Panama Pandemic Response and Growth Recovery Development Policy Operation

closed

Closed

The operation will support the Government of Panama (GoP) to protect human capital during the Coronavirus Disease (COVID-19) crisis and build a more inclusive and sustainable economy during the recovery phase. The 300 million dollars operation is the first of two in a programmatic Development Policy Financing (DPF) series. The DPF series supports reforms organized around three pillars. Pillar A supports emergency measures aimed at protecting human capital during the COVID-19 crisis while laying the ground for improvement in institutions for human capital accumulation. Pillar B supports key policy and institutional reforms for rebuilding a more transparent and fiscally sustainable economy. Pillar C supports institutional reforms to improve agricultural productivity (with a focus on Indigenous Peoples) and to promote the adaptation and mitigation to climate change. The DPF series, thus, support Panama’s efforts to: (i) address key institutional weaknesses; and (ii) reduce long-term inequities; while (iii) supporting two key global public goods, combating illicit flows and contributing to adaptation and mitigation to climate change. This DPF series also supports reforms considered global public goods and advances the climate change adaptation and mitigation agenda, consistent with both the IBRD's policies for countries above the GDI and the Bank’s climate change commitments. On the global public goods agenda, this operation supports the creation and operationalization of the UBO registry, which is a critical reform for anti-money laundering and combating the financing of terrorism and international tax evasion. The second operation supports the development of a COVID-19 vaccine strategy, which is also a global public good. On climate change, the DPF series support reforms to incorporate energy and environmental considerations in procurement processes, increase the competitiveness of renewable energies, and create the inventory and registry of carbon emissions to allow the future creation of a carbon market.

World Bank Group

Project

Raw Materials, Government, Education