Micro, Small and Medium Enterprise Project

Abstract*

The Micro, Small and Medium Enterprise (MSME) Project in Nigeria aims to increase the performance and employment levels of MSMEs in selected non-oil industry sub-sectors and in three targeted states of the country. To achieve this, the project in Nigeria will: (i) develop and strengthen the capacity of local intermediaries to deliver financial and non-financial services to MSMEs; (ii) reduce selected investment climate barriers that constrain MSME... Show More

Development Objective

Increase the performance and employment levels of MSMEs in selected non-oil industry sub-sectors and in pilot areas of the country. To achieve this, the project in Nigeria will: (i) develop and strengthen the capacity of local intermediaries to deliver financial and non-financial services to MSMEs; (ii) reduce selected investment climate barriers that constrain MSME performance; (iii) mobilize, via (i) and (ii), increased private investments in MSMEs and intermediaries.

Key Details

Project Details

Project ID
P083082
Status
Closed
Team Leader
Ismail Radwan
Borrower 2
N/A

Country
Nigeria
Disclosure Date
July 14, 2003
Approval Date
(as of board presentation)
December 16, 2003
Effective Date
December 13, 2004

Total Project Cost 1
US$ 60.00 million
Implementing Agency
N/A
Region
Western and Central Africa
Fiscal Year 3
2004

Commitment Amount
US$ 32.00 million
Environmental Category
C
Last Update Date
January 15, 2013
Closing Date
December 31, 2011

Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Infrastructure and Access13%
- FY17 - MSME Finance13%

FY17 - Private Sector Development

FY17 - Business Enabling Environment38%
- FY17 - Investment and Business Climate13%
- FY17 - Regulation and Competition Policy25%
FY17 - Enterprise Development13%
- FY17 - MSME Development13%
FY17 - Jobs100%

FY17 - Public Sector Management

FY17 - Rule of Law37%
- FY17 - Judicial and other Dispute Resolution Mechanisms13%
- FY17 - Legal Institutions for a Market Economy24%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	32.00
Local Sources of Borrowing Country	24.60
Borrower/Recipient	1.90
International Finance Corporation (IFC)	1.50

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	32.00
IBRD + IDA Commitment	32.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	60.00

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

No data available.

