India Early Warning Update
Asian Development Bank Business Opportunities: Volume No. 2, January 2008
Tuesday, January 29, 2008
This Bulletin is a periodic electronic update from the Bank Information Center (BIC) South Asia office to inform civil society about Asian Development Bank (ADB) projects in India before they are approved by the Board of Directors of the ADB. This Update covers project information, organized by sectors. The information is compiled directly from ADB’s Business Opportunities.
For feedback on the Early Warning Update or to subscribe, please contact:
Bank Information Center, South Asia Office (New Delhi)
Phone: +91-11-2602-0143; Email: southasia@bicusa.org; Web: www.bicusa.org
For more information on specific projects, please contact the following at the ADB:
The Project Officer (contact details listed against each project). When emailing, also copy to: disclosure@adb.org. You may also contact the ADB Public Information and Disclosure Unit (See: http://www.adb.org/Disclosure/contact.asp).
About Business Opportunities (BOp)
Business Opportunities (BOp) identifies potential projects that are under consideration for ADB financing. The BOp listings do not guarantee that financing will be approved for particular projects. However, BOp listings serve as important tools for monitoring and follow up of proposed projects. These, along with your country’s Country Partnership Strategy (CPS), work as early warnings on the projects that your government and the Bank are considering for funding. Advocacy and campaigning experience around the world on Bank projects indicates that the earlier civil society gets involved on proposed projects, the greater the likelihood for impacting them. Proposed projects are listed until the point of ADB Board approval; the remaining are dropped from the list. BOp listings are prepared after CPS approval and during the early phases of Project Preparation. For better understanding of this process, the Bank’s Project Cycle is summarized below.
Project Cycle (ADB website for complete project cycle)
ADB’s Project Cycle Project Identification/Preparation: ADB often provides grants called project/program preparatory technical assistance (PPTA) to help the government identify and prepare feasible projects. The summary is made available in the form of a project profile or project information document (PID).
During the early stage of the PPTA, an initial poverty and social assessment is conducted to identify people who may be beneficially or adversely affected. A technical assistance report is prepared as a recommendation for ADB to finance a technical assistance project.
If the project requires resettlement of people or might adversely impact the environment, or indigenous peoples, certain safeguard assessments are prepared during this stage. The results of these assessments are to be made available to affected people. For more information on community rights under ADB safeguards and international best practices, see comparative matrices of MDB safeguard policies on BIC's website.
Project Examination: ADB examines project feasibility, first through a fact-finding mission and then through an appraisal mission. The fact-finding mission examines the project's technical, financial, economic, environmental, marketing, and management aspects and potential social impact. Detailed project risks and sensitivity analyses are carried out to assess viability of the proposed project and loan terms are discussed.
Following this, the Appraisal Mission conducts further field study, analyses and consultation, as required. The mission then prepares a loan proposal report and draws up a draft loan agreement for negotiation. After appraisal, the draft loan agreement and draft project proposal is submitted for review. Government is then called for negotiation with ADB. After negotiations with the government, the loan proposal is submitted to Board of Directors for Approval, through its Report and Recommendation of the President (RRP).
After Board approval, the document is sent to the borrowing country's Government for cabinet authorization following which the loan agreement is signed. The loan takes effect once certain conditions are met. The requirements and deadline for loan effectiveness are stipulated in the loan agreement.
ADB-assisted projects are implemented by the executing agency according to the agreed schedule and procedures as detailed out in the project administration memorandum. Implementation time generally ranges from two to five years but depends on the type and nature of the project. ADB's review missions assess the progress of project implementation by visiting it at least twice a year throughout the implementation period.
If a project has significant environmental or social issues, ADB will often require the borrower to submit regular monitoring reports, in addition to progress reports. Information on the project's implementation progress and status of development objectives and loan covenants is added to the project information document during this implementation phase.
For more information, refer to: Unpacking the ADB: A Guide to Understanding the Asian Development Bank
Commonly Used BOp Acronyms
TA: Technical Assistance
AOTA: Advisory and Operational Technical Assistance Loans
PPTA: Project Preparatory Technical Assistance
RETA: Regional Technical Assistance
EIA: Environmental Impact Assessment
IEE: Initial Environmental Examination
N: New Project
R: Revised (italic text indicates change from previous month)
ADB Environmental Categorization
Category “A” Projects: Projects having severe environmental impacts are categorized as “A”. An EIA is required.
