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REQUEST FOR EXPRESSIONS OF INTEREST: Financial management specialist

National Innovation Ecosystem Project (GENIE) – P152441
Loan # IBRD-8595-GE
Assignment title: Financial management specialist
Reference No. GE-GITA-151829-CS-INDV



The Government of Georgia has secured support from the World Bank Group (the Bank) for the Georgia National Innovation Ecosystem (GENIE) Project in the amount of US $23.5 million. The main objective of the project is to increase innovative activities of the micro, small, and medium-sized enterprises (MSMEs) and individuals in Georgia and their participation in the digital economy. The Project will enhance Georgia’s national innovation ecosystem through an integrated approach across three components, plus project implementation support.

Component 1: Innovation Infrastructure. The component will: (a) develop a network of Regional Innovation Hubs (RIH) and Community Innovation Centers (CICs) in selected cities, towns and villages of Georgia; and (b) design and pilot a Broadband-for-Development (BfD) program to support the increase in adoption and use of broadband internet services and advanced information technology by eligible households and eligible Micro, Small, and Medium Enterprises (MSMEs), with a focus on rural areas.

Component 2: Innovation Services. This component provides training and technical assistance in support of developing the digital economy skills of individuals and support of firms receiving financial support under the Innovation and Startup Matching Grants programs.

Component 3: Innovation Financing. This component supports the: (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; (c) provision of Applied Research Grants to selected scientists through the Shota Rustaveli National Science Foundation (the Foundation); and (d) provision of technical assistance and related costs to the Foundation for the administration of the Applied Research Grants program, as well as to GITA and Enterprise Georgia, in administering support to MSMEs.

Implementing Institutions. The central institution responsible for coordination of the project is Georgia’s Innovation and Technology Agency (GITA) under the Ministry of Economy and Sustainable Development of Georgia (MoESD). GITA is responsible for all project implementation except for the Applied Research Grants program implemented by the Shota Rustaveli National Science Foundation. It will coordinate 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 objectives of this assignment is financial management of the Applied Research Grants Program subcomponent of the GENIE Project in accordance with financial management framework applicable to the project.

Scope of Work

The FM specialist is responsible for the overall financial management activities for the ARGP part of the GENIE Project. He/she will be responsible for timely reporting, acceptable to the World Bank, of both semi-annual and annual, financial aspects of the Project.

The FM specialist will be responsible for double entry bookkeeping for the Applied Research Grants Program part of the GENIE Project in accounting software. The consultant will implement the following activities so as to ensure a functioning, reliable accounting system capable of providing all necessary reports and data:

The FM specialist will have the following responsibilities and tasks:

  1. Maintain accounting records of project expenses in accordance with World Bank requirements and local legislation;
  2. Maintain procedures for collecting, checking and preparing documentation required for verifying Supplier's invoices. Record payment documentation and payments to Suppliers. Ensure that all payments are made in accordance with World Bank Guidelines;
  3. Prepare invoices for payment by verifying the invoice against contract terms and conditions;
  4. Verify post payments to Supplier's contract and compare against contract ceiling values;
  5. Assist the Procurement Unit in the preparation of all contract amendment documents (taking into consideration the thresholds given in the Loan Agreement(s)) for the procurement of additional goods, works and services and advise on application of taxes if any;
  6. Manage the Project Designated Account;
  7. Make timely payments to suppliers, contractors and consultants as specified in contracts;                                                                                                     
  8. Prepare withdrawal applications and timely documentation of Project expenditures;
  9. Reviewing and approving all requests for payment resulting under project activities.
  10. Prepare Interim Un-Audited Financial Reports in time and manner indicated in the Loan Agreement(s) and submit it to GITA for consolidation;
  11. Cooperate and coordinate work of auditors on Project Financial Statements with GITA, to ensure timely submission of auditors’ report within agreed deadline to the World Bank;
  12. Ensure that all project accounts are maintained in accordance with the World Bank regulations for auditing by independent international auditors;
  13. Performing project administrative duties as required to ensure that all contract files and procurement actions are complete and accurately reflect the financial status of each contract;
  14. Coordinate with the SRNSFG on all financial management activities to ensure its compliance with the project;
  15. Perform other project FM related duties required by the Client.

Location, Timeframe and Duration

Georgia’s Innovation & Technology Agency (GITA) now invites eligible individual consultants ("Consultants") to express their interest in providing the Services. The Consultant shall have the required qualification and experience, which will be evaluated with following criteria:

  • University degree in accounting, finance, economics, or other relevant field;
  • Three years’ experience of working on a similar position under the international financial institution (IFI) funded projects;
  • Experience working under the World Bank financed project will be an advantage;
  • Excellent written and verbal English language skills.


Note: We reserve the right to verify submitted references and use obtained information for evaluation purposes.


Interested eligible candidates must provide information demonstrating that they are qualified to perform the services and are invited to submit their CV (Curriculum Vitae) in English, which shall include the following information: education background, employment records, description of similar assignments carried out, relevant skill sets, etc.

The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank's Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers, January 2011, revised July 2014 ("Consultant Guidelines"), setting forth the World Bank's policy on conflict of interest.

The Consultant will be selected  in  accordance  with  the method  for Selection of Individual  Consultant  (IC)  set  out  in WB’s Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers, January 2011, revised July 2014.

The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank's Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers, January 2011, revised July 2014 ("Consultant Guidelines"), setting forth the World Bank's policy on conflict of interest.

Further information can be obtained at the address below during office hours from 9:00 a.m. to 18:00 p.m. at Georgia’s Innovation & Technology Agency, Tel: +995 591016716, Mr. Rati Gvelesiani, Procurement Consultant.

Expression of interest accompanied with CV in English shall be submitted to the email address indicated below not later than:


January 30, 2020 18:00 (GMT +4)
Georgia’s Innovation & Technology Agency
Att: Rati Gvelesiani
7, Innovation str. 0114, TechPark, Okrokana, Tbilisi, Georgia
Tel: +995 591016716
Please include the title of the announced position in the email subject line