GEORGIA’S INNOVATION & TECHNOLOGY AGENCY
SPECIAL PURPOSE PROJECT FINANCIAL
STATEMENTS
National Innovation Ecosystem (GENIE) Project (IBRD Loan
NUMBER 8595-GE)
Together with Independent Auditor’s Report
For the period from 01 January 2022 to 31 May 2023
TABLE OF CONTENTS
INDEPENDENT AUDITOR’S REPORT.................................................................................... 3
SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
STATEMENT OF CASH RECEIPTS AND PAYMENTS .................................................................... 5
STATEMENT OF EXPENDITURE PER COMPONENT..................................................................... 7
NOTES TO SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
1. General information................................................................................................. 9
2. Summary of significant accounting policies.....................................................................10
3. Summary of Summary Reports and SOEs.........................................................................11
4. Statement of Designated Accounts...............................................................................12
5. Statement of Financial Position (Statement of Fund Balances) ..............................................13
6. Cash ..................................................................................................................14
7. Project Expenditures Implementation Progress ................................................................14
8. Financing IBRD Loan Number 8595-GE ...........................................................................15
9. Litigations............................................................................................................15
10. Events after the reporting period ...............................................................................15
Annex 1. RECONCILIATION BETWEEN THE AMOUNTS SUBMITTED BY THE GITA AND DISBURSED BY THE
WORLD BANK ...........................................................................................................16
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
STATEMENT OF CASH RECEIPTS AND PAYMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
As at 31 December 2021 the Statement of cash receipts and payments is presented as follows:
Budget
Note Actual Variance
(Unaudited)*
For the year ended Cumulative as Cumulative as at Cumulative as at Cumulative as at
31 December at 31 December 31 December 31 December 31 December
2021 2021 2020 2021 2021
TOTAL OPENING CASH 6 2,076,300 - - - -
Sources of Funds
IBRD Loan Number 8595-GE
GITA 3,400,000 16,600,000 13,200,000
SRNSFG 926,508 2,908,088 1,981,580
TOTAL FUNDS 8 4,326,508 19,508,088 15,181,580 - -
Project Expenditures
(1) Goods, Works, Non-consulting Services, Consultants' Services, Training and/or
Operating Costs for the Project, Including Matching Grants and applied research 4,970,839 15,820,315 10,849,476 17,257,951 1,437,636
grants excluding Part 1 (c) and Part 3 (c) of the Project) - GITA
(1) Goods, Works, Non-consulting Services, Consultants' Services, Training and/or
Operating Costs for the Project, Including Matching Grants and applied research 9,426 116,192 106,766 117,000 808
grants (excluding Part 1 (c) and Part 3 (c) of the Project) - SRNSFG
(2) Goods, Non-consulting Services, Consultants' Services, Training and/or operating
4,406 248,924 244,518 250,081 1,157
Costs for Part 1(c) of the Project, including BfD Payments - GITA
(3) Front-end Fee - 100,000 100,000 100,000 -
(5) Applied Research Grants under Part 3(C) of the Project - SRNSFG 946,374 2,750,894 1,804,520 2,775,000 24,106
TOTAL EXPENDITURES 7 5,931,045 19,036,325 13,105,280 20,500,032 1,463,707
TOTAL ENDING CASH 6 471,763 471,763 2,076,300
* The budget figures are updated several times during the year. Planned figures for the year ended 31 December 2021 have not been audited.
The notes on pages 9-17 form an integral part of these special purpose project financial statements.
6
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
STATEMENT OF EXPENDITURE PER COMPONENT
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
As at 31 December 2021 the Statement of expenditure per component is presented as follows:
Budget
Actual Variance
(Unaudited)*
Components For the year Cumulative as at Cumulative as Cumulative as Cumulative as at
ended 31 31 December at 31 December at 31 December 31 December
December 2021 2021 2020 2021 2021
1 - Innovation Infrastructure 273,486 1,729,906 1,456,420 2,990,788 (1,260,882)
2 - Innovation Services 1,056,962 3,298,865 2,241,903 3,428,000 (129,135)
3 - Innovation Financing 3,407,981 9,825,390 6,417,409 9,735,131 90,259
3 -1 - Applied Research Grants (SRNSFG) 955,800** 2,867,086 1,911,286 2,892,000 (24,914)
4 - Project Implementation Support 236,816 1,215,078 978,262 1,354,113 (139,035)
Front-end Fee - 100,000 100,000 100,000 -
5,931,045 19,036,325 13,105,280 20,500,032 (1,463,707)
* The budget figures are updated several times during the year. Planned figures for the year ended 31 December 2021 have not been audited.
