Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option (WB-P166303)

Countries
  • Romania
Geographic location where the impacts of the investment may be experienced.
Specific Location
National-wide
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 26, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MINISTRY OF PUBLIC FINANCE
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Infrastructure
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 493.06 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 465.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Jan 31, 2019

Disclosed by Bank Dec 29, 2017

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the World Bank document, the project aims to strengthen Romania’s institutional and legal framework to effectively manage the physical, social and fiscal impacts of natural disasters and climate change.

This objective will be achieved through reforms under two pillars:

i) Strengthen the Borrower’s national framework for disaster risk management and

(ii) Strengthen the Borrower’s capacity to systematically identify and reduce disaster and climate risks and to manage the financial impact of disasters.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

World Bank Lending  US$ 465.00 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/World Bank
Elif Ayhan, Alanna Leigh Simpson
Senior Disaster Risk Management Specialist

2/Borrower/Client/Recipient
Ministry of Public Finance
Name: Boni Florinela Cucu
Title: General Director

Email: boni.cucu@mfinante.gov.ro

3/Implementing Agencies
Ministry of Interior - General Inspectorate for Emergency Situations
Name: Raed Arafat
Title: Secretary of State

Email: arafatr@smurd.ro

Ministry of Regional Development
Name: Diana Tenia
Title: Director General

Email: diana.tenia@mdrap.ro

FOR MORE INFORMATION CONTACT
The World Bank
1818 H Street, NW
Washington, D.C. 20433
Telephone: (202) 473-1000
Web: http://www.worldbank.org/projects

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.

How it works

How it works