The World Bank Report No: ISR13785 Implementation Status & Results Lebanon LB Supporting Innovation in SMEs Project (P127306) Public Disclosure Copy Operation Name: LB Supporting Innovation in SMEs Project (P127306) Project Stage: Implementation Seq.No: 3 Status: ARCHIVED Archive Date: 30-May-2014 Country: Lebanon Approval FY: 2013 Product Line: IBRD/IDA Region: MIDDLE EAST AND NORTH AFRICA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Kafalat Key Dates Board Approval Date 31-Oct-2012 Original Closing Date 30-Jun-2018 Planned Mid Term Review Date 01-Apr-2016 Last Archived ISR Date 13-Aug-2013 Effectiveness Date Revised Closing Date 30-Jun-2018 Actual Mid Term Review Date Project Development Objectives Project Development Objective (from Project Appraisal Document) The project’s development objective is to encourage the equity investment market to increase the supply of early stage investment finance for financially viable, new, and existing innovative firms. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Innovation in SMEs (iSMEs) Funding Program 27.50 Project Management 2.50 Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Moderately Satisfactory Moderately Satisfactory Public Disclosure Copy Overall Implementation Progress (IP) Moderately Satisfactory Moderately Satisfactory Overall Risk Rating High High Implementation Status Overview The project was approved by the Board on October 31, 2012 and the legal agreement was signed on February 13, 2013. Locations Country First Administrative Division Location Planned Actual Lebanon Mohafazat Beyrouth Beirut ✔ Page 1 of 4 The World Bank Report No: ISR13785 Results Project Development Objective Indicators Public Disclosure Copy Indicator Name Core Unit of Measure Baseline Current End Target a) Total number of firms receiving equity Number Value 0.00 0.00 110.00 financing leveraging investors and the iSME Date 24-Jul-2013 funding program Comments No. of beneficiary firms, women owned Number Value 0.00 0.00 Sub Type Date 24-Jul-2013 Breakdown Comments b) Total amount of equity financing Amount(USD) Value 0.00 0.00 67375.00 received (leveraged) through the project, Date 24-Jul-2013 leveraging investors and the iSME funding Comments program c) Total number of firms receiving equity Number Value 0.00 0.00 29.00 financing leveraging investors only (as a result Date 24-Jul-2013 of a Grant) Comments a) Number of new/ improved products/ Number Value 0.00 0.00 98.00 processes offered Date 24-Jul-2013 Comments b) Number of new start-ups created Number Value 0.00 0.00 70.00 under the project Date 24-Jul-2013 Comments a) Growth in sales/turnover of Percentage Value 0.00 0.00 10.00 beneficiary SMEs Date 24-Jul-2013 Comments b) No. of new jobs created in beneficiary Number Value 0.00 0.00 180.00 Public Disclosure Copy SMEs Date 24-Jul-2013 Comments No. of new jobs created, of which % are filled Number Value 0.00 0.00 by women Sub Type Date 24-Jul-2013 Breakdown Comments Intermediate Results Indicators Page 2 of 4 The World Bank Report No: ISR13785 Indicator Name Core Unit of Measure Baseline Current End Target Intermediate Result Indicator 1: No. of firms Number Value 0.00 0.00 400.00 applying for Phase 1 proof of concept grants Date 24-Jul-2013 Public Disclosure Copy Comments Intermediate Result Indicator 2: No. of firms Number Value 0.00 0.00 200.00 receiving Phase 1 proof of concept grants Date 24-Jul-2013 Comments Intermediate Result Indicator 3: Vol. of Phase Amount(USD) Value 0.00 0.00 1000.00 1 proof of concept grants Date 24-Jul-2013 Comments Intermediate Result Indicator 4: No. of firms Number Value 0.00 0.00 170.00 applying for Phase 2 VC grants Date 24-Jul-2013 Comments Intermediate Result Indicator 5: No. of firms Number Value 0.00 0.00 150.00 successfully receiving Phase 2 VC grants Date 24-Jul-2013 Comments Intermediate Result Indicator 6: Total vol. of Amount(USD) Value 0.00 0.00 1500.00 Phase 2 VC grants Date 24-Jul-2013 Comments Data on Financial Performance (as of 19-Feb-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P127306 IBRD-82020 Not Effective 31-Oct-2012 13-Feb-2013 30-Jun-2018 30-Jun-2018 Disbursements (in Millions) Public Disclosure Copy Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P127306 IBRD-82020 Not Effective USD 30.00 30.00 0.00 0.00 30.00 0.00 Disbursement Graph Page 3 of 4 The World Bank Report No: ISR13785 Public Disclosure Copy Key Decisions Regarding Implementation The project has been submitted to Parliament and is pending Parliament's ratification. Restructuring History There has been no restructuring to date. Related Projects There are no related projects. Public Disclosure Copy Page 4 of 4