The notes on pages 9-17 form an integral part of these special purpose project financial statements.
8
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
NOTES TO THE SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
1. General information
1.1. The Project
The Financing Agreement IBRD Loan Number 8595-GE was signed on 28 March 2016 between Georgia and the
International Bank for Reconstruction and Development (“IBRD”), according to which IBRD provided financing to
the Georgia in the amount of 40,000,000 United States dollars (USD). The Financing Agreement became effective
on 21 July 2016.
The financing was provided for the implementation of “National Innovation Ecosystem Project” (“Project”,
“GENIE”). The payment currency of IBRD Loan Number 8595-GE is United States dollars (USD).
In February 2019 the Loan was restructured and the loan amount was defined 23.5 mln.
The Closing date of IBRD Loan Number 8595-GE was initially set 30 April 2021.
In November 2020, following a request from the Ministry of Finance of Georgia to extend the GENIE project, the
project was extended by 23 months and will close on 31 May 2023.
After abovementioned changes the Loan Project Data as at 31 December 2021 is as follows:
Project Data US$ (million)
Original Loan Amount 40.0
Revised Loan Amount 23.5
Total Disbursements 19.0
Disbursements in WB Fiscal Year 5,9
Effectiveness Date 21 July, 2016
Original Closing Date April 30, 2021
Revised Closing date* March 31, 2023
* The Grace Period for submitting withdrawal application for expenditures incurred before the Closing date is
four months following the Closing date: 31 July 2023.
1.2. The Project objectives
The objective of this project is to increase innovative activities of firms and individuals in Georgia, and their
participation in the digital economy.
The Project consists of the following parts:
Part 1: Innovation Infrastructure
(a) Develop of a network of Innovation Hubs and Innovation Centers in selected cities, towns and villages;
(b) Design of a Broadband for Development Program to support the increase in adoption and use of broadband
internet services and advanced information technology by Eligible Households and Eligible MSMEs, with a focus
on rural areas, inter alia, by providing BfD Payments and related training, and preparation of the Broadband
for Development Program Manual; and
(c) Pilot, and, as applicable, implement the Broadband for Development Program, and provide BfD Payments and
related training.
Part 2: Innovation Services
Carry out outreach and communication activities, and provide training and technical assistance in support of:
(a) Digital Economy Skills of individuals; and
(b) Innovation capacity of firms
Part 3: Innovation Financing
(a) Provision of Matching Grants, selection of Eligible MSMEs for receipt of Matching Grants and supervision of
Matching Grants.
(b) Provision of technical assistance to Eligible MSMEs to prepare and implement Sub-Projects;
9
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
NOTES TO THE SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
1. General information (continued)
(c) Provision of Applied Research Grants to selected scientists through the Shota Rustaveli National Science
Foundation; and
(d) Provision of technical assistance and related costs to the Foundation for the administration of the Applied
Research Grant Program, as well as GITA and Enterprise Georgia, in administering support to MSMEs. stimulate
alternative forms of innovation financing and investment in the digital economy;
Part 4: Project Implementation Support
Provision of support for strengthening Project management capabilities and fiduciary oversight, monitoring and
evaluation, and impact evaluation activities.
1.3. The Project Budget
The Project is wholly financed by IBRD Loan Number 8595-GE, inclusive of all taxes.
