Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) Georgia National Innovation Ecosystem (GENIE) Project (P152441) EUROPE AND CENTRAL ASIA | Georgia | Finance, Competitiveness and Innovation Global Practice | IBRD/IDA | Investment Project Financing | FY 2016 | Seq No: 4 | ARCHIVED on 28-Jan-2018 | ISR30752 | Implementing Agencies: Ministry of Economy and Sustainable Development, Georgia's Innovation and Technology Agency, Ministry of Finance Key Dates Key Project Dates Bank Approval Date:18-Mar-2016 Effectiveness Date:21-Jul-2016 Planned Mid Term Review Date:01-Oct-2018 Actual Mid-Term Review Date:-- Original Closing Date:30-Apr-2021 Revised Closing Date:30-Apr-2021 Project Development Objectives Project Development Objective (from Project Appraisal Document)

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

Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Innovation Infrastructure:(Cost $14.70 M) Innovation Services:(Cost $13.40 M) Innovation Financing:(Cost $9.00 M) Project Implementation Support:(Cost $2.80 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Satisfactory  Moderately Unsatisfactory Overall Implementation Progress (IP)  Moderately Unsatisfactory  Unsatisfactory Overall Risk Rating  Substantial  Substantial 1/28/2018 Page 1 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) Implementation Status and Key Decisions The Project was approved in March 2016, and was declared effective in July 2016. The Project is approximately one year behind the original schedule in terms of results, due to constraints related to infrastructure, institutional, and financial capacity. The proposed Government budget allocation for this project in 2018 is lower than the amount originally planned during project design, which could have further negative impacts on the planned pace of implementation. Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  Moderate  Substantial  Substantial Macroeconomic  Moderate  Substantial  Moderate Sector Strategies and Policies  Moderate  Moderate  Moderate Technical Design of Project or Program  Substantial  Substantial  Substantial Institutional Capacity for Implementation and Sustainability  Substantial  Substantial  Substantial Fiduciary  Moderate  Substantial  Substantial Environment and Social  Low  Low  Low Stakeholders  Low  Low  Low Other  --  Low  Low Overall  Substantial  Substantial  Substantial Results Project Development Objective Indicators PHINDPDOTBL  New/improved products/services introduced to existing or new markets by Project beneficiaries (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 200.00 Date 31-Dec-2015 -- 09-Jan-2018 30-Apr-2021 1/28/2018 Page 2 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) PHINDPDOTBL  Startups launched by project beneficiaries (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 340.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDPDOTBL  Access to Internet Services (number of subscribers per 100 people) (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 39.00 56.20 77.78 50.00 Date 31-Dec-2014 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDPDOTBL  Beneficiary MSMEs selling via e-commerce platforms (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 400.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 Overall Comments No relevant progress on results indicators given significant implementation delays. Intermediate Results Indicators PHINDIRITBL  Direct project beneficiaries (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 64,000.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 1/28/2018 Page 3 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) PHINDIRITBL  Female beneficiaries (Percentage, Custom Supplement) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 20.00 PHINDIRITBL  RIHs established, equipped, and operational (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 8.00 Date 01-Jul-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDIRITBL  CICs established, equipped, and operational (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 50.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Visitors to CICs and RIHs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 150,000.00 Date 31-Dec-2015 -- 09-Jan-2018 30-Apr-2021 1/28/2018 Page 4 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) PHINDIRITBL  Female visitors to CICs and RIHs (percentage of total) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 20.00 Date 31-Dec-2015 -- 09-Jan-2018 30-Apr-2021 PHINDIRITBL  New household and MSME broadband subscriptions catalyzed by voucher program (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 33,000.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Innovation competitions and exhibitions supported by the Project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 275.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Participants in innovation competitions and exhibitions supported by the Project (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 4,400.00 Date 31-Dec-2015 -- 09-Jan-2018 30-Apr-2021 1/28/2018 Page 5 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) PHINDIRITBL  Recipients of basic digital literacy training (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 30,000.00 Date 31-Dec-2015 -- 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Individuals completing structured training modules and programs (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 10,000.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Females completing structured training modules and programs (percent of total) (Number, Custom Breakdown) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 20.00 Date 31-Dec-2015 -- 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Beneficiaries of coaching, mentoring, or technical consulting (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 180.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 1/28/2018 Page 6 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) PHINDIRITBL  Private financing catalyzed through matching grant programs (Amount(USD), Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 -- 0.00 1,950,000.00 Date 31-Dec-2015 -- 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Enterprises and start-ups financed through matching grants (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 156.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Government and associated professionals/staff receiving capacity building through trainings, workshops, study visits, etc. (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 75.00 Date 31-Dec-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 PHINDIRITBL  Citizen engagement: user feedback collected from project beneficiaries (Number, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0.00 0.00 0.00 5,000.00 Date 01-Jul-2015 01-Jun-2017 09-Jan-2018 30-Apr-2021 Overall Comments No relevant progress on results indicators given significant implementation delays. 1/28/2018 Page 7 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P152441 IBRD-85950 Effective USD 40.00 40.00 0.00 2.20 37.80 5.5% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P152441 IBRD-85950 Effective 18-Mar-2016 28-Mar-2016 21-Jul-2016 30-Apr-2021 30-Apr-2021 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) 1/28/2018 Page 8 of 9 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Georgia National Innovation Ecosystem (GENIE) Project (P152441) There are no related projects. 1/28/2018 Page 9 of 9 Public Disclosure Copy