Benin Boosting Inclusive Growth and Resilience DPF1 series with Cat DDO (WB-P180286)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Benin
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
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
Sep 15, 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
Government of Benin
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
  • Industry and Trade
  • 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)
$ 230.00 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.
Loan Amount (USD)
$ 230.00 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)
$ 230.00 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
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Oct 24, 2023

Disclosed by Bank May 12, 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.

As stated by the World Bank, the development objective of the First Boosting Inclusive Growth and Resilience Development Policy Financing with a Catastrophe-Deferred Drawdown Option for Benin is to support the government’s efforts to: (i) enhance private sector-led growth, (ii) boost domestic revenue collection, and (iii) strengthen social and climate resilience. The first reform pillar supports private sector-led growth by fostering private participation with a new public-private partnership framework, creating an ecosystem for micro-, small, and medium-sized enterprise development and growth, and improving the investment climate. The second pillar aims to build fiscal resilience and space to absorb shocks by strengthening domestic revenue collection. The third pillar of the program is intended to promote inclusive growth and reduce poverty by supporting access to health services for the most vulnerable population and deploying an adaptative social registry. 

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.

As stated by the World Bank, the project's overall risk rating is "Moderate".

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

As stated by the World Bank, the project "combines (i) an International Development Association (IDA) credit of EUR 136 million (US$150 million equivalent) in Shorter Maturity Loan (SML) terms, combining US$97.4 million equivalent in financing from a Scale-Up Window (SUW)-SML,1 with US$52.6 million equivalent in financing from the SML portion of Benin’s IDA country allocation; and (ii) an IDA credit of EUR 72.5 million (US$80 million equivalent) Cat DDO available to be fully or partially disbursed in the event of a natural disaster or a public health emergency."


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 Team Leader:

Wilfried Anicet Kouakou Kouame - Economist

No contacts provided at the time of disclosure.

Implementing Agency - Ministry of Economy and Finance:

Hermann Orou Takou - Chief of Staff
Email: htakou@finances.bj

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