Cabo Verde Resilient Tourism and Blue Economy Development Second AF (WB-P181369)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Cape Verde
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ribeira da Barca, Santiago Island, Carriçal, São Nicolau, Boa Vista, Paul, Santo Antão, Sal Island
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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
Apr 30, 2024
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
Government of Cape Verde - Ministry of Finance and Business Development and others
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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.
Project Cost (USD)
$ 30.00 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 Aug 5, 2024

Disclosed by Bank Jan 22, 2024

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Can you contribute information about this project?
Contact the EWS Team

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.

According to the Bank’s website, the project development objective is to "increase diversity and resiliency in the tourism offering and small and medium enterprise (SME) participation in tourism-related value chains in targeted destinations."

Components
Component 1: Development of integrated and resilient tourism and blue economy infrastructure
Component 2: Enhancement of inclusive and sustainable management of tourism in a blue economy
Component 3: Project Implementation Support
Component 4: Contingent Emergency Response Component (CERC)

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

According to the World Bank, the project E&S risk is 'Substantial'.

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 Team Leaders:

Michael Olavi Engman - Lead Economist
Cristina Navarrete Moreno - Senior Private Sector Specialist
Veruschka Schmidt - Senior Environmental Specialist

No contacts provided at the time of disclosure.

Implemeting Agencies -

Ministry of Culture and Creative Industries and Ministry of the Sea:

Iolanda Brites - National Coordinator for the Blue Economy Program at the Min
Email: Iolanda.Brites@mem.gov.cv

Ministry of Finance and Business Development:

Gilson Pina - National Director for Planning
Email: gilson.g.pina@mf.gov.cv

Ministry of Infrastructure, Territorial Planning and Housing:

Carlos Filipe Correira e Silva - Presidente do Conselho de Administracao, Infraestructuras de
Email: CarlosF.Silva@infraestruturas.cv

Ministry of Tourism and Transports:

Pedro Santana - Director of Studies and Planning at the MTT
Email: pedro.santana@mtt.gov.cv

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE 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. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works