Complaint > Ficohsa-01/ CAO Vice President Request

Monitoring: English

...financial intermediary clients, and their exposure to high-risk subprojects. While IFC’s consultant reached broadly positive conclusions regarding the project’s social performance, the methodology employed did not provide sufficient evidence that IFC’s FI client had properly: a) applied IFC’s E&S requirements to Indura; or b) supervised PS compliance with regard to the issues raised in the Indura complaint. Upon review of available documentation, CAO concludes that IFC lacked sufficient evidence...

Complaint > Ficohsa-01/ CAO Vice President Request

Monitoring: English

...Financial Intermediaries (the FI Audit), published in February 2013.2 The systemic findings of the Ficohsa Investigation are thus addressed in CAO’s monitoring of the FI Audit.3 This monitoring report considers actions taken by IFC in response to the project level findings of the Ficohsa Investigation. Background 5. Between October and November 2011, IFC’s Asset Management Company made an equity and subordinated debt investme...