Public Expenditure and Fiscal Risk Management DPF-DDO (WB-P154981)

Countries
  • Peru
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
Feb 11, 2016
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
MINISTERIO DE ECONOMIA Y FINANZAS - MEF
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1,250.00 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)
$ 1,250.00 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.
Primary Source

Original disclosure @ WB website

Updated in EWS Nov 26, 2017

Disclosed by Bank Aug 31, 2015


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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 Development Policy Financing with a Deferred Drawdown Option (DPFDDO) in the amount of US$1.25 billion aims to support the Government of Peru (GoP) in their efforts to improve public expenditure and fiscal risk management. Against the backdrop of a less favorable external environment the GoP embarked upon the implementation of structural reforms to boost human capital and productivity, and to promote fiscal effectiveness and responsibility. Within this context, the proposed operation supports the GoP’s efforts to improve: (i) the management and reporting of public expenditures in subnational governments (SNGs), and (ii) the Government’s legal and institutional framework for public-private partnerships (PPPs). As part of its overall reform program, the GoP has focused on improving the public management and reporting framework for subnational levels, and the basis to evaluate fiscal risks coming from PPP projects. This operation supports the objectives of the authorities’ reform efforts to improve: (i) the management and reporting of public expenditures in subnational governments’ (SNGs), and (ii) the Government’s legal and institutional framework for public-private partnerships (PPPs). A parallel, and complementary DPF-DDO, would support a boost to firms’ human capital and productivity focusing on: (a) enhancing the education policy framework to enable better quality of skills, (b) facilitating the entry, operation, and exit of firms; and (iii) reducing transaction costs in trade. Other important factors, limiting growth are the country’s infrastructure gaps and managing the available resources for public investments adequately. The objectives of these DPF-DDOs are fully aligned with key parts of the 2012-16 Country Partnership Strategy (CPS).
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.
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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