IBRD Loan Number IBRD Credit
Total
8595-GE Expenditure
Category
Financing
USD USD
(inclusive of taxes)
(1) Goods, works, non-consulting services,
consultants’ services, Training and/or Operating
20,150,000 20,150,000 100%
Costs for Project, including Matching Grants
(excluding Part 1(c) of the Project)
(2) Goods, non-consulting services, consultants’
services, Training and Operating Costs for Part 1(c) 250,000 250,000 100%
of the Project, including BfD Payment
(3) Front-end Fee 100,000 100,000 100%
(4) Interest Rate Cap or Interest Rate Collar
- - -
premium
(5) Applied research grants under part 3 (c) of the
3,000,000 3,000,000 100%
project
Total 23,500,000 23,500,000
1.4. Project Implementation
The Project is implemented by Georgia’s Innovation and Technology Agency (“GITA”) under the Ministry of
Economy and Sustainable Development of Georgia (MoESD). Shota Rustaveli National Science Foundation of Georgia
(SRNSFG) under the Ministry of Education and Science has been added as a co-implementer of the project, in
accordance with loan amendment.
GITA is responsible for all project implementation, including coordination of the gathering and processing of the
results of monitoring, reporting, fiduciary functions, and safeguard procedures in close cooperation with relevant
institutions participating in the Project. The GITA address is: 7, Innovation str. 0114, TechPark, Okrokana, Tbilisi,
Georgia.
SRNSFG is responsible for the implementation of the Applied Research grant program Component 3 (c) including
coordinating the gathering and processing of the results of monitoring, reporting, fiduciary functions and safeguard
procedures in close cooperation with relevant institutions participating in the project. The SRNSFG address is: 2,
2nd turn, Merab Aleksidze str. 0193, Tbilisi, Georgia.
2. Summary of significant accounting policies
2.1.Statement of compliance
The special purpose project financial statements are prepared in accordance with the International Public Sector
Accounting Standard: Financial Reporting Under the Cash Basis of Accounting (IPSAS-Cash Basis), issued by the
International Public Sector Accounting Standards Board (IPSASB) within the International Federation of Accountants
(IFAC), and presented in accordance with Loan Handbook for World Bank Borrowers.
10
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
NOTES TO THE SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
2. Summary of significant accounting policies (continued)
The purpose of these special purpose project financial statements is to provide information to the international
Bank for Reconstruction and Development (IBRD) to assist them in evaluating the Project implementation.
The principal accounting policies applied in the preparation of these special purpose project financial statements
are set out below. These policies have been consistently applied to all the periods presented.
2.2.Cash basis of accounting
Project financing is recognized as a source of project funds when the cash is received. Project expenditures are
recognized as a use of project funds when the payments are made.
2.3.Reporting currency
The reporting currency of these special purpose project financial statements is United States Dollars (USD).
The expenditures made in local currency, Georgian Lari (GEL), are translated into USD based at the exchange rate
prevailing at the date of the transaction as issued by the National Bank of Georgia (NBG).
The exchange rate defined by the NBG is as follows:
USD
Exchange rate as at 31 May 2023 2.5919
Exchange rate as at 31 December 2021 3.0976
2.4.Taxes
According to the Georgian Tax Legislation, the Company pays all the taxes on unified treasury code applicable for
all taxes. Taxes are paid in accordance with the tax regulation of Georgia.
2.5.Budget
Expenditure budget is created based on actual accumulated expenditures for the last period plus the updated
procurement plans for the Reporting year.
3. Summary of Summary Reports and SOEs
(a) SOEs submitted and approved during the period from 01 January 2022 to 31 May 2023 can be presented
as follows:
Disbursement Category Total
(1) Goods, Works, Non-consulting (2) Goods, Non-consulting
Withdra
Withdrawal Services, Consultants' Services, Training Services, Consultants' (5) Applied
wal
application and/or Operating Costs for the Project, Services, Training and/or Research Grants
Applicati
date Including Matching Grants and applied operating Costs for Part under Part 3(C)
on N
research grants (excluding Part 1 (c) 1(c) of the Project, of the Project
and Part 3 (c) of the Project) including BfD Payments
23 28-Feb-2022 3,461,835 306 - 3,462,141
24* 23-May-2023 5,629 - 22,247 27,876
26* 23-May-2023 2,013,549 - - 2,013,549
- Total 5,481,013 306 22,247 5,503,566
* The mentioned withdrawals would not be reimbursed
11
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
NOTES TO THE SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
3. Summary of Summary Reports and SOEs (continued)
(a) SOEs submitted and approved during the year ended 31 December 2021 can be presented as follows:
Disbursement Category Total
(1) Goods, Works, Non-consulting (2) Goods, Non-consulting
Withdra
Withdrawal Services, Consultants' Services, Training Services, Consultants' (5) Applied
wal
application and/or Operating Costs for the Project, Services, Training and/or Research Grants
Applicati
date Including Matching Grants and applied operating Costs for Part under Part 3(C)
on N
research grants (excluding Part 1 (c) 1(c) of the Project, of the Project
and Part 3 (c) of the Project) including BfD Payments
19 24-Feb-2021 3,050 - 53,719 56,769*
20 04-Apr-2021 1,478 - 378,554 380,032
21 25-May-2021 1,505,414 9,328 - 1,514,742**
22 22-Jun-2021 1,561 - 356,032 357,593
23 23-Feb-2022 3,460,198 306 - 3,460,504***
**** - - 5,629 155,776 161,405****
4,971,701 15,263 944,081 5,931,045
* Besides the mentioned amount, 2020-year expenditure USD329,706 is also reimbursed under WA#19.
