1. What We Do

Second Fiscal Reform and Resilience Development Policy Credit with a Cat DDO

Abstract*

The development objective of Second Fiscal Reform and Resilience Development Policy Credit with a with a Catastrophe Deferred Drawdown Option is to support the Government of St. Vincent and the Grenadines (GoSVG) in: (i) responding to the Coronavirus (COVID-19) pandemic to protect the vulnerable; (ii) strengthening fiscal resilience; and (iii) enhancing climate and disaster resilience. The DPC aims to support the efforts of the government of St. Vincent...

* 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

The development objective is to support the GoSVG in: (i) responding to the COVID-19 pandemic to protect the vulnerable; (ii) strengthening fiscal resilience; and (iii) enhancing climate and disaster resilience.

Key Details

Project Details

  • P169956

  • Closed

  • David Cal MacWilliam , Keren Charles

  • Ministry of Finance

  • US$ 40.00 million

  • N/A

  • N/A

  • June 30, 2023

  • BANK APPROVED

  • P165220

  • June 18, 2024

  • Notes

Sectors

Created with Highstock 5.0.14FY17 - FisheriesFY17 - Central Government(Central Agencies)FY17 - Central Government (Central Agencies)FY17 - Other PublicAdministrationFY17 - Other Public AdministrationFY17 - Other EducationFY17 - MiningFY17 - Social ProtectionFY17 - Other Water Supply,Sanitation and WasteManagementFY17 - Other Water Supply, Sanitation and Waste ManagementFY17 - Tourism

Themes

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Credit 40.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 40.00
IBRD + IDA Commitment 40.00
Lending Instrument
Grant Amount N/A
Total Project Cost** N/A

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

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

Detailed Financial Activity as of March 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Nov 15, 2022 IDA-67040 Int Charges 130,000.02
Nov 15, 2022 IDA-69370 Int Charges 425,000.00
Nov 15, 2022 IDA-69370 Int Charges 425,000.00
Nov 15, 2022 IDA-67030 Int Charges 130,000.02
Nov 15, 2022 IDA-67030 Int Charges 130,000.02
Apr 12, 2021 IDA-67030 Loan Disb 20,000,000.00
Nov 15, 2021 IDA-67040 Int Charges 130,000.02
Nov 15, 2021 IDA-67040 Int Charges 130,000.02
Nov 15, 2021 IDA-67030 Int Charges 23,833.33
Nov 15, 2021 IDA-67030 Int Charges 23,833.33
Nov 15, 2021 IDA-67030 Int Charges 130,000.02
Nov 15, 2021 IDA-67030 Int Charges 130,000.02
Nov 15, 2021 IDA-69370 Int Charges 250,277.78
Nov 15, 2021 IDA-69370 Int Charges 250,277.78
May 15, 2022 IDA-67030 Int Charges 130,000.02
May 15, 2022 IDA-67030 Int Charges 130,000.02
May 15, 2022 IDA-67040 Int Charges 130,000.02
May 15, 2022 IDA-67040 Int Charges 130,000.02
Jul 28, 2020 IDA-67040 Loan Disb 20,000,000.00
Nov 15, 2020 IDA-67040 Int Charges 77,277.79
Nov 15, 2020 IDA-67040 Int Charges 77,277.79
May 25, 2021 IDA-67040 Int Charges 130,000.02
May 25, 2021 IDA-67040 Int Charges 130,000.02
Jul 29, 2021 IDA-69370 Loan Disb 50,000,000.00
May 15, 2024 IDA-67040 Int Charges 130,000.02
May 15, 2024 IDA-67040 Int Charges 130,000.02
May 15, 2024 IDA-69370 Int Charges 425,000.00
May 15, 2024 IDA-69370 Int Charges 425,000.00
May 15, 2024 IDA-67030 Int Charges 130,000.02
May 15, 2024 IDA-67030 Int Charges 130,000.02
Jun 25, 2021 IDA-69370 Loan Commitment 50,000,000.00
Jun 25, 2020 IDA-67040 Loan Commitment 20,000,000.00
Jun 25, 2020 IDA-67030 Loan Commitment 20,000,000.00
Nov 15, 2023 IDA-69370 Int Charges 425,000.00
Nov 15, 2023 IDA-69370 Int Charges 425,000.00
Nov 15, 2023 IDA-67030 Int Charges 130,000.02
Nov 15, 2023 IDA-67030 Int Charges 130,000.02
Nov 15, 2023 IDA-67040 Int Charges 130,000.02
Nov 15, 2023 IDA-67040 Int Charges 130,000.02
May 15, 2023 IDA-67040 Int Charges 130,000.02
May 15, 2023 IDA-67040 Int Charges 130,000.02
May 15, 2023 IDA-69370 Int Charges 425,000.00
May 15, 2023 IDA-69370 Int Charges 425,000.00
May 15, 2023 IDA-67030 Int Charges 130,000.02
May 15, 2023 IDA-67030 Int Charges 130,000.02
May 15, 2022 IDA-69370 Int Charges 425,000.00
May 15, 2022 IDA-69370 Int Charges 425,000.00
Nov 15, 2022 IDA-67040 Int Charges 130,000.02
Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Program Management Satisfactory 2021-06-07
Progress towards achievement of PDO Satisfactory 2021-06-07
Monitoring and Evaluation Satisfactory 2021-06-07
Overall Implementation Progress (IP) Satisfactory 2021-06-07