Detailed Financial Activity as of February 28, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Mar 15, 2019	IDA-38390	Int Charges	99,599.13
Mar 15, 2019	IDA-38390	Int Charges	99,599.13
Sep 15, 2018	IDA-38390	Loan Repay	382,242.88
Sep 15, 2018	IDA-38390	Int Charges	101,523.65
Sep 15, 2018	IDA-38390	Int Charges	101,523.65
Sep 15, 2020	IDA-38390	Loan Repay	384,913.00
Sep 15, 2020	IDA-38390	Int Charges	88,039.03
Sep 15, 2020	IDA-38390	Int Charges	88,039.03
Sep 15, 2020	IDA-38390	Loan Repay	1,128.59
Mar 15, 2014	IDA-38390	Int Charges	1,681.83
Mar 15, 2014	IDA-38390	Int Charges	1,681.83
Mar 15, 2014	IDA-38390	Loan Repay	422,614.50
Mar 15, 2014	IDA-38390	Int Charges	120,924.75
Sep 15, 2013	IDA-38390	Int Charges	2,772.86
Sep 15, 2013	IDA-38390	Int Charges	2,772.86
Sep 15, 2013	IDA-38390	Int Charges	119,760.38
Mar 15, 2018	IDA-38390	Int Charges	99,723.19
Sep 15, 2017	IDA-38390	Loan Repay	387,418.40
Sep 15, 2017	IDA-38390	Int Charges	94,641.32
Sep 15, 2017	IDA-38390	Int Charges	94,641.32
Sep 15, 2017	IDA-38390	Loan Repay	577.04
Mar 15, 2019	IDA-38390	Int Charges	246.68
Mar 15, 2019	IDA-38390	Int Charges	246.68
Mar 15, 2019	IDA-38390	Loan Repay	379,425.16
Sep 15, 2013	IDA-38390	Int Charges	119,760.38
Mar 15, 2015	IDA-38390	Loan Repay	16,183.40
Mar 15, 2015	IDA-38390	Loan Repay	357,396.53
Mar 15, 2015	IDA-38390	Int Charges	109,272.11
Mar 15, 2015	IDA-38390	Int Charges	109,272.11
Sep 15, 2014	IDA-38390	Loan Repay	408,686.78
Sep 15, 2014	IDA-38390	Int Charges	121,073.47
Sep 15, 2014	IDA-38390	Int Charges	121,073.47
Sep 15, 2014	IDA-38390	Int Charges	5,666.45
Sep 15, 2014	IDA-38390	Int Charges	5,666.45
Mar 15, 2014	IDA-38390	Int Charges	120,924.75
Mar 15, 2016	IDA-38390	Loan Repay	379,801.22
Mar 15, 2016	IDA-38390	Int Charges	104,642.45
Mar 15, 2016	IDA-38390	Int Charges	104,642.45
Mar 15, 2016	IDA-38390	Int Charges	4,469.60
Mar 15, 2016	IDA-38390	Int Charges	4,469.60
Sep 15, 2015	IDA-38390	Loan Repay	19,945.80
Sep 15, 2015	IDA-38390	Loan Repay	364,422.62
Sep 15, 2015	IDA-38390	Int Charges	106,463.06
Sep 15, 2015	IDA-38390	Int Charges	106,463.06
Mar 15, 2017	IDA-38390	Int Charges	2,166.18
Mar 15, 2017	IDA-38390	Int Charges	2,166.18
Dec 16, 2003	IDA-38390	Loan Commitment	32,000,000.00
Mar 15, 2024	IDA-38390	Int Charges	-0.01
Mar 15, 2024	IDA-38390	Int Charges	-0.01
Mar 15, 2024	IDA-38390	Loan Repay	0.01
Mar 15, 2024	IDA-38390	Loan Repay	11,983.95
Mar 28, 2024	IDA-38390	Int Charges	81,144.31
Mar 28, 2024	IDA-38390	Int Charges	81,144.31
Mar 28, 2024	IDA-38390	Loan Repay	709,372.40
Sep 15, 2023	IDA-38390	Int Charges	82,203.15
Sep 15, 2023	IDA-38390	Int Charges	82,203.15
Mar 15, 2020	IDA-38390	Loan Repay	371,586.90
Mar 15, 2020	IDA-38390	Int Charges	95,766.68
Mar 15, 2020	IDA-38390	Int Charges	95,766.68
Mar 15, 2020	IDA-38390	Loan Repay	3,968.70
Sep 15, 2019	IDA-38390	Loan Repay	1,018.88
Sep 15, 2019	IDA-38390	Loan Repay	373,176.90
Sep 15, 2019	IDA-38390	Int Charges	96,823.15
Sep 15, 2019	IDA-38390	Int Charges	96,823.15
Mar 15, 2022	IDA-38390	Int Charges	465.52
Mar 15, 2022	IDA-38390	Loan Repay	375,874.44
Mar 15, 2022	IDA-38390	Int Charges	90,209.84
Mar 15, 2022	IDA-38390	Int Charges	90,209.84
Sep 15, 2021	IDA-38390	Int Charges	94,238.09
Sep 15, 2021	IDA-38390	Int Charges	94,238.09
Sep 15, 2021	IDA-38390	Loan Repay	4,127.54
Sep 15, 2021	IDA-38390	Loan Repay	384,464.70
Mar 15, 2021	IDA-38390	Loan Repay	389,268.06
Mar 15, 2021	IDA-38390	Int Charges	96,343.81
Mar 15, 2021	IDA-38390	Int Charges	96,343.81
Mar 15, 2021	IDA-38390	Int Charges	9,028.75
Mar 15, 2021	IDA-38390	Int Charges	9,028.75
Mar 15, 2023	IDA-38390	Loan Repay	4,851.15
Mar 15, 2023	IDA-38390	Loan Repay	357,918.53
Mar 15, 2023	IDA-38390	Int Charges	84,343.93
Mar 15, 2023	IDA-38390	Int Charges	84,343.93
Sep 15, 2023	IDA-38390	Loan Repay	5,766.76
Sep 15, 2023	IDA-38390	Loan Repay	353,591.12
Sep 15, 2022	IDA-38390	Int Charges	83,365.45
Sep 15, 2022	IDA-38390	Int Charges	83,365.45
Sep 15, 2022	IDA-38390	Loan Repay	9,663.63
Sep 15, 2022	IDA-38390	Loan Repay	343,205.90
Mar 15, 2022	IDA-38390	Int Charges	465.52
Mar 15, 2017	IDA-38390	Loan Repay	367,772.88
Mar 15, 2017	IDA-38390	Int Charges	102,056.97
Mar 15, 2017	IDA-38390	Int Charges	102,056.97
Sep 15, 2016	IDA-38390	Int Charges	3,617.87
Sep 15, 2016	IDA-38390	Int Charges	3,617.87
Sep 15, 2016	IDA-38390	Loan Repay	381,591.60
Sep 15, 2016	IDA-38390	Int Charges	105,075.10
Sep 15, 2016	IDA-38390	Int Charges	105,075.10
Sep 15, 2018	IDA-38390	Int Charges	6,953.83
Sep 15, 2018	IDA-38390	Int Charges	6,953.83
Mar 15, 2018	IDA-38390	Int Charges	11,812.04
Mar 15, 2018	IDA-38390	Int Charges	11,812.04
Mar 15, 2018	IDA-38390	Int Charges	99,723.19
Mar 15, 2018	IDA-38390	Loan Repay	396,028.90

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Overall Implementation Progress (IP)	Satisfactory	2011-11-14
Progress towards achievement of PDO	Satisfactory	2011-11-14
Procurement	Satisfactory	2011-11-14
Financial Management	Satisfactory	2011-11-14
Monitoring and Evaluation	Satisfactory	2011-11-14
Counterpart Funding	Satisfactory	2011-11-14
Project Management	Satisfactory	2011-11-14

