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Financing Innovative Startups and Small and Medium Enterprises Project

Abstract*

The development objective of Financing Innovative Startups and Small and Medium Enterprises Project for Morocco is to facilitate the increase of private equity and quasi-equity finance for innovative startups and small and medium enterprises in the Project Area. This project has three components. 1) The first component, Financing Program, will target the following funding categories: angel/seed, early-stage, and VC stage. It has the following subcomponents:...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The project objective is to facilitate the increase of private equity and quasi-equity finance for innovative startups and small and medium enterprises in the Project Area.

Key Details

Project Details

  • P150928

  • Active

  • Samia Mouline

  • Kingdom of Morocco

  • Morocco

  • June 10, 2016

  • (as of board presentation)

    March 10, 2017

  • June 28, 2017

  • US$ 50.00 million

  • Tamwilcom (formerly La Caisse Centrale de Garantie)

  • Middle East and North Africa

  • 2017

  • US$ 50.00 million

  • F

  • November 7, 2023

  • November 30, 2025

  • Yes

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 50.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 50.00
IDA Commitment N/A
IBRD + IDA Commitment 50.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 50.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of March 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Nov 15, 2023 IBRD-87240 Int Charges 420,655.30
Nov 15, 2023 IBRD-87240 Int Charges 88,853.14
Nov 15, 2023 IBRD-87240 Loan Repay 494,574.94
Nov 15, 2023 IBRD-87240 Loan Repay 628,125.00
May 15, 2021 IBRD-87240 Int Charges 450,993.72
May 15, 2020 IBRD-87240 Int Charges 449,737.50
May 15, 2022 IBRD-87240 Int Charges 454,762.50
May 15, 2022 IBRD-87240 Loan Repay 628,125.00
May 15, 2022 IBRD-87240 Int Charges 1,639.10
May 15, 2022 IBRD-87240 Int Charges 98,346.23
May 15, 2022 IBRD-87240 Loan Repay 472,818.38
Mar 10, 2017 IBRD-87240 Loan Commitment 50,000,000.00
May 15, 2024 IBRD-87240 Int Charges 4,672.23
May 15, 2022 IBRD-87240 Int Charges 2,860.83
Nov 15, 2022 IBRD-87240 Int Charges 4,733.14
May 15, 2023 IBRD-87240 Int Charges 4,655.97
Nov 15, 2023 IBRD-87240 Int Charges 4,733.14
May 15, 2021 IBRD-87240 Int Charges 4,846.28
May 15, 2021 IBRD-87240 Int Charges 110,665.82
Nov 15, 2020 IBRD-87240 Int Charges 6,585.27
Nov 15, 2020 IBRD-87240 Int Charges 147,527.36
Nov 12, 2021 IBRD-87240 Loan Disb -21,119,342.00
Nov 15, 2021 IBRD-87240 Int Charges 108,307.02
May 15, 2022 IBRD-87240 Int Charges 1,795.14
Nov 15, 2021 IBRD-87240 Int Charges 4,733.14
Jun 23, 2020 IBRD-87240 Loan Disb 1,187,000.00
May 15, 2020 IBRD-87240 Int Charges 7,682.01
May 15, 2020 IBRD-87240 Int Charges 256,200.39
Dec 8, 2020 IBRD-87240 Loan Disb 1,232,342.50
May 15, 2018 IBRD-87240 Loan Disb -25,125,000.00
May 15, 2018 IBRD-87240 Int Charges 30,838.18
May 15, 2018 IBRD-87240 Int Charges 300,648.53
May 15, 2019 IBRD-87240 Int Charges 18,192.96
Nov 15, 2018 IBRD-87240 Int Charges 21,358.88
Nov 15, 2018 IBRD-87240 Int Charges 133,299.84
Jun 25, 2019 IBRD-87240 Loan Disb 8,500,000.00
May 15, 2019 IBRD-87240 Int Charges 187,184.17
Nov 15, 2019 IBRD-87240 Int Charges 291,191.60
Nov 15, 2019 IBRD-87240 Int Charges 10,169.17
Jun 28, 2017 IBRD-87240 Fee Charges 125,000.00
Jun 29, 2017 IBRD-87240 Loan Disb 25,000,000.00
Nov 15, 2017 IBRD-87240 Int Charges 15,674.65
Nov 15, 2017 IBRD-87240 Int Charges 210,520.12
Jun 25, 2018 IBRD-87240 Loan Disb 10,200,000.00
Jun 28, 2017 IBRD-87240 Loan Disb 125,000.00
Nov 15, 2022 IBRD-87240 Int Charges 91,632.23
Nov 15, 2022 IBRD-87240 Loan Repay 473,910.75
Nov 15, 2022 IBRD-87240 Int Charges -92,179.86
Nov 15, 2022 IBRD-87240 Loan Repay -473,363.12
Nov 15, 2022 IBRD-87240 Int Charges 92,179.86
Nov 15, 2022 IBRD-87240 Loan Repay 473,363.12
Nov 15, 2018 IBRD-87240 Int Charges 447,225.00
May 15, 2018 IBRD-87240 Loan Disb 25,125,000.00
Nov 12, 2021 IBRD-87240 Loan Disb 20,846,248.00
Nov 12, 2021 IBRD-87240 Loan Disb -20,846,248.00
Nov 12, 2021 IBRD-87240 Loan Disb 20,846,248.00
Nov 15, 2021 IBRD-87240 Int Charges 454,762.50
Nov 15, 2020 IBRD-87240 Int Charges 449,737.50
Nov 15, 2019 IBRD-87240 Int Charges 450,993.72
May 15, 2019 IBRD-87240 Int Charges 449,737.50
May 15, 2024 IBRD-87240 Loan Repay 628,125.00
May 15, 2024 IBRD-87240 Int Charges 84,292.61
May 15, 2024 IBRD-87240 Loan Repay 492,708.78
May 15, 2024 IBRD-87240 Int Charges 409,286.28
Nov 15, 2022 IBRD-87240 Int Charges 443,393.47
Nov 15, 2022 IBRD-87240 Loan Repay 628,125.00
May 15, 2023 IBRD-87240 Int Charges 0.01
May 15, 2023 IBRD-87240 Int Charges -0.01
May 15, 2023 IBRD-87240 Int Charges 432,024.38
May 15, 2023 IBRD-87240 Loan Repay 628,125.00
May 15, 2023 IBRD-87240 Int Charges 93,662.61
May 15, 2023 IBRD-87240 Loan Repay 495,189.40

