Pacific Islands Regional Oceanscape Program Forum Fisheries Agency (WB-P153429)

Regions
  • East Asia and Pacific
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
Approved
Bank Risk Rating
B
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
Dec 22, 2014
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
Pacific Islands Countries, Forum Fisheries Agency
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 6.16 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 2.19 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)
$ 6.16 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 @ WB website

Updated in EWS Oct 22, 2017

Disclosed by Bank Nov 20, 2016


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Project Description
According to WB documents, Pacific Islands Ocean Region covers some 11 percent of the world's ocean area and is home to 22 small island countries and territories. The economies of Pacific Island countries (PICs)1 are fundamentally shaped by this geography as much as any other feature. PICs comprise around 9 million people living on hundreds of islands and sharing common transboundary ocean and fishery resources. These resources are threatened by numerous factors which include overfishing, coastal habitat degradation and pollution from a wide range of sources. Additionally, climate change is projected to result in sea level rise, increased sea surface temperatures (with impacts on fishery resources and habitats), potentially more intense and frequent storm events in the region, and increased acidity - which has important implications both for food security and for the coastal protection services provided by coral reefs. The program aims to improve environmental and resource quality in the Pacific Islands Region in order to increase the economic benefits generated by the sustainable management of the region’s oceanic and coastal fisheries, and the critical habitats that sustain them.
Investment Description
  • World Bank (WB)
Contact Information
Team Leader: Denis Jean-Jacques Jordy World Bank No contact information provided at the time of disclosure. 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.