Category “B” Projects: Projects having some adverse environmental impacts are categorized as “B”. An IEE is required in order to determine whether an EIA also needs to be done. If not, then the IEE is the final environment document.
Category “C” Projects: Projects havening no environmental impacts are categorized as “C”. No IEE or EIA is required but environmental considerations are still reviewed.
Category “F1” Projects: Projects involving a financial intermediary or equity investment are classified as “F1”. The financial intermediary will apply an environmental management system if environmental impacts are expected.
Current Business Opportunities for India
Energy /Renewable Energy
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|
Project Name |
(N) Energy Smart-Facilitating the Operations of Energy Conservation Fund in Madhya Pradesh |
|
Project Type and ID |
AOTA: IND 41681-01 |
|
Executing Agency |
Government of Madhya Pradesh, Energy Department |
|
TA Amount (US$ '000) |
1,700.00 |
|
Date of First Listing |
7 December 2007 |
|
Objectives and Scope |
The initiative will promote the culture of energy efficiency in Madhya Pradesh and suppliers and consumers of energy will work in tandem to conserve energy. Scope will be determined. |
|
Environmental Assessment |
|
|
Project Processing Stage |
Fact-Finding Mission Completed : 29 November 2007 |
|
Project Officer |
Neside T. Anvaripour (632-6468); Energy Division, SARD; ntasanvaripour@adb.org |
Energy/Energy Sector Development
|
|
Project Name |
Bihar Electricity Regulatory Commission |
|
Project Type and ID |
AOTA: IND 41612-01 |
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Executing Agency |
Bihar Electricity Regulatory Commission |
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TA Amount (US$ '000) |
800.00 |
|
Date of First Listing |
7 November 2007 |
|
Objectives and Scope |
The proposed TA will support Bihar Electricity Regulatory Commission (BERC) to prepare it for its future role in the restructured power sector in Bihar. Priorities will be established in consultation with the Members of the commission during the fact-finding mission for the proposed TA. |
|
Environmental Assessment |
|
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Project Processing Stage |
Fact-Finding in Field : 5 November 2007 |
|
Project Officer |
Neside T. Anvaripour (632-6468), Energy Division, SARD; ntasanvaripour@adb.org |
Energy/Energy Sector Development
|
|
Project Name |
(R) Energy Efficiency Enhancement in the Power Generation Sector |
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Project Type and ID |
AOTA: IND 41139-01 |
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Executing Agency |
Power Finance Corporation, Limited |
|
TA Amount (US$ '000) |
1,000.00 |
|
Date of First Listing |
15 August 2007 |
|
Objectives and Scope |
The TA will assist state utilities in preparing Clean Development Mechanism (CDM) eligible energy efficiency projects in the thermal and hydropower generation sector, which enhance efficiency rates and reduce greenhouse gas (GHG) emission of the existing power plants and the replacement of old units with more efficient new units. The goal of the TA is to enhance energy efficiency of India Power Sector with CDM and other Verified Emission Reductions (VERs) schemes. The TA will be provided to power sector entities to renovate and modernize (R&M) existing power plants through the Power Finance Corporation (PFC), mandated by GOI to coordinate the R&M project. This TA aims to assist relevant power sector entities in preparing CDM / VER eligible energy efficiency projects in the power generation sector, which enhance efficiency rates and reduce greenhouse gas (GHG) emission of the existing power systems. |
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Environmental Assessment |
|
|
Project Processing Stage |
Approved by the Bank : 16 November 2007 |
|
Project Officer |
Naoki Sakai (632-4461), Energy Division, SARD; nsakai@adb.org |
Energy /Hydropower Generation
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|
Project Name |
(R) Jammu and Kashmir Clean Power Development Investment Program |
|
Project Type and ID |
PPTA: IND 41593-01 |
|
Executing Agency |
Jammu & Kashmir State Power Development Corporation |
|
TA Amount (US$ '000) |
800.00 |
|
Date of First Listing |
11 October 2007 |
|
Objectives and Scope |
The TA will (i) examine the technical feasibility of proposed project components, including selected hydropower development options; (ii) assess the overall feasibility of proposed sector development policy components; (iii) assess the economic, financial, environmental and social viability of the project components and the entire project; (iv) evaluate the commercial feasibility and private sector participation potential; and (v) recommend financing mechanisms, institutional strengthening, capacity development and human resource development programs required for the sector development. |
