Complaint > GEORGIA - Jvari-Khorga Interconnection

Compliance Report: Compliance Review Report

...financial information was then checked. An examination of JSL’s annual reports and corporate balance sheet showed the company to be in good financial shape, with the Client’s auditors’ only expressing concern regarding JSL Group’s purchase of a factory in the US, which left the company with significant but manageable debt having regard to its cash-flow position. JSL’s financial position was rechecked at the second stage of the tendering process. JSL is currently insolven...

Complaint > Wilmar Group-01/West Kalimantan

Compliance Review: President Zoellick's Response to Forest People's Programme regarding suspension of new IFC investments in palm oil, August 28, 2009

...financial institutions, civil society, and indigenous peoples' organizations. Possible areas of focus include: promotion of fair labor practices; promotion of best practices in land tenure/community consultation in association with leading palm oil producing firms; improvement of the enabling environment at the sub-regional level to encourage more widespread adoption of RSPO standards; promotion of RSPO to regional financial institutions; and promotion of ...

Complaint > Alex Dev-01/Wadi al-Qamar

Compliance Review: English

...financial intermediary investment. Compliance Investigation Process and Preliminary Timeline The preliminary time schedule is for CAO to have a draft compliance Investigation Report ready by May 2017. A draft Investigation Report will be circulated to IFC senior management and all relevant IFC departments for factual review and comment. IFC comments should be submitted in writing to CAO within 20 working days of receipt by IFC. Upon receiving comments from IFC on the consultation draft, CAO Comp...

Complaint > Vizhinjam-01/Kerala

Compliance Review: Terms of Reference for CAO compliance investigation, Vizhinjam - December 02, 2015

...financial intermediary would be of relevance in the context of CAO’s compliance mandate. The complaints CAO received three complaints about the project. The first complaint was filed in August 2012 by representatives of affected communities, and raised concerns about the design of the port project, its socio-economic and environmental impacts on tourism and fishing activities, and about IFC’s due diligence for the project and stakeholder consultation activities. The second complaint was filed in...

Complaint > Vizhinjam-02/Kerala

Compliance Review: Terms of Reference for CAO compliance investigation, Vizhinjam - December 02, 2015

...financial intermediary would be of relevance in the context of CAO’s compliance mandate. The complaints CAO received three complaints about the project. The first complaint was filed in August 2012 by representatives of affected communities, and raised concerns about the design of the port project, its socio-economic and environmental impacts on tourism and fishing activities, and about IFC’s due diligence for the project and stakeholder consultation activities. The second complaint was filed in...

Complaint > Vizhinjam-03/Kerala

Compliance Review: Terms of Reference for CAO compliance investigation, Vizhinjam - December 02, 2015

...financial intermediary would be of relevance in the context of CAO’s compliance mandate. The complaints CAO received three complaints about the project. The first complaint was filed in August 2012 by representatives of affected communities, and raised concerns about the design of the port project, its socio-economic and environmental impacts on tourism and fishing activities, and about IFC’s due diligence for the project and stakeholder consultation activities. The second complaint was filed in...

Complaint > GCF-EBRD Egypt Renewable Energy Financing Framework

Compliance Review: Compliance Appraisal Report 02

...financial intermediary. It is GCF’s ‘client’ for purposes of applying PS 1. The GCF’s interim ESS does not include specific policy requirements for clients that are financial intermediaries one step removed from site-level implementation of GCF-funded activities. However, the GCF’s commitment to ensuring that environmental and social risks of funded activities are identified, measured and mitigated based on IFC standards is only meaningfully realised if both EBRD and subproject sponsors’ ac...

Complaint > None

Policy Document: Terms of Reference

...Financial Intermediaries, which are vehicles or entities that provide debt to, make equity investments in, or provide financial services to eligible Sub-projects. FOIA: Freedom of Information Act.3 1 CHAPTER 103—BETTER UTILIZATION OF INVESTMENTS LEADING TO DEVELOPMENT 2 DFC Investment Policies 3 DFC Freedom of Information Act 3 Harm: Any material adverse environmental and social effect on people or the environment resulting directly or indirectly from a Project or Sub-Project. Harm may be...

Complaint > Vizhinjam-01/Kerala

Appraisal: CAO Compliance Appraisal Report of Vizhinjam 01 to 03, June 01, 2015

...financial review).  Phase II involved implementation, including Request for Proposal preparation, marketing, and bidding processes. The Financial Advisory Services Agreement (FASA – dated November 2009) between IFC and the client stated that IFC would assume overall oversight of the client’s consultants and that IFC-hired consultants would direct the development of the Environmental Impact Assessment (EIA) for the port, a requirement for the project to proceed under Indian law. In March...

Complaint > Vizhinjam-02/Kerala

Appraisal: CAO Compliance Appraisal Report of Vizhinjam 01 to 03, June 01, 2015

...financial review).  Phase II involved implementation, including Request for Proposal preparation, marketing, and bidding processes. The Financial Advisory Services Agreement (FASA – dated November 2009) between IFC and the client stated that IFC would assume overall oversight of the client’s consultants and that IFC-hired consultants would direct the development of the Environmental Impact Assessment (EIA) for the port, a requirement for the project to proceed under Indian law. In March...

