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Financial Intermediaries-01/CAO Vice President Request
Issues
Consultation and disclosure
Description: Complaint raises concerns regarding inadequate or absent consultation about or disclosure of project information, including project impacts and/or mitigation plans.
Complaints with this Issue: 525
Sectors
Project
Name: Financial Intermediaries-01/CAO Vice President Request
Investments: IFC
Client:
Support: Financial intermediary
Country: World
Complaint
IAM: Compliance Advisor/Ombudsman (CAO)
ID: None
Date Filed: April 1, 2011
Status: Monitoring
Description
In 2011, the CAO VP initiated a compliance appraisal of IFC’s financial sector investments. CAO analysis had indicated that IFC’s less visible activities in the financial sector are a risk for IFC since their funding potentially causes environmental and/or social (E&S) harm. CAO identified 844 separate financial sector investments and reviewed their respective Board Papers. CAO then refined the sample and audited 188 investments related to 63 clients.
Complaint Stages
Filing
April 1, 2011
Filing
Status:
Start Date: April 1, 2011
Registration
Not Undertaken
Registration
Status: Not Undertaken
Explanation: Not offered by mechanism, Stage is not practiced by mechanism
Eligibility
June 14, 2011 -
June 27, 2011
Eligibility
Status: Closed With Output
Start Date: June 14, 2011
End Date: June 27, 2011
Dispute Resolution
Not Undertaken
Dispute Resolution
Status: Not Undertaken
Explanation: Not offered by mechanism, Dispute resolution was not an option in this case
Compliance Review
June 27, 2011 -
Sept. 4, 2013
Compliance Review
Status: Closed With Output
Start Date: June 27, 2011
End Date: Sept. 4, 2013
Has Compliance Report: Yes
Non-Compliance Found: Yes
Monitoring
Sept. 4, 2013
Monitoring
Status: In Progress
Start Date: Sept. 4, 2013
Closed
Not Closed
Timeline
Documents
| Name | Category | Description |
|---|---|---|
| Audit of Sample IFC Investments in Third-Party Financial Intermediaries | Compliance Report | |
| IFC Response | Management Response | |
| Third Monitoring Report | Monitoring |
Involved Groups
| Name | Complaints | Group Type |
|---|---|---|
| Bretton Woods Project | 2 | International CSO |
| CAO Vice President | 6 | Other |
| Other | 3 | International CSO |
Commitments