Georgia National Innovation Ecosystem (GENIE) Project

Abstract*

The development objective of the National Innovation Ecosystem (GENIE) Project for Georgia is to increase innovative activities of firms and individuals in the Borrower’s territory and their participation in the digital economy. The project comprises of four components. The first component, innovation infrastructure will: (a) develop a network of innovation hubs and innovation centers in selected cities, towns, and villages of the Borrower, as set... Show More

Development Objective

The PDO is to increase innovative activities of firms and individuals in the Borrower's territory and their participation inthe digital economy.

Key Details

Project Details

Project ID
P152441
Status
Closed
Team Leader
Ifeyinwa Bonheur , Natalia Tsivadze
Borrower 2
Ministry of Finance,Ministry of Economy and Sustainable Development

Country
Georgia
Disclosure Date
April 7, 2015
Approval Date
(as of board presentation)
March 18, 2016
Effective Date
July 21, 2016

Total Project Cost 1
US$ 23.40 million
Implementing Agency
Shota Rustaveli National Science Foundation,Georgia's Innovation and Technology Agency
Region
Europe and Central Asia
Fiscal Year 3
2016

Commitment Amount
US$ 23.40 million
Environmental Category
B
Last Update Date
February 27, 2024
Closing Date
March 31, 2023

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Infrastructure and Access23%
- FY17 - MSME Finance23%

FY17 - Human Development and Gender

FY17 - Education16%
- FY17 - Access to Education4%
- FY17 - Science and Technology4%
- FY17 - Standards, Curriculum and Textbooks4%
- FY17 - Teachers4%

FY17 - Private Sector Development

FY17 - Business Enabling Environment20%
- FY17 - Innovation and Technology Policy20%
FY17 - Enterprise Development23%
- FY17 - MSME Development23%
FY17 - Jobs7%
- FY17 - Job Creation7%

FY17 - Urban and Rural Development

FY17 - Rural Development7%
- FY17 - Rural Infrastructure and service delivery7%
FY17 - Urban Development7%
- FY17 - Urban Infrastructure and Service Delivery7%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	23.40

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	23.40
IDA Commitment	N/A
IBRD + IDA Commitment	23.40

Lending Instrument
Grant Amount	N/A
Total Project Cost**	23.40

Summary Status of World Bank Financing (US$ Millions) as of February 28, 2025

No data available.

