2nd Strengthening Growth & Fiscal Policy Development Policy Financing (WB-P161707)

Countries
  • Sao Tome and Principe
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
Approved
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
May 18, 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 Sao Tome and Principe
The holder of the loan, grant, or other investment.
Sectors
  • Technical Cooperation
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)
$ 6.00 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)
$ 6.00 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 Aug 10, 2018

Disclosed by Bank May 2, 2017


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Project Description

The proposed operation is the second of a series of three Development Policy Financing. The first operation (P159010) in the amount equivalent to US$5 million was approved by the Board on November 30, 2016. The government is benefiting from a more than fourfold increase in its IDA allocation. As a result, the World Bank is gradually building up its knowledge and program in this small-island country.


The objective of this operation is to help the government introduce growth-enabling reforms in the financial sector, business environment, and infrastructure; generate fiscal resources and savings; and improve quality of expenditures. These reforms address the causes of the development challenges and risks to growth faced by STP. The operation is structured in two pillars.

  1. The first one supports policies aimed at reducing risks from financial sector through improved bank supervision, and to foster private sector-led growth by improving access to credit and energy, which are foundational for the development of STP’s tourism and agriculture – its main comparative advantages.
  2. The second pillar deals with the risk of fiscal fragility and the challenges of low inclusiveness of growth.
Investment Description
  • World Bank (WB)
Contact Information

Borrower:
Contact: Ginésio da Mata
Title: Budget Director
Tel: 239 2221083
Email:

Implementing Agency:
Ministry of Finance, Trade and Blue Economy

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.