FSM Maritime Investment Project Additional Financing (WB-P174075)

Countries
  • Micronesia
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
Jun 15, 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
Government of Micronesia
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 Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.50 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)
$ 2.50 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 21, 2020

Disclosed by Bank Apr 30, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the bank's documents, the project aims "To improve thesafety, efficiency and climate resilience of maritime infrastructure and operations in the Recipient's territory, and in the event of an Eligible Crisis or Emergency, to provide an immediate response to the Eligible Crisis or Emergency"

"The Additional Financing (AF) is being prepared under the global framework of the World Bank COVID-19 Response financed under the Fast Track COVID-19 Facility (FTCF). In response to the WHO declaration of the global pandemic, the FSM has triggered the CERC of the FSMIP to address urgent COVID-19 emergency response and preparedness needs. Uncommitted funds have been reallocated to the CERC from other components of FSMIP. FSM has applied the CERC funding to supply medical equipment, pharmaceuticals and personal protective equipment (PPE). The availability of funds in the CERC has enabled the rapid release of funds for this purpose."

Investment Description
  • World Bank (WB)
Contact Information

World Bank
Sean David Michaels, Senior Infrastructure Specialist
Keelye Rinchen Hanmer, Transport Analyst

Borrower/Client/Recipient
Federated States of Micronesia

Implementing Agencies
Department of Transportation, Communication & Infrastructure
Francis Itimai, Secretary
itimaif@mail.fm

Department of Justice
Abigail Avoryie, Attorney, Human Trafficking
Unitaja.fsm@gmail.com
Department of Environment, Climate Change and Emergency Management
Elina Akinaga
Assistant Secretary for Emergency Management
epaul.oeem@gmail.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: https://www.inspectionpanel.org.