Maldives Development Policy Financing with a Catastrophe Deferred Drawdown Option and Pandemic Emergency Financing Facility

Abstract*

The development objectives of Development Policy Financing with a Catastrophe Deferred Drawdown Option and Pandemic Emergency Financing Facility Project for Maldives is to enhance the Maldives financial capacity to effectively manage the human, physical and fiscal impact of climate change, natural disasters and disease outbreaks. This operation responds to the country’s need to enhance its financial capacity to address the economic impact of adverse... Show More

Development Objective

To enhance the Maldives financial capacity to effectively manage the human, physical and fiscal impact of climate change, natural disasters and disease outbreaks.

Key Details

Project Details

Project ID
P163939
Status
Closed
Team Leader
Ahsan Tehsin , Armando Guzman Escobar, Rocio Schmunis
Borrower 2
REPUBLIC OF MALDIVES

Country
Maldives
Disclosure Date
December 22, 2017
Approval Date
(as of board presentation)
July 1, 2019
Effective Date
November 7, 2019

Total Project Cost 1
US$ 10.00 million
Implementing Agency
Ministry of Finance
Region
South Asia
Fiscal Year 3
2020

Commitment Amount
US$ 10.00 million
Environmental Category
N/A
Environmental and Social Risk
N/A
Closing Date
September 30, 2022

Last Stage Reached
BANK APPROVED
Last Update Date
September 26, 2023

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change92%
- FY17 - Adaptation79%
- FY17 - Mitigation12%

FY17 - Human Development and Gender

FY17 - Disease Control18%
- FY17 - Pandemic Response1%
FY17 - Gender17%
FY17 - Health Systems and Policies17%
- FY17 - Health System Strengthening17%

FY17 - Urban and Rural Development

FY17 - Disaster Risk Management100%
- FY17 - Disaster Preparedness67%
- FY17 - Disaster Risk Reduction67%
FY17 - Rural Development17%
- FY17 - Rural Water and Sanitation17%
FY17 - Urban Development17%
- FY17 - Urban Water and Sanitation17%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	5.00
IDA Grant	5.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	10.00
IBRD + IDA Commitment	10.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	10.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Feb 15, 2024	IDA-64540	Int Charges	31.77
Aug 15, 2020	IDA-64540	Int Charges	14,991.81
Feb 15, 2024	IDA-64540	Int Charges	18,322.35
Feb 15, 2024	IDA-64540	Int Charges	18,322.35
Jul 1, 2019	IDA-64540	Loan Commitment	5,000,000.00
Jul 1, 2019	IDA-D4930	Loan Commitment	5,000,000.00
Aug 15, 2024	IDA-64540	Int Charges	18,032.64
Aug 15, 2024	IDA-64540	Int Charges	18,032.64
Aug 15, 2024	IDA-64540	Int Charges	249.34
Aug 15, 2024	IDA-64540	Int Charges	249.34
Feb 15, 2023	IDA-64540	Int Charges	159.08
Feb 15, 2023	IDA-64540	Int Charges	159.08
Feb 15, 2023	IDA-64540	Int Charges	18,305.90
Feb 15, 2023	IDA-64540	Int Charges	18,305.90
Aug 15, 2023	IDA-64540	Int Charges	90.83
Aug 15, 2023	IDA-64540	Int Charges	90.83
Aug 15, 2023	IDA-64540	Int Charges	18,486.36
Aug 15, 2023	IDA-64540	Int Charges	18,486.36
Aug 15, 2022	IDA-64540	Int Charges	56.25
Aug 15, 2022	IDA-64540	Int Charges	56.25
Aug 15, 2022	IDA-64540	Int Charges	18,320.41
Aug 15, 2022	IDA-64540	Int Charges	18,320.41
Feb 15, 2022	IDA-64540	Int Charges	261.63
Feb 15, 2022	IDA-64540	Int Charges	261.63
Feb 15, 2022	IDA-64540	Int Charges	19,115.34
Feb 15, 2022	IDA-64540	Int Charges	19,115.34
Aug 15, 2021	IDA-64540	Int Charges	38.53
Aug 15, 2021	IDA-64540	Int Charges	38.53
Aug 15, 2021	IDA-64540	Int Charges	19,707.36
Aug 15, 2021	IDA-64540	Int Charges	19,707.36
Aug 15, 2020	IDA-64540	Int Charges	14,991.81
Feb 15, 2021	IDA-64540	Int Charges	336.92
Feb 15, 2021	IDA-64540	Int Charges	336.92
Feb 15, 2021	IDA-64540	Int Charges	19,951.32
Feb 15, 2021	IDA-64540	Int Charges	19,951.32
Mar 24, 2020	IDA-64540	Loan Disb	5,012,094.00
Mar 24, 2020	IDA-D4930	Loan Disb	5,012,094.00
Feb 15, 2024	IDA-64540	Int Charges	31.77

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Program Management	Satisfactory	2022-10-05
Overall Implementation Progress (IP)	Satisfactory	2022-10-05
Progress towards achievement of PDO	Satisfactory	2022-10-05
Monitoring and Evaluation	Satisfactory	2022-10-05

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 10-02-2023
Outcomes	Moderately Satisfactory
Risk to Development Outcome
Bank Performance	Moderately Satisfactory
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 03-12-2024	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality		N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Health workers trained on the HEOP's gender-specific activities in crisis situations. Value 0.00 100.00 100.00
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment
The Nat. Disaster Managment Plan is drafted Value No Yes Yes
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment
Water service coverage Value 51.00 71.00 80.00
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment
Simulations exercises on the activation and use of the HEOC are carried out Value 0.00 4.00 3.00
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment
The Building Code has been enforced through the issuance of compliance documents Value 0.00 11.00 10.00
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment
Sewerage service coverage Value 67.00 81.00 90.00
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment
The Nat. Disaster Managment Authoirty (NDMA) reports on NEOP readiness Value 0.00 3.00 3.00
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment
EWS is supported with expanded meteorologial observation network with automated weather station (AWS) Value 36.00 22.00 50.00
Date September 30, 2019 September 30, 2022 September 30, 2022
Comment

Health workers trained on the HEOP's gender-specific activities in crisis situations.	Value	0.00	100.00	100.00
	Date	September 30, 2019	September 30, 2022	September 30, 2022
	Comment

Water service coverage	Value	51.00	71.00	80.00
	Date	September 30, 2019	September 30, 2022	September 30, 2022
	Comment

Sewerage service coverage	Value	67.00	81.00	90.00
	Date	September 30, 2019	September 30, 2022	September 30, 2022
	Comment

EWS is supported with expanded meteorologial observation network with automated weather station (AWS)	Value	36.00	22.00	50.00
	Date	September 30, 2019	September 30, 2022	September 30, 2022
	Comment