Finance for Jobs II Additional Financing (WB-P167675)

Countries
  • Palestine, West Bank, Gaza
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
Aug 10, 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
Palestine Liberation Organization (for the benefit of the Palestinian Authority)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 5.00 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 Jun 26, 2018


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Project Description

The objective of the project is to test the effectiveness of selected financial interventions in incentivizing private sector investment and job creation. The additional funding of US$5 million will be financed as a part of the Private Sector Enhancement Facility (PSEF) initiative under Pillar 2 of the Assistance Strategy for the West Bank and Gaza. The additional funding will help to scale up the Investment Co-Financing Facility (ICF) component (component two) of the Finance for Jobs II project and finance eligible job-creating investment opportunities identified from the private sector. The additional funding could finance proposals received through the recent Investment Co-Financing Facility call for proposals completed in April 2018, or from future calls for proposals as needed. The Investment Co-Financing Facility is a risk-sharing facility that provides co-financing to commercially viable private sector investments that would otherwise not proceed due to the high risk fragile, conflict, and violence (FCV) environment. The additional funding is timely to capitalize on the strong demand from the private sector for risk-sharing co-financing provided by the ICF component, while also operationalizing the World Bank Group’s Maximizing Finance for Development (MFD) agenda and the Assistance Strategy for the West Bank and Gaza.

Investment Description
  • World Bank (WB)
Contact Information

World Bank:
Abdalwahab Khatib
Financial Sector Specialist

Stefanie Lynn Ridenour
Financial Sector Specialist

Borrower:
Palestine Liberation Organization (for the benefit of the Palestinian Authority)

Implementing Agencies:
Ministry of Finance and Planning
Shukri Bishara
Minister
minister@pmof.ps

Project Implementing Agency (DAI)
Said Abu Hijleh
Country Director
Said_AbuHijleh@dai.com 

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.