World Bank News Release: Loan and Credit Summary
World Bank Statement of September 20, 2012 on Padma Bridge, Bangladesh
WASHINGTON—On June 29, 2012, the World Bank announced the cancellation of a $1.2 billion IDA credit for the Padma Multipurpose Bridge Project. The Bank's investigative unit previously shared with the Government of Bangladesh credible evidence of corruption related to our financing of the bridge, and the Bank had identified a series of clear measures to be implemented by the Government for the Bank to remain engaged with the project, which the Government of Bangladesh had failed to meet. These included: (i) placing all public officials suspected of involvement in the corruption scheme on leave from Government employment until the investigation is completed; (ii) appointing a special inquiry and prosecution team within the Bangladeshi Anti-Corruption Commission to handle the investigation; (iii) agreeing to provide full access to all investigative information to an external panel of internationally recognized experts so that they can give guidance to the Bank and co-financiers on the progress, adequacy, and fairness of the investigation, and; iv) agreeing on new implementation arrangements that gives the Bank and co-financiers greater oversight of project procurement processes.
Following our cancellation of the credit, the Government of Bangladesh took actions necessary to fulfill the above measures. The Government of Bangladesh has now begun to address the evidence of corruption the Bank identified. The World Bank understands that all government employees and officials alleged to have been involved in corrupt acts in connection with the project have been put on leave from Government service until an investigation is completed, and that a full and fair investigation is now underway.
In its communication with the World Bank about the fulfillment of these measures, the Government of Bangladesh requested the World Bank to consider again the financing of the Padma Multipurpose Bridge. The Government agreed to a series of measures as a pre-requisite for any renewed implementation. These include new procurement arrangements with enhanced oversight, to ensure transparency and clean construction of the bridge; investigations proceeding in a full, fair, and expeditious manner; and an independent External Panel to review the Government's investigation and report their findings to the Government and the World Bank.
The Bank has agreed that, upon satisfactory implementation of the agreed measures by the Government, and with the support of the Bank's governing bodies, the Bank will engage anew in the Padma Multipurpose Bridge.
The World Bank remains vigilant to any signs of corruption in the Padma Bridge project, and our determination to take a strong line against wrongdoing will never waver. If implemented properly, the Padma Bridge has the potential to deliver remarkable benefits to the people of Bangladesh, who deserve transparent use of public money, clean implementation of the project and a high-quality bridge to spur growth and development for years to come.
Bangladesh - Leveraging ICT for Growth, Employment and Governance Project
IDA Credit: US$70 million equivalent
Terms: Maturity = 40 years; Grace = 10 years
Project ID: P122201
Project Description: The objectives of the project are to catalyze the growth of Bangladesh's IT and IT-Enabled Services industry for employment creation and export diversification and to establish basic e-government foundations to support public sector modernization.
For more information, please visit here:
http://www.worldbank.org/projects/P122201/leveraging-ict-governance-growth-employment-project?lang=en
Bangladesh - Rural Electrification and Renewable Energy Development II Project
IDA Credit: US$155 million equivalent
Terms: Maturity = 40 years; Grace = 10 years
Project ID: P131263
Project Description: The development objective of the project is to increase access to clean energy in rural areas through renewable energy and promote more efficient energy consumption.
For more information, please visit here:
http://www.worldbank.org/projects/P131263/rural-electrification-renewable-energy-development-ii-rered-ii-project?lang=en
Bangladesh - Second Rural Transport Improvement Project
IDA Credit: US$302 Million Equivalent
Terms: Maturity = 40 years; Grace = 10 years
Project ID: P123828
Project Description: The development objective of the project is to improve rural accessibility in project areas (covering 26 districts) and strengthen institutional capacity for sustainable rural road maintenance.
For more information, please visit here:
http://www.worldbank.org/projects/P123828/second-rural-transport-improvement-project?lang=en
Croatia - Export Finance Intermediation Loan Project [Additional Financing]
IBRD Loan: US$61.41 million equivalent
Terms: Maturity = 28.5 years; Grace = 7 years
Project ID: P129220
Project Description: The objective of the project is to support the preservation and growth of exports by providing medium and long term working capital and investment finance to exporters and foreign exchange earning enterprises.
