South Africa: Catalyzing Financing and Capacity for the Biodiversity Economy around Protected Areas (WB-P170213)

Countries
  • South Africa
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
Bank Risk Rating
B
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
Jul 31, 2020
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
National Treasury
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 8.99 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 Mar 2, 2020

Disclosed by Bank Sep 11, 2019


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Project Description

According to bank documents, the project objective is to leverage financial resources and improve capacity to implement the Biodiversity Economy and increase benefits from selected PA landscapes to local communities.

The project has three components:

  1. Strengthen multi-stakeholder cross-sectoral collaboration and management in targeted PA landscapes [US$ 3.3M from GEF]. Strengthen capacity of targeted PA agencies (SANParks, iSimangaliso Wetland Authority) to promote socio-economic development. This sub-component will enable targeted PA agencies to effectively support business development for local communities and promote PES in targeted landscapes, with a focus on economic opportunities for women and youth.
  2. Increase benefits from Protected Areas to local communities [US$ 5M from GEF]. Promote Biodiversity Economy business through a Launchpad tool to catalyze resources, identify markets, and link supply with demand for jobs in PAs landscapes. The subcomponent will finance the development of a Launchpad, an online platform managed by targeted institutions (SANParks and iSimangaliso Wetland Authority).
  3. Project Management [US$ 0.70M from GEF]. This includes funding for the PIUs at SANParks and iSimangaliso Authority, the project steering committee, M&E, social and environmental safeguards application and communications.
Investment Description
  • World Bank (WB)
Contact Information

World Bank:
Iretomiwa Olatunji, Nathalie Weier Johnson
Senior Environmental Specialist

Borrower:
National Treasury

Implementing Agencies:
South Africa National Parks (SANParks)
Fundisile Mketeni
CEO
fundisile.mketeni@sanparks.org

iSimangaliso Authority
Sibusiso Bukhosini
CEO
Bukhosini@isimangaliso.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.