Second Expenditure Rationalization, Energy Efficiency and State-Owned Enterprise Governance DPF (WB-P161167)

Countries
  • Iraq
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."
Voting Date
Dec 20, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Republic of Iraq
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 1,443.82 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)
$ 1,443.82 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.
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 13, 2017

Disclosed by Bank Oct 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 Second Expenditure Rationalization, Energy Efficiency, and State-Owned Enterprise Governance Development Policy Financing (DPF) Project for Iraq aims to achieve economic stabilization and lay the ground for structural reforms around three pillars, which form the operation’s program development objectives (PDOs) improve: (1) expenditure rationalization; (2) energy efficiency; and (3) the transparency and governance of state-owned enterprises. This operation comes at a time of unprecedented stress for Iraq. The country is facing the dual shock of a fiscally, socially, and politically costly brutal war waged by the Islamic State of Iraq and Syria (ISIS), and the sharp fall of the price of oil. This DPF series aims to support the government’s effort to safeguard economic stability and lay the foundations for longer-term structural reforms that will support private sector development and inclusive growth. This operation is a critical part of the World Bank’s Middle East and North Africa (MENA) region strategy to support peace and stability for economic and social inclusion.
Investment Description
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Contact Information
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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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