Modernizing Afghan State-Owned Banks Project (WB-P161348)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
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
Mar 28, 2018
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 Islamic Republic of Afghanistan
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
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)
$ 40.00 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)
$ 40.00 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 Sep 17, 2018

Disclosed by Bank Nov 22, 2016


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Project Description

The objective of the project "is to enhance the corporate governance and operational efficiency of the supported Afghan state-owned banks, thereby contributing to their improved financial soundness and outreach".

The proposed project seeks to undertake the modernization of state owned banks in Afghanistan in order to address the underlying deficiencies of the country's financial sector that could result in economic growth and job creation.

The project will include the following three components:

(i) Strengthening the ownership role of Ministry of Finance and the corporate governance of state owned banks.

(ii) Supporting institutional development and business strategy of state owned banks as well as the modernization of IT systems and business processes of banks.

(iii) Support for project implementation and monitoring.

Investment Description
  • World Bank (WB)
Contact Information

World Bank
Ahmed Mohamed Tawfick Rostom
Senior Financial Sector Specialist

Email and telephone contacts were not disclosed.

Borrower/Client/Recipient
ISLAMIC REPUBLIC OF AFGHANISTAN

Implementing Agencies
Ministry of Finance
Mohammad Aqa
Deputy Minister - Administration
M.Aqa@mof.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.