Complaint > Wilmar Group-01/West Kalimantan

Compliance Report: English

...financial intermediary projects. 2 http://www.ifc.org/ 9 Audit Report C - I - R6 - Y08 – F096 Environmental Assessment, and related action plans to address potential impacts; and assessments and actions related to provisions given for land acquisition and involuntary resettlement, for biodiversity conservation and sustainable natural resource...

Complaint > Transitional Support for Economic Recovery Credit and Emergency Economic and Social Reunification Support Project

Filing: 37-Request for Inspection Annex 25

...intermediary for financial services. Recommendation 14 (a) In the interpretation of this requirement, special attention is required not only to transactions between financial institutions and their clients, but also to transactions and/or shipments especially of currency and equivalent instruments between financial institutions themselves or even to transactions within financial groups. As the wording of Recommendation 14 suggests that indeed "all" transactions are covered, it must be read t...

Complaint > Cartagena Water Supply, Sewerage and Environmental Management Project

Eligibility: 31-Management Report and Recommendation (English)

...Financial Management - Project financial and accounting statements - Financial management assessment – ACUACAR In compliance - Financial capacity – ACUACAR - Risk of default on the Bank Loan Not in compliance - Financial management assessment for the District OP/BP 10.04 – Economic Evaluation of Investment Operations In compliance - Economic analysis broadly in compliance - Re...

Complaint > Rizal Commercial Banking Corporation (RCBC)-01

Eligibility: CAO Assessment Report - Philippines/ RCBC-01 - April 2019 - Filipino

...financial intermediary portfolio nito; ang pagsubaybay at pamamahala nito sa pagganap ng RCBC sa usaping pangkapaligiran at panlipunan, lalo na’t may pamumuhunan ito sa mga negosyong may potensyal na magdulot ng malalaki at masasamang epekto sa kapaligiran at lipunan, o kaya ay mga epekto na kakaiba (diverse), hindi na maibabalik (irreversible), at hindi pa nangyayari kailanman (unprecedented), katulad ng pamumuhunan sa sektor ng coal; at sa pagsunod sa sarili nitong mga polisiya at patakaran na...

Complaint > Agrokasa-01/Ica

Compliance Report: CAO Audit of IFC Investments in Agribusiness in the Ica Valley, Peru, February 22, 2011

...financial intermediary projects.” 10 Audit Report C - I – R9 – Y10 – F126 water issues were raised by the Corporate Investment Committee.4 The IFC Agribusiness Department (CAG) concluded that for the Ica Valley farms, water supply to Agrokasa was adequate and was expected to remain so in the future without relying on new wells to be drilled. This investment in Agrokasa was reviewed accordin...

Complaint > Community Empowerment for Rural Development Project

Dispute Resolution: Review and Assessment Report (RAR) (English)

...financial management of the early CERDP activities, trust and confidence of villagers in their local governments seem eroded in a number of cases. It is not clear, whether frictions and disputes among individuals are rooted in project-related issues, or evolved out of other concerns. Open discussions seem to be rather the exception than the rule in village level disputes. It is generally agreed among government, consultants, IRM and communities that capacity-building for decentralized devel...

Complaint > Eleme Fertilizer II-02/Port Harcourt

Eligibility: CAO Assessment Report

...intermediary entity. Furthermore, the complainants expressed dissatisfaction with the inclusion of benefits such as housing, transport, dry rations, and overtime in their salary slips. They highlighted the discrepancy between these benefits, particularly overtime, and Nigerian tax laws, which according to the complainants, stipulate non-taxable status for such allowances. However, they expressed that amalgamating these benefits into their monthly salaries subjects them to higher taxation r...

Complaint > None

Policy Document: Guidelines for Addressing Risk of Reprisals in Complaint Management

...financial institutions and their model of financing sustainable development. 1.3 Since 2018, MICI has seen a rise in cases where confidentiality was requested due to fear of reprisals or acts of intimidation in communities opposed to development initiatives. In response to this sensitive situation, MICI commissioned the preparation of a practical guide for accountability mechanisms to assess the potential risk level of a mechanism’s intervention, as well as the multiple ways to prevent, ...

Complaint > Interagua-01/Guayaquil

Filing: English Part 2

...financial aspect, the Masterplan omits explaining how they plan to recover the investment in works of infrastructure. The plans estimate current costs of all the works to be constructed and the document includes an interest rate of 9%, designed to show the effects of inflation on 23 investment values. This rate is not realistic. It gives the impression that Interagua has planned for more substantial investments than they will really accomplis...

Complaint > Quilleco Hydropower Project

Filing: 67-Request for Inspection (English)

...financial interests. The July 2002 claim indeed was investigated regardless of the abrupt selling of the equity days after receiving the claim. There is clearly an ongoing, global responsibility, by part of the IFC and other members of the WB Group, for what happens with the watershed, particularly hydroelectric development on its course, and its impact on the environments and local communities, among them the Mapuche-Pehuenche population communities and individuals. This...

