Financial Sector Rapid Response - Additional Financing (WB-P160073)

Countries
  • Afghanistan
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
Oct 27, 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 Afghanistan
The holder of the loan, grant, or other investment.
Sectors
  • Communications
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 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)
$ 20.00 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 Jul 12, 2018

Disclosed by Bank Sep 16, 2016


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Project Description

This project is an additional funding to Financial Sector Rapid Response Project. The objective of this new project is to assist Da Afghanistan Bank (DAB) (Central Bank of Afghanistan) to develop action plans for improved banking supervision and to establish key building blocks of financial sector infrastructure: payment system, movable collateral registry, and public credit registry. The project has three (3) components; 1) Strengthening of DAB - Provide technical assistance to DAB to upgrade the internal audit functions and implement International Financial Reporting Standards (IFRS); 2) Development of the financial sector infrastructure - Support the development of financial sector infrastructure, including the improvement of internal Information and Communication Technology (ICT) systems of DAB to achieve full automation of core functions, improve operational reliability and enhance operational efficiencies; 3) Technical assistance and training for project implementation - Roll-out a comprehensive skills development program for technical and operational DAB staff, in addition to building capacity of relevant departments to facilitate the implementation of the project activities.

Investment Description
  • World Bank (WB)
Contact Information

Name: Islamic Republic of Afghanistan
Contact: Jabarkhail
Title: Head of Aid Management Directorate
Email: moheb.jabarkhail@budget.gov.af

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.