Finance for Jobs II Additional Financing (WB-P167675)

Countries
  • Palestine, West Bank, Gaza
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 10, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Palestine Liberation Organization (for the benefit of the Palestinian Authority)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Feb 14, 2019

Disclosed by Bank Jun 26, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The objective of the project is to test the effectiveness of selected financial interventions in incentivizing private sector investment and job creation. The additional funding of US$5 million will be financed as a part of the Private Sector Enhancement Facility (PSEF) initiative under Pillar 2 of the Assistance Strategy for the West Bank and Gaza. The additional funding will help to scale up the Investment Co-Financing Facility (ICF) component (component two) of the Finance for Jobs II project and finance eligible job-creating investment opportunities identified from the private sector. The additional funding could finance proposals received through the recent Investment Co-Financing Facility call for proposals completed in April 2018, or from future calls for proposals as needed. The Investment Co-Financing Facility is a risk-sharing facility that provides co-financing to commercially viable private sector investments that would otherwise not proceed due to the high risk fragile, conflict, and violence (FCV) environment. The additional funding is timely to capitalize on the strong demand from the private sector for risk-sharing co-financing provided by the ICF component, while also operationalizing the World Bank Group’s Maximizing Finance for Development (MFD) agenda and the Assistance Strategy for the West Bank and Gaza.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank:
Abdalwahab Khatib
Financial Sector Specialist

Stefanie Lynn Ridenour
Financial Sector Specialist

Borrower:
Palestine Liberation Organization (for the benefit of the Palestinian Authority)

Implementing Agencies:
Ministry of Finance and Planning
Shukri Bishara
Minister
minister@pmof.ps

Project Implementing Agency (DAI)
Said Abu Hijleh
Country Director
Said_AbuHijleh@dai.com 

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.

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How it works