Philippine Rural Development Project Additional Financing (WB-P161944)

Countries
  • Philippines
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
Approved
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
Jan 11, 2018
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
Government of the Philippines
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 170.00 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)
$ 212.50 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Feb 19, 2018

Disclosed by Bank Oct 3, 2017

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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 parent project of this Additional Financing is the Philippine Rural Development Project (P132317). The parent project became effective December 3, 2014 and was implemented by the Department of Agriculture over a six-year period (IBRD funding of US501.25 million). The parent project was national in scope, covering all 81 provinces in the Philippines and was designed to build upon the earlier World Bank support through two consecutive Mindanao Rural Development Projects.

According to the World Bank website, this Additional Financing includes restructuring on the following components:

(i) the AF corrects the wording of the Project Development Objective to align it with the wording in the original loan agreement by dropping ‘by supporting smallholders and fisher folk to increase their marketable surpluses, and their access to markets’ from the original PDO wording in the Project Appraisal Document ;

(ii) the AF includes some revisions of the Results Framework indicators which aim to propose better measurable indicators to capture the substantial institutional reforms under the project, reflect the strong demand for farm-to-market roads vis-a-vis other rural infrastructures, and incorporate lessons from the existing project; and (iii) the AF will also include revisions to component cost, disbursement estimates and other adjustments.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank
PHWB
Contact:Frauke Jungbluth
Title:Lead Agriculture Economist

Email: Not provided

Borrower/Client/Recipient
PHBorr
Name:Government of the Philippines
Contact:Department of Finance
Title:Director
Email:dminimo@dof.gov.ph

Implementing Agencies
PHIMP
Name:DEPARTMENT OF AGRICULTURE
Contact:Emmanuel F. Piñol
Title:Secretary
Email:prdpnpco@gmail.com

 

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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How it works