Document of The World Bank FOR OFFICIAL USE ONLY Public Disclosure Authorized Report No: ICR00004739 IMPLEMENTATION COMPLETION AND RESULTS REPORT 5101-LR ON A CREDIT Public Disclosure Authorized IN THE AMOUNT OF SDR 9,700,000 MILLION (US$15 MILLION EQUIVALENT) TO THE REPUBLIC OF LIBERIA FOR THE Public Disclosure Authorized LIBERIA SMALLHOLDER TREE CROP REVITALIZATION SUPPORT PROJECT June 28, 2019 Agriculture Global Practice Africa Region Public Disclosure Authorized CURRENCY EQUIVALENTS (Exchange Rate Effective {June 20, 2019}) Currency Unit = USD US$ 1.38 = SDR 1 FISCAL YEAR July 1 - June 30 Regional Vice President: Hafez M. H. Ghanem Country Director: Henry G. Kerali Senior Global Practice Director: Juergen Voegele Practice Manager: Marianne Grosclaude Task Team Leader(s): Abimbola Adubi ICR Main Contributor: Jeanette M. Sutherland ABBREVIATIONS AND ACRONYMS AfT Agenda for Transformation BCR Benefit Cost Ratio CBL Central Bank of Liberia CDA Cooperative Development Agency CPF Country Partnership Framework CPS Country Partnership Strategy EIRR Economic Internal Rate of Return ERR Economic Rate of Return EPA Environmental Protection Agency EPO-LIBINCO Equatorial Palm Oil-Liberia Operations Inc ESMP Environmental and Social Management Plan ESMT Environmental and Social Management Team FCV Fragility, Conflict and Violence FFS Farmer Field School FM Financial Management FO Farmer Organization GDP Gross Domestic Product GoL Government of Liberia HIPC Heavily Indebted Poor Country ICR Implementation Completion Results Review IRR Internal Rate of Return ISR Implementation Status and Results Report LASIP Liberia Agriculture Support Investment Program LTCS Long-Term Credit Scheme MARCO Morris American Rubber Company MFDP Ministry of Finance and Development Planning MoA Ministry of Agriculture NPV Net Present Value M&E Monitoring and Evaluation MIS Management Information System PAD Project Appraisal Document PFIs Participating Financial Institutions PIU Project Implementation Unit SMART Specific, Measurable, Achievable, Relevant, and Time-bound SRC Salala Rubber Corporation STCRSP Smallholder Tree Crop Revitalization and Support Project ToC Theory of Change TABLE OF CONTENTS DATA SHEET ...............................................................................................................................1 I. PROJECT CONTEXT AND DEVELOPMENT OBJECTIVES ....................................................... 6 A. CONTEXT AT APPRAISAL .........................................................................................................6 B. SIGNIFICANT CHANGES DURING IMPLEMENTATION .............................................................. 10 II. OUTCOME .................................................................................................................... 13 A. RELEVANCE OF PDOs ............................................................................................................ 13 B. ACHIEVEMENT OF PDOs (EFFICACY) ...................................................................................... 14 C. EFFICIENCY ........................................................................................................................... 20 D. JUSTIFICATION OF OVERALL OUTCOME RATING .................................................................... 21 III. KEY FACTORS THAT AFFECTED IMPLEMENTATION AND OUTCOME ................................ 24 A. KEY FACTORS DURING PREPARATION ................................................................................ 24 B. KEY FACTORS DURING IMPLEMENTATION ............................................................................. 26 IV. BANK PERFORMANCE, COMPLIANCE ISSUES, AND RISK TO DEVELOPMENT OUTCOME .. 26 A. QUALITY OF MONITORING AND EVALUATION (M&E) ............................................................ 26 B. ENVIRONMENTAL, SOCIAL, AND FIDUCIARY COMPLIANCE ..................................................... 28 C. BANK PERFORMANCE ........................................................................................................... 29 D. RISK TO DEVELOPMENT OUTCOME ....................................................................................... 31 V. LESSONS AND RECOMMENDATIONS ............................................................................. 31 ANNEX 1. RESULTS FRAMEWORK AND KEY OUTPUTS ........................................................... 33 ANNEX 2. BANK LENDING AND IMPLEMENTATION SUPPORT/SUPERVISION ......................... 47 ANNEX 3. PROJECT COST BY COMPONENT ........................................................................... 49 ANNEX 4. EFFICIENCY ANALYSIS ........................................................................................... 50 ANNEX 5. BORROWER, CO-FINANCIER AND OTHER PARTNER/STAKEHOLDER COMMENTS ... 