The World Bank Indonesia Coral Bond (P181486) Appraisal Environmental and Social Review Summary Appraisal Stage (ESRS Appraisal Stage) Public Disclosure Date Prepared/Updated: 11/15/2024 | Report No: ESRSA03787 Nov 25, 2024 Page 1 of 11 The World Bank Indonesia Coral Bond (P181486) I. BASIC INFORMATION A. Basic Operation Data Operation ID Product Operation Acronym Approval Fiscal Year P181486 Investment Project Financing (IPF) Coral Bond 2025 Operation Name Indonesia Coral Bond Country/Region Code Beneficiary country/countries Region Practice Area (Lead) (borrower, recipient) Indonesia Indonesia EAST ASIA AND PACIFIC Environment, Natural Resources & the Blue Economy Borrower(s) Implementing Agency(ies) Estimated Appraisal Date Estimated Board Date Republic of Indonesia Indonesia Climate Change Trust Fund 28-Nov-2024 01-Mar-2025 (ICCTF), Indonesian Environment Fund (IEF), Ministry of Marine Affairs and Fisheries Public Disclosure Estimated Decision Total Project Cost Review Date 14,861,468.00 Proposed Development Objective To improve coral reef health and conservation outcomes in target marine protected areas B. Is the operation being prepared in a Situation of Urgent Need of Assistance or Capacity Constraints, as per Bank IPF Policy, para. 12? No C. Summary Description of Proposed Project Activities Disclaimer: THE FOLLOWING IS A SUMMARY OF A PROJECT WHICH HAS BEEN APPROVED IN CONCEPT AND IS SUBJECT TO COMPLETION AND AMENDMENT. IT IS NOT AN OFFER OR INVITATION TO SELL THE NOTES OR A SOLICITATION OF AN OFFER TO BUY THE NOTES, NOR DOES IT CONSTITUTE ANY FORM OF ADVICE. THIS SUMMARY IS SEPARATE FROM, AND SHOULD NOT BE READ IN COMBINATION WITH, ANY OFFER OR SALE OF THE NOTES, WHICH WILL BE MADE IN COMPLIANCE WITH APPLICABLE LAWS AND UNDER ENTIRELY SEPARATE LEGAL DOCUMENTATION AND OFFERING Nov 25, 2024 Page 2 of 11 The World Bank Indonesia Coral Bond (P181486) MATERIALS AT THE TIME OF OFFER. POTENTIAL INVESTORS SHOULD NOT SUBSCRIBE FOR ANY NOTES REFERRED TO IN THIS SUMMARY EXCEPT ON THE BASIS OF INFORMATION CONTAINED IN SUCH ENTIRELY SEPARATE LEGAL DOCUMENTATION AND OFFERING MATERIALS AT THE TIME OF OFFER. THIS SUMMARY IS VERY HIGH LEVEL FOR SIMPLICITY AND LEAVES OUT MATERIAL INFORMATION AND DOES NOT INLCUDE ANY LEGAL DOCUMENTATION THAT WOULD GOVERN THE NOTES. Indonesia hosts 16 percent of the world’s coral reefs, which in turn are home to 25 percent of all marine life. Coral ecosystems are increasingly vulnerable, with one-third of reef building corals facing extinction. Effectively managed MPAs have proven to conserve marine and coastal ecosystem services and enhance the resilience of marine ecosystems. Yet, recent performance assessment of 61 MPAs in Indonesia revealed that they are not delivering on their conservation goals. The main constraints are the underfunding of MPAs, the focus on MPA management process rather than outcome measures of success, the absence of prioritization or mitigation of threats to conservation, suboptimal stakeholder engagement especially of women and marginalized groups in decision-making, and the absence of independent validation of MPA effectiveness assessments. The proposed Indonesia Coral Bond is the world’s first outcome-based financing instrument delivering independently verified global environmental benefits in 1.9 million hectares of some of the most biodiverse coral reefs and associated ecosystems on the planet. The outcome bond, modeled after the Rhino Wildlife Conservation Bond, will be issued by the World Bank in collaboration with the Global Environment Fund (GEF) and the Government of Indonesia. The proposed project aims to improve coral reef health and conservation outcomes in three target MPAs in Indonesia. It will build on the GoI’s efforts to increase the effectiveness of MPA management to global standards and deliver the measurable biodiversity outcome of healthy coral reefs, a global environmental benefit. The project will be implemented by the Indonesia Environment Fund, in collaboration with the Ministry of National Development Planning and the Ministry for Marine Affairs and Fisheries. Under this financial instrument, approximately US$10 million worth of coupon payments will be channeled to the Coral Public Disclosure Bond project to finance marine conservation activities. US$13.76 million from GEF Non-Grant Instrument (NGI) and US$1.1 million from BNP Paribas will be held in reserve and later released, in part or in full, to bond investors as Conservation Success Payments. The Payments will be triggered, and the amount paid out, subject to the level of success achieved in the Key Performance Indicator (KPI). The KPI is a selected biodiversity indicator related to coral reef health – increase in coral reef fish biomass – and will be verified on an annual basis to track its progress. The project aims to have the three target MPAs at least 80 percent aligned with all IUCN Green List Standard criteria, which is the minimum requirement for a site to be included in the Green List. An analysis of the three MPAs against the Green