Complaint > Vishnugad Pipalkoti Hydro Electric Project

Eligibility: Inspection Panel Report and Recommendation (English)

...financial support to the Project given their concerns, and request the Inspection Panel to “inspect this loan.” D. The Management Response 26. A summary of Management Response follows, and a complete copy is attached to this Report as Annex II. 27. Management states that the Government of India requested the World Bank to finance the Project, a “relatively moderate risk project from an environmental and social perspective”, in July 2006. According to Management, the Project involves a “low level...

Complaint > Private Sector Development and Competitiveness Project (First Request)

Management Action Plan: 54-Second Management Progress Report (English)

...financial resources to support the reform of SOEs, (iii) lack of communication from stakeholders involved in the reform process, (iv) limited understanding on the part of labor unions on several key aspects of the reform. Labor unions often do not consider the broader economic implications of reforming an enterprise and are primarily motivated by short financial incentives. During the workshop, it was agreed that the social liabilities of reforming SO...

Complaint > Yacyreta Hydroelectric Project

Eligibility: Additional Review (English)

...financial obligations or mortgages (gravamen hpotecario) that will affect them for 30 years. Response: We agree that property titles unencumbered by mortgages should be issued in those cases to which exceptions to the free resettlement policy (see third paragraph of page 1 above) do not apply. In addition, ail debts arising in contravention of that policy should be annulled and EBY should take steps to reimburse relocatees for debt payments collected in contravention of that policy. ...

Complaint > Ficohsa-01/ CAO Vice President Request

Compliance Report: Spanish

...Financial Intermediaries, p.38. 64 IFC, ESRP (versión 4), agosto de 2009, párrafo 7.2.19. 65 Ibid. 66 IFC, ESRP 7 (versión 4), párrafo 2.19 67 CAO (2012) Audit of a Sample of IFC Investments in Third Party Financial Intermediaries, p.38f. 68 IFC, ESRP (versión 4), agosto de 2009, párrafo 7.2.18. 31 Informe de investigación de la CAO C-I-R9-Y13-F190 IFC no cumplió los req...

Complaint > Proposed Kosovo Power Project and Second Additional Financing Energy Sector Clean-up and Land Reclamation Project

Compliance Report: 103-Inspection Panel Investigation Report(English)

...financial intermediary operations and the more comprehensive RAP is intended for discrete infrastructure projects. 148 It argues the KPP is a single project at a single site with a single concessionaire and requires a full RAP before appraisal and “not the Kosovo RPF and with the Shala RAP as an example that should be used for the displacement of thousands of future Kosovars.” 149 136. The Annex contends the Bank has overestimated the institutional capacities of those responsible for reset...

Complaint > Clean Energy and Network Efficiency Improvement Project

Closing Report: Closure Report

...FINANCIAL REEVALUATION General 1. The financial reevaluation of the Clean Energy and Network Efficiency Improvement Project (project) was performed to reassess and validate the financial sustainability of the project for the executing agencies, upon project completion. The financial reevaluation was conducted using the guidelines for financial analysis and evaluation of projects of the Asian Development Bank (ADB).1 2. Yearly net cash flows generated by the project outputs were estimat...

Complaint > PT Weda Bay Nickel-01/Weda Bay

Eligibility: Ombudsman Assessment Report: Complaint Regarding the MIGA PT Weda Bay Nickel Project (#8113), Halmahera Island, North Maluku, Indonesia, June 2011

...financial and operational success of the WBN project  Maximizing development outcomes and benefits for Indonesia and the local community  Ensuring project compliance with MIGA standards and policies 4.2 Summary of Issues Based on the original complaint and further stakeholder discussions undertaken as part of the CAO Assessment, the primary topics and issues that would need to be addressed to resolve the complaint are summarized below5: 1. WBN social and environme...

Complaint > South-West Roads: Western Europe-Western China International Transit Corridor (CAREC-1b & 6b) - 1st request

Management Response: 66-Management Response (English)

...financial and construction sectors. The economic crisis in Kazakhstan began with sharp declines in real estate prices from late 2007. A strengthening of oil and other commodity export prices in the second half of 2009 has contributed to a stabilization of the overall financial position. In 2009 Kazakhstan needed strong capital inflows to compensate for substantial outflows associated with foreign debt payment obligations. This was offset partly by increased oil and gas exports and partly by...

Complaint > Vizhinjam-01/Kerala

Compliance Report: CAO Compliance Investigation Report, Vizhinjam 01, 02 & 03 - January 23, 2018

...financial intermediary, would be of relevance in the context of CAO’s compliance mandate.17 In the course of this compliance investigation, CAO requested from IFC information in relation to possible IFC exposure to the port construction through investments in banks and funds. IFC did not provide requested information in relation to these issues. As a result, CAO does not further explore this issue as part of the compliance investigation. CAO’s investigation considers the port project as it was c...

Complaint > Chad-Cameroon Pipeline-03/Doba

Filing: Complaint from Local Inhabitants and Communities in the Chad Project Area, October 10, 2011

...financial involvement, the political and moral seal of approval of the World Bank Group was more than critical for the development of Doba crude and the outlook for the development of other oil basins in which it became involved during the life of the project (Section 4.10, Loan Agreement of March 29, 2001). According to the project appraisal document for the capacity-building project, the value-added of the World Bank Group’s support consisted of the physical execution of the Doba petroleu...