Development Policy Credit 2: Fiscal Sustainability&Investment Climate (WB-P157469)

  • Bhutan
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
Bank Risk Rating
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
Dec 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.
Department of Public Accounts, Ministry of Finance
The holder of the loan, grant, or other investment.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 24.00 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)
$ 24.00 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 14, 2017

Disclosed by Bank Sep 14, 2016

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Project Description
According to bank documents, the objectives of the Second Fiscal Sustainability and Investment Climate Development Policy Credit Project for Bhutan are to promote fiscal discipline, improve access to finance for enterprises, and improve the climate for business entry and investment in Bhutan. The programmatic series has three pillars: (i) strengthening fiscal sustainability and self-reliance; (ii) increasing access to finance; and (iii) improving the investment climate and increasing domestic and foreign investment.
Investment Description

Contact Information
Borrower Contact: Choiten Wangchuk Title: Director General, Department of Public Accounts, Ministry of Finance Tel: 975-17-607-590 Email: World Bank Contact (1): Yoichiro Ishihara Title: Senior Economist Tel: +975-17-124-534 Fax: +975-77-182-122 Email: Location: Thimphu, Bhutan (IBRD) Contact (2): Massimiliano Santini Title: Senior Economist Tel: +1-202-458-2967 Email: Location: Washington, DC (IFC) 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 You can learn more about the Inspection Panel and how to file a complaint at: