Economic Management Support Operation First DPF (WB-P162402)

Countries
  • Mongolia
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
Nov 30, 2017
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 Mongolia
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)
$ 120.00 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)
$ 120.00 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 Dec 15, 2017

Disclosed by Bank May 30, 2017


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Project Description
According to the bank document, the Program Development Objective is to support the Government of Mongolia in restoring debt sustainability, strengthening the social protection system, and enhancing competitiveness. The project supported the Government’s efforts to restore debt sustainability, while protecting the poor by using appropriate measures (including the Food Stamp Program and other measures), and advancing long term structural reforms to stimulate the country’s economy. They acknowledged that there were signs of economic recovery in Mongolia, through improved market sentiments and business confidence for private investment. Directors also welcomed the program’s emphasis on strengthening domestic revenue through progressive tax measures. They called for the Government to maintain its commitment to reform, and to prioritize job creation, encouraging IFC involvement to support one World Bank Group intervention.
Investment Description
  • World Bank (WB)
Contact Information
Implementation Agency Ministry of Finance 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.