Resilient Institutions for Sustainable Economy (WB-P171850)

Countries
  • Pakistan
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."
Borrower
Government of Pakistan
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)
$ 500.00 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)
$ 500.00 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
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS May 18, 2020

Disclosed by Bank Nov 18, 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 document, the project aims to "achieve its policy objectives through two pillars. First aims at enhancing the policy and institutional framework to improve fiscal management; and second aims at improving the regulatory framework tofoster growth and competitiveness. The first pillar aims to support reforms aimed at improving credibility of fiscal policy through effective establishing effective institutionsand intergovernmental coordination mechanisms, enhance debt transparency and management, broadening the tax base and reducing distortions in tax policy, improving the financial viability of the energy sector through resolution of circular debt, and reducethe fiscal burden on the budget and contingent liabilities arising from SOEs. The second pillar aims to support reforms to improve the regulatory framework to foster growth and competitiveness. Private investment is severely constrained due to the way GST is administered across the country, an opaque and overregulated business environment, a shallow financial sector, and significant anti-export bias of the national tariff policy.The government has put enhancing private investments and exports at the top of the economic transformation agenda. In this regard the government has committed to harmonizing the GST across the country, significantly improve the regulatory environment related to ease of doing business, implement policies for unlocking digital finance, and reduce the anti-export bias."

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
Muhammad Waheed, Enrique Blanco Armas, Saiyed Shabih Ali Mohib
Senior Economist

Borrower/Client/Recipient
Economic Affairs Division
Noor Ahmed, Secretary
secretary@ead.gov.pk
Implementing Agencies

Finance Division, Ministry of Finance
Kamran Ali Afzal, Additional Secretary
k.a.afzal@finance.gov.pk

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