The World Bank Report No: ISR12624 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: 1 Status: ARCHIVED Archive Date: 23-Dec-2013 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 31-Jan-2017 Last Archived ISR Date Effectiveness Date 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 Overall Implementation Progress (IP) Satisfactory Overall Risk Rating Moderate Implementation Status Overview The Second Private Sector Competitiveness and Economic Diversification Project for SDR 8.7 million (US$13.1 million equivalent) Credit was approved on October 31, 2013. The Financing Agreement was signed on November 21, 2013. Since there are no effectiveness conditions from the Government, the project will be become effective soon on receipt of the legal opinion. Page 1 of 6 The World Bank Report No: ISR12624 Locations No Location data has been entered Public Disclosure Copy 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 twice during the project implementation, this indicator will be monitored annually, to Public Disclosure Copy track progress. Female beneficiaries Percentage Value 0.00 30.00 Sub Type Supplemental 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 Page 2 of 6 The World Bank Report No: ISR12624 benefit from streamlined business regulations, SMEs (manager and firm employees) that are able to Public Disclosure Copy access loans with movable collateral, individuals that are covered under thecredit bureau, artisans, hotel establishments benefiting from the tourism sub- component and the small holder farmers benefiting undercommercial horticulture, and LEAP beneficiaries. While official targets are only 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 Comments This is an indicator for component 2. Jobs will be defined as full-time, part time and seasonal workers. This will include jobs created in new foreign and domestic non-textile firms attracted in the industrial estates, jobs Public Disclosure Copy 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 Page 3 of 6 The World Bank Report No: ISR12624 Comments This is an indicator for components 1.and 2. While official targets are only Public Disclosure Copy twice during the project implementation, this indicator will be monitored annually, to track progress. Intermediate Results Indicators 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 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 Public Disclosure Copy 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 Page 4 of 6 The World Bank Report No: ISR12624 Comments This indicator measures the fact that registered lodging operations will be adhering to the Star Grading System of Public Disclosure Copy accommodations that will be rolled out during the project implementation. While an end of year indicator, it will be tracked annually, to track progress Tourism information center established and Yes/No Value No Yes operational 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. Public Disclosure Copy Data on Financial Performance (as of 27-Nov-2013) 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 Not Effective 31-Oct-2013 21-Nov-2013 30-Apr-2019 30-Apr-2019 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed Page 5 of 6 The World Bank Report No: ISR12624 P144933 IDA-53090 Not Effective XDR 8.70 8.70 0.00 0.00 8.70 0.00 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation While the project is still not effective, steady progress is being made towards all the road map established during negotiations. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 6 of 6