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Sustainable Fisheries Resources Development Project (Fourth South West Indian Ocean Fisheries Governance and Shared Growth Project)

Abstract*

The development objective of Sustainable Fisheries Resources Development Project for Maldives aims to improve management of fisheries at regional and national levels including support to establish mariculture in targeted atolls in the Maldives. This project has three components. 1) The first component, Augmentation of Institutional Capacity for Marine Fisheries Management, seeks to enhance the government’s capacity to implement a more effective monitoring...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

To improve management of fisheries at regional and national levels including support to establish mariculture in targeted atolls inthe Maldives.

Key Details

Project Details

  • P157801

  • Closed

  • Tapas Paul

  • Ministry of Finance

  • Maldives

  • February 15, 2017

  • (as of board presentation)

    April 11, 2017

  • July 6, 2017

  • US$ 18.00 million

  • Ministry of Fisheries and Agriculture

  • South Asia

  • 2017

  • US$ 18.00 million

  • B

  • Not Applicable

  • December 31, 2022

  • Yes

  • BANK APPROVED

  • July 8, 2024

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA recommitted as a Grant 16.50
IDA Grant 1.50

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 18.00
IBRD + IDA Commitment 18.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 18.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

Download:
No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of April 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Sep 20, 2019 IDA-D1750 Loan Disb 3,500,000.00
Feb 16, 2021 IDA-D1750 Loan Disb 2,000,000.00
Jul 15, 2020 IDA-D1750 Loan Disb 1,000,000.00
Aug 26, 2022 IDA-D1750 Loan Disb 2,000,000.00
Feb 17, 2023 IDA-D1750 Loan Disb 1,500,000.00
May 9, 2023 IDA-D1750 Loan Disb -233,692.69
May 9, 2023 IDA-D1750 Loan Disb -0.36
May 3, 2023 IDA-D1750 Loan Disb 314,911.62
May 9, 2023 IDA-D1750 Loan Cancel 859,492.06
Apr 11, 2017 IDA-D1750 Loan Commitment 18,000,000.00
Aug 2, 2017 IDA-D1750 Loan Disb 3,972,488.00
Mar 9, 2020 IDA-D1750 Loan Disb 1,500,000.00
Jul 15, 2021 IDA-D1750 Loan Disb 2,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Progress towards achievement of PDO Satisfactory 2022-09-08
Monitoring and Evaluation Satisfactory 2022-09-08
Overall Implementation Progress (IP) Satisfactory 2022-09-08
Procurement Moderately Satisfactory 2022-09-08
Project Management Satisfactory 2022-09-08
Financial Management Satisfactory 2022-09-08

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 06-29-2023
OutcomesModerately Satisfactory
Risk to Development Outcome
Bank PerformanceModerately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 11-21-2023PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Satisfactory N/a
Risk To Development OutcomeN/a
Bank PerformanceModerately SatisfactoryN/a
Borrower PerformanceN/a
Government PerformanceN/a
Implementing AgencyN/a
Icr QualitySubstantialN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • SWIO countries comply with IOTC resolutions for management of Tuna FisheryValue72.0077.000.00
    DateDecember 15, 2016December 31, 2022
    Comment
  • Compliance by Maldives to the IOTC regulationsValue78.0087.000.00
    DateDecember 15, 2016December 31, 2022
    Comment
  • Vessels complying with IOTC requirements on monitoring and reportingValue0.00100.000.00
    DateNovember 30, 2016December 31, 2022
    Comment
  • Mariculture established and operationalValueNoYesYes
    DateNovember 30, 2016December 31, 2022May 16, 2022
    Comment
  • Direct project beneficiariesValue0.003865.003600.00
    DateNovember 30, 2016December 31, 2022May 16, 2022
    Comment
  • Female beneficiariesValue0.000.000.00
    DateNovember 30, 2016November 10, 2017
    Comment
  • Share of target beneficiaries with rating "Satisfied" or above on project interventionsValue0.00100.000.00
    DateNovember 30, 2016December 31, 2022
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Provision of support to the Island Countries to improve therir negotiation capacity within IOTCValueNoYes
    DateNovember 30, 2016December 31, 2022
    Comment
  • Financial management, accounting and procurement systems set up in the PMUValueNoYes
    DateApril 1, 2017December 31, 2022
    Comment
  • IOTC Compliance Support Mission completed in Maldives (cumulative)Value0.005.000.00
    DateFebruary 1, 2017December 31, 2022
    Comment
  • Financial reports and audit reports submitted without delayValueNoYes
    DateApril 1, 2017December 31, 2022
    Comment
  • Mariculture Research and Development Facility is completed and operationalValueNoYesYes
    DateMarch 1, 2017December 31, 2022May 16, 2022
    Comment
  • Key policy or legal instruments updated in MaldivesValue0.0016.0016.00
    DateFebruary 1, 2017July 31, 2022May 16, 2022
    Comment
  • Viability demonstrated for out-grower farms of groupers (or other species equivalent in value)Value0.0019.0020.00
    DateNovember 30, 2016December 31, 2022May 16, 2022
    Comment
  • Vessels inspected under MCSValue0.00680.00670.00
    DateNovember 30, 2016December 31, 2022May 16, 2022
    Comment
  • Operational capacity for production and supply of fingerlings in placeValueNoYesYes
    DateNovember 30, 2016December 31, 2022May 16, 2022
    Comment
  • On-Board Vessel Electronic Observation System established and operationalValueNoYesYes
    DateFebruary 1, 2017December 31, 2022May 16, 2022
    Comment
  • Out-grower mariculture farms receiving extension services.Value0.00100.000.00
    DateNovember 30, 2016December 31, 2022
    Comment