Public Disclosure Authorized LATIN AMERICA AND CARIBBEAN Jamaica Social, Urban, Rural and Resilience Global Practice Global Practice IBRD/IDA Investment Project Financing FY 2015 Seq No: 6 ARCHIVED on 20-Nov-2017 ISR30094 Implementing Agencies: Jamaica, Ministry of Science, Technology, Energy and Mining, Office of the Prime Minister Public Disclosure Authorized Key Dates Key Project Dates Bank Approval Date:18-Jul-2014 Planned Mid Term Review Date:04-Jul-2016 Original Closing Date:31-Jan-2020 Project Development Objectives Effectiveness Date:04-Nov-2014 Actual Mid-Term Review Date:18-Nov-2016 Revised Closing Date:31-Jan-2020 Public Disclosure Authorized Project Development Objective (from Project Appraisal Document) The Proposed Development Objective for this operation is to support youth employment in the digital and animation industries in Jamaica Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Component 1: Skills and Capacity to Enhance Employability and Entrepreneurship:(Cost $10.00 M) Component 2: Establishment of Startup Jamaica:(Cost $5.60 M) Public Disclosure Authorized Component 3. Early Stage Investment for Tech Startups:(Cost $1.60 M) Component 4. Support to Science, Technology and Innovation:(Cost $0.80 M) Component 5: Project Administration:(Cost $2.00 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO Moderately Unsatisfactory Moderately Unsatisfactory Overall Implementation Progress (IP) Unsatisfactory Unsatisfactory Overall Risk Rating Moderate Moderate 11/20/2017 Page 1 of 10
Implementation Status and Key Decisions The YEDAI project s development objective (PDO) is to support youth employment in the digital and animation industries in Jamaica. Since project approval, the ground realities have shifted in Jamaica with an increased focus on job creation and growth, especially for youths. These priorities are outlined in a new strategy for economic growth under the Ministry of Economic Growth and Job Creation. The PDO remains relevant as the project continues to be aligned with the Government of Jamaica strategic priorities. Implementation progress continues to be unsatisfactory with a low disbursement ratio US$3.19M (16% of the loan) as at September 30, 2017. This rating is based on the fact that the project is lagging behind in the implementation of activities under several of the project components and a low disbursement ratio. To address those issues, the Bank and the Government of Jamaica have agreed to restructure the project. The restructuring is ongoing and will consist in renaming and reallocating funds within project's components, in particular to support the national HOPE program through a new component called the Digital and Technical Skills Development for youth, which will replace the support to Start Up Jamaica and to Early Stage Investments for Tech Startups. The implementation agency will be strengthened and transferred to the Office of the Prime Minister (OPM).The restructuring is expected to be effective by the end of the calendar year. 11/20/2017 Page 2 of 10
11/20/2017 Page 3 of 10
Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance -- Moderate Moderate Macroeconomic -- Substantial Substantial Sector Strategies and Policies -- Low Low Technical Design of Project or Program -- Substantial Substantial Institutional Capacity for Implementation and Sustainability -- High High Fiduciary -- Moderate Moderate Environment and Social -- Low Low Stakeholders -- Moderate Moderate Other -- -- -- Overall -- Moderate Moderate Results Project Development Objective Indicators PHINDPDOTBL 1. Number of youth earning foreign exchange through global online work (Number, Custom) Value 100.00 100.00 110.00 1,000.00 PHINDPDOTBL 2a. Number of youth who participate in one of the animation training program (component 1) and become employed by the animation industry (Number, Custom) 11/20/2017 Page 4 of 10
Value 30.00 30.00 188.00 1,400.00 PHINDPDOTBL 2b. Percentage of youth securing new 2D frontline animation jobs who come from inner city communities (Percentage, Custom) Value 0.00 -- 25.00 50.00 Date 05-Mar-2014 -- 17-Nov-2017 31-Jul-2019 PHINDPDOTBL Private Capital Mobilized (Amount(USD), Custom) Value 0.00 90,000.00 90,000.00 7,000,000.00 PHINDPDOTBL 4. Startup companies established through SUJ (Number, Custom) Value 0.00 25.00 25.00 150.00 Overall Comments Intermediate Results Indicators 11/20/2017 Page 5 of 10
1.1 Number of youth participating in one-day training sessions through the program focused on opportunities for global online work (Number, Custom) Value 0.00 0.00 0.00 2,000.00 2. 1 Number of international full series animation projects outsourced to Jamaica per year (Number, Custom) Value 0.00 0.00 0.00 30.00 2.2 Total number of students trained in intensive 2D animation program (Number, Custom) Value 0.00 30.00 30.00 2,200.00 2.3 Total number of students trained in intensive 3D animation program (Number, Custom) Value 0.00 0.00 0.00 270.00 11/20/2017 Page 6 of 10
2.4 Total number of students participating in animation certificate program (Number, Custom) Value 0.00 0.00 0.00 250.00 3.1 Number of startups graduating from Startup Jamaica accelerator that successfully raise follow-on capital (Number, Custom) Value 0.00 1.00 1.00 33.00 3.2 Percentage of startups graduating stage 3 of Component 2 the project that successfully raise follow-on capital (Percentage, Custom) Value 0.00 0.00 0.00 33.33 3.3. Percentage of startup companies graduating from Startup Jamaica accelerator program receiving follow-on capital from Jamaican or Caribbean angel investors/angel networks (Percentage, Custom) Value 0.00 1.00 1.00 50.00 11/20/2017 Page 7 of 10
3.4 Number of investors taking equity into companies graduating from SUJ accelerator program (Number, Custom) Value 0.00 1.00 1.00 11.00 4.1 Number of new mobile app startup companies accepted into SUJ accelerator and receiving seed funding (stage 3 of component 2) (Number, Custom) Value 0.00 3.00 3.00 100.00 4.2 Percentage of startups accepted into SUJ originating from Jamaica/Caribbean (Percentage, Custom) Value 0.00 100.00 100.00 50.00 4.3 Total number of people participating in activities/boot camps related to Startup Jamaica (Number, Custom) Value 0.00 455.00 455.00 3,000.00 Date 05-Mar-2014 25-Apr-2016 17-Nov-2017 31-Jul-2019 Overall Comments At the time of the mission, the data were not made available. The results framework will be updated when the restructuring is processed. 11/20/2017 Page 8 of 10
Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P148013 IBRD-84050 Effective USD 20.00 20.00 0.00 3.19 16.81 16% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P148013 IBRD-84050 Effective 18-Jul-2014 03-Sep-2014 04-Nov-2014 31-Jan-2020 31-Jan-2020 Cumulative Disbursements Restructuring History There has been no restructuring to date. Related Project(s) 11/20/2017 Page 9 of 10
There are no related projects. 11/20/2017 Page 10 of 10