Sustained Private Sector-Led Growth Reform Program (AIIB-000427)

Countries
  • Fiji
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 1, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Fiji
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 252.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jul 3, 2020


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Project Description

According to the bank's documents, "This Program is proposed under the COVID-19 Crisis Recovery Facility (the Facility) of the Bank and co-financed with the Asian Development Bank (ADB) as a policy-based loan under ADB’s Sustained Private Sector-Led Growth Reform Program (Subprogram 3). The Program supports the Government of Fiji (GOF) public finance for public health containment and treatment measures and a fiscal stimulus with a focus on social and economic protection."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Co-financing:
Asian Development Bank (Loan) US$ 200 million
Government of Australia –ProgrammaticApproach Policy Based Lending (Grant) US$ 0.7 million
New Zealand Grant -ProgrammaticApproach Policy Based Lending (Grant) US$ 1.5 million

Contact Information

Asian Infrastructure Investment Bank
Hubert Jenny, Project Team Leader
hubert.jenny@aiib.org

Asian Development Bank
Pamela Wyatt, Team Leader
pwyatt@adb.org

Erik Aelbers, Co-Team Leader
eaelbers@adb.org

Borrower
Mohammed Jabid, Manager
Fiscal Policy, Research and Analysis Division
Ministry of Economy
mohammed.jabid@economy.gov.fj

ACCOUNTABILITY MECHANISM OF AIIB
The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html .
 
The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html .