Emergency Assistance for Recovery from Tropical Cyclone Winston (ADB-50181-001)

Countries
  • Fiji
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
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
Jun 30, 2016
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
  • Construction
  • Infrastructure
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)
$ 100.00 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 @ ADB website

Updated in EWS Jul 31, 2017

Disclosed by Bank Aug 4, 2016


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Project Description
The emergency assistance loan (EAL) provides $50 million to assist the government finance additional disaster-related recovery expenditures in the FY2017 budget. The government requested ADB financing primarily to assist with reconstructing and building back better 495 schools that were damaged by Tropical Cyclone Winston. Of this total, 219 schools have been extensively damaged and government anticipates being able to rehabilitate approximately 60% of these during FY2017. All new buildings will be required to adhere to stringent standards to maximize their ability to withstand natural disasters. In addition government proposes to use a significant portion of the loan to finance expenditures for the Help for Homes program. This follows a request by the government to both ADB and the World Bank on 11 April 2016 for fast-disbursing emergency finance. In preparing this operation, ADB has worked closely with the World Bank, which will seek Board approval for $50 million of financing for its policy-based operation on 30 June 2016.
Investment Description
  • Asian Development Bank (ADB)
  • World Bank (WB)
World Bank US$ 50 million
Contact Information
Ministry of Economy Level 5x Ro Lalabalavu House 370 Victoria Parade Suva, Fiji ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main