For more information, please visit here:
http://www.worldbank.org/projects/P129220/export-finance-intermediation-loan-additional-financing?lang=en
Liberia - Road Asset Management Project [Additional Financing]
IDA Credit: US$50 million equivalent
Terms: Maturity = 40 years; Grace = 10 years
Project ID: P129654
Project Description: The objective of the project is to support the recipient's efforts to reduce transport costs along the road corridor from Monrovia to the Guinea border and to maintain the road in good condition over a 10-year period.
For more information, please visit here:
http://www.worldbank.org/projects/P129654/liberia-road-asset-management-project-additional-financing?lang=en
Russian Federation - Forest Fire Response Project
IBRD Loan: US$40 million
Terms: Maturity = 18 years; Grace = 5 years
Project ID: P123923
Project Description: The objective of the project is to improve forest fire prevention and management and to enhance sustainable forest management. Furthermore, the project will contribute to raising public awareness and education standards in forestry issues in general, with specific reference to forest fires prevention/control and forest governance issues.
For more information, please visit here:
http://www.worldbank.org/projects/P123923/russia-forest-fire-response-project?lang=en
Seychelles - First Sustainability and Competitiveness Development Policy Operation
IBRD Loan: US$7 million
Terms: Maturity = 25.5 years; Grace = 10 years
Project ID: P125202
Project Description: The objective of the project is to improve fiscal sustainability and enhance private sector competitiveness for the Republic of Seychelles.
For more information, please visit here:
http://www.worldbank.org/projects/P125202/first-sustainability-competitveness-development-policy-loan?lang=en
Ukraine - Second Road and Safety Improvement Project
IBRD Loan: US$450 million
Terms: Maturity = 17 years; Grace = 6 years
Project ID: P127156
Project Description: The objectives of the project are an improved condition and quality of sections of the M-03 road and increased safety on roads in Ukraine.
For more information, please visit here:
http://www.worldbank.org/projects/P127156/second-road-safety-improvement-project?lang=en
WASHINGTON, July 26, 2012 - The World Bank’s Board of Executive Directors approved the following projects:
Brazil - Third Minas Gerais Development Partnership
IBRD Loan: US$450 million
Terms: Maturity = 30 years Grace = 5
Project ID: P121590
Project Description: This loan for Brazil is designed to assist the Government of Minas Gerais in its efforts to promote fiscally, environmentally and socially inclusive sustainable development in the State of Minas Gerais.
For more information, please visit here:
http://www.worldbank.org/projects/P121590/minas-gerais-partnership-iii-dplpbg?lang=en
Brazil - State of Tocantins for the Tocantins Integrated Sustainable Regional Development Project
IBRD Loan: US$300 million
Terms: Maturity = 24.5 years Grace = 5
Project ID: P121495
Project Description: The objective of the project is to foster improved effectiveness of road transport and enhanced efficiency of selected public services, in support of Brazil’s integrated and territorially balanced development agenda.
For more information, please visit here:
http://www.worldbank.org/projects/P121495/tocantins-integrated-sustainable-regional-development?lang=en
Central African Republic - Proposed Third for a CEMAC Transport and Transit Facilitation Project [Additional Financing]
IDA Credit and Grant: US$125 million equivalent
Project ID: P130422
Project Description: The objective of the project is to facilitate regional trade among the member states and improve access to world markets for the Central African Republic, the Republic of Cameroon and the Republic of Chad.
For more information, please visit here:
http://www.worldbank.org/projects/P130422/cemac-transport-transit-facilitation--third-additional-financing?lang=en
Kiribati - Telecommunications and ICT Development Project
IDA Grant: US 1 million
Pacific Region Infrastructure Facility (PRIF) Grant: US$4.1 million
Project ID: P126324
Project Description: The development objective of the project is to strengthen the legal, regulatory, and institutional environment in Kiribati, enabling transition to a market-driven telecommunications sector, and facilitating improved connectivity for the Outer Islands.
For more information, please visit here:
http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/PACIFICISLANDSEXTN/0,,menuPK:441893~pagePK:141159~piPK:141110~theSitePK:441883,00.html
Lao PDR - Road Sector Project [Additional Financing]
IDA Grant: US$21 million equivalent
Project ID: P129347
Project Description: The development objective of the additional financing is to improve road services on two main national corridors and the provincial road network, to rehabilitate the roads damaged by Typhoon Ketsana, and to establish and create a contingency fund for quick disaster response in the road sector.
For more information, please visit here:
http://www.worldbank.org/projects/P129347/la-additional-financing-road-sector-project?lang=en
Senegal - Electricity Sector Support Project
IDA Credit: US$85 million equivalent
Terms: Maturity = 40 years Grace = 10
Project ID: P125565
Project Description: The project development objective is to contribute to reducing Senegal’s technical and commercial losses and improve the reliability of electricity services in selected areas - focusing primarily on Greater Dakar.