|
Environmental Assessment |
To Be Determined |
|
Project Processing Stage |
Approved by the Bank : 17 December 2007 |
|
Project Officer |
P. Abeygunawardena (632-6363); Energy Division, SARD; pabeygunawardena@adb.org |
Law, Economic Management & Public Policy/ Economic Management
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|
Project Name |
Capacity Development for India Infrastructure Finance Company Limited |
|
Project Type and ID |
AOTA: IND 40655-01 |
|
Executing Agency |
Department of Economic Affairs |
|
TA Amount (US$ '000) |
500.00 |
|
Date of First Listing |
31 October 2007 |
|
Objectives and Scope |
The TA will assist IIFCL in enhancing its treasury and project risk appraisal capabilities in line with the requirements of the comprehensive business plan. Installation of required hardware and software for operationalizing capacity enhancement is also an integral component of the TA. The TA is also expected to institutionalize the above capacity within IIFCL through a training program for selected staff though deployment in specific training programs as well as through attachments in complex treasury environments. |
|
Environmental Assessment |
|
|
Project Processing Stage |
Approved by the Bank : 14 December 2007 |
|
Project Officer |
Cheolsu Kim (632-5174); Governance, Finance and Trade Division, SARD; ckim@adb.org |
Law, Economic Management & Public Policy /Economic Management
|
|
Project Name |
Mainstreaming Public-Private Partnerships at Central Line Ministries of the Government of India |
|
Project Type and ID |
AOTA: IND 41575-01 |
|
Executing Agency |
Department of Economic Affairs |
|
TA Amount (US$ '000) |
2,000.00 |
|
Date of First Listing |
25 September 2007 |
|
Objectives and Scope |
The proposed TA will develop sector specific capacity of central line ministries to promote PPP initiatives for the sectors which these ministries are overseeing. PPP cells at selected ministries would provide sector-specific advice and guidance, among other activities, to state PPP cells and state line departments. Lessons learned in PPPs emphasize the need for sector-specific interventions. ADB's assistance through this TA has significant operational relevance since the enhanced capacity for identifying and developing PPPs will generate business opportunities for ADB infrastructure financing. ADB's assistance through this TA is also an opportunity to address a widely felt need to focus on central line ministries that could among others directly contribute to growth and poverty indicators such as health and education and also in those ministries where the predominance of state impinges on creating a level playing field. |
|
Environmental Assessment |
|
|
Project Processing Stage |
Approved by the Bank : 16 November 2007 |
|
Project Officer |
Syed Ali-Mumtaz H. Shah (632-6290), Governance, Finance and Trade Division, SARD; sshah@adb.org |
Law, Economic Management & Public Policy /Public Finance & Expenditure Management
|
|
Project Name |
Deploying Innovative Information and Communications Technology for Supporting e-Governance in Assam |
|
Project Type and ID |
AOTA: IND 41596-01 |
|
Executing Agency |
Finance Department, Government of Assam |
|
TA Amount (US$ '000) |
500.00 |
|
Date of First Listing |
30 August 2007 |
|
Objectives and Scope |
The impact of the TA will be to help the State Government of Assam to (i) reduce the digital divide by expanding the Assam State-wide area network (ASWAN) for e-governance delivery in rural areas, improve information and communications technology (ICT) accessibility and develop e-governance applications to be identified by the NeGP; (ii) improve the legal, regulatory, and institutional framework for e-governance, and ICT accessibility and expansion; and (iii) enhance institutional capacity and human resources for operating e-governance applications and managing ICT infrastructure. |
|
Environmental Assessment |
|
|
Project Processing Stage |
Approved by the Bank : 15 November 2007 |
|
Project Officer |
Kyung-Nam Shin (632-6543); Governance, Finance and Trade Division, SARD; kshin@adb.org |
Transport & Communications /Roads & Highways
|
|
Project Name |
(R) MFF - Bihar State Roads Investment Program (Facility Concept) |
|
Project Type and ID |
LOAN: IND 41127-01 |
|
Executing Agency |
Road Construction Department
Chief Engineer/Project Director, Road Construction Department (RCD), Government of Bihar, Vishweshwaraiya Bhavan, Bailey Road, Patna, 800015 Bihar |
|
TA Amount (US$ million) |
450.00 |
|
Date of First Listing |
31 May 2007 |
|
Objectives and Scope |
The proposed investment program will improve transport efficiency of the state road network, which will contribute to expansion of economic opportunities and poverty reduction. This will be realized by improving the state road network and enhancing State Government of Bihar's (GOB) capacity for road asset development and management. |
|
Environmental Assessment |
