Sustainable and Integrated Labor Services (SAILS) (WB-P177240)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Maldives
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
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
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
Apr 19, 2022
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
Republic of Maldives
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Amount (USD)
$ 24.00 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)
$ 24.00 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.
Primary Source

Original disclosure @ WB website

Updated in EWS May 9, 2022

Disclosed by Bank Oct 19, 2021


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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 World Bank documents, the objective of the project is to enhance the resilience and employability of Maldivians by establishing a sustainably financed unemployment insurance scheme and integrated labor market services.

The project’s primary objective is to establish a comprehensive social insurance and active labor market program for Maldives, and thereby improve income security and employment outcomes. With coverage of the majority of workers, the program will provide a broad-based safety net that can be scaled up in response to shocks.

A secondary objective of the project is to enhance the flow of information both within government, and between stakeholders in the labor market including employers, employees, employment service providers (including training providers) and discouraged workers. This will reduce information asymmetries in the markets for labor and vocational training, and promote social inclusion and access to social services especially in underserved areas (i.e. the outlying atolls). The project will thereby increase the resilience of Maldivians to shocks and longer-term economic transitions including decarbonization.

The project will finance the establishment of two interlinked schemes: an unemployment insurance (UI) scheme that will provide unemployment benefits and insurance against shocks, and an employment services (ES) scheme that will provide counseling, job search assistance, targeted training and coaching to assist jobseekers to find suitable jobs.

The project will provide the initial financing to set up the UI and ES schemes’ administrative structures, systems and processes, and create public awareness. It will help to register workers, define the processes for collection of contributions, and optimize financial management of funds under its control. It will then support the commencement of the schemes’ services, including application, enrollment, payment of benefits, reskilling and job search assistance. Finally, it will build the capacity of the program to become financially and technically self-sufficient by the end of the project period.

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

Investment Project Financing


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

Thomas Walker, Senior Economist

Telephone: 5723+315 / 94-11-5561315

Email ID: twalker@worldbank.org

Borrower/Client/Recipient

Republic of Maldives:

 Ibrahim Ameer Minister of Finance dmd@finance.gov.mv

 

Implementing Agencies

Ministry of Economic Development:

Neeza Imad
Minister of State neeza.imad@trade.gov.mv

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Maldives Pension Administration Office

Sujatha Haleem
Chief Operating Officer sujatha.haleem@pension.gov.mv

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE 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. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works