Land Bank Financial Intermediation Project

Abstract*

The objective of the Land Bank Financial Intermediation Loan Project for South Africa is to sustainably scale up Land Bank’s financing, specifically to benefit emerging farmers. The project is a financial intermediary loan (FIL) of US$93 million to Land Bank as the borrower and implementing agency with a guarantee of the Republic of South Africa. The project has one component: a Line of Credit (LOC) for agricultural financing in the amount of US$93... Show More

Development Objective

The project's development objective is to sustainably scale up Land Bank's financing, specifically to benefit emerging farmers.

Key Details

Project Details

Project ID
P150008
Status
Closed
Team Leader
Ajai Nair , Peter Goodman, Barry Maher
Borrower 2
Land and Agricultural Development Bank of South Africa

Country
South Africa
Disclosure Date
June 27, 2014
Approval Date
(as of board presentation)
January 23, 2017
Effective Date
September 29, 2017

Total Project Cost 1
US$ 93.00 million
Implementing Agency
Land and Agriculture Development Bank of South Africa
Region
Eastern and Southern Africa
Fiscal Year 3
2017

Commitment Amount
US$ 93.00 million
Environmental Category
F
Environmental and Social Risk
Not Applicable
Closing Date
April 1, 2022

Consultant Services required
No
Last Stage Reached
BANK APPROVED
Last Update Date
April 18, 2023

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 - Finance for Development25%
- FY17 - Agriculture Finance25%
FY17 - Financial Infrastructure and Access25%
- FY17 - MSME Finance25%