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 01-17-2025PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingSatisfactory N/a
Risk To Development OutcomeN/a
Bank PerformanceHighly SatisfactoryN/a
Borrower PerformanceN/a
Government PerformanceN/a
Implementing AgencyN/a
Icr QualitySubstantialN/a
M&e QualityN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • RI1: Beneficiaries who received program supportValue0.002190.001400.00
    DateJanuary 1, 2020June 30, 2021June 30, 2021
    Comment
  • RI4: Public debt convergence to the ECCU target of 60 percent of GDP by 2030.Value73.5084.9084.40
    DateDecember 31, 2017December 31, 2020December 31, 2020
    Comment
  • RI8: Volume of domestically mined coastal sand reducedValue35370.0029734.700.00
    DateDecember 31, 2018December 31, 2021December 31, 2021
    Comment
  • RI5: Analysis of government-wide procurement spending published by MOFValueNoYesYes
    DateDecember 31, 2017May 5, 2021December 31, 2020
    Comment
  • RI9: Imported single-use plastic bags reducedValue453.400.000.00
    DateDecember 31, 2017December 31, 2021December 31, 2021
    Comment
  • RI1: Female beneficiaries of program supportValue0.0057.400.00
    Date
    Comment
  • RI2: Beneficiaries who received program supportValue0.005964.00400.00
    DateJanuary 1, 2020December 31, 2021December 31, 2021
    Comment
  • RI6: Revenue from taxes on income and profitsValue151000.00143000.00150000.00
    DateDecember 31, 2017December 31, 2020December 31, 2020
    Comment
  • RI12: Level of funds in the contingencies fundValue0.0039300.0050000.00
    DateDecember 31, 2017December 31, 2022December 31, 2022
    Comment
  • RI3: Beneficiaries who received pre-payments, TUB benefits, and IAB support.Value0.003576.003500.00
    DateJanuary 1, 2020June 30, 2021June 30, 2021
    Comment
  • RI13: Share of permit applications for new buildings approved in compliance with the updated building codes guidelinesValue0.00100.00100.00
    DateDecember 31, 2018December 31, 2022December 31, 2022
    Comment
  • RI14: Number of schools used as emergency shelters that have completed comprehensive disaster management plans and submitted to theMinistry of EducationValue11.1010.4144.40
    DateDecember 31, 2019December 31, 2022December 31, 2022
    Comment
  • RI7: Analysis of the performance of commercial SOEs publishedValueNoNoYes
    DateDecember 31, 2017December 31, 2020December 31, 2020
    Comment
  • RI10: Increase in number of St. Vincent and the Grenadines Conservation Fund’s sustainable revenue sourcesValue0.002.002.00
    DateDecember 31, 2018December 31, 2021December 31, 2021
    Comment
  • RI11: Number of aquaculture business plans preparedValue0.000.002.00
    DateDecember 31, 2018December 31, 2021December 31, 2021
    Comment