List identified key gaps in alignment on stakeholder engagement, the definition of and targets for major site values, threat prioritization and management, monitoring of ecological and socioeconomic outcomes, and MPA financial sustainability. The project will thus finance site-specific activities to fill the identified gaps at each target MPA, including to address key threats to coral reefs in the target MPAs. The project will also strengthen the ability of MPAs to mobilize financial resources for their long-term sustainability. Under Component 1, Improve Management Effectiveness of Target MPAs to Deliver Measurable Outcomes, the project will finance: (i) Benchmarking MPAs against the IUCN Green List Standard; (ii) Stakeholder Engagement and Threat Identification, Prioritization and Mitigation; (iii) Coral Reef Health Monitoring; and (iv) Ensuring Financial Sustainability of MPAs. Component 2 will ensure project management, capacity building, coordination, knowledge management and monitoring and evaluation of results. The added value of the proposed project lies in testing new approaches to close the MPA funding gap to deliver global environmental benefits. These innovations include: (i) the mobilization of private capital to finance MPA management; (ii) moving from output-focused to outcome-focused management of MPAs; (iii) developing a scientifically rigorous and statistically robust monitoring system to demonstrate MPAs’ impact on coral reef health; and (iv) ensuring that the management of MPAs is consistent with global standards of best practice. The Indonesia Coral Bond represents a unique opportunity to unlock private Nov 25, 2024 Page 3 of 11 The World Bank Indonesia Coral Bond (P181486) finance for marine conservation. Should this model succeed in Indonesia, there is potential for scale-up through replication in other MPAs globally. D. Environmental and Social Overview D.1 Overview of Environmental and Social Project Settings The Coral Bond project builds on the ongoing Oceans for Prosperity Project (LAUTRA). LAUTRA is implemented in 20 Marine Protected Areas (MPAs) across 11 provinces in Eastern Indonesia, which represents areas with high biodiversity, using the recently adopted national Technical Guidelines and Partnerships for evaluating conservation area effectiveness (EVIKA) to monitor progress of MPAs management. The Coral Bond will incentivize the government to go beyond the EVIKA scorecard and test the IUCN Green List certification process for three LAUTRA MPAs. The three target MPAs are: KKN Raja Ampat, KKPD Raja Ampat and KKPD Selat Pantar (Alor). The three MPAs (with an area of 2, 227,688 hectares) were selected based on three key criteria: their global biodiversity significance, representativeness of their institutional setting, and their existing management performance. First, they lie within the globally significant Coral Triangle ecoregion and encompass a significant proportion of two seascapes, the Birds Head Seascape & the Sunda Banda Seascape. The Birds Head Seascape contains KKN Raja Ampat and KKPD Raja Ampat and is the most biodiverse marine area on Earth with about 1,600 reef fish species and over 550 coral species recorded. The Sunda Banda Seascape contains KKPD Alor and is a priority conservation region, harboring over three- quarters of known coral species and has been identified as one of the Earth’s coral reef regions that is at lowest risk of increased bleaching. Institutionally, these MPAs are representative of the two models of MPA management in Indonesia: with one managed by national government, and two managed by provincial governments. This allows the Public Disclosure project to be tested within two different institutional settings. Finally, these MPAs have some of the highest MPA management performance levels in Indonesia according to national standards and are strong candidates for accelerating to international standards of management effectiveness for improved conservation outcomes. A preliminary assessment undertaken during project preparation revealed three key threats to the MPAs: (i) overfishing and destructive fishing including the use of illegal fishing methods; (ii) lack of zone compliance with permit requirements and incursions by fishing vessels into restricted zones; (iii) pollution and visitor impacts causing physical damage to reefs. The intensity and frequency of threats are not well understood by management units and threat response tends to be reactive rather than strategic. A total of 173,836 people is residing across 224 coastal and small islands villages, which are directly adjacent to the three pilot existing MPAs. Based on preliminary social assessment prepared for LAUTRA, consultations and a degree of adoption of local and indigenous knowledges and practices, including sustainable fishing techniques & practices, & fishing gears, were adopted in the management plans. By design, MPAs in Indonesia allocate seaspace for fishing activities (the utilization zone). D.2 Overview of Borrower’s Institutional Capacity for