Maritime Investment in Climate Resilient Operations Additional Financing (WB-P174089)

Countries
  • Tuvalu
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 Tuvalu
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Transport
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.
Primary Source

Original disclosure @ WB website

Updated in EWS May 21, 2020

Disclosed by Bank May 6, 2020


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Project Description

According to the bank's documents, the project aims "To improve the climate resilience of Nanumanga harbor and Funafuti port, 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.

Investment Description
  • World Bank (WB)
Contact Information

World Bank
Nana Sri Retnaningdiyah Hastut Soetantri
Transport Specialist

Borrower/Client/Recipient
Ministry of Finance and Economic Development (MFED)
Faiva K. Lee Moresi, CEO
moresi.k.l@gmx.com

Implementing Agencies
Ministry Of PublicWorks, Infrastructure, Environment, Labour, Meteorology, and Disaster
Palipa Lauti, Deputy Secretary
laugaph6@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.