[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111068-en":3,"doc-seo-111068-105":28,"detail-sidebar-cat-0-en-105":88},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":20,"language":21,"language_code":22,"site_id":23,"html_lang":22,"table_of_contents":24,"faqs":25,"seo_title":13,"seo_description":14,"update_tm":26,"read_time":27},111068,1099513958607,"Jiven","https://ap-avatar.wpscdn.com/avatar/100002390cf8733938c?x-image-process=image/resize,m_fixed,w_180,h_180&k=1778829742770036399",8,"Research & Report","Bhutan Dorjilung Hydroelectric Power Project (DHPP) Investment Project Financing - Chair Summary - January 22, 2026","Executive Directors approved financing for Bhutan’s Dorjilung Hydroelectric Power Project (DHPP), including an IDA credit and IDA grant to Bhutan, an IBRD enclave loan to the project company and Bhutan, and an IFC loan to the project company subject to terms in the President’s Memorandum. Directors also approved, for the IFC loan only, a waiver affecting the eligibility period for requests for inspection under the 2025 Accountability Mechanism resolution. The discussion emphasized a one-WBG approach, job creation, climate co-benefits, gender inclusion potential, and the project’s high-risk rating, requesting close monitoring and regular implementation updates.","Public Disclosure Authorized Public Disclosure Authorized  \nBhutan  \nDorjilung Hydroelectric Power Project (DHPP) Investment Project Financing  \nChair Summary*  \nJanuary 22, 2026  \nExecutive Directors approved (i) an IDA credit of US$150 million and an IDA grant of SDR 110,500,000 (US$150 million equivalent) to Bhutan; (ii) an IBRD enclave loan of US$215 million (comprising US$200 million to Dorjilung Hydro Power Limited (DHPL, Project Company) and US$15 million to Bhutan) for the Dorjilung Hydroelectric Power Project (DHPP); and (iii) an IFC Loan of up to US$300 million equivalent in INR to DHPL on the terms and conditions set out in the President’s Memorandum. Mmes. Francken and Rechico, and Messrs. Rhuggenaath and Jinda, wished to be recorded as abstaining.  \nDirectors also approved, only in respect of the IFC loan, the waiver of paragraph 15(c)(ii) of the 2025 Accountability Mechanism Resolution, which sets the limit for the eligibility period of Requests for inspection at no more than fifteen months after Closing Date, to enable complaints tobe submitted beyond that period until such time as IFC exits or the IFC loan is repaid.  \nDirectors welcomed the project’s one-WBG approach, its contribution toward creating more and better jobs, and alignment with the current Country Partnership Framework’s focus on helping increase private investment, enhance climate resilience, promote energy security, and build resilient infrastructure. They also welcomed the project’s replication potential, extensive climate co-benefits, and possibility to advance gender inclusion.  \nGiven the ongoing Board-led review regarding the integration the different Accountability Mechanisms, Directors stated that waivers granted for this project should not set a precedent for future operations. Directors pointed out that earlier consultations with the Accountability Mechanism experts in the institution as well as a better presentation and communication of approaches would have been preferable and helpful. Directors did emphasize that the project could provide useful lessons to be learned.  \nFinally, Directors noted the project’s overall high-risk rating, highlighting the importance of close monitoring and adjustments when necessary, and requested regular updates on project implementation.  \n*This Summary is not an approved record.","cbCaidOmklJzTmO6","https://ap.wps.com/l/cbCaidOmklJzTmO6","pdf",113368,1,"English","en",105,"# Executive Directors approvals\n## IDA, IBRD, and IFC financing components\n## Accountability Mechanism waiver for IFC loan\n# Key discussion points\n## One-WBG approach, jobs, climate co-benefits, and inclusion\n## Risk management and monitoring","[{\"question\":\"What financing instruments did Executive Directors approve for DHPP?\",\"answer\":\"They approved an IDA credit and IDA grant to Bhutan, an IBRD enclave loan for the project company and Bhutan, and an IFC loan up to the specified amount to the project company under the President’s Memorandum terms.\"},{\"question\":\"What waiver was approved, and for which portion of financing?\",\"answer\":\"Directors approved a waiver for the IFC loan only, addressing the paragraph 15(c)(ii) limit on the inspection request eligibility period, allowing complaints to be submitted beyond that period until IFC exits or the IFC loan is repaid.\"},{\"question\":\"What operational and risk-related guidance did Directors provide?\",\"answer\":\"Directors highlighted the project’s high-risk rating, emphasizing close monitoring and necessary adjustments, and requested regular updates on project implementation. They also stated the waiver should not set a precedent for future operations.\"}]",1784488430,3,{"code":4,"msg":29,"data":30},"ok",{"site_id":23,"language":22,"slug":31,"title":13,"keywords":32,"description":14,"schema_data":33,"social_meta":83,"head_meta":85,"extra_data":87,"updated_unix":26},"bhutan-dorjilung-hydroelectric-power-project-dhpp-investment-project-financing-chair-summary-january-22-2026","",{"@graph":34,"@context":82},[35,51,65],{"@type":36,"itemListElement":37},"BreadcrumbList",[38,42,46,48],{"item":39,"name":40,"@type":41,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":43,"name":44,"@type":41,"position":45},"https://docshare.wps.com/document/","Document",2,{"item":47,"name":12,"@type":41,"position":27},"https://docshare.wps.com/document/research-report/",{"item":49,"name":13,"@type":41,"position":50},"https://docshare.wps.com/document/bhutan-dorjilung-hydroelectric-power-project-dhpp-investment-project-financing-chair-summary-january-22-2026/111068/",4,{"url":49,"name":13,"@type":52,"author":53,"headline":13,"publisher":55,"fileFormat":58,"inLanguage":22,"description":14,"dateModified":59,"datePublished":59,"encodingFormat":58,"isAccessibleForFree":60,"interactionStatistic":61},"DigitalDocument",{"name":9,"@type":54},"Person",{"url":39,"name":56,"@type":57},"DocShare","Organization","application/pdf","2026-07-19",true,{"@type":62,"interactionType":63,"userInteractionCount":4},"InteractionCounter",{"@type":64},"ViewAction",{"@type":66,"mainEntity":67},"FAQPage",[68,74,78],{"name":69,"@type":70,"acceptedAnswer":71},"What financing instruments did Executive Directors approve for DHPP?","Question",{"text":72,"@type":73},"They approved an IDA credit and IDA grant to Bhutan, an IBRD enclave loan for the project company and Bhutan, and an IFC loan up to the specified amount to the project company under the President’s Memorandum terms.","Answer",{"name":75,"@type":70,"acceptedAnswer":76},"What waiver was approved, and for which portion of financing?",{"text":77,"@type":73},"Directors approved a waiver for the IFC loan only, addressing the paragraph 15(c)(ii) limit on the inspection request eligibility period, allowing complaints to be submitted beyond that period until IFC exits or the IFC loan is repaid.",{"name":79,"@type":70,"acceptedAnswer":80},"What operational and risk-related guidance did Directors provide?",{"text":81,"@type":73},"Directors highlighted the project’s high-risk rating, emphasizing close monitoring and necessary adjustments, and requested regular updates on project implementation. 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