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-29-2012
Outcomes	Moderately Unsatisfactory
Risk to Development Outcome	Modest
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Moderately Unsatisfactory
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 05-28-2013	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	Moderate	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Unsatisfactory	N/a
Government Performance	Unsatisfactory	N/a
Implementing Agency	Moderately Unsatisfactory	N/a
Icr Quality	Satisfactory	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Increased employment and productivity in participating MSMEs	Value	Emlployment 11,325.	Current employment 15855i.e. 4530 new jobs create	15,438 jobs created
	Date	March 15, 2008	October 31, 2011	December 6, 2010
	Comment	At the beginning of the project there was no baseline possible since the MSMEs had still not been identified. Once the BDSservices had been provided a sample survey was conducted for the impact assessment study. It covered 1,904 MSMEs that had beenprovided with BDS services. They employed 11,325 employees.	Detailed independent impact evaluation studies are available for both the A2F and BDS components.	No recent additions in this area since support to BDS has effectively concluded

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Access to Finance: Minimum of two new MFIs created, at least one Bank establishes a downscaling operation and at least $15 millionin new private sector investment.	Value	0	5 MFIs providing savings and loans services to MSM	5
	Date	July 31, 2007	October 31, 2011	December 6, 2010
	Comment	This is a de novo market. There were no large scale, self-sustainable MFIs oper ating prior to project launch.	This component has greatly surpassed its initial targets and helped to create a vibrant commercial microfinance market in Nigeria.Other players have seen the demonstration effect and moved in to establish their own commercial ventures. The A2F component hasbeenaffected by the banking sector crisis. Two (of 7) MFIs have closed down but the other 5 continue their operations.	One new MFB started up operations in Kaduna with strong equity financing from IFC and others. However, two MFBs closed down as aresult of the banking crisis. They had grown quickly and suffered a run on the banks resulting in CBN taking away their license.

BDS: Assistance provided to at least 30 BDS providers, at least 20 products/services developed or improved; at least 1000 MSMEs receive BDS support through the project	Value	0 BDS providers,0 products and services, 0 MSMEs	71 BDS providers (grants total $3.5 m),25 new pro
	Date	July 31, 2007	October 31, 2010	December 6, 2010
	Comment	Not applicable as this is a de novo market.	The final round of BDS grants was made following the granting of a 6 month extension.	The final BDS grants have already been made.

Reduction in constraints faced by MSMEs in participating states: business registration, secured transactions, commercial dispute resolution.	Value	(i) 36 days to register a business(ii) No framewo	(i) 34 days to register a business(ii) Credit bur
	Date	December 11, 2007	October 31, 2011	December 6, 2010
	Comment	Investment Climate: Company and VAT registration not fully integrated, secured transactions regime not available, disputeresolution mechanisms insufficient to meet business requirements in States	The initial report on the combining of the VAT and Tax registration has been submitted. Once the work has been completed itshouldradically reduce the time required to start a new business.	Business registration has not yet made progress but the contract has been signed. On ADR the multi-door court systems have beenopened in Abia and Kaduna but no results yet in terms of speed for handling cases.

Public-Priv. Partnerships: Capacity building to at least 2 fed. and 6 state level entities to strengthen and align to best practicetheir support to MSMEs. 3 Annual MSME competitiv. reports prepared	Value	Identify 4 federal agencies: NIPC, CBN, FIRS, SME	Training programs for NIPC, SMEDAN and FMOF were a	Gov/PS demonstrate confidence in partnership dev.
	Date	March 31, 2007	October 31, 2001	June 30, 2010
	Comment

Volume of Bank Support: Institutional Development - Microfinance	Value	0.00	2912013623.47	10000000.00
	Date	June 30, 2004	October 31, 2011	June 30, 2010
	Comment	No bank disbursement at beginning of project.	Data gathered from retrofit exercise

Volume of Bank Support: Institutional Development - SME Value 0.00 2957000.00 12000000.00
Date October 31, 2010 June 30, 2010
Comment Data gathered from retrofit exercise
Outstanding MSME Loan Portfolio Value 0.00 13753300.00 0.00
Date June 30, 2004 April 27, 2010 June 30, 2010
Comment No commercial MFIs existing. Data gathered from MSME annual report No target available

Number of active micro-savings accounts	Value	0.00	1100000.00	120000.00
	Date	June 30, 2004	October 31, 2010	June 30, 2010
	Comment	The microfinance banks did not exist before the project.	Data from MSME quarterly report.

Active Loan Accounts Value 0.00 34000.00 0.00
Date October 31, 2010 June 30, 2010
Comment Data gathered from MSME quarterly report No target available

Outstanding MSME Loan Portfolio	Value	0.00	13753300.00	0.00
	Date	June 30, 2004	April 27, 2010	June 30, 2010
	Comment	No commercial MFIs existing.	Data gathered from MSME annual report	No target available

Active Loan Accounts	Value	0.00	34000.00	0.00
	Date		October 31, 2010	June 30, 2010
	Comment		Data gathered from MSME quarterly report	No target available