| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 20.00 |
| Borrower/Recipient | 20.30 |
Microfinance Development Project
Abstract*
The objectives of the Microfinance Development Project for Russia are to: (i) develop a proper legal, regulatory, and supervisory framework to enable safe and sound growth of the microfinance and credit cooperative sectors; and (ii) develop the industry's capacity to meet sectoral regulations and institutional standards. The project has five components. (1) Development of legal and regulatory framework component will provide advisory and technical... Show More
Development Objective
The objectives of the project are to: (i) develop a proper legal, regulatory, and supervisory framework to enable safe and sound growth of the microfinance and credit cooperative sectors; and (ii) develop the industry's capacity to meet sectoral regulations and institutional standards.
Key Details
Project Details
P095554
Closed
Brett E. Coleman
N/A
March 10, 2011
(as of board presentation)
January 31, 2013
N/A
US$ 40.30 million
N/A
2013
US$ 20.00 million
C
June 25, 2013
November 5, 2013
No
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 20.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 20.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 40.30 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Nov 5, 2013 | IBRD-82280 | Loan Cancel | 20,000,000.00 |
| Jan 31, 2013 | IBRD-82280 | Loan Commitment | 20,000,000.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Procurement | Satisfactory | 2013-06-05 |
| Project Management | Satisfactory | 2013-06-05 |
| Financial Management | Satisfactory | 2013-06-05 |
| Overall | Moderately Ineffective | 2013-06-05 |
| Progress towards achievement of PDO | Satisfactory | 2013-06-05 |
| Counterpart Funding | Satisfactory | 2013-06-05 |
| Monitoring and Evaluation | Satisfactory | 2013-06-05 |
| Overall Implementation Progress (IP) | Satisfactory | 2013-06-05 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Outreach: number of (million) members and clients of MFIs and CCs to increase over the life of the project (cumulative). Value 0.98 0.98 1.28 Date January 1, 2013 December 29, 2017 Comment Baseline based on available data as of November 2012, which includes reports of actual CC membership from seven SROs and reportsofestimated CC membership from three SROs. Baseline may be updated later based on newly available data. Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Number of areas in which enabling legal and regulatory texts have been developed, adopted and implemented. Value 0.00 0.00 5.00 Date January 1, 2013 December 29, 2017 Comment The areas identified are: (i) tax, (ii) bankruptcy, (iii) loan loss provisions, (iv) reporting standards, (v) deposit insurance,(vi) banking legislation, (vii)consumer protection, (viii) MFI/CC supervision, (ix) microfinance, (x) credit cooperation, and (xi)prudential norms. Percentage of all registered CCs and MFIs meeting their reporting requirements. Value 0.00 0.00 90.00 Date January 1, 2013 December 29, 2017 Comment Value: 0% Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Portfolio at Risk - Microfinance Value 12.90 12.90 10.00 Date January 1, 2013 December 29, 2017 Comment Baseline based on estimates for MFIs from the MIX in 2012. As institutions start reporting under the new legal framework, thisbaseline (and ultimate target) may need to be re-visited. Portfolio at Risk is defined as (Gross outstanding balance of loans withpayments over 30 days late excluding payday loans + renegotiated and rescheduled loans, divided by gross portfolio outstanding). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Less than 10% Percentage of project-supported institutions that are reporting on this indicator Value 0.00 0.00 80.00 Date January 1, 2013 December 29, 2017 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Unified standards of CC/MFI performance approved by the MoF and/or FFMS. Value Several separate performance standards N/A Fully approved for CCs and MFIs Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Standard rules for conducting audits of CCs/MFIs developed. Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Percentage of CCs having joined an SRO. Value 0.00 0.00 95.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Value: 0% Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Number of MoF and/or FFMS staff in central and local offices trained on CC and MFI supervision (cumulative). Value 0.00 0.00 95.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Value: 0 Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. National training program and certification process developed. Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Software for the monitoring and supervision of the industry developed. Value No No Roll-out completed Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Modular management and reporting software for the industry developed. Value No No Roll-out, including training, completed Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Volume of Bank Support: Institutional Development - Microfinance Value 0.00 0.00 3879850.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Value: 0 Training outreach for CCs and MFI management. Value 0.00 0.00 60.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Value: 0% Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Percentage of market (in terms of no. of active borrowers) served by institutions with at least one staff having completed thetraining developed by the project Feasibility study and strategy for the development of specialized rating agencies completed. Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Feasibility study and strategy for Risk Insurance completed. Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Regulation and/or amendments to existing framework on Consumer Protection in MFIs and CCs developed. Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Accounting Instructions for CCs and MFIs developed. Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Percentage of CCs that have undergone inspection within the past 36 months. Value 0.00 0.00 100.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Value: 0% Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Volume of Bank Support: Enabling Environment - Microfinance Value 0.00 0.00 13275150.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Value: 0 Outstanding Microfinance Loan Portfolio Value 0.00 0.00 0.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment These core indicators are unavailable as of now; one objective of this Project is to build the capacity of the MoF and FFMS tocollect this type of data (expected to be available by the end of the Project's Year 2). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). % active loans to women - Microfinance Value 0.00 0.00 0.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment These core indicators are unavailable as of now; one objective of this Project is to build the capacity of the MoF and FFMS tocollect this type of data (expected to be available by the end of the Project's Year 2). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). No of active loan accounts -Microfinance Value 0.00 0.00 0.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment These core indicators are unavailable as of now; one objective of this Project is to build the capacity of the MoF and FFMS tocollect this type of data (expected to be available by the end of the Project's Year 2). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). Number of active micro-savings accounts Value 0.00 0.00 0.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment These core indicators are unavailable as of now; one objective of this Project is to build the capacity of the MoF and FFMS tocollect this type of data (expected to be available by the end of the Project's Year 2). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). % active micro-savings accounts held by women Value 0.00 0.00 0.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment These core indicators are unavailable as of now; one objective of this Project is to build the capacity of the MoF and FFMS tocollect this type of data (expected to be available by the end of the Project's Year 2). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). Return on Assets/Equity Value 0.00 0.00 0.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment These core indicators are unavailable as of now; one objective of this Project is to build the capacity of the MoF and FFMS tocollect this type of data (expected to be available by the end of the Project's Year 2). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). Creation of a supervision unit Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. Development of Supervision manuals. Number of areas covered by manuals (cumulative). Value 0.00 0.00 5.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. % of operationally sustainable CCs and MFIs Value NA NA BL+15% Date January 1, 2013 May 9, 2013 December 29, 2017 Comment These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). Project is not being implemented yet, so no new data is available. Hence, entering the baseline, but actual might be different. These core indicators and targets are unavailable as of now; one objective of this Project is to build the capacity of the MoF andFFMS to collect this type of data (expected to be available by the end of the Project's Year 2). Feasibility study and strategy for the use/creation of credit bureaus completed. Value No No Yes Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Percentage of project-supported institutions that are reporting on this indicator Value 0.00 0.00 80.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Percentage of project-supported institutions that are reporting on this indicator Value 0.00 0.00 80.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment No comments No comments No comments Percentage of project-supported institutions that are reporting on this indicator Value 0.00 0.00 80.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Percentage of project-supported institutions that are reporting on this indicator Value 0.00 0.00 80.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Percentage of project-supported institutions that are reporting on this indicator Value 0.00 0.00 80.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment Percentage of project-supported institutions that are reporting on this indicator Value 0.00 0.00 80.00 Date January 1, 2013 May 9, 2013 December 29, 2017 Comment