Third Programmatic Shared Prosperity Development Policy Financing (WB-P166159)

Countries
  • Panama
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 15, 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
Ministry of Economy and Finance
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Law and Government
  • Water and Sanitation
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)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 100.00 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)
$ 100.00 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 Jul 13, 2018

Disclosed by Bank Feb 14, 2018


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Project Description

According to the World Bank, the development objectives of the Third Programmatic Shared Prosperity Development Policy Financing Project for Panama are to support the government of Panama’s efforts to:

(i) strengthen the frameworks for international tax transparency, financial integrity, and fiscal management

(ii) strengthen institutional arrangements to support social assistance and education

(iii) enhance the regulatory and sustainability framework in the energy and water sectors.

The Bank expects the following outcomes from the project: 

  1. a stronger framework for international tax transparency and financial integrity will improve investor confidence and support economic growth, while the strengthening of fiscal management will help ensure fiscal sustainability. 
  2. improved transparency and better targeting of social protection systems will help direct resources to those that need them the most, while improved quality of education will contribute to advancing opportunities, particularly for vulnerable youth, and supporting the competitiveness agenda to boost long-term productivity growth. 
  3. an enhanced regulatory and sustainability framework for energy will help increase the fiscal space needed to safeguard social assistance and education programs and heling to meet global commitments on climate change.
Investment Description
  • World Bank (WB)

The International Bank For Reconstruction And Development arm of the World Bank will provide the funding for this project. 

Contact Information

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.