Climate Resilience Improvement Project Additional Financing (WB-P157392)

Countries
  • Sri Lanka
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
B
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 21, 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 Sri Lanka
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
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)
$ 42.00 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)
$ 42.00 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 Jan 1, 2016


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Project Description
The objective of the Climate Resilience Improvement Project for Sri Lanka is to reduce the vulnerability of exposed people and assets to climate risk and to improve Government’s capacity to respond effectively to disasters. The additional financing (AF) will help the Government of Sri Lanka (GoSL) to finance the costs associated with the repair and disaster proofing of irrigation, flood control and road infrastructure that were damaged due to extreme rainfall in December 2014. In addition, financing is required to close a financing gap caused by cost escalation of civil works under the parent project. The major change associated with the additional financing is the scale up of component two which will result in revisions to; i) implementation schedule; ii) project costs; iii) annual disbursement estimates; iv) results framework (total outputs, annual output targets, and results indicators); and v) implementation arrangements. In addition, OP/BP 4.37 on safety of dams will be triggered due to the fact that several flood risk mitigation interventions on irrigation and flood control infrastructure will rely upon the performance of the upstream dams and reservoirs which are the direct source of water storage and supply to those infrastructure.
Investment Description
  • World Bank (WB)
Contact Information
PROJECT CONTACTS World Bank Contact: Suranga Sooriya Kumara Kahandawa Title: Disaster Risk Management Specialist Contact: Marc S. Forni Title: Senior Disaster Risk Management Borrower/Client/Recipient Name: Ministry of Finance Contact: Dr R H S Samarathunga Title: Secretary Email: sf@mo.treasury.gov.lk Implementing Agencies Name: Ministry of Irrigation and Water Resources Management Contact: Mr. R.M.W. Ratnayake Title: Secretary to the Ministry Email: rmw_rat@yahoo.com 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.