Modernization of State-Owned Financial Institutions Project (WB-P155363)

Countries
  • Bangladesh
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
Canceled
Bank Risk Rating
C
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
Jun 30, 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 Bangladesh
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2016-06-30 exchange rate.
Project Cost (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2016-06-30 exchange rate.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 11, 2017

Disclosed by Bank Oct 11, 2015


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Project Description
This project funds improvements to Bangladeshi state owned banks, with the goal of modernizing banking practices and improving services offered. The project will provide reviews of current bank policies and procedures, as well as provide advisory support.
Investment Description
  • World Bank (WB)
Contact Information
World Bank Contact: Marius Vismantas Title: Lead Financial Sector Speciali Tel: 473-5591 Email: mvismantas@worldbank.org Contact: Shah Nur Quayyum Title: Financial Sector Specialist Tel: 5764+4239 / Email: squayyum@worldbank.org Borrower/Client/Recipient Name: Peoples Republic of Bangladesh Contact: Dr. Aslam Alam Title: Secretary Tel: 88029576013 Email: maslam@finance.gov.bd Implementing Agencies Name: BFID Contact: Dr. M. Aslam Alam Title: Secretary Tel: 88029576013 Email: maslam@finance.gov.bd 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.