For more information, please visit here:
http://www.worldbank.org/projects/P125565/support-electricity-emergency-plan-project?lang=en
Tunisia - Managing Healthcare Waste and Polychlorinated Biphenyls Project
Global Environment Facility (GEF) Grant: US$5.5 million
Project ID: P100478
Project Description: The development objective of the project is to reduce releases of dioxins, furans and PCBs in Tunisia by strengthening the recipient's legal and institutional framework and establishing sound and sustainable management programs for improving management and final disposal of healthcare waste (HCW) and PCBs.
For more information, please visit here:
http://www.worldbank.org/projects/P100478/managing-healthcare-waste-pcbs?lang=en
Vietnam - Managing Natural Hazards Project
IDA Credit: US$150 million equivalent
Terms: Maturity = 25 years Grace = 5
Project ID: P118783
Project Description: The development objective of the project is to increase the resilience of the people and economic assets to natural hazards in selected river basins of the project provinces within the overall framework of Vietnam's national disaster prevention, response and mitigation strategy towards 2020.
For more information, please visit here:
http://www.worldbank.org/projects/P118783/vietnam-managing-natural-hazards-project?lang=en
WASHINGTON, July 5, 2012 - The World Bank’s Board of Executive Directors approved the following projects:
Azerbaijan - Second Rural Investment Project
IBRD Loan: US$30 million
Terms: Maturity = 17 years: Grace = 4 years
Project ID: P122944
Project Description: The development objective of the project is to improve access to and use of community-driven rural infrastructure and expand economic activities for rural households.
For more information, please visit here:
http://www.worldbank.org/projects/P122944/second-rural-investment-project?lang=en
Egypt - Enhanced Water Resources Management Project
Global Environment Facility Trust Fund Grant: US$6.7 million
Project ID: P118090
Project Description: The objective of the project is to pilot the International Water Resources Management (IWRM) in the Nile Delta. It will establish the basis for scaling up investments through the Government of Egypt's IWRM plan and contribute to pollution control and improved ecosystem health of the Mediterranean Sea.
For more information, please visit here:
http://www.worldbank.org/projects/P118090/eg-enhanced-water-resources-management?lang=en
Morocco - Integrated Coastal Zone Management Project
Proposed Global Environment Facility (GEF) Trust Fund Grant:US$5.18 million
Project ID: P121271
Project Description: The objective of the project is to will pilot the application of integrated coastal zone management (ICZM) approach at the local level in view of improving resources management, inclusion and job creation in the Eastern Mediterranean coastal areas of Morocco.
For more information, please visit here:
http://www.worldbank.org/projects/P121271/integrated-coastal-zone-management-mediterranean-coast?lang=en
Uruguay - Sustainable and Efficient Project
IBRD Loan: US$42 million
Terms: Maturity = 23 years: Grace = 5 years
Project ID: P118064
Project Description: The objective of the project is to strengthen the State Sanitation Works Office (Administración de Obras Sanitarias del Estado) by improving the reliability and resilience of its water supply and sanitation systems, as well as enhancing its efficiency and management capacity.
For more information, please visit here:
http://www.worldbank.org/projects/P118064/ose-response-climate-change?lang=en
WASHINGTON, June 26, 2012 - The World Bank’s Board of Executive Directors approved the following projects:
Afghanistan – Rural Access Project
IDA Grant: US$125 million equivalent
Project ID: P125961
Project Description: The project development objective is to enable rural communities to benefit from all-season road access to basic services and facilities.
For more information, please visit here:
http://www.worldbank.org/projects/P125961/afghanistan-rural-access-project?lang=en
Africa - Improved Investment Climate within the Organization for the Harmonization of Business Law in Africa Project (OHADA)
IDA Grant: US$15 million equivalent
Project ID: P126663
Project Description: The project development objective is to strengthen the Organization for the Harmonization of Business Law in Africa Project’s institutional capacity to support, in its member countries, selected aspects of investment climate reforms, including improved corporate financial reporting.
For more information, please visit here:
http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P126663
Burkina Faso – Proposed First Growth and Competitiveness Grant
IDA Grant:US$90 million equivalent
Terms: Maturity = 40 years: Grace = 10 years
Project ID: P126207
Project Description: The first growth and competitiveness grant will catalyze private sector growth and employment, improve governance and public resource management and reduce vulnerability in Burkina Faso.
