Second Fiscal and Economic Reform Operation (WB-P155118)

Countries
  • Samoa
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
Sep 13, 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
Government of Samoa
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 5.00 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)
$ 5.00 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 Aug 2, 2017

Disclosed by Bank Jun 23, 2016


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Project Description
The development objectives of Second Fiscal and Economic Reform Operation Project for Samoa (i) to improve fiscal management in the areas of debt, procurement and revenue; (ii) to strengthen the payments system, tourism sector policy and private sector development opportunities as foundations for more robust economic growth over the medium term, and (iii) to strengthen the monitoring, reporting, and coordination of climate resilience activities in Samoa, as an important step toward increasing its resilience to the effects of climate change. The first development objective of the proposed operation is to strengthen public financial management in the areas of debt, procurement and revenue. The three reform areas that contribute to this objective are strengthening debt policy and management, strengthening public procurement processes to improve value for money in expenditure, and strengthening revenue collection. These reforms should assist the government to consolidate its public finances and rebuild the fiscal buffers it needs to respond to future external shocks. The second development objective of the proposed operation is to strengthen the payments system, tourism sector policy and private sector development opportunities as foundations for more robust economic growth over the medium term. The three areas that contribute to this objective are reforms to modernise the payments system, strengthen the sector policy for the critical tourism industry, and increase opportunities for private participation in the large state-owned enterprise sector. The third development objective of the proposed operation, which is new to the programmatic series, is to strengthen the monitoring, reporting, and coordination of climate resilience activities in Samoa, as an important step toward increasing its resilience to the effects of climate change.
Investment Description
  • World Bank (WB)
Contact Information
Mr Lavea Tupa’imatuna Iulai Lavea Title: Chief Executive Officer, Ministry of Finance Tel: +685-34-333 Email: iulai.lavea@mof.gov.ws 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.