Additional Financing for Rural Competitiveness Project (COMRURAL) (WB-P158086)

Countries
  • Honduras
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
May 18, 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
REPUBLIC OF HONDURAS
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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)
$ 25.00 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)
$ 35.43 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 10, 2017

Disclosed by Bank Mar 31, 2016


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Project Description
This project involves Additional Financing to the Rural Competitiveness Project for Honduras (COMRURAL). From the World Bank: The objective of the Rural Competitiveness Project for Honduras is to contribute to increased productivity and competitiveness among organized rural small-scale producers through their participation in productive alliances. The Additional Financing will scale-up and expand activities to enhance the impact of a well-performing project that has proven effective in improving rural income and reducing the poverty gap, thus maximizing development impact and results in line with OP 10.00. To do this, it would: (i) further support existing productive alliances as well as support new productive alliances in the original project area; (ii) establish new productive alliances in six new departments; (iii) further support value chains prioritized under public policy in the project area; and (iv) finance institutional strengthening activities to improve the overall competitiveness of the agriculture sector. The AF will benefit around 5,500 additional rural households, largely indigenous, and continue promoting participation of women and use of good environmental and agricultural practices to contribute to climate adaptation and mitigation.
Investment Description
  • World Bank (WB)
The World Bank will loan USD 25 million to this project through their International Development Association (IDA). The project will also receive financing from local farmers organizations (USD 3.05 million) and from Honduras's financial intermediaries (USD 7.38 million). The total cost of the project is USD 35.43 million. The Honduran Strategic Investment Office will be the implementing agency.
Contact Information
World Bank Contact: Norman Bentley Piccioni Title: Senior Rural Development Speci Borrower/Client/Recipient Name: Republic of Honduras Contact: Wilfredo Cerrato Title: Minister of Finance Email: wcerrato@sefin.gob.hn Implementing Agencies Name: Ministry of Agriculture and Livestock Contact: Jacobo Paz Title: Minister Email: paz.jacobo@gmail.com Name: Honduran Strategic Investment Office (InvEst-H) Contact: Marco Bográn Title: Executive Director Email: mbogran@mcahonduras.hn 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.