Equal Access and Simplified Environment for Investment Project - Phase II (WB-P169157)

Countries
  • Egypt
Geographic location 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
Proposed
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
Jan 21, 2019
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
Government of Egypt
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 1.75 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 Feb 13, 2019

Disclosed by Bank Oct 12, 2018

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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 bank documents, the objective of the project is to improve the regulatory environment for investors through simplified licensing and transparent industrial land allocation processes.

The Additional Financing (AF) will scale-up activities being implemented under the Component 1 “Facilitating Accessible and Transparent Investor Services (GAFI)” of the parent project. The AF remains fully aligned with the Country Partnership Framework (CPF) and Systematic Country Diagnostic (SCD) overarching goals of promoting
a private sector led job creation agenda and inclusive growth. The details of activities to be supported through this AF are described below:

  1. Activity 1: Supporting the Role of Investor Service Center (ISC) as the National Platform for Business Registration The AF aims to strengthen GAFI’s role, in line with the new Investment Law, as the main business entry point for all sorts of companies and the “one window” for providing certain licensing and permits activities to investors. This requires the development of a comprehensive and functional digital system to mainstream business procedures, connect the central and subnational levels, facilitate easy access to the system in all geographical areas and adopt international successful practices in provision of government services.
  2. Activity 2: Expanding Digital Transformation in GAFI The parent project assists GAFI in establishing an online portal and in providing electronic services to investors
    through the Investors Service Center. Further developments are needed to efficiently manage investment data, expand investors’ online services and connect affiliate entities to the digital network, which will be supported through the AF.
  3. Activity 3: Sustaining Reforms through Enhancing Human and Organizational Capacities The AF will support the sustainability of reform outcomes through a comprehensive strategy targeting organizational and human competencies. This will be guided by international successful practices in improving managing institutional change, as well as the lessons learnt from the parent project capacity building activities that emphasize the value of developing a strategic approach to strengthening human capacities.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.

World Bank:
Andrei Mikhnev
Head

Borrower:
Ministry of International Cooperation and Investment/General Authority for Investment
Sahar Nasr
Minister
snasr@moic.gov.eg

Industrial Development Authority
Eng. Ahmed Abdel Razek
Chairman
ahmed.abdelrazek@ida.gov.eg

Implementing Agency:
General Authority for Investment and Free Zones

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