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

Countries
  • Peru
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
Bank Risk Rating
U
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
Feb 11, 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
MINISTERIO DE ECONOMIA Y FINANZAS - MEF
The holder of the loan, grant, or other investment.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1,250.00 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)
$ 1,250.00 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 @ WB website

Updated in EWS Nov 26, 2017

Disclosed by Bank Aug 31, 2015


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Project 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
  • World Bank (WB)
Contact Information
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.