Complaint > Vizhinjam-03/Kerala

Appraisal: CAO Compliance Appraisal Report of Vizhinjam 01 to 03, June 01, 2015

...financial review).  Phase II involved implementation, including Request for Proposal preparation, marketing, and bidding processes. The Financial Advisory Services Agreement (FASA – dated November 2009) between IFC and the client stated that IFC would assume overall oversight of the client’s consultants and that IFC-hired consultants would direct the development of the Environmental Impact Assessment (EIA) for the port, a requirement for the project to proceed under Indian law. In March...

Complaint > Promoting Economic Use of Customary Land and Grant No. 0392 (SAM): Samoa Agribusiness Support Project

Dispute Resolution: Summary of the Review and Assessment Report

...financial institutions will provide sub loans to eligible agribusinesses, with ADB funds providing cash collateral to secure up to 50% of such loans. ADB funding will also provide up to 25% of total subproject costs in repayable supplemental seed capital, provided as “quasi-equity” in a business, and can be used only if the business would then qualify for a loan. Commercial banks will then finance the remaining portion of the project according to their own standards. The financing component...

Complaint > Niger Delta Contractor Revolving Credit Facility-01/Niger Delta

Eligibility: Assessment Report, August 2001

...financial sector. The concept for a credit facility around oil contractors was first muted some three years ago and was discussed and consulted on for some two years before Board approval, though not with the direct involvement of IFC Lagos. IFC project preparation: The Facility was prepared in line with the procedures for a financial intermediary. As IFC has repeatedly stated the project preparation would appear to be in compliance and the categorization of the project would appear to be ...

Complaint > Real LRIF-01/Coban

Appraisal: English

...Financial Intermediary FMO Netherlands Development Finance Company FPIC Free, Prior and Informed Consultation IFC International Finance Corporation LRIF Latin Renewables Infrastructure Fund, LP MIGA Multilateral Investment Guarantee Agency PS Performance Standards (IFC) REAL Real Infrastructure Capital Partners, LLC SII Summary of Investment Information Compliance Appraisal Report – Real ...

Complaint > Accelerating Infrastructure Investment Facility in India - Tranche 1

Filing: Complaint

...Financial Services (IL&FS) – that has now been declared financially insolvent and bankrupt. Direct social harm as described by the workers are- 1. Unpaid back wages – Attached (Annexure – 1) 2. Receiving no formal appointment letters thereby having no legal privileges and/or contractual protections, - Attached Affidavits/ Legal Undertakings of Workers (Annexure – 2,3 & 4) 3. Widespread overtime violations and forced weekend work – Attached (Annexure – 1) ...

Complaint > India Infrastructure Fund-01/Dhenkanal District

Compliance Report: English

...Financial Intermediary Investments IFC classifies its investments in IDFC and the Fund as financial intermediary (FI) investments. As explained by IFC, a key purpose of its FI investments is to “strengthen domestic capital markets at a scale of enterprise that is smaller than would be possible through IFC direct investments” (Sustainability Policy (2006), para. 27). FI investments account for almost half of IFC’s new commitments each year. This business has grown rapidly in recent years and amou...

Complaint > Southeast Europe Equity Fund II

Filing: Complaint

...financial intermediary (FI). Working with FIs is a key way for the EBRD to promote sustainable financial markets and provide a vehicle to channel EBRD funding to the micro, small and medium-sized enterprise (SME) sector. They include, among others, private equity funds, banks, leasing companies, insurance companies and pension funds. [...] The PCM should review if the EBRD has identified and addressed the failure of the client to follow best labour practices and regulations in line with ES...

Complaint > Ficohsa-01/ CAO Vice President Request

Appraisal: CAO Compliance Appraisal of IFC investments in Banco Ficohsa - December 4, 2013

...Financial Intermediary (FI) client, (b) IFC’s approach to the assessment of the client’s capacity to manage and mitigate these risks; and, (c) the measures that IFC required of the client to ensure appropriate management of E&S risk. At appraisal, IFC is required to review “the business of its FI clients to identify activities where the FI could be exposed to social and environmental risk as a result of its investments.”8 IFC’s E&S requirements are expected to be “proportional to the level of po...

Complaint > CIFI-01/Hidro Santa Cruz

Appraisal: English

...Financial Intermediary HSC Hidro Santa Cruz, S.A. IFC International Finance Corporation NGO Non-Governmental Organization Norfund Norwegian Investment Fund for Developing Countries PS Performance Standards (IFC) SEMS Social and Environmental Management System SPI Summary of Proposed Investment CAO Compliance Appraisal Report, IFC Investment in CIFI – Hidro Santa Cruz, Guatemala 5 Overview of the Compliance Appraisal Process When CAO receives a complaint about an IFC or ...

Complaint > Southeast Europe Equity Fund II

Eligibility: Eligibility Assessment Report for CR

...financial intermediary (FI). Working with FIs is a key way for the EBRD to promote sustainable financial markets and provide a vehicle to channel EBRD funding to the micro, small and medium-sized enterprise (SME) sector. They include, among others, private equity funds, banks, leasing companies, insurance companies and pension funds. [...] The PCM should review if the EBRD has identified and addressed the failure of the client to follow best labor practices and regulations in line with ESP...