** Besides the mentioned amount, 2020-year expenditure USD1,567,112 is also reimbursed under WA#21.
*** WA#23 was reimbursed in 2022.
**** Expenses incurred without Application of Withdrawal schedule.
4. Statement of Designated Accounts
Financing Agreement IBRD Loan Number 8595-GE
Bank account number GE65NB0331100001150207
Bank National Bank of Georgia
Bank location 1, Zviad Gamsakhurdia Embankment, 0114, Tbilisi, Georgia
Account currency USD
Considering amendment to loan agreement, second separate account – DA-B under existing abovementioned
bank account was opened for Shota Rustaveli National Science Foundation of Georgia (SRNSFG). DA-A account
was defined solely as Georgia’s Innovation and Technology Agency (GITA) account.
Statement of Designated Account for the period ended 31 May 2023 is presented as follows:
For the period
For the year Cumulative
from 1 January
ended 31 as at 31 May
2022 to 31 May
December 2021 2023
2023
1.1 DA Opening balance _ GITA 430,761 2,076,300 -
1.2 DA Opening balance _ SRNSFG 41,002
2 Add: opening discrepancy - -
3 IBRD advance/replenishment during the current semester_ GITA 3,500,000 3,400,000 20,000,000
IBRD advance/replenishment during the current semester_ SRNSFG - 926,508 2,908,088
4 Less: Refund to IBRD from DA during the current semester (174,530) - (174,530)
5 Present outstanding amount advanced to DA 3,797,233 6,402,808 22,733,558
DA closing balance as at end of the period carried forward to next
6.1 516,280 430,761 516,280
period_ GITA
DA closing balance as at end of the period carried forward to next
6.2 - 41,002 -
period_ SRNSFG
7 Add: Amount of eligible expenditures paid during the year _ GITA 3,414,482 4,975,245 19,483,721
Add: Amount of eligible expenditures paid during the year _ SRNSFG (133,529) 955,800 2,733,557
8 Service charges (if debited into DA) - - -
9 Less: Interest earned (if credited into DA) - - -
10 Total advance accounted for 3,797,233 6,402,808 22,733,558
1 Discrepancy (5)-(10) to be explained /II - - -
12
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
NOTES TO THE SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
4. Statement of Designated Accounts (Continued)
*The amount of eligible expenditures includes an audit fee of USD 18,880, which has been transferred to the
Escrow Account and will be disbursed upon completion of the audit process
Statement of Designated Account for the year ended 31 December 2021 is presented as follows:
For the year For the year Cumulative
ended 31 ended 31 as at 31
December 2021 December 2020 December 2021
1 DA Opening balance 2,076,300 - -
2 Add: opening discrepancy - - -
3 IBRD advance/replenishment during the current semester_ GITA 3,400,000 13,100,000 16,500,000
IBRD advance/replenishment during the current semester_ SRNSFG 926,508 1,981,580 2,908,088
4 Less: Refund to IBRD from DA during the current semester - -
5 Present outstanding amount advanced to DA 6,402,808 15,081,580 19,408,088
DA closing balance as at end of the period carried forward to next
6 430,761 2,006,006 430,761
period_ GITA
DA closing balance as at end of the period carried forward to next
41,002 70,294 41,002
period_ SRNSFG
7 Add: Amount of eligible expenditures paid during the year _ GITA* 4,975,245 11,093,994 16,069,239
Add: Amount of eligible expenditures paid during the year _ SRNSFG 955,800 1,911,286 2,867,086
8 Service charges (if debited into DA) - - -
9 Less: Interest earned (if credited into DA) - - -
10 Total advance accounted for 6,402,808 15,081,580 19,408,088
11 Discrepancy (5)-(10) to be explained /II - - -
5. Statement of Financial Position (Statement of Fund Balances)
The Statement of Financial Position discloses assets, liabilities, and net assets of the Project as at reporting date.
