Modernization and Restructuring of the Road Sector (WB-P163833)

Countries
  • Croatia
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
B
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
Apr 28, 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
Ministry of Finance for Croatia
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 370.70 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)
$ 1,083.32 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 Jan 11, 2018

Disclosed by Bank Mar 31, 2017


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Project Description
According to bank documents, the project supports the implementation of measures contained in the LSP, and aims to improve the institutional effectiveness, operational efficiency and debt service capacity of the Croatian Road Sector, through a combination of public investment controls, operational improvements, debt optimizing and credit enhancement measures. The project is expected to put Road Sector SOEs in a position that allows them to access commercial finance. The project scope has three components. The first two components are supported by the IBRD loan. The third component relates to provision of an IBRD project guarantee to re-profile some of the existing sector debt, and benefits from an existing EBRD loan contributing to HAC debt refinancing. Component 1: Institutional strengthening and sector reforms Component 2: Operational restructuring of road sector SOEs Component 3. Debt optimization
Investment Description
  • World Bank (WB)
Contact Information
Team Leader: Jean-Francois Marteau Borrower/Client/Recipient: Ministry of Finance Contact: Zeljko Tufekcic, State Secretary Email Address: zeljko.tufekcic@mfin.hr Implementing: Ministry of Sea, Transport and Infrastructure (MSTI) Contact:Tomislav Mihotic, State Secretary Email Address: josipa.vukasovic@mmpi.hr 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.