FY17 - Private Sector Development

FY17 - Jobs100%

FY17 - Urban and Rural Development

FY17 - Rural Development50%
- FY17 - Rural Markets50%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	93.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	93.00
IDA Commitment	N/A
IBRD + IDA Commitment	93.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	93.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jul 1, 2021	IBRD-86860	Int Charges	90,200.35
Jul 1, 2022	IBRD-86860	Int Charges	282,909.20
Apr 1, 2022	IBRD-86860	Int Charges	26,721.59
Jan 1, 2022	IBRD-86860	Int Charges	81,937.43
Jul 28, 2022	IBRD-86860	Loan Disb	6,027,727.50
Jul 28, 2022	IBRD-86860	Loan Disb	-6,027,727.50
Jul 28, 2022	IBRD-86860	Loan Disb	6,027,727.50
Jan 1, 2022	IBRD-86860	Int Charges	261,744.58
Jul 18, 2022	IBRD-86860	Loan Disb	-9,779,124.00
Jul 28, 2022	IBRD-86860	Loan Disb	6,027,727.50
Jul 18, 2022	IBRD-86860	Loan Disb	-9,905,018.00
Jul 18, 2022	IBRD-86860	Loan Disb	9,905,018.00
Jul 18, 2022	IBRD-86860	Loan Disb	-9,905,018.00
Jul 28, 2022	IBRD-86860	Loan Disb	-6,027,727.50
Jul 28, 2022	IBRD-86860	Loan Disb	-6,027,727.50
Apr 1, 2022	IBRD-86860	Int Charges	290,313.16
Apr 1, 2022	IBRD-86860	Int Charges	90,741.86
Jul 1, 2022	IBRD-86860	Int Charges	88,300.57
Oct 1, 2022	IBRD-86860	Int Charges	89,702.25
Oct 1, 2022	IBRD-86860	Int Charges	89,767.16
Nov 29, 2021	IBRD-86860	Loan Cancel	66,124,640.00
Jul 18, 2022	IBRD-86860	Loan Disb	9,905,018.00
Jul 18, 2022	IBRD-86860	Loan Disb	-9,905,018.00
Jul 18, 2022	IBRD-86860	Loan Disb	9,905,018.00
Jul 28, 2022	IBRD-86860	Loan Disb	-5,951,974.00
Oct 1, 2022	IBRD-86860	Int Charges	-89,702.25
Oct 1, 2022	IBRD-86860	Int Charges	13.58
Oct 1, 2022	IBRD-86860	Int Charges	-13.58
Oct 13, 2022	IBRD-86860	Loan Repay	85,211.89
Apr 1, 2023	IBRD-86860	Int Charges	0.00
Jun 25, 2018	IBRD-86860	Loan Disb	6,636,214.00
May 8, 2018	IBRD-86860	Fee Charges	232,500.00
May 9, 2018	IBRD-86860	Int Charges	188,547.98
Jun 25, 2018	IBRD-86860	Loan Disb	-6,636,214.00
Jun 25, 2018	IBRD-86860	Loan Disb	6,598,240.50
Jun 25, 2018	IBRD-86860	Loan Disb	-6,636,214.00
Jun 25, 2018	IBRD-86860	Loan Disb	6,636,214.00
Jun 25, 2018	IBRD-86860	Loan Disb	-6,598,240.50
Jun 25, 2018	IBRD-86860	Loan Disb	6,636,214.00
Oct 2, 2018	IBRD-86860	Int Charges	150,215.80
Jan 3, 2019	IBRD-86860	Int Charges	140,887.60
May 6, 2019	IBRD-86860	Int Charges	107,706.31
Nov 14, 2018	IBRD-86860	Int Charges	112,139.55
Apr 1, 2019	IBRD-86860	Int Charges	143,005.94
Jul 2, 2019	IBRD-86860	Int Charges	145,765.40
Oct 1, 2019	IBRD-86860	Int Charges	134,329.83
Oct 8, 2019	IBRD-86860	Int Charges	108,298.11
Feb 14, 2020	IBRD-86860	Loan Disb	-20,277,120.00
Feb 14, 2020	IBRD-86860	Loan Disb	20,188,764.00
Feb 14, 2020	IBRD-86860	Loan Disb	-20,188,764.00
Feb 14, 2020	IBRD-86860	Loan Disb	20,188,764.00
Feb 14, 2020	IBRD-86860	Loan Disb	20,277,120.00
Feb 14, 2020	IBRD-86860	Loan Disb	-20,188,764.00
Jan 7, 2020	IBRD-86860	Int Charges	140,444.77
Jul 29, 2020	IBRD-86860	Int Charges	104,929.18
Jul 29, 2020	IBRD-86860	Int Charges	337,499.47
Apr 3, 2020	IBRD-86860	Int Charges	101,641.23
Feb 14, 2020	IBRD-86860	Loan Disb	20,188,764.00
Apr 1, 2020	IBRD-86860	Int Charges	110,266.18
Oct 13, 2022	IBRD-86860	Loan Repay	85,211.89
Oct 1, 2022	IBRD-86860	Int Charges	89,767.16
Oct 1, 2022	IBRD-86860	Int Charges	89,702.25
Oct 1, 2022	IBRD-86860	Int Charges	-89,767.16
Oct 13, 2022	IBRD-86860	Loan Repay	-85,211.89
Jan 1, 2023	IBRD-86860	Int Charges	113,613.23
Jan 1, 2023	IBRD-86860	Int Charges	260.63
Jan 1, 2023	IBRD-86860	Int Charges	40,919.66
Apr 1, 2023	IBRD-86860	Loan Repay	88,939.79
Jul 28, 2022	IBRD-86860	Loan Cancel	6,027,727.50
Jul 18, 2022	IBRD-86860	Loan Cancel	9,905,018.00
Jul 28, 2022	IBRD-86860	Loan Cancel	-15,932,745.00
Jul 28, 2022	IBRD-86860	Loan Cancel	15,932,745.00
Apr 1, 2023	IBRD-86860	Int Charges	-7,771.76
Jul 4, 2023	IBRD-86860	Int Charges	109,873.59
Jul 4, 2023	IBRD-86860	Int Charges	43,378.56
Oct 1, 2022	IBRD-86860	Int Charges	7,771.77
Aug 31, 2023	IBRD-86860	Loan Repay	112,396.08
Aug 31, 2023	IBRD-86860	Loan Repay	4,610,754.50
Aug 31, 2023	IBRD-86860	Loan Repay	1,639,424.10
Aug 31, 2023	IBRD-86860	Int Charges	82,065.11
Aug 31, 2023	IBRD-86860	Int Charges	30,330.97
Jul 1, 2023	IBRD-86860	Loan Repay	0.00
Jul 1, 2023	IBRD-86860	Int Charges	7,512.51
Jan 23, 2017	IBRD-86860	Loan Commitment	93,000,000.00
Apr 1, 2020	IBRD-86860	Int Charges	179,312.98
Oct 1, 2020	IBRD-86860	Int Charges	82,655.79
Oct 1, 2020	IBRD-86860	Int Charges	81,704.24
Oct 1, 2020	IBRD-86860	Int Charges	260,071.38
Jan 1, 2021	IBRD-86860	Int Charges	83,552.37
Jan 1, 2021	IBRD-86860	Int Charges	266,129.78
Apr 1, 2021	IBRD-86860	Int Charges	82,315.49
Apr 1, 2021	IBRD-86860	Int Charges	85,572.90
Apr 1, 2021	IBRD-86860	Int Charges	273,190.47
Oct 1, 2021	IBRD-86860	Int Charges	86,768.30
Oct 1, 2021	IBRD-86860	Int Charges	277,155.56
Oct 1, 2021	IBRD-86860	Int Charges	82,882.24
Jul 1, 2021	IBRD-86860	Int Charges	288,096.34
Apr 1, 2023	IBRD-86860	Int Charges	0.00
Apr 1, 2023	IBRD-86860	Int Charges	88,939.79
Apr 1, 2023	IBRD-86860	Int Charges	26,406.85
Apr 1, 2023	IBRD-86860	Int Charges	41,669.45
Oct 1, 2022	IBRD-86860	Int Charges	-13.58
Oct 1, 2022	IBRD-86860	Int Charges	13.58