To be determined. |
|
Project Processing Stage |
Fact-Finding Mission Completed : 30 November 2007 |
|
Project Officer |
Hiroaki Yamaguchi (632-6745), Transport and Communications Division, SARD; hyamaguchi@adb.org |
Transport & Communications/ Highways
|
|
Project Name |
(R) Jammu and Kashmir State Roads Investment Program |
|
Project Type and ID |
PPTA: IND 40013-01 |
|
Executing Agency |
Economic Reconstruction Agency of Jammu & Kashmir State
Contact: Project Director; Tel. No. : +91 194-2452359; +91 191-2455412 Address : Srinagar: 1st Floor, Cottage Arts Blvd., Srinagar; Jammu: 13 C/C Gandhi Nagar, Jammu |
|
TA Amount (US$ ‘000) |
1,000.00 |
|
Date of First Listing |
31 October 2007 |
|
Objectives and Scope |
The proposed TA will (i) prepare feasibility study reports and preliminary design for 600-800km roads and 0.5-1.0km bridges and (ii) provide sector analysis for identifying areas for sector development, and (iii) provide capacity enhancement to GOJK for GOJK’s preparing/finalizing safeguard documents, and design and bid documents. |
|
Environmental Assessment |
Required |
|
Project Processing Stage |
Fact-Finding Mission Completed : 28 September 2007 |
|
Project Officer |
Hiroaki Yamaguchi (632-6745); Transport and Communications Division, SARD; hyamaguchi@adb.org |
Transportation & Communications/ Railways
|
|
Project Name |
(R) Railway Sector Investment Program |
|
Project Type and ID |
PPTA: IND 36330-02 |
|
Executing Agency |
Ministry of Railways, Mr. P. Srivastava, Additional Member (Planning); 91 11 2338 7811, 91 11 2338 7811; Rail Bhavan, Raisina Road, New Delhi 110001 |
|
TA Amount (US$ '000) |
1,000.00 |
|
Date of First Listing |
16 August 2007 |
|
Objectives and Scope |
The objective of this TA is to prepare projects for possible financing by ADB using the multi tranche financing facility (MFF) loan modality. These projects are doubling of 6 existing railway lines and electrification of one existing railway line. The TA will also recommend and formulate an implementation plan for efficiency improvement measures to railway organization, work processes and procedures to complement the physical investments to improve the commercial orientation of railway services as well as a sector analysis of the railway sector. |
|
Environmental Assessment |
Required |
|
Project Processing Stage |
Approved by the Bank : 29 November 2007 |
|
Project Officer |
Prodyut Dutt (632-6852), Transport and Communications Division, SARD; pdutt@adb.org |
Multisector
|
|
Project Name |
Capacity Development of the National Capital Region Planning Board |
|
Project Type and ID |
AOTA: IND 41598-01 |
|
Executing Agency |
National Capital Region Planning Board
Ministry of Urban Development, Govt of India
Core-IV B, First Floor, India Habitat Centre
Lodhi Road, New Delhi-110003 |
|
TA Amount (US$ million) |
2,000.00 |
|
Date of First Listing |
31 October 2007 |
|
Objectives and Scope |
The objective of the technical assistance is to strengthen the capacity at NCRPB, state-level National Capital Region (NCR) Cells and other implementing agencies in the area of planning for urban infrastructure and to impart necessary skills to conceive, design, develop, appraise and implement good quality infrastructure projects for planned development of the NCR. The increased institutional capacities of NCRPB and implementing agencies associated with NCRPB will lead to effective and timely scaling-up of urban infrastructure to (i) improvement of the quality of basic urban services in the NCR, (ii) development of counter magnet towns, (iii) reduction of in-migration into Delhi and orderly development of NCR, and (iv) acceleration of economic growth in the NCR. Components of the technical assistance: Component-A: Business process reengineering and capacity building of NCRPB. The business process reengineering, among others, will focus on effective financial management system particularly loan management system integrating loan sanction, disbursals and repayments with project monitoring system over the project life cycle and beyond; reviewing and upgrading systems, procedures, and manuals of the NCRPB in areas such as project appraisal, credit appraisal, portfolio management, resource mobilization and debt recovery; developing models, systems and procedure and requisite skills for evaluating completed projects with respect to planned outcomes and outputs; and developing proposal for a computerized enterprise resource planning (ERP) combined with monitoring the progress of project implementation in the day-to-day management of project activities and financial monitoring system. The business process reengineering will involve identification, review, and documentation of NCRPB's current business processes and workflows. This effort would include the following: identification of a comprehensive list of all business processes, grouped logically by business area; create, review, and receive approval of a standardized business