Georgia - Forests for Resilience and Economic Transformation (FoRET) Project (WB-P169393)

Countries
  • Georgia
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
A
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
Mar 27, 2020
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 Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Infrastructure
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)
$ 25.00 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.
Project Cost (USD)
$ 30.00 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 Aug 16, 2019

Disclosed by Bank Jun 28, 2019

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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 the Bank's website, this project aims to improve the multipurpose management of and increase economic benefits from forests in targeted areas. This will entail three components:

1. Improving national capacity for multipurpose forest management and implementation by (i) ensuring adequate national level support for implementation of sustainable forest management and forest restoration / rehabilitation as well as forest control, and (ii) providing support to national level organisations to strengthen fire management, and develop multipurpose seeding capacity (nurseries)

2. Improving sustainable forest landscape management and law enforecement in target areas by investing in development and implementation of multipurpose forest management plans and forest restoration in target foest areas (including training and law enorcement and supervision) and support the establishment and management of Emerald Network sites (conservation areas throughout Europe)

3. Promoting economic growth and tourism through job creation in targeted areas

Specific environmental and social risks arise from the elimination of the 'social cutting' system, which provides 600,000 families with the right to harvest fuelwood under the supervision of the National Forest Agency. Additionally, the project will invest in infrastructure including 100-200km of new roads in targeted areas. 

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.

Borrower/Client/Recipient: Ministry of Finance; Nikoloz Gagua, Deputy Minister. tbd@tbd.com

Implementing Agencies: Ministry of Environmental Protection and Agriculture; Carl Amirgulashvili, Head of Biodiversity and Forestry Department. Karlo.Amirgulashvili@mepa.gov.ge

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.

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How it works