First Fiscal and Decarbonization Management DPL (WB-P171912)

Countries
  • Costa Rica
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.
Voting Date
Mar 26, 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
Ministry of Finance
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 250.00 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)
$ 250.00 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 Jan 31, 2020

Disclosed by Bank Dec 2, 2019


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Project Description

According to the Bank's document, this project aims to strengthen Costa Rica's implementation of fiscal and low-carbon development strategies by: (i) adopting reforms to improve fiscal sustainability; and (ii) implementing priority climate actions. The goals of this project are: (1) increase Value Added Tax (VAT) revenues as a share of total tax revenue; (2) increase revenue from direct taxes; (3) increase nominal growth rate of public wage bill; (4) increasing maturity of government debt; (5) update three environmental sectoral policies; and (6) evaluation of the policies on certain products. 

Investment Description
  • World Bank (WB)
Contact Information

Borrower/Client/Recipient

Ministry of Finance: Melvin Quiros-Romero General Director, Debt Department quirosrme@hacienda.go.cr

Implementing Agencies

Ministry of Finance: Leticia Chavez-Barboza Coordinator chavesbl@hacienda.go.cr 

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.