over the coming 2-3 months in order to launch the DIB in the market by Q1 2018 and the first mover ICF investment (Gaza solar). Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance High High High Macroeconomic Substantial High High Sector Strategies and Policies Substantial Substantial Substantial Technical Design of Project or Program High Substantial Substantial Institutional Capacity for Implementation and Sustainability Substantial Substantial Substantial Fiduciary Substantial Substantial Substantial Environment and Social Moderate Moderate Low Stakeholders Low Substantial Substantial Other -- -- -- Overall High High High Results Project Development Objective Indicators PHINDPDOTBL Private Capital Mobilized (Amount(USD), Custom) 11/21/2017 Page 2 of 6
PHINDIRITBL Value 0.00 0.00 0.00 6,000,000.00 Date 31-Jan-2016 28-Apr-2017 28-Apr-2017 31-Jan-2021 PHINDPDOTBL Number of Feasibility Studies Completed for Job-Focused Private Investments Pipeline (Number, Custom) Value 0.00 0.00 0.00 5.00 Date 31-Jan-2016 28-Apr-2017 28-Apr-2017 31-Jan-2021 PHINDPDOTBL DIB Taken to Market (Structuring of SPV) (Yes/No, Custom) Value N N N Y Date 31-Jan-2016 28-Apr-2017 28-Apr-2017 31-Dec-2016 Overall Comments Intermediate Results Indicators Number of Investment-Ready Entrepreneurship Initiatives in the Pipeline for the EE-MG (Number, Custom) Value 0.00 0.00 8.00 15.00 11/21/2017 Page 3 of 6
PHINDIRITBL PHINDIRITBL PHINDIRITBL PHINDIRITBL Citizen Engagement: Beneficiaries that feel project investment reflected their needs (%) (Percentage, Custom) Value 0.00 0.00 0.00 85.00 Legal formation of the DIB SPV (Yes/No, Custom) Value N N N Y Date 30-Nov-2016 28-Apr-2017 28-Apr-2017 30-Jun-2017 Number of Briefs/Reports Produced on Lessons Learned from the Project (Number, Custom) Value 0.00 0.00 0.00 4.00 Number of PA Staff Trained (Number, Custom) Value 0.00 0.00 0.00 4.00 Overall Comments 11/21/2017 Page 4 of 6
Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P151089 TF-A1490 Effective USD 5.00 5.00 0.00 1.31 3.69 26% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P151089 TF-A1490 Effective 10-Mar-2016 10-Mar-2016 30-Nov-2016 31-Jan-2021 31-Jan-2021 Cumulative Disbursements Restructuring History Level 2 Approved on 28-Jun-2017 Related Project(s) 11/21/2017 Page 5 of 6
There are no related projects. 11/21/2017 Page 6 of 6