Detailed Financial Activity as of February 28, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Dec 15, 2023	IBRD-85950	Loan Disb	-563,064.94
Mar 15, 2024	IBRD-85950	Int Charges	11,715.33
Mar 15, 2024	IBRD-85950	Int Charges	1,180.02
Mar 15, 2024	IBRD-85950	Int Charges	765,170.30
Mar 18, 2016	IBRD-85950	Loan Commitment	40,000,000.00
Feb 28, 2022	IBRD-85950	Loan Disb	3,500,000.00
Sep 15, 2022	IBRD-85950	Int Charges	359.59
Sep 15, 2022	IBRD-85950	Int Charges	1,361.25
Sep 15, 2022	IBRD-85950	Int Charges	619.96
Sep 15, 2022	IBRD-85950	Int Charges	251,211.81
Feb 28, 2023	IBRD-85950	Loan Disb	-174,530.16
Mar 15, 2023	IBRD-85950	Int Charges	26,242.93
Mar 15, 2023	IBRD-85950	Int Charges	609.85
Mar 15, 2023	IBRD-85950	Int Charges	615,194.90
Sep 15, 2023	IBRD-85950	Int Charges	839.90
Sep 15, 2023	IBRD-85950	Int Charges	701,435.30
Sep 15, 2023	IBRD-85950	Int Charges	8,348.15
Sep 15, 2023	IBRD-85950	Int Charges	17.93
Aug 17, 2020	IBRD-85950	Loan Disb	389,711.10
Jul 7, 2020	IBRD-85950	Loan Disb	2,000,000.00
Sep 15, 2020	IBRD-85950	Int Charges	1,552.27
Sep 15, 2020	IBRD-85950	Int Charges	17,748.41
Sep 15, 2020	IBRD-85950	Int Charges	81,432.46
Dec 17, 2020	IBRD-85950	Loan Disb	399,624.97
Aug 21, 2020	IBRD-85950	Loan Disb	397,281.78
Mar 15, 2021	IBRD-85950	Int Charges	869.46
Mar 15, 2021	IBRD-85950	Int Charges	12,288.34
Mar 15, 2021	IBRD-85950	Int Charges	87,164.40
Mar 15, 2021	IBRD-85950	Int Charges	145.04
Dec 3, 2020	IBRD-85950	Loan Disb	394,962.40
Mar 3, 2021	IBRD-85950	Loan Disb	386,475.12
Nov 30, 2020	IBRD-85950	Loan Disb	3,000,000.00
Apr 7, 2021	IBRD-85950	Loan Disb	380,032.80
Jun 1, 2021	IBRD-85950	Loan Disb	3,400,000.00
Jun 25, 2021	IBRD-85950	Loan Disb	160,000.00
Sep 15, 2021	IBRD-85950	Int Charges	7,019.00
Sep 15, 2021	IBRD-85950	Int Charges	110,890.69
Sep 15, 2021	IBRD-85950	Int Charges	31.77
Sep 15, 2021	IBRD-85950	Int Charges	133.13
Mar 15, 2022	IBRD-85950	Int Charges	4,589.30
Mar 15, 2022	IBRD-85950	Int Charges	115,737.15
Mar 15, 2019	IBRD-85950	Int Charges	45,197.26
Mar 15, 2019	IBRD-85950	Int Charges	57,115.56
Mar 15, 2019	IBRD-85950	Int Charges	171.24
Mar 15, 2019	IBRD-85950	Int Charges	2,092.65
Nov 25, 2019	IBRD-85950	Loan Disb	1,000,000.00
Jan 23, 2019	IBRD-85950	Loan Cancel	16,500,000.00
Sep 15, 2019	IBRD-85950	Int Charges	5,689.22
Sep 15, 2019	IBRD-85950	Int Charges	43,857.52
Sep 15, 2019	IBRD-85950	Int Charges	424.66
Sep 15, 2019	IBRD-85950	Int Charges	97,806.22
Mar 15, 2020	IBRD-85950	Int Charges	-4,666.70
Mar 15, 2020	IBRD-85950	Int Charges	4,666.70
Mar 15, 2020	IBRD-85950	Int Charges	84,761.46
Mar 5, 2020	IBRD-85950	Loan Disb	2,000,000.00
Apr 29, 2020	IBRD-85950	Loan Disb	400,000.00
Sep 14, 2016	IBRD-85950	Loan Disb	500,000.00
Jul 21, 2016	IBRD-85950	Loan Disb	100,000.00
Jul 21, 2016	IBRD-85950	Fee Charges	100,000.00
Mar 15, 2017	IBRD-85950	Int Charges	30,286.20
Mar 15, 2017	IBRD-85950	Int Charges	301.62
Mar 15, 2017	IBRD-85950	Int Charges	48,765.57
Mar 15, 2017	IBRD-85950	Int Charges	6,516.00
Jun 20, 2017	IBRD-85950	Loan Disb	1,600,000.00
Mar 15, 2018	IBRD-85950	Int Charges	46,861.66
Mar 15, 2018	IBRD-85950	Int Charges	26,657.27
Sep 15, 2017	IBRD-85950	Int Charges	48,701.38
Sep 15, 2017	IBRD-85950	Int Charges	16,432.01
Sep 15, 2018	IBRD-85950	Int Charges	47,467.12
Sep 15, 2018	IBRD-85950	Int Charges	36,656.90
Aug 21, 2018	IBRD-85950	Loan Disb	1,000,000.00
Feb 12, 2019	IBRD-85950	Loan Disb	2,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Satisfactory	2022-12-01
Monitoring and Evaluation	Satisfactory	2022-12-01
Overall Implementation Progress (IP)	Satisfactory	2022-12-01
Procurement	Moderately Satisfactory	2022-12-01
Project Management	Satisfactory	2022-12-01
Financial Management	Satisfactory	2022-12-01
Overall Safeguards Rating	Satisfactory	2022-12-01

