Resilient Institutions for Sustainable Economy (WB-P171850)

Countries
  • Pakistan
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
U
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.
Borrower
Government of Pakistan
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS May 18, 2020

Disclosed by Bank Nov 18, 2019


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Project 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
  • World Bank (WB)
Contact Information

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 .