Indonesia Disaster Risk Finance & Insurance (WB-P173249)

Countries
  • Indonesia
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
A
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
Dec 15, 2020
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
Government of the Republic of Indonesia
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • 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.
Loan 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)
$ 510.00 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 Jun 10, 2020

Disclosed by Bank Jun 4, 2020

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Contact the EWS Team

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 proposed Investment Project Financing with Performance-Based Conditions (IPF-PBC) Project (the “Project”) aims to support the establishment of the pooling fund and associated activities as a key component under Indonesia’s Disaster Risk Finance and Insurance (DRFI) program as constituted by its National DRFI Strategy and Implementation Plan 2018-2023.

It will consist of IPF-PBC financing in the amount of US$500 million from IBRD, complemented by a small grant-based IPF component to support capacity strengthening and provide technical assistance for successful implementation of the Program. For this, the team will seek financing in the amount of US$ 10 million from the Global Risk Financing Facility.

The Project Development Objective is to strengthen the financial and fiscal resilience of the Government of Indonesia to natural disasters and health-related shocks.

There are several project components as following:

Component 1: Establishing and capitalizing the pooling fund,

Component 2: Improving Preparedness for More Effective Disaster Response Across Government Agencies, and

Component 3: Strengthen pooling fund capacity and systems to effectively support risk financing and disaster response". 

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Global Facility for Disaster Reduction and Recovery (non-World Bank Group funding) US$ 10.00 million


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

Francesco Strobbe: Senior Financial Sector Economist

Borrower/Client/Recipient

Republic of Indonesia

Implementing Agencies

Fiscal Policy Agency, Ministry of Finance

1/ Contact: Luky Alfirman

Title: DG of Budget Financing and Risk Management

Email: luky.alfirman@kemenkeu.go.id

2/ Contact: Dr. Febrio Nathan Kacaribu

Title: DG of Fiscal Policy Unit

Email: bkf@kemenkeu.go.id

FOR MORE INFORMATION CONTACT
The World Bank
1818 H Street, NW
Washington, D.C. 20433
Telephone: (202) 473-1000
Web: http://www.worldbank.org/projects

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: https://www.inspectionpanel.org.

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How it works