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 11-27-2023
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 03-13-2024	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

New/improved products/services introduced to existing or new markets by Project beneficiaries Value 0.00 91.00 70.00
Date December 31, 2015 March 31, 2023 November 23, 2022
Comment
Startups financed by project beneficiaries Value 0.00 138.00 140.00
Date December 31, 2015 March 31, 2023 November 23, 2022
Comment
Access to Internet Services (number of beneficiaries subscribed) Value 0.00 1380.00 1200.00
Date December 31, 2014 March 31, 2023 November 23, 2022
Comment
Private financing catalyzed through GENIE programs Value 0.00 105216255.00 7000000.00
Date July 29, 2016 March 31, 2023 November 23, 2022
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

RIHs established, equipped, and operational Value 0.00 3.00 0.00
Date December 31, 2015 March 31, 2023
Comment
Participants in structured digital skills training programs Value 0.00 3101.00 0.00
Date August 11, 2020 March 31, 2023
Comment
Direct project beneficiaries Value 0.00 52028.00 35000.00
Date December 31, 2015 March 31, 2023 November 30, 2022
Comment
CICs established, equipped, and operational Value 0.00 4.00 0.00
Date December 31, 2015 March 31, 2023
Comment
Female beneficiaries Value 0.00 17.50 0.00
Date December 31, 2015
Comment
Visitors to CICs and RIHs Value 0.00 45392.00 0.00
Date December 31, 2015 March 31, 2023
Comment
Citizen engagement: user feedback collected from project beneficiaries Value 0.00 19347.00 13750.00
Date July 1, 2015 May 31, 2022 November 30, 2022
Comment
Full-time employees hired by start-ups that have received financing, coaching or mentoring Value 0.00 1649.00 600.00
Date July 29, 2016 May 31, 2022 November 30, 2022
Comment
Beneficiaries of business coaching or eCommerce training Value 0.00 2115.00 2000.00
Date December 31, 2015 March 31, 2023 November 30, 2022
Comment
Revenue of start-ups that have received financing, coaching or mentoring Value 0.00 32891279.00 4000000.00
Date July 29, 2016 March 31, 2023 November 30, 2022
Comment
Participants in online programs led by RIHs & CICs Value 0.00 3161.00 0.00
Date December 31, 2015 March 31, 2023
Comment
Individuals obtaining international certification through project training programs Value 0.00 1408.00 0.00
Date August 4, 2020 March 31, 2023
Comment
Female visitors to CICs and RIHs / participants in online programs Value 0.00 52.00 50.00
Date December 31, 2015 March 31, 2023 November 30, 2022
Comment
Females receiving structured training, coaching, mentoring or technical assistance Value 0.00 50.00 50.00
Date July 1, 2016 March 31, 2023 November 30, 2022
Comment

New/improved products/services introduced to existing or new markets by Project beneficiaries	Value	0.00	91.00	70.00
	Date	December 31, 2015	March 31, 2023	November 23, 2022
	Comment

Direct project beneficiaries	Value	0.00	52028.00	35000.00
	Date	December 31, 2015	March 31, 2023	November 30, 2022
	Comment

Female beneficiaries	Value	0.00	17.50	0.00
	Date	December 31, 2015
	Comment

Visitors to CICs and RIHs	Value	0.00	45392.00	0.00
	Date	December 31, 2015	March 31, 2023
	Comment

Full-time employees hired by start-ups that have received financing, coaching or mentoring	Value	0.00	1649.00	600.00
	Date	July 29, 2016	May 31, 2022	November 30, 2022
	Comment

Females receiving structured training, coaching, mentoring or technical assistance	Value	0.00	50.00	50.00
	Date	July 1, 2016	March 31, 2023	November 30, 2022
	Comment