82060

                        Timor Leste: Road Climate Resilience Project
                                   Additional Financing

                                           Chair Summary*

                                 Meeting of Executive Directors

                                           October 22, 2013


      Executive Directors approved the additional credit and loan for the Road Climate
Resilience Project for the Democratic Republic of Timor-Leste in the amount of a US$25 million
IDA credit and a US$15 million IBRD loan on the payment terms and conditions set out in the
President’s Memorandum. (R2013-0179[IDA/R2013-0249]). Directors also approved the waiver
to Operational Policy 10.00 (Investment Project Financing), paragraph 26, to allow additional
financing to an underperforming project.

      Directors noted that Dili-Ainaro Road serves some of the poorest and most populous areas
of Timor-Leste, and those where agriculture and tourism potential is the greatest, and that the
operation is aligned with the IBRD/IDA/IFC Timor-Leste Country Partnership Strategy (FY13-
17). Directors supported scaling up the original project by rehabilitating the entire Dili-Ainaro
corridor, as well as feasibility studies including gender inclusiveness, and detailed designs of
road segments linked to the main road. Directors highlighted the need for sustainable
maintenance and ensuring that Bank supervision monitors performance, achievement of
indicators, and capacity building. They also emphasized the need to take advantage of this
experience as a learning opportunity. Finally, they noted the importance the Government of
Timor-Leste attached to the Dili-Ainaro corridor and welcomed its significant counterpart
financing.




__________________________
*This summary is not an approved record.