YF Innovation Serbia

Development Objective

The development objective of the project is to assist in building the institutional capacity to stimulate innovative activities in the enterprise sector by: i. Supporting the operationalization of the Serbia Innovation Fund (SIF); ii. Piloting financial instruments for technological development and innovation in enterprises; and iii. Encouraging selected research and development institutes (RDIs) to engage in technology transfer and commercialization, and assisting in formulating RDI sector reform policy.

Key Details

Project Details

Project ID
P126229
Status
Closed
Team Leader
Natasha Kapil
Borrower 2
Ministry of Education Science and Technological Development

Country
Serbia
Disclosure Date
July 26, 2011
Approval Date
(as of board presentation)
November 23, 2011
Effective Date
December 8, 2011

Total Project Cost 1
US$ 12.85 million
Implementing Agency
Serbia Innovation Fund
Region
Europe and Central Asia
Fiscal Year 3
2012

Commitment Amount
US$ 10.00 million
Environmental Category
B
Environmental and Social Risk
Not Applicable
Closing Date
January 10, 2016

Consultant Services required
TBD
Last Stage Reached
BANK APPROVED
Last Update Date
February 27, 2020

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 - Private Sector Development

FY17 - Business Enabling Environment100%
- FY17 - Innovation and Technology Policy100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
Free-standing TFs for ECA PF Sector Unit	10.00
Borrower/Recipient	2.84

Total Project Financing (US$ Millions)

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

Lending Instrument
Grant Amount	10.00
Total Project Cost**	12.85

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

No data available.

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Counterpart Funding	Satisfactory	2016-01-11
Monitoring and Evaluation	Satisfactory	2016-01-11
Progress towards achievement of PDO	Satisfactory	2016-01-11
Procurement	Satisfactory	2016-01-11
Financial Management	Satisfactory	2016-01-11
Overall Implementation Progress (IP)	Satisfactory	2016-01-11
Project Management	Satisfactory	2016-01-11

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 10-08-2016
Outcomes	Substantial
Risk to Development Outcome	Negligible
Bank Performance	Substantial
Borrower Performance	Substantial
Government Performance	Moderately Satisfactory
Implementing Agency	Substantial

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 02-13-2017	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome	Negligible	N/a
Bank Performance	Satisfactory	N/a
Borrower Performance	Satisfactory	N/a
Government Performance	Moderately Satisfactory	N/a
Implementing Agency	Highly Satisfactory	N/a
Icr Quality	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Dissemination of policy recommendations for RDI sector reform	Value	No strategy policy exists.	Policy Note and Action Plan delivered to MOESTD	Disseminated to stakeholders
	Date	December 5, 2011	January 4, 2016	November 30, 2014
	Comment

Amount of Innovation financing mobilized by SIF in addition to this EU IPA project. Value 0.00 59137260.00 29850746.00
Date December 5, 2011 December 11, 2015 November 30, 2014
Comment
Number of active technology start-ups funded Value 0.00 38.00 10.00
Date December 5, 2011 December 11, 2015 November 30, 2014
Comment
Number of new products and processes launched by beneficiary enterprises. Value 0.00 10.00 8.00
Date December 5, 2011 August 1, 2014 November 30, 2014
Comment
Number of technologies transferred by RDIs Value 0.00 2.00 3.00
Date December 5, 2011 January 4, 2016 November 30, 2014
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of networking and educational events organized for enterprses, academia and research. Value 0.00 23.00 8.00
Date December 5, 2011 December 11, 2015 November 30, 2014
Comment
Number of funded projects Value 0.00 23.00 20.00
Date December 5, 2011 April 30, 2013 November 30, 2014
Comment
Number of funded enterprises Value 0.00 53.00 15.00
Date December 5, 2011 August 1, 2014 November 30, 2014
Comment
Number of SIF managers trained and applying newly learnt skills. Value 0.00 10.00 4.00
Date December 5, 2011 December 11, 2015 November 30, 2014
Comment
Number of start-ups mentored Value 0.00 51.00 10.00
Date December 5, 2011 December 11, 2015 November 30, 2014
Comment
Mechanism to support training/mentoring for innovative start-ups established Value 0 Yes Yes
Date December 5, 2011 April 30, 2013 November 30, 2014
Comment
Number of RDIs identified for technology transfer and commercialization support Value 0.00 10.00 4.00
Date December 5, 2011 August 1, 2014 November 30, 2014
Comment
Number of RDIs assessed jointly by international experts & RDI management Value 0.00 5.00 2.00
Date December 5, 2011 August 1, 2014 November 30, 2014
Comment
Number of financial instruments designed and introduced. Value 0.00 2.00 3.00
Date December 5, 2011 August 1, 2014 November 30, 2014
Comment

Amount of Innovation financing mobilized by SIF in addition to this EU IPA project.	Value	0.00	59137260.00	29850746.00
	Date	December 5, 2011	December 11, 2015	November 30, 2014
	Comment

Number of funded projects	Value	0.00	23.00	20.00
	Date	December 5, 2011	April 30, 2013	November 30, 2014
	Comment

Number of funded enterprises	Value	0.00	53.00	15.00
	Date	December 5, 2011	August 1, 2014	November 30, 2014
	Comment

Number of start-ups mentored	Value	0.00	51.00	10.00
	Date	December 5, 2011	December 11, 2015	November 30, 2014
	Comment