| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 21.92 |
Croatia Innovation and Entrepreneurship Venture Capital Project
Abstract*
The development objective of the Innovation and Entrepreneurship Venture Capital Project for Croatia is to strengthen risk capital financing for innovative small and medium enterprises (SMEs) and startups in Croatia. The project comprises of three components. The first component, pilot venture capital fund will consist of both public and private financing, in a ratio consistent with European Union (EU) state aid regulation. It will be established... Show More
Development Objective
The project development objective is to strengthen risk capital financing for innovative SMEs and startups in Croatia
Key Details
Project Details
P152130
Closed
Francesca de Nicola , Austin Kilroy
Republic of Croatia - Ministry of Finance
December 9, 2014
(as of board presentation)
July 7, 2015
October 6, 2015
US$ 21.92 million
Hamag-Bicro
2016
US$ 21.92 million
F
November 27, 2023
December 31, 2017
TBD
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 21.92 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 21.92 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 21.92 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Nov 15, 2016 | IBRD-85180 | Int Charges | 26,516.65 |
| Nov 15, 2016 | IBRD-85180 | Int Charges | 508.97 |
| May 26, 2017 | IBRD-85180 | Loan Disb | 87,273.70 |
| May 15, 2017 | IBRD-85180 | Int Charges | 26,499.58 |
| May 15, 2017 | IBRD-85180 | Int Charges | 551.51 |
| Oct 6, 2017 | IBRD-85180 | Loan Cancel | 14,049,600.00 |
| Dec 6, 2017 | IBRD-85180 | Loan Cancel | 8,767,505.00 |
| Jul 7, 2015 | IBRD-85180 | Loan Commitment | 21,915,000.00 |
| Nov 15, 2017 | IBRD-85180 | Int Charges | 29,005.25 |
| Nov 15, 2017 | IBRD-85180 | Int Charges | 694.10 |
| Jun 26, 2018 | IBRD-85180 | Loan Cancel | 328,542.60 |
| Jun 26, 2018 | IBRD-85180 | Loan Disb | -328,542.60 |
| May 15, 2018 | IBRD-85180 | Int Charges | -2,645.92 |
| May 15, 2018 | IBRD-85180 | Int Charges | 623.16 |
| Nov 15, 2018 | IBRD-85180 | Int Charges | 416.94 |
| Nov 26, 2018 | IBRD-85180 | Loan Repay | 1,510.73 |
| Nov 26, 2018 | IBRD-85180 | Int Charges | 23.67 |
| Nov 26, 2018 | IBRD-85180 | Loan Repay | 335,321.12 |
| May 15, 2016 | IBRD-85180 | Int Charges | 10,879.26 |
| May 15, 2016 | IBRD-85180 | Int Charges | 28,228.72 |
| Oct 14, 2015 | IBRD-85180 | Fee Charges | 57,027.50 |
| Jun 20, 2016 | IBRD-85180 | Loan Disb | 566,475.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Monitoring and Evaluation | Moderately Unsatisfactory | 2017-12-22 |
| Overall Implementation Progress (IP) | Unsatisfactory | 2017-12-22 |
| Procurement | Satisfactory | 2017-12-22 |
| Financial Management | Moderately Satisfactory | 2017-12-22 |
| Progress towards achievement of PDO | Unsatisfactory | 2017-12-22 |
| Project Management | Moderately Satisfactory | 2017-12-22 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Total number of firms receiving risk capital financing from the Seed Co-investment Fund Value 0.00 2.00 15.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Total number of firms receiving risk capital financing from the Venture Capital Fund Value 0.00 0.00 12.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Number of firms receiving investment that successfully introduced a new product, process, service, or upgraded the quality of an ex isting product, process, or service Value 0.00 0.00 14.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Training provided (to government staff, investors and potential investees) under the Project Value 0.00 0.00 133.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Co-investors in firms alongside the Seed Co-Investment Fund Value 0.00 2.00 8.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Total amount of risk capital financing provided by the public sector through the Pilot VC Fund and by the private sector investing in the fund Value 0.00 0.00 21.92 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Private sector investment leveraged by the Seed Co-Investment Fund Value 0.00 0.00 3.29 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Training provided to potential investees (entrepreneurs) Value 0.00 0.00 44.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Total amount of risk capital financing provided from the Seed Co-Investment Fund and leveraged from private investors Value 0.00 0.00 5.48 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Private sector investment leveraged into the Pilot VC Fund Value 0.00 0.00 8.77 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Training provided to investors under the Project Value 0.00 0.00 44.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Training provided to female investees (entrepreneurs) Value 0.00 0.00 4.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Co-investors in the Pilot VC Fund Value 0.00 0.00 4.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Training provided to government officials Value 0.00 0.00 44.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Training provided to female government officials Value 0.00 0.00 4.00 Date October 1, 2015 December 18, 2017 October 1, 2020 Comment Number of SMEs/startups satisfied with quality of services provided under the Project Value 0.00 0.00 27.00 Date October 1, 2015 December 18, 2017 May 1, 2020 Comment