Fiscal Sustainability and Climate Resilience DPO (WB-P165276)

Countries
  • Fiji
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
Apr 2, 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 FIJI
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • 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)
$ 15.00 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)
$ 15.00 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 Jun 19, 2018

Disclosed by Bank Feb 15, 2018


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Project Description

The bank document stated that the operation follows the post-Cyclone Winston in 2016 to support the government’s effort to: (i) strengthen medium-term fiscal sustainability; (ii) improve the investment climate; and (iii) build climate resilience. Under the first pillar, the government is simplifying the tax system to encourage compliance and private-sector-led growth and strengthening the monitoring framework of fiscal risks associated with the country’s sizeable state-owned enterprise sector. Under the second pillar, the government is removing obstacles to Foreign Direct Investment (FDI) by updating the country’s arbitration law to recognize and enforce overseas arbitration awards and improving the business climate by reducing costs of dealing with construction permits. Under the third pillar, the government is strengthening climate resilience of all new buildings by adopting more stringent building standards.

Investment Description
  • World Bank (WB)
Contact Information
World Bank
Contact: Ms Mizuho Kida
Title: Senior Economist
Telephone: +61 2 9235 6555
Email: mkida@worldbank.org
 
Borrower
Contact: Ms Makereta Konrote
Title: Permanent Secretary of Economy
Telephone: +679 330 7011
Email: makereta.konrote@economy.gov.fj

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.