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Progress towards achievement of PDO Satisfactory 2025-03-19
Project Management Satisfactory 2025-03-19
Procurement Moderately Satisfactory 2025-03-19
Procurement Satisfactory 2025-03-19
Project Management Satisfactory 2025-03-19
Monitoring and Evaluation Moderately Satisfactory 2025-03-19
Financial Management Moderately Satisfactory 2025-03-19
Overall Implementation Progress (IP) Satisfactory 2025-03-19
Progress towards achievement of PDO Satisfactory 2025-03-19
Overall Implementation Progress (IP) Satisfactory 2025-03-19
Financial Management Moderately Satisfactory 2025-03-19
Monitoring and Evaluation Moderately Satisfactory 2025-03-19

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Private Capital MobilizedValue0.0047300000.0030000000.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Private Angel/Seed Stage Capital Mobilized Through the ProjectValue0.0010080000.005000000.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Private Venture Capital Mobilized Through the ProjectValue0.0035020000.0025000000.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Beneficiaries that introduced a new or, improved on an existing, product, process, or service under the projectsValue0.00500.00100.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • SMEs receiving private equity financing through the projectValue0.0039.0060.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • SMEs receiving private Angel/Seed equity financing through the projectValue0.0012.0020.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • SMEs receiving private VC equity financing through the projectValue0.0027.0040.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Investment management company contracted to manage the Angel/Seed fundValue0.000.001.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Number of entrepreneurs receiving pre-seed grants and soft loans through the projectValue0.00986.00200.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Private Fund Managers contracted to manage new public-private funds under the projectValue0.003.002.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Percent female entrepreneurs receiving pre-seed grants through the projectValue0.007.0025.00
    DateSeptember 30, 2016September 10, 2018December 31, 2023
    Comment
  • Public-private funds Shareholder Agreements completedValue0.003.002.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Entrepreneurs receiving mentoring and investment readiness supportValue0.00986.00100.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Angel Network developed through the projectValue0.000.001.00
    DateSeptember 30, 2016December 31, 2023December 31, 2024
    Comment
  • Angel network members who received training through the projectValue0.000.0010.00
    DateSeptember 30, 2016September 10, 2018December 31, 2023
    Comment
  • Beneficiaries satisfied with services received and performance of PIs (%)Value0.0090.0075.00
    DateOctober 26, 2022December 31, 2023December 31, 2024
    Comment