| Financier | Commitments |
|---|---|
| International Bank for Reconstruction and Development | 50.00 |
Private Sector Competitiveness DPO2
Abstract*
The Program Development Objective is to increase private sector competitiveness through second generation business environment reforms, establishing enabling conditions for financial sector deepening and diversification, and increasing firms’ capacity to innovate and to export.The proposed Second Programmatic Private Sector Competitiveness Development Policy Operation (DPO2) to Georgia in the amount of EUR 44.6 million aims to support the government’s... Show More
Development Objective
This is the second in a series of three DPOs aimed at strengthening shared prosperity and reducing poverty in Georgia through policies that stimulate private sector dynamism and productivity, foster investment in high value-added production, and create a fair business environment.
The proposed Program Development Objective is to accelerate private sector competitiveness by improving the business environment, deepening access to finance and increasing the country’s capacity to innovate and export.
The proposed DPO series is in line with the CPS FY2014-17, and contributes to the CPS goal of enabling private sector job creation, and will also contribute to deepening competitiveness reforms, a priority in the 2012 ECA Regional Strategy of the WBG.
Key Details
Project Details
P155553
Closed
John Goddard Lopez
Ministry of Finance
February 26, 2016
(as of board presentation)
July 31, 2017
September 22, 2017
US$ 50.00 million
Ministry of Finance,Ministry of Economy and Sustainable Development
2018
US$ 50.00 million
N/A
November 27, 2023
July 31, 2018
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 50.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 50.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 50.00 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Jul 15, 2022 | IBRD-87750 | Int Charges | 101,502.85 |
| Jan 15, 2020 | IBRD-87750 | Int Charges | 165,181.14 |
| Sep 22, 2017 | IBRD-87750 | Loan Disb | 133,415.33 |
| Sep 22, 2017 | IBRD-87750 | Fee Charges | 133,415.33 |
| Jan 15, 2023 | IBRD-87750 | Int Charges | 327,799.20 |
| Jan 15, 2018 | IBRD-87750 | Int Charges | 111,518.96 |
| Jul 15, 2023 | IBRD-87750 | Int Charges | 953,549.00 |
| Jul 15, 2018 | IBRD-87750 | Int Charges | 179,859.89 |
| Jan 15, 2019 | IBRD-87750 | Int Charges | 185,033.23 |
| Jul 15, 2021 | IBRD-87750 | Int Charges | 129,852.71 |
| Jan 15, 2021 | IBRD-87750 | Int Charges | 185,170.12 |
| Jul 15, 2020 | IBRD-87750 | Int Charges | 170,252.17 |
| Jul 31, 2017 | IBRD-87750 | Loan Commitment | 50,000,000.00 |
| Jul 15, 2024 | IBRD-87750 | Int Charges | 1,207,841.60 |
| Sep 29, 2017 | IBRD-87750 | Loan Disb | 52,552,040.00 |
| Jan 15, 2024 | IBRD-87750 | Int Charges | 1,215,107.60 |
| Jul 15, 2019 | IBRD-87750 | Int Charges | 192,201.44 |
| Jan 15, 2022 | IBRD-87750 | Int Charges | 135,754.38 |
Ratings
IMPLEMENTATION RATINGS
No data available.
COMPLETION RATINGS
| INDICATOR | IMPLEMENTATION COMPLETION & RESULTS REPORT: 07-30-2019 |
|---|---|
| Outcomes | Substantial |
| Risk to Development Outcome | Negligible |
| Bank Performance | Substantial |
| Borrower Performance | Substantial |
| Government Performance | Substantial |
| Implementing Agency | Highly Satisfactory |
INDEPENDENT EVALUATION RATINGS
| INDICATOR | ICR REVIEW: 01-10-2020 | 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 | Satisfactory | N/a |
| Implementing Agency | Not Rated | N/a |
| Icr Quality | Substantial | N/a |
| M&e Quality | Substantial | N/a |
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of SMEs and entrepreneurs using EDA services Value 0 8,000 (of which 37% are women entrepreneurs) Date December 31, 2013 June 29, 2018 December 31, 2018 Comment Incremental private investment in the telecommunications sector Value 0.00 0.00 50000000.00 Date December 31, 2013 December 29, 2017 December 31, 2018 Comment At least four (4) major economic reforms, including respective draft laws are reviewed by the Investors Council Value 0 At least four (4) major economic reforms, includin Date December 31, 2013 June 29, 2018 December 31, 2018 Comment The Pension Agency is established, an Investment Board is selected, and information technology systems are set up to accept contributions following the enactment of the Pension Law. Value No system placed. The Pension Agency is established, an Investment B Date December 31, 2013 June 29, 2018 December 31, 2018 Comment Insurance companies that are in compliance with EU solvency I margin requirements Value 0.00 0.00 100.00 Date December 31, 2013 June 29, 2018 December 31, 2018 Comment Broadband Internet subscriptions Value 33.00 0.00 45.00 Date December 31, 2013 December 29, 2017 December 31, 2018 Comment Number of firms/individuals that obtained innovation finance from GITA Value 0 300 (25 percent are female entrepreneurs) Date December 31, 2013 June 27, 2018 December 31, 2018 Comment 2 technology parks (1 in Tbilisi and 1 in the region) and 8 fabrication laboratories are functioning (Equipped, team appointed, andopen to the public) Value N/A 2 technology parks (1 in Tbilisi and 1 in the regi Date December 31, 2013 June 27, 2018 December 31, 2018 Comment Number of certificates issued by GeoSTM Value 842 2,105 Date December 31, 2013 June 29, 2018 December 31, 2018 Comment Number of certificates issues by calibration/verification entities that received traceability from GeoSTM Value 1800 7,200 Date December 31, 2013 June 29, 2018 December 31, 2018 Comment Deposit insurance coverage for household deposits in effect from 2018; the Deposit Insurance Agency is operational (Charter approved by Government, Director appointed by Board, Banks make initial cont Value No DIS Agency Deposit insurance coverage for household deposits Date December 31, 2013 June 29, 2018 December 31, 2018 Comment Number of registered users in the e-Procurement system Value 19666.00 0.00 36400.00 Date December 31, 2013 June 18, 2018 December 31, 2018 Comment Number of SPA tenders monitored for unlawful practices Value 13000.00 0.00 45000.00 Date December 31, 2013 June 18, 2018 December 31, 2018 Comment All Public Interest Entities (estimated at 300) are obliged to start filing financial statements based on IFRS from 2017, large andmedium companies start the process in 2018, and the financial statem Value Only commercial banks and insurance companies are All Public Interest Entities (estimated at 300) ar Date December 31, 2013 June 29, 2018 December 31, 2018 Comment