The World Bank Report No: ISR12181 Implementation Status & Results Bosnia and Herzegovina Enhancing SME Access to Finance (P111780) Public Disclosure Copy Operation Name: Enhancing SME Access to Finance (P111780) Project Stage: Implementation Seq.No: 6 Status: ARCHIVED Archive Date: 29-Oct-2013 Country: Bosnia and Herzegovina Approval FY: 2010 Product Line: IBRD/IDA Region: EUROPE AND CENTRAL ASIA Lending Instrument: Financial Intermediary Loan Implementing Agency(ies): State Ministry of Finance and Treasury, Foundation for Sustainable Development - OdRaz, The Republic of Srpska Investment-Development Bank (IRBRS), Federal Ministry of Finance, Ministry of Finance of Republika Srpska Key Dates Board Approval Date 15-Dec-2009 Original Closing Date 31-Jul-2014 Planned Mid Term Review Date Last Archived ISR Date 14-Jan-2013 Effectiveness Date 16-Aug-2010 Revised Closing Date 31-Jul-2016 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to enhance access to finance for small and medium enterprises in Bosnia and Herzegovina in the context of the global financial crisis. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost The Credit Line component 10413521.00 The Project Management and Monitoring Component (FBiH only) 306225.00 Overall Ratings Previous Rating Current Rating Public Disclosure Copy Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status Overview The project became effective on April 18, 2013. Following various required procedural hurdles related to the review of the Participating Financial Institutions (PFIs), the signing of the Subsidiary Financing Agreements with the PFIs, and various administrative issues with the Federation PIU, the project is likely to begin disbursing funds shortly. Based on discussions with the PFIs and the PIUs, there is likely to be significant demand for the SME Credit Line. In addition, there is significant commitment from the PIUs and the government to move forward with the project quickly due to the significant need for financing for SMEs in Bosnia. Page 1 of 4 The World Bank Report No: ISR12181 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 Medium to long term (>12m) credit granted by Percentage Value 0.00 97.00 100.00 the PFIs under the project Date 01-Jun-2010 04-Oct-2013 31-Jul-2016 Comments Number of firms financed Number Value 0.00 97.00 140.00 Date 01-Jun-2011 01-Jun-2016 Comments The total amount of loans disbursed by PFIs Amount(USD) Value 0.00 64930000.00 189000000.00 under the project Date 01-Jun-2010 04-Oct-2013 31-Jul-2016 Comments Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Volume of Bank Support: Lines of Credit - SME Amount(USD) Value 0.00 64930000.00 189000000.00 Date 04-Oct-2013 31-Jul-2016 Comments Number of all loans disbursed to SMEs under Number Value 0.00 105.00 150.00 the credit line Date 01-Jun-2010 04-Oct-2013 31-Jul-2016 Comments Portfolio at Risk - SME Percentage Value 5.90 12.60 0.00 Date 01-Jun-2010 22-Aug-2012 Public Disclosure Copy Comments No end target. This is for WB monitoring only Percentage of project-supported institutions Percentage Value 0.00 2.00 2.00 that are reporting on this indicator Sub Type Supplemental Total Non-performing Loans for this credit line Percentage Value 0.00 0.00 7.00 (volume) Date 01-Jun-2010 24-Aug-2012 31-Jul-2016 Page 2 of 4 The World Bank Report No: ISR12181 Comments NPLs should not exceed the target value of <7%. Outstanding SME Loan Portfolio Amount(USD) Value 515000000.00 544000000.00 0.00 Public Disclosure Copy Date 01-Jun-2010 31-Dec-2011 Comments No end target. This is for WB monitoring only Percentage of project-supported institutions Percentage Value 0.00 100.00 100.00 that are reporting on this indicator Sub Type Supplemental Number of jobs created Number Value 0.00 1120.00 0.00 Date 01-Jun-2010 31-Dec-2012 Comments For WB monitoring purposes. Number of jobs created will not have a target value Return on Assets/Equity Percentage Value 0.09 0.40 0.00 Date 01-Jun-2010 14-May-2012 Comments No end target. This is for WB monitoring only Percentage of project-supported institutions Percentage Value 0.00 100.00 100.00 that are reporting on this indicator Sub Type Supplemental Return on equity Percentage Value 0.80 3.40 0.00 Sub Type Date 01-Jun-2010 14-May-2012 Breakdown Comments No end target. This is for WB monitoring only Data on Financial Performance (as of 24-Sep-2013) Public Disclosure Copy Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P111780 IBRD-78390 Effective 15-Dec-2009 18-Feb-2010 16-Aug-2010 31-Jul-2014 31-Jul-2014 P111780 IBRD-81670 Effective 17-May-2012 24-Jul-2012 18-Apr-2013 31-Jul-2016 31-Jul-2016 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P111780 IBRD-78390 Effective USD 70.00 70.00 0.00 64.64 0.00 92.00 P111780 IBRD-81670 Effective USD 120.00 120.00 0.00 0.29 119.70 0.00 Page 3 of 4 The World Bank Report No: ISR12181 Disbursement Graph Public Disclosure Copy Key Decisions Regarding Implementation All required actions to begin disbursement of the project have been completed. Considering various operational changes that have been introduced, the project implementation will be supervised more closely for the first nine months. Restructuring History Level two Approved on 22-Sep-2011, Level two Approved on 03-Oct-2012 Related Projects P129914-Bosnia and Herzegovina Small and Medium Enterprises ACCESS TO FINANCE Additional Finance Public Disclosure Copy Page 4 of 4