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

Countries
  • Iraq
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
U
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 20, 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
Republic of Iraq
The holder of the loan, grant, or other investment.
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, converted to USD$. 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, converted to USD$. Please see updated project documentation 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
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
  • World Bank (WB)
Contact Information
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.