| Financier | Commitments |
|---|---|
| European Commission Development Fund - TF | 83.50 |
| International Bank for Reconstruction and Development | 347.35 |
Formal Employment Creation Project
Abstract*
The proposed project will support Turkish citizens and refugees to access formal employment opportunities in creditworthy enterprises operating in provinces with high incidence of refugees. In line with the socioeconomic support objectives of the Turkish government and other development partners, the planned operation will offer beneficiary firms better access to financial resources and capacity building activities to enhance their capacity of expanding... Show More
Development Objective
The project objective is to enhance the conditions for formal job creation by firms operating in provinces with high incidence of Syrians under Temporary Protection (SuTP), for the benefit of Turkish citizens and refugees.
Key Details
Project Details
P171766
Active
Sirma Demir Seker , Siddharth Hari
Development and Investment Bank of Turkey
February 13, 2020
(as of board presentation)
March 31, 2020
September 25, 2020
US$ 430.85 million
Development and Investment Bank of Turkey
2020
US$ 430.85 million
N/A
April 4, 2024
November 30, 2025
No
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 347.35 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 347.35 |
| Lending Instrument | |
|---|---|
| Grant Amount | 83.50 |
| Total Project Cost** | 430.85 |
Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Mar 31, 2020 | IBRD-90780 | Loan Commitment | 347,350,016.00 |
| Mar 15, 2022 | IBRD-90780 | Int Charges | 407,028.38 |
| Mar 15, 2022 | IBRD-90780 | Int Charges | 289,454.70 |
| Jun 16, 2023 | IBRD-90780 | Loan Disb | 45,421,752.00 |
| Sep 15, 2023 | IBRD-90780 | Int Charges | 70,000.68 |
| Sep 15, 2023 | IBRD-90780 | Int Charges | 7,006.68 |
| Sep 15, 2023 | IBRD-90780 | Int Charges | 175,503.88 |
| Sep 15, 2023 | IBRD-90780 | Int Charges | 4,592,300.00 |
| Feb 27, 2023 | IBRD-90780 | Loan Disb | 63,375,000.00 |
| Mar 15, 2024 | IBRD-90780 | Int Charges | 7,060,945.50 |
| Apr 5, 2024 | IBRD-90780 | Loan Disb | 53,091,500.00 |
| Nov 1, 2023 | IBRD-90780 | Loan Disb | 62,825,584.00 |
| Mar 15, 2024 | IBRD-90780 | Int Charges | 88,890.43 |
| Sep 15, 2021 | IBRD-90780 | Int Charges | 388,984.12 |
| Sep 15, 2021 | IBRD-90780 | Int Charges | 232,908.19 |
| Sep 20, 2021 | IBRD-90780 | Loan Disb | 46,854,000.00 |
| Jun 1, 2021 | IBRD-90780 | Loan Disb | 28,112,900.00 |
| Mar 15, 2021 | IBRD-90780 | Int Charges | 554,839.56 |
| Mar 15, 2021 | IBRD-90780 | Int Charges | 90,789.34 |
| Dec 18, 2020 | IBRD-90780 | Loan Disb | 50,251,648.00 |
| Sep 25, 2020 | IBRD-90780 | Loan Disb | 919,915.50 |
| Sep 25, 2020 | IBRD-90780 | Fee Charges | 919,915.50 |
| Mar 15, 2023 | IBRD-90780 | Int Charges | 271,259.70 |
| Mar 15, 2023 | IBRD-90780 | Int Charges | 1,517,244.10 |
| Sep 15, 2022 | IBRD-90780 | Int Charges | 265,650.12 |
| Sep 15, 2022 | IBRD-90780 | Int Charges | 411,582.06 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Satisfactory | 2024-12-25 |
| Financial Management | Satisfactory | 2024-12-25 |
| Monitoring and Evaluation | Satisfactory | 2024-12-25 |
| Procurement | Satisfactory | 2024-12-25 |
| Project Management | Satisfactory | 2024-12-25 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2024-12-25 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of formal jobs created by Grants (disaggregated by gender) Value 0.00 0.00 9000.00 Date June 30, 2020 May 15, 2023 December 31, 2024 Comment Ratio of the average maturity of beneficiary firms sub-financing under the project, over the average maturity of borrower's portfolio not financed under the project Value 1 1.31 >1 Date June 30, 2020 July 31, 2023 December 31, 2024 Comment Increased management skills in loan beneficiary firms Value 1 1 >1 Date June 30, 2020 May 15, 2023 December 31, 2024 Comment Increased employee skills in grant beneficiary firms Value 1 1 >1 Date June 30, 2020 May 15, 2023 December 31, 2024 Comment Number of formal jobs created in SMEs (disaggregated by gender) Value 0.00 0.00 4500.00 Date June 30, 2020 May 15, 2023 December 31, 2024 Comment Number of formal jobs created for women Value 0.00 0.00 2700.00 Date June 30, 2020 May 15, 2023 December 31, 2024 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Capital Stock of loan beneficiary firms Value 1 >2 >1 Date June 30, 2020 November 30, 2022 June 30, 2024 Comment Number of firms receiving grants Value 0.00 0.00 770.00 Date June 30, 2020 May 15, 2023 June 30, 2024 Comment Monitoring and Evaluation system developed (TKYB and SGK) Value No Yes Yes Date June 30, 2020 November 21, 2022 June 30, 2021 Comment Training provided to loan officers (in TKYB and PFIs) Value 0.00 30.00 25.00 Date June 30, 2020 July 31, 2023 June 30, 2024 Comment Number of women-inclusive firms receiving grants Value 0.00 0.00 255.00 Date June 30, 2020 May 15, 2023 June 30, 2024 Comment Number of employers completing training Value 0.00 0.00 120.00 Date June 30, 2020 December 8, 2023 December 31, 2024 Comment Number of employees completing training Value 0.00 0.00 4500.00 Date June 30, 2020 December 8, 2023 December 31, 2024 Comment Citizen engagement: Loan beneficiaries report that project sub-finance reflected their needs Value 0.00 87.00 80.00 Date June 30, 2020 December 8, 2023 December 31, 2024 Comment Citizen engagement: Grant beneficiaries report that project sub-finance reflected their needs Value 0.00 0.00 80.00 Date June 30, 2020 December 8, 2023 December 31, 2024 Comment Citizen engagement: Workers in grant beneficiary firms reporting that training and employment processes met their needs (disaggregated by gender) Value 0.00 0.00 85.00 Date June 30, 2020 December 8, 2023 December 31, 2024 Comment