For more information, please visit here:
http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/BURKINAFASOEXTN/0,,menuPK:343882~pagePK:141159~piPK:141110~theSitePK:343876,00.html
Cape Verde – Seventh Poverty Reduction Support Credit
IDA Credit: US$12 million equivalent
Terms: Maturity = 40 years: Grace = 10 years
Project ID: P122669
Project Description: The development objectives of the program are to improve the efficiency and transparency of public resources and preserve macroeconomic stability through the implementation of a reform agenda for public finance management, debt management, procurement, and the government's statistical system.
For more information, please visit here:
http://www.worldbank.org/projects/P122669/cv-dpl-3-prsc-vii?lang=en
Côte d’Ivoire – Emergency Infrastructure Renewal Project
IDA Grant: US$100 million equivalent
Terms: Maturity = 40 years: Grace = 10 years
Project ID: P124715
Project Description: The objective of the project is to improve access to basic infrastructure in targeted areas. The project will support the Government of Côte d'Ivoire's long-term capital districts program which addresses the impact of political economic turmoil on the Ivorian population in terms of access to, and quality of, basic infrastructure and services.
For more information, please visit here:
http://www.worldbank.org/projects/P124715/cote-divoire-emergency-infrastructure-renewal-project?lang=en
Georgia – Third East-West Highway Improvement Project [Additional Financing]
IDA Credit: $43 million equivalent
Terms: Maturity = 25 years: Grace = 5 years
Project ID: P128863
Project Description: The goal of the additional financing for the Third East-West Highway Improvement Project in Georgia is to continue road upgrades on E60 highway. This will help reduce road transport costs, improve access, ease of transit, and road safety along the central part of Georgia’s East-West corridor.
For more information, please visit here:
http://www.worldbank.org/en/country/georgia
Mozambique – Pilot Program for Climate Resilience of the Strategic Climate Fund for the Climate Change Technical Assistance Project
IDA Grant:$2 million (Pilot Program for Climate Resilience of the Strategic Climate Fund)
Project ID: P131195
Project Description: The program aims to strengthen the Government of Mozambique's institutional and technical capacity to mainstream climate change resilience into key economic sectors and to improve future development policy and planning.
For more information, please visit here:
http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/MOZAMBIQUEEXTN/0,,menuPK:382138~pagePK:141159~piPK:141110~theSitePK:382131,00.html
Nepal – Sunaula Hazar Din – Community Action for Nutrition
IBRD Credit:$22 million equivalent
Terms: Maturity = 40 years: Grace = 10 years
IDA Grant: $18 million equivalent
Project ID: P125359
Project Description: The development objective for the project is to enhance awareness of and encourage best practices known to improve nutritional outcomes of women of reproductive age and children under the age of 2. Changes in attitudes and practices will address the key risk factors for child malnutrition.
For more information, please visit here:
http://www.worldbank.org/projects/P125359/first-1000-days?lang=en
Niger – Competitiveness and Growth Support Project
IDA Credit: US$50 million equivalent
Terms: Maturity = 40 years: Grace = 10 years
Project ID: P127204
Project Description: The objective the project is to improve selected aspects of Niger's business environment, to support the development of the meat industry, and to increase local business participation in the extractive industries sector.
For more information, please visit here:
http://www.worldbank.org/projects/P127204/niger-competitiveness-growth-support?lang=en
Niger – Proposed First Shared Growth Credit
IDA Credit: US$50 million equivalent
Terms: Maturity = 40 years: Grace = 10 years
Project ID: P125272
Project Description: The objective of the development policy operation is to support reforms that would help improve the business environment for investment and trade, increase agricultural productivity, and strengthen public financial management.
For more information, please visit here:
http://www.worldbank.org/projects/P125272/niger-shared-growth-credit?lang=en
Uganda – Water Management and Development Project
IDA Credit: US$135 million equivalent
Terms: Maturity = 40 years: Grace = 10 years
Project ID: P123204
Project Description: The project development objectives are to improve water resources planning, management and development, and access to water and sanitation services in priority areas. The project’s broader objective is to improve integrated water resources planning, management, and development. In addition, it aims to protect water resources, conserve the environment, and improve productivity through better management of water for livestock, irrigation, and energy.
For more information, please visit here:
http://www.worldbank.org/projects/P123204/water-management-development-project?lang=en