process and workflow documentation template to ensure agreement on the format and level of detail; included will be both overviews of the "as is" environment, as well as identification of opportunities for improvements and high-level descriptions of the desired "to be" environment; conduct business process and workflow meetings with appropriate NCRPB staff; draft the current business processes and workflows documentation. Based on the prior steps, recommendations for improvements will be developed, prioritized and documented, which will include (i) preparation of a comprehensive list of all applicable "best practices" based on experience with other urban infrastructure funds/financial intermediaries; (ii) determine applicability to NCRPB's environment; (iii) consolidate and prioritize the best practice recommendations based on relative benefits to be achieved, resources needed to achieve the change, and time frame of implementation; (iv) document action items, assign appropriately, and draft recommended new reengineered business processes write-ups. The next steps will be to assist in implementing process reengineering recommendations, which will include development of reengineering implementation plans at the schedule, resource, activity, and milestone level; and facilitating the plan by providing assistance on a schedule basis; providing an on-site "change manager" whose sole function, for a specified period of time, is to "drive" the change process. Component-B: Capacity building in project preparation. The technical assistance will strengthen capacities relating to project feasibility studies and preparation, and detailed engineering design in the implementing agencies. This component of the technical assistance will support the Project preparation efforts of the implementing agencies by preparing demonstration feasibility studies and all due diligence documentation required for processing of the Project in accordance with best practices, including ADB's policies and guidelines. The following activities will be carried out under this component: conduct technical, institutional, economic and financial feasibility analyses for the Project using identified subprojects in the 6 sample implementing agencies; conduct safeguards due diligence on the subprojects, including environmental assessment report and resettlement plan for all subprojects covered in the sample implementing agencies, and prepare environmental assessment framework and resettlement framework; develop a capacity building and policy reforms program for the implementing agencies, including governance strengthening, institutional development and financial management; explore and Identify opportunities for potential PPPs in the sectors/subprojects proposed under the Project. Component-C: Urban planning and other activities. The technical assistance will support implementing agencies in providing tools, techniques and principles of planning at metropolitan level, marketing of towns for attracting private investments and project development and implementation besides modern equipments and systems. The technical assistance will support 3-4 studies to provide information and insights to help in the next revisions of the Regional Plan and improve the urban planning process. To expose key stakeholders to world class large capital regions that deal with different entities and administrative zones, external field trips will be supported. Likewise, two conferences to invite global experts in capital region development and regional planning would be supported by the technical assistance. Through a combination of training, workshops, conferences and visits abroad of the key stakeholders of NCRPB and participating entities, the technical assistance will expose the stakeholders to global best practices in the management of integrated capital region development. |
|
Environmental Assessment |
|
|
Project Processing Stage |
Board Circulation Completed : 2 January 2008 |
|
Project Officer |
Sekhar Bonu (632-6572); Urban Development Division, SARD; sbonu@adb.org |
Multisector
|
|
Project Name |
(R) MFF - India Infrastructure Project Financing Facility |
|
Project Type and ID |
LOAN: IND 40655-01 |
|
Executing Agency |
India Infrastructure Finance Company Limited |
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TA Amount (US$ million) |
500.00 |
|
Date of First Listing |
17 July 2007 |
|
Objectives and Scope |
The proposed IIPFF will assist the GoI's effort to accelerate the development of infrastructure, thereby promoting sustainable economic growth and poverty reduction in India. In accordance with the Scheme, investment component will be made available for implementing economically and financially viable infrastructure projects in transport, power, urban infrastructure, gas pipelines, infrastructure projects in specialized economic zones, and international convention centers and other tourism related infrastructure. To be eligible for funding, a project shall be implemented (i.e. developed, financed and operated for the Project Term) by (i) a public sector company and (ii) a private sector company selected under a public-private partnership (PPP) initiative provided. Preference will be given to PPP projects that are awarded to private sector companies selected through a competitive bidding process. |
