| Financier | Commitments |
|---|---|
| IDA Credit | 100.00 |
Supporting Access to Finance and Enterprise Recovery (SAFER)
Abstract*
The project seeks to address market failures in the provision of finance to MSMEs, which have been exacerbated by the negative impact of COVID-19. Despite having a vibrant financial sector, lending to MSMEs has been declining in Kenya for the past few years on account of the interest rate cap, among other factors. The Covid-19 pandemic has exacerbated an already bad situation and is expected to further slow-down the growth in private sector credit... Show More
Development Objective
The objective of the Project is to increase access to financial services and support COVID-19 recovery of Micro, Small and Medium Enterprises (MSMEs) in Kenya.
Key Details
Project Details
P175017
Active
Ahmed Rostom , Leah Kiwara
Republic of Kenya
March 11, 2021
(as of board presentation)
December 8, 2021
May 9, 2022
US$ 250.00 million
National Treasury and Planning
2022
US$ 100.00 million
N/A
February 9, 2024
December 31, 2026
Yes
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | 100.00 |
| IBRD + IDA Commitment | 100.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 250.00 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Jun 12, 2024 | IDA-70180 | Loan Disb | 7,530,950.00 |
| Dec 15, 2023 | IDA-70180 | Int Charges | 10.54 |
| Jun 15, 2023 | IDA-70180 | Int Charges | 3,570.62 |
| Jun 15, 2023 | IDA-70180 | Int Charges | 8,138.74 |
| Jun 15, 2023 | IDA-70180 | Int Charges | 8,138.74 |
| Jun 15, 2023 | IDA-70180 | Int Charges | 139.14 |
| Jun 15, 2023 | IDA-70180 | Int Charges | 316.23 |
| Jun 15, 2023 | IDA-70180 | Int Charges | 316.23 |
| Jun 30, 2023 | IDA-70180 | Loan Disb | 3,255,900.00 |
| Jun 5, 2023 | IDA-70180 | Loan Disb | 34,261.67 |
| Dec 8, 2022 | IDA-70180 | Loan Disb | 2,101,600.00 |
| Jun 24, 2024 | IDA-70180 | Loan Disb | 358,889.38 |
| Jun 25, 2024 | IDA-70180 | Loan Disb | 512,907.38 |
| Dec 8, 2021 | IDA-70180 | Loan Commitment | 100,000,000.00 |
| Dec 15, 2023 | IDA-70180 | Int Charges | 8,590.03 |
| Dec 15, 2023 | IDA-70180 | Int Charges | 19,735.26 |
| Dec 15, 2023 | IDA-70180 | Int Charges | 19,735.26 |
| Dec 14, 2023 | IDA-70180 | Loan Disb | 3,104,921.50 |
| Jun 15, 2024 | IDA-70180 | Int Charges | 91.17 |
| Jun 15, 2024 | IDA-70180 | Int Charges | 32,051.64 |
| Jun 15, 2024 | IDA-70180 | Int Charges | 32,051.64 |
| Jun 15, 2024 | IDA-70180 | Int Charges | 13,428.73 |
| Jun 25, 2024 | IDA-70180 | Loan Disb | 96,199.95 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2024-12-17 |
| Project Management | Satisfactory | 2024-12-17 |
| Progress towards achievement of PDO | Moderately Satisfactory | 2024-12-17 |
| Procurement | Moderately Satisfactory | 2024-12-17 |
| Financial Management | Moderately Satisfactory | 2024-12-17 |
| Monitoring and Evaluation | Satisfactory | 2024-12-17 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Volume of additional private capital mobilized Value 0.00 0.00 50000000.00 Date November 30, 2020 May 15, 2023 December 31, 2026 Comment Volume of MSME financing to enterprises affected by COVID-19 Value 0.00 0.00 80000000.00 Date November 30, 2020 May 15, 2023 December 31, 2026 Comment Share of beneficiary MSMEs under the project that survive COVID-19 Value 0.00 0.00 70.00 Date November 30, 2020 May 15, 2023 December 31, 2026 Comment Share of beneficiary MSMEs that did not receive support from the project that survive COVID-19 Value 0.00 0.00 0.00 Date Comment Number of new financial products for MSMEs launched by participating financial institutions in response to Covid-19 Value 0.00 0.00 3.00 Date November 30, 2020 May 15, 2023 December 31, 2026 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of MSME borrowers financed by PFIs through the credit guarantee scheme under the Project (cumulative, new, disaggregated by gender, location/region, sectors) Value 0.00 0.00 94400.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Number of business borrowers financed by MFB/SACCOs and digital platforms under the Project (cumulative, new, disaggregated by gender, location/region, sectors) Value 0.00 0.00 273456.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment PFIs develop institutional maturity (IM) Value 0.00 0.00 80.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Number of PFIs that implemented institutional development plans Value 0.00 0.00 10.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Of which, women borrowers Value 0.00 0.00 37706.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Of which, women borrowers Value 0.00 0.00 109382.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment CGS Company Established Value No No Yes Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Number of PFIs receiving the line of credit under the project Value 0.00 0.00 5.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Citizen engagement: Percentage of beneficiary firms reporting project financing reflected their needs Value 0.00 0.00 70.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Number of PFIs participating in the credit guarantee scheme Value 0.00 0.00 7.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Number of subloans disbursed through digital channels under the Project Value 0.00 0.00 261666.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Citizen engagement: Percentage of beneficiary firms reporting project financing reflected their needs - of which, women-owned Value 0.00 0.00 70.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Private Capital Mobilized Value 0.00 0.00 10000000.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Percentage of MSME Loans extended to Women-Owned Enterprises Value 0.00 0.00 40.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Citizen engagement: Report drafted on Citizen Engagement Survey Value No No Yes Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Number of partial credit guarantees provided to PFIs under the Project Value 0.00 0.00 35400.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Number of women-owned MSMEs that participate in targeted sessions Value 0.00 0.00 88285.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Percentage of women-owned MSMEs reporting satisfied or very satisfied by targeted sessions Value 0.00 0.00 70.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment Share of volume of financial support under the Project channeled to investments in the green economy and climate financing Value 0.00 0.00 15.00 Date November 18, 2021 May 15, 2023 December 31, 2026 Comment