Managing Environmental and Social Risks and Impacts The lead implementing agency will be Indonesian Environment Fund (IEF), an agency mandated to channel and distribute environmental and climate funds to support Indonesia’s sustainability targets. IEF is a public service agency accountable to and structurally operationalized under the MOF. A Project Management Unit (PMU) will be established in the IEF to administer the project. The PMU is responsible for overall project coordination, day-to-day management, Nov 25, 2024 Page 4 of 11 The World Bank Indonesia Coral Bond (P181486) safeguards monitoring, project progress monitoring, evaluation and reporting, and coordination with other government agencies. The PMU will be staffed with project director, and safeguards specialists. Project Implementation Units (PIU) will be placed at: 1) BKKPN Kupang (MMAF); 2) UPTD MPA Alor, East Nusa Tenggara; 3) UPTD-BLUD MPA Raja Ampat; 4) ICCTF - BAPPENAS. The PIUs are responsible for facilitating the activities planning, implementation, monitoring and evaluation, and reporting of activities at the subnational level (provincial/district/village), as well as coordination with relevant stakeholders at the subnational level. Some of the activities at the subnational level will be carried out by NGOs as implementing partners through IEF sub-grant mechanism. IEF is experienced in implementing World Bank-financed operations and is familiar with the World Bank’s fiduciary requirements, including E&S risks management. The projects include Mangrove for Coastal Resilience project (P178009) and Indonesia Disaster Risk Finance & Insurance (P173249). The World Bank also provides technical assistance to support IEF’s capacity (P175025) including the establishment of the Environment and Social Management System (ESMS) and Management Information System (MIS). The project ESCP requests PMO to appoint E&S focal point(s) and consultants (one environmental consultant, one social consultant) for the implementation of the Coral Bond project. MMAF has experience too in implementing WB-financed projects, such as the completed Coral Reef Rehabilitation & Management Program/ COREMAP, and ongoing Oceans for Prosperity/ LAUTRA project. Indonesian Climate Change Trust Fund (ICCTF) also has experience in implementing World Bank financed project such as COREMAP – Coral Triangle Public Disclosure Initiative (P127813) and ongoing Oceans for Prosperity/LAUTRA Project (P173391). The E&S capacity will be revisited during project implementation. II. SUMMARY OF ENVIRONMENTAL AND SOCIAL (ES) RISKS AND IMPACTS A. Environmental and Social Risk Classification (ESRC) Moderate A.1 Environmental Risk Rating Moderate The project's primary activities would fall under the category of Technical Assistance (TA) which aims to enhance the management of the selected marine protected areas in Indonesia, including the assessment, monitoring, and overall management of the three target MPAs, with the ultimate objective is to be admitted to the IUCN Green List of Protected and Conservation Areas. The Project will not involve any civil work construction, such as new physical buildings or infrastructure development. It will not procure any substances that could pose serious risks to human health or the environment. The project will not provide funding for Type 1 TA (see the classification of the WB OESRC Advisory Note Technical Assistance and the Environmental and Social Framework), which typically assists the client in various phases of preparing future investments in infrastructure or other sectors. This means that the project will not support the preparation of feasibility studies, detailed technical designs, safeguard instruments, bid documents, etc. in preparation for the future construction of physical infrastructure or for the implementation of other activities with potentially significant physical impacts. The proposed project will support Type 2 and Type 3 TA activities to further progress towards Green List standards by investing in assessment and capacity building activities (see ESS1 below). Nov 25, 2024 Page 5 of 11 The World Bank Indonesia Coral Bond (P181486) The TA activities under the project, if successfully implemented, will improve effective management for the three MPAs (e.g. improved governance and management of MPA, and conservation outcomes) in line with international standards. Potential environmental risks are expected to be limited (see Section B. B1). At the Appraisal Stage, the environmental risk is rated as Moderate. Moderate A.2 Social Risk Rating Social risk rating is considered Moderate given the nature of activities proposed under this Project is a Technical Assistance (TA), with no civil construction anticipated. Potential downstream impact of access restriction on local communities has been considered and mitigated through approaches and instruments explained further below. The activities proposed are including providing funding for conducting workshop and training for MPA’ authorities, governments, and NGOs/CSOs