Bangladesh Insurance Sector Development Project (WB-P156823)

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
Active
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
Mar 20, 2017
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
People's Republic 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)
$ 65.00 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)
$ 80.00 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 1, 2017

Disclosed by Bank Mar 25, 2016


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Project Description
According to bank documents, the objective of the Insurance Sector Development Project for Bangladesh is to strengthen the institutional capacity of the regulator and state owned insurance corporations and increase the coverage of insurance in Bangladesh. The project has three components: (i) Improving the Capacity of the Insurance Development and Regulatory Authority (IDRA) and the Bangladesh Insurance Academy (BIA); (ii) Modernization, Strengthening and Increasing the Efficiency of the State-owned Insurance Corporations; and (iii) Project Implementation, Management, and Monitoring.
Investment Description
  • World Bank (WB)
Investment Project Financing
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. CONTACTS World Bank Contact: Korotoumou Ouattara Title: Sr Financial Economist Contact: Serap Gonulal Title: Lead Insurance Specialist Borrower/Client/Recipient Name: PEOPLE'S REPUBLIC OF BANGLADESH Contact: Md. Eunusur Rahman Title: Secretary Email: maslam@finance.gov.bd Implementing Agencies Name: Insurance Development and Regulatory Authority (IDRA) Contact: M. Shefaque Ahmed Title: Chairman Email: idra.bd@gmail.com