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Ecuador - First Green and Resilient Recovery Development Policy Loan (English)

The development objectives of the First Green and Resilient Recovery Development Policy Loan in Ecuador assist the government in its agenda to tackle selected structural challenges to foster growth, inclusion, job creation, and climate resilience, strengthen low-carbon development and help realize its commitment to become carbon neutral by 2050. The first pillar tackles selected structural challenges to foster growth, inclusion, job creation, and climate resilience. It supports selected measures to: (i) make fiscal management more inclusive and resilient by increasing tax collection in an inclusive, transparent, and green manner and strengthening the institutional framework to deal with climate-related challenges; (ii) foster growth and labor opportunities by reducing trade barriers, and reducing rigidities in labor markets; and (iii) strengthen mechanisms to support the most vulnerable groups such as people at the bottom of the income distribution and those exposed to malnutrition. The second pillar strengthens low-carbon development. It does so by: (i) promoting a greener and more resilient energy sector by fostering private investment in developing NCRE generation, including distributed renewable generation, 13 fostering energy efficiency investments, and promoting a decarbonized transport sector; and (ii) enhancing measurement and reporting of GHG mitigation initiatives to better monitor decarbonization progress, and help develop voluntary carbon markets.

Details

  • Document Date

    2021/12/23

  • Document Type

    Program Document

  • Report Number

    PGD305

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Ecuador,

  • Region

    Latin America & Caribbean,

  • Disclosure Date

    2022/02/01

  • Disclosure Status

    Disclosed

  • Board Meeting Date

    2022-02-01T00:00:00Z

  • Doc Name

    Ecuador - First Green and Resilient Recovery Development Policy Loan

  • Keywords

    Senior Financial Management Specialist; Poverty and Social Impact Assessment; disaster risk management; Job Creation; oil revenue; access to external finance; Public and Private Institution; investment in energy efficiency; health and nutrition; climate-related disaster; resilience to climate change; exposure to climate change; gross fixed capital formation; Below the Poverty Line; victims of human trafficking; Grievance Redress Service; access to social security; labor market due; access to digital technology; short period of time; small and medium enterprise; technology need; senior procurement specialist; access to international finance; Water Resource Management; Social Protection; climate change mitigation; oil price; fiscal consolidation; ecological transition; digital development; access to finance; private investment; public-private partnership; category of revenue; macroeconomic policy framework; central bank loan; labor market rigidity; Labor market rigidities; million people; international oil price; social protection system; energy efficiency investment; disaster risk financing; current account surplus; business environment; Energy Sector; international capital market; incidence of poverty; public sector wage; minimum wage hike; transmission and distribution; economic growth strategy; generation of electricity; clean energy generation; oil price decline; foreign direct investment; current account deficit; local fuel prices; cost of fuel; tax administration measure; social security contribution; increase tax revenue; renewable energy generation; tight fiscal situation; long-term climate change; public sector finance; number of women; clean energy development; consumer price index; greenhouse gas emission; renewable energy sector; regional value chain; access to information; terms of trade; private sector dynamism; low oil price; climate change challenge; risk management capacity; windfall oil revenue; social assistance program; fossil fuel consumption; increase tax collection; reducing trade barriers; chronic child malnutrition; climate change risk; children at risk; price band system; reduction of emission; access to health; natural disaster risk; small hydroelectric plant; transport sector reform; efficient energy use; obstacles to growth; public bidding process; governance and institutions; per capita income; increasing energy efficiency; renewable energy technologies; climate change issue; lack of control; state-owned enterprise; fiscal policy framework; care of child; public expenditure efficiency; summary of risks; Exchange Rates; global value chain; trade and investment; barrel of oil; emerging market bond; public private partnership; state owned enterprise; personal income tax; pandemic level; public debt; carbon trading; capital expenditure; bond restructuring; fiscal deficit; economic recovery; program leader; land-use change; external financing; fiscal risk; climate resilience; fiscal balance; Fiscal Sustainability; labor opportunity; institutional framework; investment climate; Oil Export; vaccination campaign; carbon neutrality; pregnant woman; trade agreement; land use; international reserve; renewable generation; domestic credit; electricity grid; social program; labor income; Fiscal policies; compensation mechanism; Public Spending; treasury certificate; government's commitment; rural area; trade integration; floating debt; Fuel Subsidies; outstanding balance; fiscal recovery; Tax Reform; financing source; political consensus; external condition; fiscal framework; Public Services; labor regulation; ghg emissions; recent months; beneficial owner; electric vehicle; Tax Evasion; expenditure rationalization; government effort; human mobility; disproportionate burden; statistical survey; low interest; vulnerable woman; labor reform; hydroelectricity production; public arrears; external funding; multiplier effect; total emissions; non-governmental organization; legislative framework; product market

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Citation

Ecuador - First Green and Resilient Recovery Development Policy Loan (English). Washington, D.C. : World Bank Group http://documents.worldbank.org/curated/en/550461644345347852/Ecuador-First-Green-and-Resilient-Recovery-Development-Policy-Loan