|
Environmental Assessment |
FI |
|
Project Processing Stage |
Approved by the Bank : 14 December 2007 |
|
Project Officer |
Cheolsu Kim (632-5174), Governance, Finance and Trade Division, SARD; ckim@adb.org |
Multisector
|
|
Project Name |
MFF - Rajasthan Urban Sector Development Investment Program (RUSDIP) |
|
Project Type and ID |
LOAN: IND 40031-01 |
|
Executing Agency |
Urban Development Department |
|
TA Amount (US$ million) |
273.00 |
|
Date of First Listing |
14 November 2006 |
|
Objectives and Scope |
The Investment Program increase economic growth, reduced poverty, and sustained improvement in the urban environment and quality of life in the 15 initially identified ULBs in Rajasthan (the Investment Program ULBs). The expected outcome of the Investment Program will be increased access to sustainable urban infrastructure and services for 1.6 million people in the Investment Program ULBs, and improve capacities of, and sustainable management of urban services by the Investment Program ULBs. |
|
Environmental Assessment |
To be determined. |
|
Project Processing Stage |
DROPPED |
|
Project Officer |
Susanne Wendt (632-6903), Urban Development Division, SARD; swendt@adb.org |
Multisector
|
|
Project Name |
Inclusive Tourism Infrastructure Development Project (formerly State Tourism Development Project) |
|
Project Type and ID |
PPTA: IND 40648-01 |
|
Executing Agency |
Ministry of Tourism India
Fax. No. : 91-11- 23710518; Tel. No. : 91-11- 23321379; Address: Transport Bhawan, 1 Parliament Street, New Delhi-110001 |
|
TA Amount (US$ ‘000) |
1,000.00 |
|
Date of First Listing |
9 November 2007 |
|
Objectives and Scope |
The proposed TA is intended to help the Government of India to achieve its targets of enhanced performance of the tourism sector in an environmentally and culturally sustainable and socially inclusive manner as reflected in an increase in the number and length of stay of tourists and in a more widely distributed income and benefits from tourism and enhanced management of natural and cultural heritage sites of tourism importance. The TA will be implemented in two phases. The expected output of the Phase 1 is (i) an agreed design for a feasible tourism infrastructure project for possible ADB financing. The ensuing project is expected to include in selected states investments in (i) tourism access and connectivity infrastructure, e.g., roads, transport, airports, etc, (ii) destination utility infrastructure and services, e.g., sewerage, water, solid waste management, (iii) natural and cultural heritage conservation and support infrastructure and services, (iv) other tourism facilities and services (e.g., tourism service centers, tourist information facilities/kiosks) and wayside amenities between major destinations and sites (rest rooms, etc), and (v) community based tourism schemes and approaches to enhance multiplier effects and more widely spread the benefits to local communities from tourism. The ensuing project is also expected to include support for enhanced tourism institutional and regulatory frameworks to (i) ensure coordinated actions between a number of agencies towards common goals, (ii) increase private sector participation in tourism infrastructure development and asset management as well as in developing complementary facilities (accommodation and etc), (iii) ensure environmentally and culturally sustainable tourism, and (iv) capacity building and human resource development for sustainable tourism management. The second Phase will commence following the first phase and will provide support in enhancing the project management and implementation skills of the executing and implementing agencies and enhancing the preparedness of the first batch subprojects. |
|
Environmental Assessment |
To Be Determined |
|
Project Processing Stage |
Approved by the Bank : 12 December 2007 |
|
Project Officer |
Gulfer Cezayirli (632-5514); Urban Development Division, SARD; gcezayirli@adb.org |
The Bank Information Center (BIC) partners with civil society in developing and transition countries to influence the World Bank and other international financial institutions (IFIs) to promote social and economic justice and ecological sustainability. BIC is an independent, non-profit, non-governmental organization that advocates for the protection of rights, participation, transparency, and public accountability in the governance and operations of the World Bank, regional development banks, and IMF. For more information about BIC, see www.bicusa.org.
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