61 ANNEX 6. TABLES REFERENCED IN THE REPORT .................................................................... 63 The World Bank LR Smallholder Tree Crop Revitalization Support Project (P113273) DATA SHEET BASIC INFORMATION Product Information Project ID Project Name P113273 LR Smallholder Tree Crop Revitalization Support Project Country Financing Instrument Liberia Investment Project Financing Original EA Category Revised EA Category Partial Assessment (B) Partial Assessment (B) Organizations Borrower Implementing Agency Ministry Of Finance and Development Planning Ministry of Agriculture Project Development Objective (PDO) Original PDO “To increase access to finance, inputs, technologies and markets for smallholder tree crop farmers in Liberia, and to develop a long term development program for the tree crops sector” Page 1 of 74 The World Bank LR Smallholder Tree Crop Revitalization Support Project (P113273) FINANCING Original Amount (US$) Revised Amount (US$) Actual Disbursed (US$) World Bank Financing 15,000,000 15,000,000 13,732,883 IDA-51010 Total 15,000,000 15,000,000 13,732,883 Non-World Bank Financing 0 0 0 Borrower/Recipient 0 0 0 Total 0 0 0 Total Project Cost 15,000,000 15,000,000 13,732,883 KEY DATES ApprovalFIN_TABLE_DAT Effectiveness MTR Review Original Closing Actual Closing 05-Jun-2012 13-May-2013 03-Nov-2015 31-Dec-2016 30-Nov-2018 RESTRUCTURING AND/OR ADDITIONAL FINANCING Date(s) Amount Disbursed (US$M) Key Revisions 28-Jul-2014 3.64 Change in Legal Covenants 11-May-2016 7.51 Change in Results Framework Change in Components and Cost Change in Loan Closing Date(s) Reallocation between Disbursement Categories 10-Oct-2018 13.31 Reallocation between Disbursement Categories KEY RATINGS Outcome Bank Performance M&E Quality Moderately Satisfactory Moderately Satisfactory Modest Page 2 of 74 The World Bank LR Smallholder Tree Crop Revitalization Support Project (P113273) RATINGS OF PROJECT PERFORMANCE IN ISRs Actual No. Date ISR Archived DO Rating IP Rating Disbursements (US$M) 01 26-Dec-2012 Satisfactory Satisfactory 1.03 02 25-Jun-2013 Satisfactory Satisfactory 1.04 03 12-Mar-2014 Satisfactory Satisfactory 2.04 04 15-Jun-2014 Moderately Satisfactory Moderately Satisfactory 2.80 05 10-Dec-2014 Moderately Satisfactory Moderately Satisfactory 3.64 06 18-Jun-2015 Moderately Satisfactory Moderately Satisfactory 5.01 07 28-Aug-2015 Moderately Satisfactory Moderately Satisfactory 6.02 08 20-Dec-2015 Moderately Satisfactory Moderately Satisfactory 6.26 09 18-Jun-2016 Moderately Satisfactory Moderately Satisfactory 7.82 10 23-Nov-2016 Moderately Satisfactory Moderately Satisfactory 8.68 11 15-Jun-2017 Moderately Satisfactory Moderately Satisfactory 11.14 12 21-Jan-2018 Moderately Satisfactory Moderately Satisfactory 12.53 13 26-Oct-2018 Moderately Satisfactory Moderately Satisfactory 13.31 SECTORS AND THEMES Sectors Major Sector/Sector (%) Agriculture, Fishing and Forestry 80 Agricultural Extension, Research, and Other Support 10 Activities Crops 35 Public Administration - Agriculture, Fishing & Forestry 35 Public Administration 10 Sub-National Government 10 Page 3 of 74 The World Bank LR Smallholder Tree Crop Revitalization Support Project (P113273) Transportation 10 Rural and Inter-Urban Roads 10 Themes Major Theme/ Theme (Level 2)/ Theme (Level 3) (%) Private Sector Development 100 Jobs 100 Finance 15 Finance for Development 15 Agriculture Finance 15 Urban and Rural Development 58 Rural Development 58 Rural Markets 15 Rural Infrastructure and service delivery 30 Land Administration and Management 13 Environment and Natural Resource Management 90 Climate change 64 Mitigation 64 Renewable Natural Resources Asset Management 26 Biodiversity 13 Landscape Management 13 ADM STAFF Role At Approval At ICR Regional Vice President: Obiageli Katryn Ezekwesili Hafez M. H. Ghanem Country Director: Yusupha B. Crookes Henry G. R. Kerali Senior Global Practice Director: Jamal Saghir Juergen Voegele Practice Manager: Karen Mcconnell Brooks Marianne Grosclaude Page 4 of 74 The World Bank LR Smallholder Tree Crop Revitalization Support Project (P113273) Task Team Leader(s): Oliver Braedt Abimbola Adubi ICR Contributing Author: Jeanette M. Sutherland Page 5 of 74 The World Bank LR Smallholder Tree Crop Revitalization Support Project (P113273) I. PROJECT CONTEXT AND DEVELOPMENT OBJECTIVES A. CONTEXT AT APPRAISAL Context 1. Fragility, conflict, and violence (FCV) have affected Liberia after two devastating civil wars, one each in the 1990s and early 2000s, but the country was experiencing relative peace and stability at the time of appraisal and was going through its second democratic election, since the end of the conflict in 2003. The incumbent Administration was re-elected in November