First Inclusive and Resilient Market Economy Development Policy Operation (WB-P180470)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Uzbekistan
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
U
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
Dec 7, 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 Uzbekistan
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • 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)
$ 800.00 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 Dec 14, 2023

Disclosed by Bank Nov 7, 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 objective of this project is to support Uzbekistan’s transition to an inclusive and private sector-led market economy through (a) strengthening market institutions and the environment for private sector growth; (b) improving governance; and (c) increasing social inclusion and resilience. The DPO will be a 2-year programmatic operation and will build on the reforms supported in previous standalone development policy loans. The operation will help address critical constraints in important reform areas.

 

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

According to the World Bank, the Asian Infrastructure Investment Bank (AIIB) and KfW Development Bank (KfW) are also expected to provide parallel financing in support of this operation.
The investment comprises an IBRD Loan of US$300 million and three IDA Credits: a concessional IDA Credit of US$160 million; a concessional IDA Shorter-Maturity Loan Credit of US$240 million (US$100 million of which is made available through the IDA Scale-Up Window [SUW]); and a non-concessional IDA Credit of US$100 million through the IDA SUW.

The World Bank's website provides an overview of IDA's financial products.


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 Leaders:

Pinar Yasar - Senior Economist
Email: pyasar@worldbank.org

Wei-Jen Leow - Senior Financial Specialist 

Eskender Trushin - Senior Economist

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

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How it works