Complaint > Ficohsa-01/ CAO Vice President Request

Compliance Report: English

...Financial Intermediary clients  Identification and management of E&S risks around Financial Intermediary clients.  Knowledge of IFC’s Performance Standards, as well as applicable Environmental and Social Review Procedures.  Experience and knowledge of compliance investigations.  Demonstrated ability to analyze policies and practices and develop proposals for reform in complex institutional contexts. ...

Complaint > Financial Intermediaries-01/CAO Vice President Request

Compliance Report: Audit of Sample IFC Investments in Third-Party Financial Intermediaries

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 > 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 > Bujagali Energy-04/Bujagali

Compliance Report: English

...financial support for the project.8 At the same time, several NGOs voiced opposition to the project and filed complaints with the Inspection Panel for the World Bank (IPN) and with CAO. This led to an IPN investigation,9 and a CAO assessment process.10 In 2003, citing financial difficulties, AESNP withdrew from the original project. As a result, GoU, with the assistance of the World Bank, initiated an international bidding process to identify a new private sector sponsor for the project. In 2005...

Complaint > Real LRIF-01/Coban

Compliance Report: English

...Financial Intermediary Investments With the objective of supporting sustainable capital market and financial sector development, IFC has developed a significant program of indirect investment through financial intermediaries (FIs). IFC’s investment in the Fund was an FI investment. Through these investments “IFC helps strengthen domestic capital and financial markets that support economic development at a scale of activity that is smaller than would be possible through direct FI investments.” 16...

Complaint > Amaggi Expansion-01/IFC Executive Vice President Request

Compliance Report: English

...financial intermediary client’s on-lending activities10. Amaggi’s Environmental Management System includes 13 management programs, dealing with aspects such as: the legal and regulatory framework; worker health and safety; occupational health; and environmental evaluation. One of these management programs specified requirements for the environmental orientation of pre-financed suppliers. This addressed aspects such as: conducting technical inspections of pre-financed suppliers; training of pre-f...

Complaint > Quellaveco Mining-01/Moquegua

Compliance Report: English

...Financial Intermediary (FI) – may include financing a variety of subprojects that may result in environmental impacts, thus requiring environmental review by the financial intermediary, in 17 accordance with this IFC procedure. While the definition of each category has been developed with new iterations of IFC’s environmental and social policy, the core categories have not changed significantly since they were first defined (see A...

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 managemen...

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 according to the...

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 resettlemen...

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 > Eco Oro-01/Bucaramanga

Compliance Report: English

...financial intermediary projects with minimal or no adverse risks.74 Discussion IFC’s investment in the Angostura project is similar to many other IFC early equity investments in junior mining companies. As discussed above in section 3.1, IFC’s early equity approach evaluates the opportunity to provide equity financing once a potentially commercial discovery has been made, to give support to companies to build their capacity to prepare for mine construction.75 Before investing in the project, IFC...

Complaint > DRC High Priority Roads Reopening and Maintenance (2nd Additional Financing)

Compliance Report: Inspection Panel Investigation Report(English)

...financial institutions, bilateral donors and governments, including 30-plus safeguard documents for the World Bank, the International Finance Corporation and other multilateral financial institutions. Over the years, he had completed more than 20 assignments in the DRC, assisted the Compliance Advisor Ombudsman and other compliance mechanisms, and is presently supporting the Uganda National Roads Authority in the 125 update of its safeguard sy...

Complaint > Second Urban Environment Sanitation Project

Compliance Report: 49-Investigation Report (English)

...financial assistance, of extreme financial situations, dying equipment, and inadequate financial margins to replace it, reportedly due in part to management practices. The Implementation Completion Report (ICR) of UESP I states that one of the objectives of the Project was “[p]rivate sector development, by promoting the contracting out of various waste collection and sanitation services;” (ICR, p. 2). It further indicated that the rate of refuse collection in Accra did not increase significantly...

Complaint > National Drainage Program Project

Compliance Report: 34-Investigation Report (English)

...financial values of the relevant contracts. The Mission Report listed actual expenditure cost of investments in Sindh Province on “New schemes, Off farm drainage, On farm drainage and Modernization of Canals ” as Rs. 2722.91 million. See Aide Memoire, p. 5 and Annex D. Some of the works are l isted as ongoing and/or partially completed (tubewells; rehabilitation of drainage systems). See Aide Memoire, pp. 18-19. The NDP Project also took actions relating to the Chotiari project (see Chapter 3). ...

Complaint > West African Gas Pipeline Project

Compliance Report: 40-Investigation Report (English)

...financial intermediary). Depending on the project, a range of EA instruments may be used, including an EIA, regional or sectoral EA, environmental audit, or others.365 324. For Category A projects, the Borrower is required to consult affected groups and NGOs at least twice in order to address EA-related issues that may affect them. The Borrower must provide relevant material, such as draft EAs, before consultation “in a form and la...

Complaint > Mundra Ultra Mega Power Project

Compliance Report: Final Report in English and in Gujarati [PDF]

...financial intermediary. All restricted to Loan 2419, the findings opposite cannot be 112 findings regarding noncompliance and related harm under supported under the AM Policy. The CRP should reconsider Loan 2419 would also be applicable to such on lending which the inclusion of paragraph 19 (and accordingly, paragraph 3), A...