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Unsatisfactory	2021-07-22
Project Management	Unsatisfactory	2021-07-22
Procurement	Satisfactory	2021-07-22
Monitoring and Evaluation	Unsatisfactory	2021-07-22
Overall Implementation Progress (IP)	Unsatisfactory	2021-07-22
Financial Management	Moderately Satisfactory	2021-07-22

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 01-20-2023
Outcomes	Highly Unsatisfactory
Risk to Development Outcome
Bank Performance	Moderately Unsatisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 05-15-2023	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Highly Unsatisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Unsatisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	High	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Volume of wholesale loans disbursed under the project (minimum) Value 0.00 65100000.00 39525000.00
Date October 31, 2016 March 31, 2022
Comment
Volume of direct value chain loans disbursed under the project (minimum) Value 0.00 27900000.00 6975000.00
Date October 31, 2016 March 31, 2022
Comment
Total NPL rate under the line of credit (maximum) Value 0.00 10.00 10.00
Date October 31, 2016 March 31, 2022
Comment
Direct project beneficiaries (minimum) Value 0.00 1100.00 198.00
Date October 31, 2016 March 31, 2022
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Total NPL rate for Land Bank (maximum) Value 3.72 10.00 10.00
Date December 31, 2015 March 31, 2022
Comment
Increase in outstanding loan portfolio of Land Bank (minimum) Value 37796688000.00 48.00 10.00
Date December 31, 2015 March 31, 2022
Comment
Increase in CB outstanding loan portfolio (minimum) Value 31607333000.00 48.00 10.00
Date December 31, 2015 March 31, 2022
Comment
Increase in REM outstanding loan portfolio (minimum) Value 489051000.00 150.00 25.00
Date December 31, 2015 March 31, 2022
Comment
Land Bank liabilities that are long-term (over 1 year) (minimum) Value 31.00 40.00 35.00
Date December 31, 2015 March 31, 2022
Comment
Return on Average Equity (minimum) Value 6.78 6.78 4.77
Date December 31, 2015 March 31, 2022
Comment
Return on Average Assets (minimum) Value 1.12 1.12 1.12
Date December 31, 2015 March 31, 2022
Comment

Volume of wholesale loans disbursed under the project (minimum)	Value	0.00	65100000.00	39525000.00
	Date	October 31, 2016	March 31, 2022
	Comment

Direct project beneficiaries (minimum)	Value	0.00	1100.00	198.00
	Date	October 31, 2016	March 31, 2022
	Comment

Total NPL rate for Land Bank (maximum)	Value	3.72	10.00	10.00
	Date	December 31, 2015	March 31, 2022
	Comment

Increase in outstanding loan portfolio of Land Bank (minimum)	Value	37796688000.00	48.00	10.00
	Date	December 31, 2015	March 31, 2022
	Comment

Increase in CB outstanding loan portfolio (minimum)	Value	31607333000.00	48.00	10.00
	Date	December 31, 2015	March 31, 2022
	Comment

Increase in REM outstanding loan portfolio (minimum)	Value	489051000.00	150.00	25.00
	Date	December 31, 2015	March 31, 2022
	Comment

Land Bank liabilities that are long-term (over 1 year) (minimum)	Value	31.00	40.00	35.00
	Date	December 31, 2015	March 31, 2022
	Comment

Return on Average Equity (minimum)	Value	6.78	6.78	4.77
	Date	December 31, 2015	March 31, 2022
	Comment

Return on Average Assets (minimum)	Value	1.12	1.12	1.12
	Date	December 31, 2015	March 31, 2022
	Comment