implementing partners to apply Green List status, identification/assessment on benchmark between EVIKA and the Green List Standard. This includes field assessment to applying Green List tool, data integration, in-depth review of each proposed MPA management plan and further supports to meet the IUCN Green List Standard through strengthening management process and monitoring, data management and reporting. According to the OESRC Advisory Note on TA and the ESF (2019), these typical TAs are categorized as Type 2, e.g., producing documents and technical/ analytics reports, and Type 3 e.g., capacity building. The project does not finance feasibility or design of any future investments in specific footprints with potential downstream adverse impacts. Social risk may involve moderate health and safety risks as the project will hire a small number of project workers to perform combination of office-based works and in field assessment (including dividing activities) to apply the Green List standards. Indigenous peoples (adat communities) are present in three MPAs locations. In this project, the context of IP-based instrument are to enhance adat communities' participation in the management of MPAs, Public Disclosure including to enhance the existing practices of community-based monitoring of MPAs in some villages. Hence, an Indigenous People Planning Framework (IPPF) and precautionary-oriented Process Framework (PF) are prepared as part of POM and is cross referenced to project-preliminary Stakeholder Engagement Plan (SEP). Potential downstream impact resulting from strengthening of monitoring exercise of the existing MPAs’ on artisanal/ traditional and small-scale fishers' access are likely to occur but limited in geographical scope and less significant. Few coastal and small island villages are located in close proximity to 'no take zone' (no fishing policy) but majority of residents are aware of such policy and are engaged in community-based ecotourism and seaweed farming, which are facilitated by MMAF and local government in respective MPA. Further, local communities in these few villages could still fish within the utilisation zone e.g., fishing zone. Based on PAD, there is no plan to change the zoning area of MPA, so no significant impact of access restriction on local fishers is envisaged. However, as precautionary measure, the Project prepares Process Framework as part of POM to enhance meaningful consultations and to capture concerns and grievances if arises. Hence, meaningful consultations with local communities, and accessible & reliable Grievance Redress Mechanism would be key mitigation measures. Upon further assessment on the first 12 months of implementation, since the locations are overlapped, the Project could explore the possibility and link these communities with LAUTRA to access benefits under the livelihood component. At Appraisal stage, social risk is considered to be Moderate. B. Environment and Social Standards (ESS) that Apply to the Activities Being Considered B.1 Relevance of Environmental and Social Standards Nov 25, 2024 Page 6 of 11 The World Bank Indonesia Coral Bond (P181486) ESS1 - Assessment and Management of Environmental and Social Risks and Impacts Relevant ESS1 is relevant. The project, together with the ongoing LAUTRA project, is expected to bring positive environmental benefits through the effective management of MPAs. As mentioned above, the project's primary activities fall under the category of Technical Assistance (TA), which aims to enhance the management of the selected existing marine protected areas in Indonesia, including the assessment, monitoring, and overall management of the three target existing MPAs. The proposed project will support TA activities (Type 2 and Type 3- refer to the classification of the WB OESRC Advisory Note Technical Assistance and ESF), to further progress towards the Green List standard, and lead to the improved management of the selected MPAs. The project has prepared an Environment and Social Commitment Plan (ESCP). Some details procedure, such as Grievance Redress Mechanism (GRM), Code of Conduct for project workers, Indigenous People Planning Framework (IPPF), Process Framework (PF), providing safeguard inputs to the Standard Operating Procedure (SOP) for MPA patrolling, and an overview plan for E&S capacity building, will be included in the Project Operations Manual (POM). ESS10 - Stakeholder Engagement and Information Disclosure Relevant ESS10 is relevant. The Project is preparing a preliminary Stakeholder Engagement Plan (SEP) for the whole project activities, which aims to provide principles and generic guideline on participation and consultations with stakeholders, including local communities and customary/ adat communities, and procedure on project grievance redress mechanism (GRM). This draft SEP will be finalised and implemented as part of Component 1 of the Project during implementation. Few consultations with stakeholders, including local implementing units (BPKKPN Kupang, BLU, and BLUD), local governments (Dinas KP Alor and Dinas KP Raja Ampat) and local communities (informal visit Public Disclosure and conversations), have been conducted by Ministry of Marine Affairs and Fisheries to consult on the potential downstream impact of access restriction on few local communities in KKD Alor. Based on MMAF's initial assessment, and World Bank's due diligence, at this Appraisal stage, there is no significant potential downstream impact of access restriction on adat and local communities envisaged from the project activities. The client and WB also discuss on ways to operationalise GRM of the Project, and make sure that Grievance Mechanism is accessible to local and adat communities. ESS2 - Labor and Working Conditions Relevant ESS 2 is relevant as the involvement of civil servants and project’s consultants (IUCN expert reviewers/ inspectors/ evaluators) are anticipated in the project and are considered as direct workers. Social risk may involve health and safety risks of project workers, which is moderate, as the project’s workers will perform a combination of mostly office-based works and during field travels to conduct field assessments, including diving activities. Measures to address or prevent risks and impacts will be prepared and become a section in the Project Operations Manual (POM) that will include such as health and safety measures associated with field works and codes of conduct on respectful behavior covering prevention and management of SEA/SH, as well as worker’s feedback and grievances mechanisms provision. Further, safeguard will provide inputs to the MPA-Patrolling SOP to ensure these activities are aligned with the Project's worker code of conduct, which includes provision of non-violence and respectful behaviours. This provision will be outlined in the Environmental and Social Commitment Plan (ESCP). ESS3 - Resource Efficiency and Pollution Prevention and Management Relevant Nov 25, 2024 Page 7 of 11 The World Bank Indonesia Coral Bond (P181486) ESS3 is relevant due to the potential impacts and risks of the TA activities under the proposed project. Management measures may encompass strategies for pollution prevention and management to mitigate impacts on protected areas. This will be further assessed during project implementation after TA details are known. ESS4 - Community Health and Safety Not Currently Relevant ESS4 is not currently relevant as project activities do not likely increase potential health and safety risks and impacts on communities. ESS5 - Land Acquisition, Restrictions on Land Use and Involuntary Resettlement Relevant While there is no activity required land acquisition nor involuntary resettlement anticipated to be financed under this project, the Project considers access restriction as a potential downstream impact. Further assessment during the first 12-months will be conducted to carefully access this potential downstream impact. As precautionary measure in mitigating the risk, the Project prepares a Process Framework (PF) to ensure consultations are undertaken meaningfully, and provision of accessible GRM to local and adat communities. Process Framework will be included in POM. ESS6 - Biodiversity Conservation and Sustainable Management of Living Natural Relevant Resources A preliminary rapid assessment of the three target MPAs undertaken during project preparation revealed that they did not meet the global best practice for protected area management as defined by the IUCN Green List Standard. Public Disclosure Identified areas for improvement include: (i) enhancing stakeholder and rightsholders engagement at each site; (ii) improving the understanding of the social and economic context to be reflected in management goals and objectives; (iii) setting clear biodiversity and socioeconomic targets; (iv) ensuring that major threats are understood and reflecting mitigation activities in management plans for implementation; (v) enhancing the monitoring of conservation and socio-economic outcomes; and (vi) ensuring that arrangements are in place to deal with financial sustainability. This project will support further progress toward the Green List Standards and use the IUCN List Standards to track, improve, and verify the performance of the three target MPAs. It includes benchmarking against IUCN Green list standards; engaging stakeholder, enhancing the ability of target MPAs to manage threats to conservation outcomes(as mentioned in D.1, there are three key threats identified for the MPAs), and monitoring coral reef health and other related activities. The key results are expected to include: i) Quantitative management standards for MPA management are established in Indonesia, reflecting global standards of best practice, and augmenting the qualitative assessments currently applied via EVIKA.; ii) three Indonesian MPAs, delivering independently verified successful conservation outcomes (e.g. hard coral reef, reef fish biomass) are admitted to the IUCN Green List of Protected and Conserved Areas; iii) Government of Indonesia’s capacity to