Transforming Fisheries Sector Management in South-West Indian Ocean Region and Maldives Project (TransFORM, SWIOFish5) (WB-P179242)

Countries
  • Maldives
Geographic location where the impacts of the investment may be experienced.
Specific Location
South-West Indian Ocean Region
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
B
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
May 16, 2023
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
Indian Ocean Commission (IOC); Government of Maldives
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 26.40 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.
Grant Amount (USD)
$ 38.40 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)
$ 141.10 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 May 30, 2023

Disclosed by Bank Aug 2, 2022

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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’s website, the objective of this project is to strengthen regional, evidence-based fisheries management in the South-West Indian Ocean Region and to improve competitiveness in the fisheries sector in the Maldives.

Component 1: Enhance Evidence-based Management Advice to the Fisheries Sector to the South-West Indian Ocean Region
Component 2: Supporting Maldives as the Catalyst for Strengthened Regional Capacity for Fisheries Governance and Management
Component 3: Enhanced Competitiveness and Private Sector Participation for improving Business Climate for Fisheries in Maldives and the Southwest Indian Ocean Region

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

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

Tapas Paul
Lead Environmental Specialist
Sachiko Kondo
Senior Natural Resources Management Specialist

Borrower/Client/Recipient

Indian Ocean Commission (IOC)
Raj Mohabeer
Officer in Charge
raj.mohabeer@coi-ioc.org

Implementing Agencies

Indian Ocean Commission (IOC) Secretariat
Marc Maminiaina
Officer in Charge
marc.maminiaina@coi-ioc.org

Maldives Ministry of Fisheries, Marine Resources and Agriculture (MoFMRA)
Mariyam Simla
Director, Policy and Planning Section
mariyam.simla@fishagri.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