Road Climate Resilience Project Second Additional Financing (WB-P252338)

Countries
  • Timor-Leste
Where the impacts of the investment may be experienced.
Specific Location
Dilli, Baucau
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
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 27, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MINISTRY OF FINANCE
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Infrastructure
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, etc.
Investment Amount (USD)
$ 35.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 39.14 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jun 15, 2017

Disclosed by Bank Feb 9, 2017


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Project Description
The development objective of Road Climate Resilience Project for Timor Leste is to deliver sustainable climate resilient road infrastructure on the Dili-Ainaro corridor. This second level of restructuring requires additional financing (AF) of 35.20 million US dollars to cover a financing gap and cost overruns under the ongoing project. In addition, the restructuring requires the extension of the project closing date from December 31, 2018 until December 31, 2021 to complete the project activities The proposed second Additional Financing (AF) would cover a financing gap and cost overruns under the ongoing project. It would also include a level-two restructuring to cancel one project component, modify the description of two project activities, enhance the Results Framework, and update the costs and disbursement estimates to adjust the project to the reality on the ground. In addition, the restructuring would extend the project closing date of the original project and the first AF from December 31, 2018 until December 31, 2021. Since the overall project implementation period would exceed 10 years, Bank management agreed at the concept stage to have a single implementation completion and results report prepared upon completion of the project.
Investment Description
  • World Bank (WB)
Contact Information
Ministry of Finance Phone: 670-331-2886 Email: sitatilman@mof.gov.tl ACCOUNTABILITY MECHANISM OF 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. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.