Public Disclosure Copy

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1 Public Disclosure Authorized LATIN AMERICA AND CARIBBEAN Brazil Agriculture Global Practice IBRD/IDA Specific Investment Loan FY 2012 Seq No: 9 ARCHIVED on 29-Feb-2016 ISR22351 Implementing Agencies: SEDAR Public Disclosure Authorized Key Dates Key Project Dates Bank Approval Date:06-Mar-2012 Planned Mid Term Review Date:26-Oct-2015 Original Closing Date:31-Jan-2019 Project Development Objectives Effectiveness Date:23-Jul-2012 Actual Mid-Term Review Date:26-Oct-2015 Revised Closing Date:31-Jan-2019 Public Disclosure Authorized Project Development Objective (from Project Appraisal Document) The objective of the Project is to promote rural business initiatives and expansion of rural access to water and other complementary infrastructure by supporting the Borrower s Results Management Framework. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Public Disclosure Authorized Name Investments in Rural Economic Inclusion:(Cost $ M) Complementary Rural Infrastructure:(Cost $51.50 M) Project Management, Supervision, Monitoring and Evaluation:(Cost $13.20 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate 2/29/2016 Page 1 of 7

2 Implementation Status and Key Decisions The Pernambuco Rural Economic Inclusion Project was approved by the Bank's Board of Directors on March 6, Over its six-year horizon, the Project is expected to reach 10,500 organized rural producers with Business Plan development assistance and investment resources, which would be leveraged toward additional partnerships (both financial and technical) from the private sector, financial institutions, technical service providers and other public and private institutions. At present, 50 Business Plans (toward an overall goal of 75) are being implemented in value chains such as beekeeping, small ruminants (e.g., goats and sheep), cashews and horticulture, and over 6259 households are currently being connected to potable water (out of a final target of 9450). The Mid Term Review yielded important recommendations for improvement, but noticed the advance towards achieving the PDOs in spight of the difficult fiscal situation experienced by the State of Pernambuco during Next mission is planned for April /29/2016 Page 2 of 7

3 Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Low Low Macroeconomic -- Low Moderate Sector Strategies and Policies -- Low Low Technical Design of Project or Program -- Moderate Moderate Institutional Capacity for Implementation and Sustainability -- Moderate Moderate Fiduciary -- Moderate Substantial Environment and Social -- Low Low Stakeholders -- Low Low 2/29/2016 Page 3 of 7

4 Other Overall -- Moderate Moderate Results Project Development Objective Indicators PHINDPDOTBL Participating RPOs successfully inserted into LPAs. (Text, Custom) Value approved Business Plans PHINDPDOTBL Increased net revenue for participating RPOs. (Percentage, Custom) Value PHINDPDOTBL Number of people in rural areas provided with access to Improved Water Sources under the project (Number, Core) Value Date Jul Jan Jul-2018 Overall Comments Intermediate Results Indicators 2/29/2016 Page 4 of 7

5 PHINDIRITBL PHINDIRITBL PHINDIRITBL PHINDIRITBL RPOs charging user fees for management and maintenance of financed water supply projects. (Percentage, Custom) Value Participating rural producers, including 30% women. (Number, Custom) Value Satisfactory water quality for beneficiary rural households. (Number, Custom) Value Processing time required to complete subproject cycle. (Text, Custom) Value Processing time of initial round of Business Plans 0% 25 20% reduction Date 30-Aug Jul Jan Jul-2018 Overall Comments Data on Financial Performance 2/29/2016 Page 5 of 7

6 Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P IBRD Effective USD % Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P IBRD Effective 06-Mar Jun Jul Jan Jan-2019 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) There are no related projects. 2/29/2016 Page 6 of 7

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