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

Countries
  • Romania
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
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 26, 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 PUBLIC FINANCE
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 493.06 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)
$ 465.00 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 Jan 31, 2019

Disclosed by Bank Dec 29, 2017


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Project 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
  • World Bank (WB)

World Bank Lending  US$ 465.00 million

Contact Information

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.