The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Renewable Energy Fund (P160699) AFRICA | Rwanda | Energy & Extractives Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2017 | Seq No: 6 | ARCHIVED on 07-May-2019 | ISR36284 | Implementing Agencies: Government of Rwanda, Development Bank of Rwanda (BRD) Key Dates Key Project Dates Bank Approval Date: 20-Jun-2017 Effectiveness Date: 03-Nov-2017 Planned Mid Term Review Date: 30-Sep-2019 Actual Mid-Term Review Date: -- Original Closing Date: 30-Sep-2023 Revised Closing Date: 30-Sep-2023 pdoTable Project Development Objectives Project Development Objective (from Project Appraisal Document) The Project Development Objective is to increase electricity access in Rwanda through off-grid technologies and facilitate private-sector participation in renewable off-grid electrification. Has the Project Development Objective been changed since Board Approval of the Project Objective? No Components Table Name Line of Credit and Direct Financing for Off-grid Electrification:(Cost $45.94 M) Technical Assistance, Capacity Building, and Project Implementation Support:(Cost $3.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Unsatisfactory Overall Risk Rating Substantial Substantial Implementation Status and Key Decisions The Renewable Energy Fund (REF) project was approved on June 20, 2017and became effective on November 3, 2017. Four banks and 29 SACCOs have signed subsidiary financing agreements with BRD. Five solar companies have been appraised and approved to work with SACCOs. 5/7/2019 Page 1 of 7 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance Moderate Moderate Moderate Macroeconomic Moderate Moderate Moderate Sector Strategies and Policies Substantial Moderate Moderate Technical Design of Project or Program Substantial Moderate Moderate Institutional Capacity for Implementation and Sustainability Substantial Substantial Substantial Fiduciary Moderate Moderate Moderate Environment and Social Moderate Moderate Moderate Stakeholders Low Low Low Other -- -- -- Overall Substantial Substantial Substantial Results PDO Indicators by Objectives / Outcomes Increase electricity access in Rwanda through off-grid technologies IN00679447 ►People provided with new or improved electricity service (Corporate Results Indicator) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 192.00 1,426.00 1,800,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679448 Of which women (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 20.00 713.00 936,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679449 ►Enterprises provided with access to electricity (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 27,500.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679450 5/7/2019 Page 2 of 7 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) ►Annual electricity output from renewable energy (MWh/year, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 28.10 13,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 Facilitate private-sector participation in renewable off-grid electrification IN00679446 ►Increased private sector investment in renewable energy electrification (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 782.00 41,000,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 Intermediate Results Indicators by Components Line of Credit and Direct Financing for Off-grid Electrification IN00679452 ►Number of districts covered by participating market enablers (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 16.00 19.00 30.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679453 ►Number of participating SACCOs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 29.00 29.00 30.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 Number of SACCOs that have signed the Subsidiary Financing Agreement (SFA) with BRD. Comments: IN00679455 ►Total funding drawdown by SACCOs from the facility (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 670,000.00 670,000.00 20,400,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679456 ►Total funding onlent by SACCOs to households and enterprises (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target 5/7/2019 Page 3 of 7 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) Value 0.00 9,682.00 56,893.00 20,400,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679457 ►Total funding onlent by SACCOs to female applicants (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 10.40 34.00 30.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679458 ►Average NPL ratio of SACCOs portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679459 ►Number of SACCOs trained (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 33.00 33.00 30.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679460 ►Number of participating Banks (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.00 4.00 10.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 Number of banks that have signed the Subsidiary Financing Agreement (SFA) with BRD. Comments: IN00679461 ►Total funding drawdown by Banks from the facility (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 13,000,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679462 ►Total funding onlent by Banks to households and enterprises (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 13,000,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679463 5/7/2019 Page 4 of 7 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) ►Total funding onlent by Banks to female applicants (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 30.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679464 ►Average NPL ratio of Banks portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679465 ►Total funding onlent to mini-grid developers (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5,000,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679466 ►Number of people provided with access to electricity by household connections (mini-grids) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 105,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679467 ►Renewable energy generation capacity in mini-grids constructed under the project (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 1.10 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679468 ►Total funding onlent to off-grid solar companies (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 7,500,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679469 ►Average NPL ratio of off-grid solar companies portfolio (Percentage, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 5/7/2019 Page 5 of 7 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) IN00679470 ►Number of people provided with access to electricity by household connections (off-grid solar) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 192.00 1,426.00 1,695,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679471 ►Renewable energy generation capacity from solar home systems under the project (Megawatt, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.02 6.60 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679472 ►Total financing leveraged by the facility from private and other sources (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 225,000.00 52,000,000.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 Technical Assistance, Capacity Building, and Project Implementation Support IN00679451 ►Number of citizen engagement events (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 5.00 27.00 10.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 IN00679454 ►Number of knowledge sharing events (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 4.00 6.00 10.00 Date 20-Jun-2017 30-Sep-2018 31-Dec-2018 30-Sep-2023 Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P160699 TF-A4969 Effective USD 27.50 27.50 0.00 5.00 22.50 18% 5/7/2019 Page 6 of 7 The World Bank Implementation Status & Results Report Renewable Energy Fund (P160699) P160699 TF-A4990 Effective USD 21.44 21.44 0.00 0.27 21.17 1% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P160699 TF-A4969 Effective 20-Jun-2017 07-Jul-2017 03-Nov-2017 30-Sep-2023 30-Sep-2023 P160699 TF-A4990 Effective 20-Jun-2017 07-Jul-2017 03-Nov-2017 30-Sep-2023 30-Sep-2023 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 5/7/2019 Page 7 of 7