Colombia Fiscal and Growth DPL 1 (WB-P158739)

Countries
  • Colombia
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 600.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 600.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Nov 5, 2017

Disclosed by Bank Jul 11, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The project development objectives (PDOs) of the First Fiscal Sustainability and Competitiveness Development Policy Financing (DPF) Project for Colombia are to: (i) support fiscal consolidation measures and improved contingent liabilities management; and (ii) foster productivity in non-extractive sectors by strengthening the policy framework for trade facilitation, investment, competition, business regulation, and innovation. The DPF series supports Colombia’s efforts to maintain fiscal sustainability and enable the basis to accelerate productivity growth in the context of the ongoing peace process and under a less favorable external environment. Sound macroeconomic and structural policies, coupled with favorable external conditions (up to mid-2014), enabled a strong broad-based growth and poverty reduction. Fiscal reforms are a central priority to maintain sustainability, including in light of the potential costs of the ongoing peace process. The authorities value the Bank’s programmatic policy-based financing for its continuity in its support to the institutional reform agenda and the technical support that is embedded in the design and preparation of this DPF series. The operation also builds upon the current peace and post-conflict agenda and is well-aligned with the objectives of the World Bank Group’s Colombia country partnership framework (CPF) FY2016-2021.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
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.

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