Implementation, Completion and Results Report (ICR) Overview
The Finance for Jobs (F4J) is a Ministry of Finance (MoF) project that is implemented by DAI and funded by the World Bank, with the overarching objective of mobilizing private sector financing and support of job creation.
This report, implementation and results completion report (ICR), was prepared to review and assess achievements over the life of F4J1 project between November 30, 2016 and January 31, 2022. The report showcases the achievements against targets. The overall rating is satisfactory.
Key results include:
- 30 startups benefited from the F4J/ Entrepreneurship Ecosystem Matching Grant (EE-MG) – Business Development Services and 27 firms received support during/ COVID-19 to sustain operations.
- $8.44 million private capital mobilization exceeding the target result by more than 30%.
- 200 jobs were created.
- Nine Feasibility Studies Completed for Job-Focused Private Investments Pipeline under the Investment Co-Financing Facility (ICF) exceeding the targeted result of five.
- Development Impact Bond (DIB) was taken to Market as planned. DIB investors have formed the DIB Special Purpose Vehicle (SPV) as of December 19, 2018. The DIB SPV was registered as a limited liability company (LLC) at the Companies Registrar (Ministry of National Economy) with the name of Finance for Jobs Consultancy Services LLC and was formally functioning. F4J1 project signed the Funding and Performance Agreement with the DIB SPV in October 2019.
