Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) Long Term Export Finance (P156252) EUROPE AND CENTRAL ASIA | Turkey | Finance & Markets Global Practice | IBRD/IDA | Investment Project Financing | FY 2017 | Seq No: 1 | ARCHIVED on 30-Jan-2017 | ISR26887 | Implementing Agencies: Key Dates Key Project Dates Bank Approval Date:18-Jul-2016 Effectiveness Date:-- Planned Mid Term Review Date:-- Actual Mid-Term Review Date:-- Original Closing Date:-- Revised Closing Date:31-Jan-2021 Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective (PDO) is to improve access to longer term finance for export oriented small, medium and large enterprises. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name The establishment and operation of a credit facility by Eximbank for the provision of subsidiary-finance to PFIs for the provision of sub-finance to SMEs and LEs to finance the Sub-projects.:(Cost $239.25 M) The establishment and operation of a credit facility by Eximbank for the provision of sub-finance to SMEs to finance the Sub-projects.:(Cost $60.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  --  Satisfactory Overall Implementation Progress (IP)  --  Satisfactory Overall Risk Rating  --  Moderate 1/30/2017 Page 1 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) Implementation Status and Key Decisions The project is not yet effective. The first condition for effectiveness has been fulfilled - adoption of Operational Manual. The second condition for effectiveness is expected to be fulfilled in February, 2017. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Low  --  Low Macroeconomic  Moderate  --  Moderate Sector Strategies and Policies  Moderate  --  Moderate Technical Design of Project or Program  Low  --  Low Institutional Capacity for Implementation and Sustainability  Low  --  Low Fiduciary  Low  --  Low Environment and Social  Low  --  Low Stakeholders  Low  --  Low Other  --  --  -- Overall  Moderate  --  Moderate Results Project Development Objective Indicators PHINDPDOTBL  Ratio of the average maturity of SME sub-financing under the project, over the average maturity of the PFIs? SME portfolio not financed under the project. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.00 -- -- >1 Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDPDOTBL  Ratio of the average maturity of LE sub-financing under the project, over the average maturity of the PFIs? LE portfolio not financed under the project. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 1/30/2017 Page 2 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) Value 1.00 -- -- >1 Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDPDOTBL  Number of SME beneficiaries financed by PFIs under the project (cumulative). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 260.00 Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDPDOTBL  Number of LE beneficiaries financed by PFIs under the project (cumulative). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 30.00 Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDPDOTBL  Volume of Bank support (cumulative, US$ million). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 300.00 Date 25-Jul-2016 -- -- 25-Jul-2020 Overall Comments Intermediate Results Indicators 1/30/2017 Page 3 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) PHINDIRITBL  Number of active PFIs under the project (cumulative). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 6.00 Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDIRITBL  Based on Core Indicator: Volume of Bank Support: Lines of Credit - SME (cumulative, US$ million). (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 180.00 Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDIRITBL  Export multiplier: Ratio of the export growth of SMEs and LEs under the project relative to the export growth of their equivalent sector. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- >1 Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDIRITBL  Percent of SMEs receiving sub-finance by Eximbank that are new exporters. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- 10.00 Date 25-Jul-2016 -- -- 25-Jul-2020 1/30/2017 Page 4 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) PHINDIRITBL  Outstanding export finance portfolio (US$ million). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDIRITBL  Based on Core Indicator: Outstanding SME finance portfolio (US$ million). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDIRITBL  Number of active export finance accounts (not cumulative). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDIRITBL  Based on Core Indicator: Number of active SME finance accounts (not cumulative). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value n/a -- -- n/a Date 25-Jul-2016 -- -- 25-Jul-2020 1/30/2017 Page 5 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) PHINDIRITBL  Based on Core Indicator: Portfolio Quality: Portfolio at risk (%). (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.30 -- -- n/a Date 30-Sep-2015 -- -- 25-Jul-2020 PHINDIRITBL  Based on Core Indicator: Financial Sustainability: Return on Assets (%)(Percentage) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 1.20 -- -- n/a Date 30-Sep-2015 -- -- 25-Jul-2020 PHINDIRITBL  Based on Core Indicator: Financial Sustainability: Return on Equity (%) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 10.40 -- -- n/a Date 30-Sep-2015 -- -- 25-Jul-2020 PHINDIRITBL  Compliance with prudential regulation. (Yes/No, Custom) Baseline Actual (Previous) Actual (Current) End Target Value Y -- -- Y Date 30-Sep-2015 -- -- 25-Jul-2020 1/30/2017 Page 6 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) PHINDIRITBL  Gender: Percent of SME and LE beneficiaries financed under the project with at least 15 percent female participation in their workforce. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- n/a Date 25-Jul-2016 -- -- 25-Jul-2020 PHINDIRITBL  Citizen Engagement: SMEs and LEs that feel project sub-finance reflected their needs. (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- -- n/a Date 25-Jul-2016 -- -- 25-Jul-2020 Overall Comments Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed Not P156252 IBRD-86300 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 P156252 IBRD-86300 26-Jul-2016 24-Oct-2016 -- 31-Jan-2021 31-Jan-2021 Effective Cumulative Disbursements 1/30/2017 Page 7 of 8 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Long Term Export Finance (P156252) Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 1/30/2017 Page 8 of 8 Public Disclosure Copy