| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 450.00 |
Türkiye: Post-Earthquake Micro, Small and Medium Enterprises (MSME) Recovery project
Abstract*
The Project will provide US$450 million in the form of reimbursable financing to eligible MSMEs affected by the severe earthquakes in Feb 2023. The Project targets MSMEs that have been negatively affected by the earthquake but were financially viable before the earthquake and are likely to survive the disaster, provided these firms get funding to meet their temporary liquidity needs. The project will have two subcomponents: one on reimbursable financing... Show More
Development Objective
The PDO is to support business continuity and sustainable growth of viable MSMEs in the earthquake-affected provinces.
Key Details
Project Details
P181068
Active
Stefka Slavova , Ali Abukumail
The Small and Medium Enterprises (SME) Development Organization of Türkiye (KOSGEB)
May 8, 2023
(as of board presentation)
June 27, 2023
September 21, 2023
US$ 300.00 million
The Small and Medium Enterprises (SME) Development Organization of Türkiye (KOSGEB)
2023
US$ 450.00 million
N/A
Moderate
June 30, 2025
Yes
BANK APPROVED
January 3, 2024
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 450.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 450.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 300.00 |
Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Dec 11, 2023 | IBRD-95790 | Loan Disb | 84,582,120.00 |
| Mar 15, 2024 | IBRD-95790 | Int Charges | 186,119.31 |
| Mar 15, 2024 | IBRD-95790 | Int Charges | 186,119.31 |
| Mar 15, 2024 | IBRD-95790 | Int Charges | 8,075,645.50 |
| Nov 7, 2023 | IBRD-95790 | Loan Disb | 75,000,000.00 |
| Dec 13, 2023 | IBRD-95790 | Loan Disb | 50,000,000.00 |
| Dec 1, 2023 | IBRD-95790 | Loan Disb | 81,420,480.00 |
| Nov 22, 2023 | IBRD-95790 | Loan Disb | 54,437,784.00 |
| May 8, 2024 | IBRD-95790 | Loan Disb | 125,000.00 |
| Jun 27, 2023 | IBRD-95790 | Loan Commitment | 450,000,000.00 |
| Aug 29, 2024 | IBRD-95790 | Loan Disb | 90,000.00 |
| Sep 21, 2023 | IBRD-95790 | Fee Charges | 1,125,000.00 |
| Sep 21, 2023 | IBRD-95790 | Loan Disb | 1,125,000.00 |
| Dec 15, 2023 | IBRD-95790 | Loan Disb | 27,840,000.00 |
| Nov 27, 2023 | IBRD-95790 | Loan Disb | 74,676,360.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Satisfactory | 2024-10-31 |
| Procurement | Satisfactory | 2024-10-31 |
| Monitoring and Evaluation | Highly Satisfactory | 2024-10-31 |
| Project Management | Satisfactory | 2024-10-31 |
| Financial Management | Satisfactory | 2024-10-31 |
| Overall Implementation Progress (IP) | Highly Satisfactory | 2024-10-31 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Share of beneficiary MSMEs that retained or increased their employment within 24 months of receiving reimbursable financing, compared to the average employment during the year before the earthquake Value 0.00 0.00 60.00 Date March 31, 2023 September 30, 2023 December 31, 2024 Comment Share of beneficiary MSMEs that generated annual revenue that is equal or more than the average over the year before the earthquakes, within 24 months of receiving reimbursable financing Value 0.00 0.00 70.00 Date March 31, 2023 September 30, 2023 December 31, 2024 Comment Out of which are women-owned or led MSMEs Value 0.00 0.00 15.00 Date March 31, 2023 September 30, 2023 December 31, 2024 Comment Out of which are women-owned or led MSMEs Value 0.00 0.00 15.00 Date March 31, 2023 October 31, 2023 December 31, 2024 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Firms benefiting from private sector initiatives Value 0.00 0.00 50000.00 Date March 31, 2023 September 30, 2023 December 31, 2024 Comment Out of which are female-owned or led MSMEs Value 0.00 0.00 7500.00 Date March 31, 2023 September 30, 2023 December 31, 2024 Comment Percentage of beneficiary MSMEs reporting that the provided reimbursable support financing reflected their needs Value 0.00 0.00 70.00 Date March 31, 2023 September 30, 2023 December 31, 2024 Comment Out of which are women-owned or led MSMEs Value 0.00 0.00 15.00 Date March 31, 2023 September 30, 2023 December 31, 2024 Comment