Bangladesh Second Recovery and Resilience DPC (WB-P178481)

Countries
  • Bangladesh
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
Approved
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
Jun 21, 2024
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 Bangladesh - Finance Division, Ministry of Finance
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.
Project Cost (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.
Bank Documents
Media Documents
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Aug 7, 2024

Disclosed by Bank Dec 14, 2023

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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 the Bank’s website, the program's development objectives are to (i) strengthen fiscal and financial sector policies to sustain growth and (ii) enhance resilience to future shocks, including climate change.

The program supports the transition from trade taxes to consumption and income taxes, which will help Bangladesh strengthen competitiveness and prepare for LDC graduation. It will help institutionalize the public procurement authority responsible for the electronic government procurement (e-GP system), which will cut down the average e-GP procurement lead time from 70 days to 55 days. It supports stronger banking sector oversight and improved management of National Savings Certificates. It will also help improve the efficiency and targeting of cash-based social protection programs and scale up public and private climate adaptation and mitigation investments.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The overall risk rating for this operation is substantial. Implementing planned policy reforms will require high level political support, particularly in the financial sector. All prior actions draw from extensive analysis and are accompanied by technical assistance programs to support reform implementation, which partially mitigates risks. The overall risk rating reflects the residual risk to the achievement of the PDO after accounting for mitigation measures. Implementing the DPC will require close coordination with government counterparts to ensure political support and consensus on the supported reforms.

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

A proposed scale-up window credit in the amount of JPY 47.1 billion (equivalent to US$300 million) and a proposed scale-up window shorter maturity loan credit in the amount of SDR 151.8 million (equivalent to US$200 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

Bernard James Haven
Senior Economist

Souleymane Coulibaly
Lead Country Economist, Program Leader

Borrower/Client/Recipient

People's Republic of Bangladesh

Implementing Agencies

Finance Division, Ministry of Finance
Dr. Ziaul Abedin
Joint Secretary
ziaula@finance.gov.bd
Dr. K M Alamgir Kabir
Deputy Secretary
amdhaka@yahoo.com

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