As at 31 As at 31
Note
May 2023 December 2021
ASSETS
Cash 6 516,280 471,763
Total assets 516,280 471,763
LIABILITIES
Total liabilities - -
NET ASSETS
Cumulative income
IBRD Loan 8595-GE 8 23,008,088 19,508,088
23,008,088 19,508,088
Use of funds
Refund (174,530) -
Cumulative expenses
Project expenses 22,317,278 19,036,325
Total net assets 516,280 471,763
13
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
NOTES TO THE SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
6. Cash
Underlying As at 31 As at 31
IBRD Loan Number 8595-GE
Currency May 2023 December 2021
Designated Account _ GITA USD 516,280 430,761
Designated Account _ SRNSFG USD - 41,002
516,280 471,763
The amounts remaining in the designated account at the end of the project period are required to be refunded
to IBRD till the end of the grace period.
7. Project Expenditures Implementation Progress
Cumulative
Cumulative
expenditures
expenditures Project Progress Progress
Category as at 31
as at 31 May budget 2023 2021
December
2023
2021
(1) Goods, works, non-consulting services,
consultants’ services, Training and/or
Operating Costs for Project, including 19,350,989 15,936,507 20,150,000 96% 79%
Matching Grants (excluding Part 1(c) of the
Project)
(2) Goods, non-consulting services,
consultants’ services, Training and Operating
248,924 248,924 250,000 100% 100%
Costs for Part 1(c) of the Project, including
BfD Payment
(3) Front-end Fee 100,000 100,000 100,000 100% 100%
(5) Applied Research Project Grants under
2,617,365 2,750,894 3,000,000 87% 92%
Part 3(c) of the Project
Total 22,317,278 19,036,325 23,500,000 95% 81%
(a) The Loan became effective on 21 July 2016 with closing date set on 30 April 2021. Due to slow pace of project
implementation, the total project budget was decreased from 40 mln. to 23.5 mln. In November 2020, loan
term was prolonged and as already mentioned revised closing date is 31 May 2023. Considering revised term
of the loan and cumulative percentage of project expenditure implementation progress it should be noted
that project implementation has significantly accelerated.
(b) As of 31 May 2023, and 31 December 2021 - 95% and 81% of the Project is implemented, respectively. The
project implementation has had several challenges in prior years which were related to unrealistic
assumptions, lack of agreement on the approach to provide innovation services, lack of progress on innovation
(matching grants) and insufficient organizational capacity of GITA. In this matter, the Agency went through
several improvements to solve these problems. More specifically:
Strengthening GITA managerial structure, appointing the Agency Chairman and a deputy chairwoman;
Appointment of new manager for GENIE project with the enhanced authorities in order to improve the
speed and phase of the project implementation;
In May 2019, second Procurement Specialist was hired to enable GENIE team to move much faster as
workload of procurement specialist has been substantially increased from previous years;
In May 2019, new Matching Grants were initiated with the overall amount of GEL650,000 for each grant;
(c) Category 5 – according to the loan restructuring amendment, Shota Rustaveli National Science Foundation
has: i) appointed a financial management specialist, with qualifications, experience and terms of reference
acceptable by the Bank; and ii) adopted the Applied Research Grants Manual in a manner satisfactory to the
Bank.
