Yemen Emergency Crisis Response Project - Third Additional Financing (WB-P164564)

Countries
  • Yemen
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
Proposed
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
Nov 1, 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 Yemen
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 140.00 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)
$ 150.00 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 Feb 14, 2019

Disclosed by Bank Sep 19, 2018


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Project Description

Original objective:
The project objective, prior to project restructruing was “to provide short-term employment and access to selected basic services to the most vulnerable; and preserve existing implementation capacity of two service delivery programs”.

Current objective:
The project objective, following approval of additional financing-2 and restructuring is “to provide short-term employment and access to selected basic services to the most vulnerable; preserve existing implementation capacity of two service delivery programs; and provide emergency cash transfers to the poor and vulnerable in response to the food crisis”.

The proposed additional financing aims to provide resources to further scale up the impact of the project by extending CT to cover the existing beneficiaries of the CT program for two additional quarters to provide them with relative income stability and predictability. The additional financning is expected to enhance the purchasing power of beneficiary households to meet their food and basic necessities. The proposed AF will expand the social assistance from three to five-six quarters in total, extending the coverage period from July 2018 to December 2018, or March 2019 depending on the exchange rate and YR equivalent. This is intended to contribute to the expanded capacity and efficiency of safety nets in response to the food insecurity and risk of famine and has the potential to lead to activities that increase climate adaptation measures and reduce the need to adopt coping mechanisms that decrease adaptive capacity to climate change, and other risks. The proposed AF3 does not require any change to the project’s current objective, design, components/activities, or implementation arrangements -apart from the addition of the grant amount of US$140 million under the ECT (Component 3) as well as a three-month extension of the project’s closing date to allow for closure of all accounts – from June 31, 2019 to September 30, 2018. AF3 brings the project’s total financing to US$640 million.

Investment Description
  • World Bank (WB)
Contact Information

World Bank:
Afrah Alawi Al-Ahmadi
Sr Social Protection Specialist

Borrower:
UNDP
Auke Lootsma
Country Director
auke.lootsma@undp.org

United Nations Children's Emergency Fund (UNICEF)

Implementing Agencies:
UNDP
Auke Lootsma
Country Director
auke.lootsma@undp.org

UNICEF
Meritxell Relano
Representative
mrelano@unicef.org 

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.