Philippine Rural Development Project Additional Financing (WB-P161944)

Countries
  • Philippines
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
Jan 11, 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 the Philippines
The holder of the loan, grant, or other investment.
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, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Feb 19, 2018

Disclosed by Bank Oct 3, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project 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
  • World Bank (WB)
Contact Information

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.