Kosovo Public Finances and Growth DPF (WB-P170113)

Countries
  • Kosovo
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
Oct 23, 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
Kosovo Ministry of Finance
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)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 40.00 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)
$ 40.00 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 Feb 25, 2020

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 Bank documents, this project provides a development policy loan to support reforms in managing fiscal risks and improvements to the regulatory environment to foster private sector development.

From the Bank's document:

"The first pillar - managing fiscal risks through evidence-based decision making and fiscal transparency would focus on improvements in debt management operations through aligning the Debt Law to international best practice and harmonizing within the existing legislation, a more comprehensive and transparent way of managing public employment through the secondary legislation on the Laws on Public Wages and Public Employment, containment of the the immediate fiscal risks through restraining the value of the wage coefficient and the number of vacant and budgeted positions, improvements in the the costing and responsibility of social protection initiatives, and improvements in the coverage and targeting of the social assistance program to maximize its impact on poverty reduction. The freezing of the new untargeted social protection initiatives would also supports managing fiscal risks through the 2020 budget.

The second pillar - improving the regulatory environment to foster private sector development will focus on reducing administrative burden on private sector by consolidating, and simplifying licenses and permits at the central level, by better coordinating inspections through the new inspections law, by promoting equitable job creation through promoting anti-discrimination at work and providing more flexible forms of employment. The second pillar also supports the business environment through Energy Efficiency measures to relax the energy supply constraints."

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:

Kosovo Ministry of Finance; Bedri Hamza, Minister of Finance. bedri.hamza@rks-gov.net

Implementing Agencies:

Ministry of Labor and Social Welfare; Skender Recica, Minister. skender.recica@rks-gov.net

Ministry of Trade and Industry; Endrit Shala, Minister endrit.shala@rks-gov.net

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