implement outcome- based financing mechanism for biodiversity conservation is increased; iv) New sources of private capital are mobilized for marine conservation in Indonesia. The improvement of biodiversity conservation and management of living natural resources is expected to be a positive impact from the project. ESS7 - Indigenous Peoples/Sub-Saharan African Historically Underserved Traditional Relevant Local Communities Nov 25, 2024 Page 8 of 11 The World Bank Indonesia Coral Bond (P181486) ESS 7 is relevant to the proposed activities. Based on preliminary social assessment done for LAUTRA and re- confirmed through workshop and consultations during IDN Coral Bond preparation, indigenous peoples (adat communities) are present in the three MPAs of target locations for Coral Bond. However, considering the nature of the activities, e.g., technical assistance to improve governance, management, and to apply the IUCN Green List standard certification, there is no significant adverse impacts anticipated. While there is a slim likelihood of access restriction, based on a couple of workshop and consultations with local implementing units (in Alor and Raja Ampat) and local communities undertaken as part of due diligence, no significant impact on adat communities' livelihoods is envisaged. This is due to communities in few villages in Alor and Raja Ampat in close proximity with 'no take zone', are aware that those sea spaces are within the 'no take zone' and they have engaged in other ocean-based economies such as ecotourism and seaweed farming. Further, for some traditional/artisanal fishers, they could still fish in the designated fishing ground ('utilisation zone'). In fact, adat communities have been practicing sustainable fishing practices, which has been included in the management plan, such as Hadi Mulung/Oba Mulung in Alor and Sasi in Raja Ampat Papua (Mulung and Sasi refers to seasonal temporary closure and disclosure for certain fishing ground which have been practice for generations, with idea to enable fish stocks to replenish naturally). Engagement with Indigenous Peoples/ adat communities will be enhanced in the IPPF in POM, and its provision to be included in the ESCP. ESS8 - Cultural Heritage Not Currently Relevant ESS8 is not relevant. The project will not finance any civil work construction. The technical activities supported by the project are not likely to have risks or impacts on cultural heritage. Public Disclosure ESS9 - Financial Intermediaries Not Currently Relevant ESS 9 is not currently relevant. B.2 Legal Operational Policies that Apply OP 7.50 Operations on International Waterways No OP 7.60 Operations in Disputed Areas No B.3 Other Salient Features Use of Borrower Framework In Part Indonesia Coral Bond will use the Indonesia Environment Fund's Environment and Social Management System (IEF ESMS), which has been supported by the World Bank through technical assistance for its system-building over the past three years. Any gap-filling measures, including procedures, code of conducts, approaches to certain activities, Standard Operating Procedures (SOPs), and templates, will be included in Project Operations Manual (POM). The Project, with support from the WB, will revisit the capacity of the clients during the project implementation. Use of Common Approach No It is a sole financing source. Nov 25, 2024 Page 9 of 11 The World Bank Indonesia Coral Bond (P181486) C. Overview of Required Environmental and Social Risk Management Activities C.1 What Borrower environmental and social analyses, instruments, plans and/or frameworks are planned or required by implementation? Action to be completed prior to Appraisal: • Preparation of an Environmental and Social Commitment Plan (ESCP) for the project. Action to be completed prior to Board Approval: • Preparation of draft Environment and Social Risks Management Section in the Project Operation Manual (POM), including at least identified: i) approach for E&S risks management for Technical Assistance activities; ii) Code of Conduct for Project Workers to promote respectful workplace behaviours, non-violent, and prevention of SEA/SH; iii) Grievance Redress Mechanism for Indonesia Coral Bond, iv) Process Framework, v) Indigenous People Planning Framework to enhance participation of adat communities, and vi) ESIRT Incident Reporting. III. CONTACT POINT Public Disclosure World Bank Task Team Leader: Ambroise Basile Irenee Brenier Title: Senior Natural Resources Management Specialist Email: abrenier@worldbank.org TTL Contact: Yadranka Farita Job Title: Natural Resources Mgmt. Spec. Email: yfarita@worldbank.org IV. FOR MORE INFORMATION CONTACT Nov 25, 2024 Page 10 of 11 The World Bank Indonesia Coral Bond (P181486) The World Bank 1818 H Street, NW Washington, D.C. 20433 Telephone: (202) 473-1000 Web: http://www.worldbank.org/projects V. APPROVAL Task Team Leader(s): Ambroise Basile Irenee Brenier, Yadranka Farita ADM Environmental Specialist: Feng Ji ADM Social Specialist: Naimah LNU Public Disclosure Nov 25, 2024 Page 11 of 11