The World Bank Report No: ISR14988 Implementation Status & Results Lesotho Second Private Sector Competitiveness and Economic Diversification Prj (P144933) Public Disclosure Copy Operation Name: Second Private Sector Competitiveness and Economic Project Stage: Implementation Seq.No: 2 Status: ARCHIVED Archive Date: 23-Jun-2014 Diversification Prj (P144933) Country: Lesotho Approval FY: 2014 Product Line: IBRD/IDA Region: AFRICA Lending Instrument: Investment Project Financing Implementing Agency(ies): Ministry of Trade and Industry, Cooperatives and Marketing Key Dates Board Approval Date 31-Oct-2013 Original Closing Date 30-Apr-2019 Planned Mid Term Review Date 01-Nov-2016 Last Archived ISR Date 23-Dec-2013 Effectiveness Date 09-Jan-2014 Revised Closing Date 30-Apr-2019 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The development objective of the proposed project is to contribute to the development of selected non-textile sectors resulting in increased private sector investment, firm growth and job creation. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Improving the Business Environment 3.56 Supporting Economic Diversification 8.95 Project Implementation 2.04 Overall Ratings Public Disclosure Copy Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Satisfactory Overall Risk Rating Moderate Moderate Implementation Status Overview The Second Private Sector Competitiveness and Economic Diversification Project (SPSCEDP) is a US$13.1 million operation which was approved by the World Bank Board on October 31, 2013 and declared effective on January 9, 2014. The Project was officially launched by GoL on February 27, 2014. The Project Preparation Advance has been closed. The signatories for the Project have been submitted to the Bank and withdrawal applications have been submitted and processed under the credit. The first implementation Support mission was conducted in March 2014 and found that the project management was fully staffed and the major procurement activities in all the subcomponents had been initiated and Page 1 of 6 The World Bank Report No: ISR14988 well under way. The project had disbursed US$1.13 million to date. The implementation progress on the various subcomponent is detailed below. As per the suggestion made by the CD, the project helped facilitate a Lesotho Diaspora event in Johannesburg which helped facilitate potential linkages for investments into Lesotho. Public Disclosure Copy Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Direct project beneficiaries Number Value 0.00 75000.00 Date 04-Sep-2013 31-Oct-2018 Comments This is an indicator for components 1 and 2. This will include all the enterprises that benefit from streamlined business regulations, SMEs (manager and firm employees) that are able to access loans with movable collateral, individuals that are covered under the credit bureau, artisans, hotel establishments benefiting from the tourism sub- component and the small holder farmers benefiting under commercial horticulture, and LEAP beneficiaries. While official targets are only Public Disclosure Copy twice during the project implementation, this indicator will be monitored annually, to track progress. Female beneficiaries Percentage Value 0.00 30.00 Sub Type Supplemental Increase in jobs created in selected non-textile Percentage Value 6058.00 40.00 sectors Date 04-Sep-2013 31-Oct-2018 Page 2 of 6 The World Bank Report No: ISR14988 Comments This is an indicator for component 2. Jobs will be defined as full-time, part time and seasonal workers. This Public Disclosure Copy will include jobs created in new foreign and domestic non-textile firms attracted in the industrial estates, jobs created under the horticulture and tourism sub-components. While official targets are only twice during the project implementation, this indicator will be monitored annually, to track progress. Increase in domestic enterprises created/ Percentage Value 11382.00 30.00 registered in non-textile sectors Date 04-Sep-2013 31-Oct-2018 Comments This is an indicator for components 1.and 2. While official targets are only twice during the project implementation, this indicator will be monitored annually, to track progress. Intermediate Results Indicators Public Disclosure Copy Page 3 of 6 The World Bank Report No: ISR14988 Indicator Name Core Unit of Measure Baseline Current End Target Decrease in the number of days required to Days Value 106.00 65.00 obtain a construction permit from the Maseru Date 04-Sep-2013 31-Oct-2018 Public Disclosure Copy City Council. Comments This indicator does not include acquiring a fixed line which is included in the process of receiving a construction permit in the Doing Business indicator methodology. While official targets are only twice during the project implementation, this indicator will be monitored annually, to track progress. Credit Bureau established and operational. Yes/No Value No Yes Date 04-Sep-2013 31-Oct-2018 Comments Increase in non-textile investments in the Percentage Value 418.50 50.00 industrial estates. Date 04-Sep-2013 31-Oct-2018 Comments Baseline figure is in Million Maloti This indicator measures the new foreign as well as domestic investments that come into the industrial estate in the non-textile sectors. Coverage of registered lodging operations Yes/No Value No Yes under the star grading system Date 04-Sep-2013 31-Oct-2018 Public Disclosure Copy Comments This indicator measures the fact that registered lodging operations will be adhering to the Star Grading System of accommodations that will be rolled out during the project implementation. While an end of year Page 4 of 6 The World Bank Report No: ISR14988 indicator, it will be tracked annually, to track progress Tourism information center established and Yes/No Value No Yes operational Public Disclosure Copy Date 04-Sep-2013 31-Oct-2018 Comments Increased incomes of participating farmers. Percentage Value 30.00 Date 31-Oct-2018 Comments Baseline to be determined via survey during project implementation This indicator is measured in real terms and not nominal terms.Will be controlled for inflation. Share of firms supported by LEAP that Percentage Value 30.00 increased sales by greater than 10% after a Date 31-Oct-2018 year of support. Comments This indicator will track the performance of the firms being supported from the date of support. The target values for subsequent years are cumulative. Data on Financial Performance (as of 02-Apr-2014) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P144933 IDA-53090 Effective 31-Oct-2013 21-Nov-2013 09-Jan-2014 30-Apr-2019 30-Apr-2019 Disbursements (in Millions) Public Disclosure Copy Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P144933 IDA-53090 Effective XDR 8.70 8.70 0.00 0.74 7.96 8.00 Disbursement Graph Page 5 of 6 The World Bank Report No: ISR14988 Public Disclosure Copy Key Decisions Regarding Implementation The project is making good implementation progress in its various subcomponents as detailed under each component. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 6 of 6