Implementation Status & Results Ghana Ghana - Micro,Small and Medium Enterprise Project (P085006)

Transcription

1 Public Disclosure Authorized Public Disclosure Authorized The World Bank Implementation Status & Results Ghana Ghana - Micro,Small and Medium Enterprise Project (P085006) Operation Name: Ghana - Micro,Small and Medium Enterprise Project Project Stage: Implementation Seq.No: 15 Status: ARCHIVED Archive : 26-Jun-2013 (P085006) Country: Ghana Approval FY: 2006 Product Line: IBRD/IDA Region: AFRICA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Key s Board Approval 05-Jan-2006 Original Closing 31-Dec-2011 Planned Mid Term Review 05-May-2008 Last Archived ISR Effectiveness 02-May-2006 Revised Closing 29-Nov-2013 Actual Mid Term Review 31-May-2010 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project aims to enhance the competitive and employment levels of Ghanaian MSMEs. This will be achieved by: (i) building an integrated market access and trade facilitation infrastructure; (ii) proactively supporting entrepreneurship development; (iii) developing and strengthening, on a sustainable basis, the capacity of local intermediaries to deliver financial and non-financial services to MSMEs, and MSMEs to make productive use of these services; (iv) reducing selected business constraints, including technical barriers to trade, faced by MSMEs; (v) providing an enabling environment (access to finance, trade promotion, and trade facilitation infrastructure) to boost increased investments I the MSME sector; and (vi) enhancing the facilitation, project development, and implementation roles of the Government Has the Project Development Objective been changed since Board Approval of the Project? losure Authorized Public Disclosure Authorized Yes No Component(s) Component Name Component Cost Access to Finance 4.30 Access to Markets, Trade Facilitation and Entrepreneurship Development Business Environment 1.80 Project Implementation, Monitoring and Evaluation 4.50 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating Low Low Implementation Status Overview Page 1 of 7

2 1. Project has been restructured for a second time. The reason for the restructuring is to allow sufficient time for the completion of two (2) key activities which were delayed as a result of tardiness in making decisions. The closing date has been extended for an additional five (5) months, therefore the new closing date is November 29, The issues that were contributing to the delays have now been resolved and the activities (construction of additional drainage system within the Tema Export Processing Zone (TEPZ) and installation of a water pumping system to enhance water supply to enterprises operating in the TEPZ). 2. Under the Access to Finance component, the on-going PCG facility provided to a participating bank will be continued up to project closing. In view of the fact that the program has performed highly satisfactorily, the participating bank has requested for continuation of the scheme. 3. Under the Access to Markets, Entrepreneurship Development and Trade Facilitation component, in addition to the website for Made-in-Ghana goods produced by Ghanaian SMEs ( being operational, the Proactive Trade Information System is complete and the Wide Area Network that will link up twenty four (24) offices of the National Board for Small Scale Industries nationwide will be completed by end June 2013; while the construction of the ICT Park is deemed to be 70% completed, which is behind schedule. the supervising consultants have reviewed the construction firm's program and expect that activity implementation will pick up in order to complete and commission the facility by September 30, Marketing of the facility is in its early stages. 4. The Ministry of Trade & Industry have finally signed the contract for the construction of drains in the Tema EPZ, which upon completion, should mitigate future flooding and consequent destruction of the operations and facilities of enterprises located in the TEPZ. The construction firm is on-site and is scheduled to complete the assignment by September 30, The construction and establishment of the Rural Technology Facilities (3 locations) to assist in making MSMEs in the rural sector competitive is nearly complete. The equipment requires to upgrade the skills of the MSMEs have been delivered and installation will be completed by end June GRATIS Foundation, the government agency charged with th e responsibility of managing the facilities has been involved in the process leading to the start of operations. 6. Over 98% of the Credit funds are now committed and the level of disbursements should see major increases in the next 2 months. 7. Support under the Matching Grant Facility will close in August 2013, when remaining funds are exhausted and supported activities are expected to have been completed. 8. Separate Assessments of the Access to Finance facility and the Business Development Services scheme are underway and are expected to be completed by August 30, Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target Number of newly registered MSMEs Number Value Dec-2008 Number of jobs (project supported MSMEs) Number Value Dec-2008 Page 2 of 7

