FY17 Chad Emergency DPO (WB-P163968)

Countries
  • Chad
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
Jun 29, 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
REPUBLIC OF CHAD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 65.00 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)
$ 65.00 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 25, 2017

Disclosed by Bank May 30, 2017


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Project Description
The development objective of the Emergency Fiscal Stabilization Development Policy Operation Project for Chad is to support immediate fiscal stabilization through expenditure rationalization. The Government of Chad (GoC) remains at a critical juncture to meet the pressing financing needs of the 2017 budget in the aftermath of multiple shocks combining the oil price collapse, terrorist threats, and related security costs as well as an ensuing humanitarian crisis. The reform program supports the government’s response to the immediate fiscal crisis and to address some related negative social impacts. The emergency fiscal stabilization operation (EFSO) is prepared in the context of a more pronounced than expected gross domestic product (GDP) contraction of 6.4 percent in 2016 and the persistence of severe fiscal pressures. The government is demonstrating strong determination to manage what seems a much deeper and longer fiscal and social crisis than expected. The government has functioned on the basis of cash-based budget execution since early 2016, cutting public expenditure by 10.8 percent of non-oil GDP between 2014 and 2016. On the other hand, additional domestic borrowing by the government will further increase commercial banks’ already high levels of direct and indirect exposure to the public finances.
Investment Description
  • World Bank (WB)
Contact Information
Contact: Abdoulaye Barh Bachar Title: Secretary General, Finance and Budget, Ministry of Finance and Budget Email: barh52000@yahoo.fr 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.