14
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
NOTES TO THE SPECIAL PURPOSE PROJECT FINANCIAL STATEMENTS
For the period from 01 January 2022 to 31 May 2023
(Amounts are shown in US dollars)
8. Financing IBRD Loan Number 8595-GE
For the Period Cumulative as at 31 Cumulative as at
ended 31 May 2023 December 2021 31 May 2023
Advance/(recovery) 219,047 972,904 1,191,951
Direct Payment - - -
SOE and Summary Report 3,280,953 18,435,184 21,716,137
Front-end fee - 100,000 100,000
Total 3,500,000 19,508,088 19,508,088
Total financing budget 23,500,000 23,500,000 23,500,000
Percentage of finance provided 83% 98%
9. Litigations
The agency is currently involved in a legal case with one of the Sub-grant vendors to recover the unutilized grant
amount of USD 38,022 (GEL98,550). The case is currently ongoing, and a final decision has not been reached.
10. Events after the reporting period
The Agency intends to refund the amounts of unutilized sub-grants issued for the purpose of "Provision of Matching
Grants, selection of Eligible MSMEs for receipt of Matching Grants, and supervision of Matching Grants." The total
refund amount is USD 8,378 (GEL 21,715). These funds have been returned by vendors but have not yet been
reflected in the project bank accounts.
Furthermore, as we approach the project's grace period deadline of July 31, 2023, the monitoring group is actively
identifying additional amounts to be returned from sub-grants issued for the aforementioned purposes. At the time
of issuing this report, the projected amount expected to be refunded was USD 57,398 (GEL 148,769). However, it
is important to note that the monitoring process is ongoing, and the amounts earmarked for return are subject to
potential changes.
15
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
Annex 1. RECONCILIATION BETWEEN THE AMOUNTS SUBMITTED BY THE GITA AND DISBURSED BY THE
WORLD BANK
(Amounts are shown in US dollars)
For the period from 1 January 2022 to 31 May 2023
for the period from 1 January 2022 to 31 May
2023
Expenditure Category Withdrawal GITA/SRNSFG WB Difference
Advance/(recovery) 23 219,047 219,047
Total 219,047 219,047 -
(1) Goods, Works, Non-consulting 23 3,461,835 3,461,835 -
Services, Consultants' Services,
Training and/or Operating Costs for
the Project, Including Matching
* (47,659) (47,659)
Grants and applied research grants
(excluding Part 1 (c) and Part 3 (c)
of the Project)
(2) Goods, Non-consulting Services,
Consultants' Services, Training
and/or operating Costs for Part 23 306 306 -
1(c) of the Project, including BfD
Payments
(5) Applied Research Grants under
* (133,529) (133,529) -
Part 3(C) of the Project -
3,280,953 3,280,953 -
Total 3,500,000 3,500,000 -
* Refunds incurred without Application of Withdrawal schedule.
16
National Innovation Ecosystem Project
IBRD Loan Number 8595-GE
Annex 1. RECONCILIATION BETWEEN THE AMOUNTS SUBMITTED BY THE GITA AND DISBURSED BY THE
WORLD BANK
(Amounts are shown in US dollars)
For the year ended 31 December 2021
Expenditure Category Withdrawal GITA/SRNSFG WB Difference
19 329,706 329,706 -
20 1 1 -
21 1,885,258 1,885,258 -
Advance/(recovery)
22 (197,593) (197,593) -
23 (3,460,504) (3,460,504) -
* (161,405) (161,405)
Total (1,604,537) (1,604,537) -
(1) Goods, Works, Non- 19 3,050 3,050 -
consulting Services, 20 1,478 1,478 -
Consultants' Services, 21 1,505,414 1,505,414 -
Training and/or Operating 22 1,561 1,561 -
Costs for the Project,
Including Matching Grants
and applied research grants 23 3,460,198 3,460,198
(excluding Part 1 (c) and Part
3 (c) of the Project)
(2) Goods, Non-consulting 21 9,328 9,328 -
Services, Consultants' 23 306 306
Services, Training and/or
operating Costs for Part 1(c)
* 5,629 5,629
of the Project, including BfD
Payments
19 53,719 53,719 -
(5) Applied Research Grants
20 378,554 378,554 -
under Part 3(C) of the
22 356,032 356,032 -
Project -
* 155,776 155,776
Total Expenditure 5,931,045 5,931,045 -
Total Financed 4,326,508 4,326,508 -
* Expenses incurred without Application of Withdrawal schedule.
17