3 new jobs for 2013 from 2nd phase OF BDS support Volume of bank credit to MSMEs Amount(USD) Value Jul-2010 Total incremental sales revenue (project supported MSMEs) Amount is in Ghana Cedis not US Dollars (US$3 Billion) 20% of Lending to Indigenous businesses. Source Bank of Ghana. will be updated end July Figure being verified Ghana cedis, but numbers being verified US$1 = GHC 2.04 Amount(USD) Value Dec-2008 Amount in Ghana Cedis (USD1 = GHC 1.40) Data being reviewed, to be finalized June 2013 (US$1 = GHC 2.04) Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Number of SMEs utilizing common services of Number Value Community-Based Rural Technology centers 30-Jun-2009 Survey underway RTF under construction Adjusted Return on Assets/Equity Value Dec-2009 of project-supported institutions Portfolio at Risk - SME Value Dec-2009 Dec 2012 update of project-supported institutions No of active loan accounts -SME Number Value Jan-2007 Targeted at least 3 banks Page 3 of 7

4 of project-supported institutions Outstanding SME Loan Portfolio Amount(USD) Value Dec-2008 Amount is in Ghana cedis US $1 = Ghc 1.04 Amount is in Ghana cedis of project-supported institutions Volume of Bank Support: Institutional Amount(USD) Value Development - Microfinance 31-Dec-2009 Number of accreditation institutions to certify Number Value MSME products 01-Jan-2007 Ghana Standards Authority Average official cost to comply with business Amount(USD) Value regulations /cost of business start up 01-Jan-2007 % income/ capita Ranges from Sole prop. -35; Partnership - 75; Limited by guarantee Average number of days to comply with Number Value business regulation/register a business On average, ranges from 3 days to 8 days depending on the type of firm Number of recommended law/amendment/ Number Value regulations/codes enacted 31-Dec additional laws enacted Number of certified MSME products Number Value Dec-2008 dominated by treated bottled water Number of tourist visits to the craft villages Number Value Jan-2008 Page 4 of 7

5 Number of incubatees/incubated companies Number Value graduated from the ICT Park 01-Jan-2007 ICT Park under construction 75 incubatees /3 companies Number of visitors to the information center Number Value Visitors to Ghana Export Trade Info Centre of GEPC and Trade Portal Number of sub-contracts signed in target Number Value sectors 31-Dec-2007 Sub-component completed. Number and percentage of MSMEs assisted Number Value obtaining national or international product 31-Dec-2010 certification/standard Total (cum) number of MSME contract signed Number Value (service/sales contract signed with buyers/ 31-Dec-2009 clients) number of new FI's/product developed Number Value Dec-2009 Sub-component cancelled Number of approved bankable loan proposals Number Value Dec-2009 Volume of Bank Support: Institutional Amount(USD) Value Development - SME 30-May Dec-2011 to be updated July 2013 Institutional development, World Bank Amount(USD) Value financing, On-lending 30-May Dec Dec-2011 IFC unable to sign line of credt facility with local Volume of Bank Support: Lines of Credit - SME Amount(USD) Value May Dec bank signed up with IFC, other deals fell through on 31-Dec-2011 Page 5 of 7

6 Number of days required to register a business is reduced from 82 days to 30 days increase in volume of SME term loans extended by participating banks (LoC) increase in the volume of SME loans extended by participating banks (PCG) account of high transaction fees. Text Value 82 days 3 days 30 days* 30-Jun-2006 will be revised to time to start a business. Time to start a business has been reduced. With the introduction of other improvements number of days required to register a business is on average no more than 3-5 days depending on the kind of business to be established days to start a business* Text Value Jun Jun-2012 No banks have signed under LOC facility as at end Discontinued. Text Value 0% % increase over baseline 31-Dec-2009 Data available at end Jan Data on Financial Performance (as of 12-Jun-2013) Financial Agreement(s) Key s Project Ln/Cr/Tf Status Approval Signing Effectiveness Original Closing Revised Closing P IDA Effective 05-Jan Feb May Dec Nov-2013 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P IDA Effective XDR Disbursement Graph Page 6 of 7

7 Key Decisions Regarding Implementation Project Steering Committee will need to quickly resolve project management challenges within the Project Coordination Unit which have recently arisen. This has come about as a result of the departures of a number of some key staff. Ministry of Communication to ensure "cladding issue" on the construction of the ICT Park is concluded by June 15 to assure there are no further delays. The project's closing date has will be extended until November 29, 2013 to allow for the completion of a select number of activities. The rating on Implementation Progress which had been downgraded as a result of the delays in implementing a couple civil works construction was to be upgraded once the issues causing the delays was resolved Restructuring History Level two Approved on 13-Apr-2011 Related Projects There are no related projects. Page 7 of 7