Complaint > Financial Intermediary (FI)-01/Aguan Valley

Eligibility: CAO Assessment Report Regarding concerns in relation to Financial Intermediary (FI), Honduras (Project of IFC), March 2015

...Financial Intermediary (FI), Honduras (Project of IFC) March 2015 Office of the Compliance Advisor Ombudsman for the International Finance Corporation and Multilateral Investment Guarantee Agency www.cao-ombudsman.org About the CAO The Office of the Compliance Advisor Ombudsman (CAO) is the independent accountability mechanism for the International Finance Corporation (IFC) and the Multilateral Investment Guarant...

Complaint > Bayport Colombia: Financial Inclusion for BOP Public Employees

Eligibility: Eligibility Memorandum Public Disclosure

...Financial Inclusion for Base of the Pyramid Public Employees” (loan CO-L1147) is a non-sovereign guaranteed A/B loan operation of the Opportunities for the Majority program of the Inter-American Development Bank (IDB or “the Bank”). The IDB’s Board of Executive Directors approved the loan on 9 July 2014 for an amount of up to US$50 million, to be granted to Bayport Colombia S.A.S., a nonbank financial intermediary (financial institution), in the form ...

Complaint > Second Rural Enterprise Support Project

Eligibility: 89-Eligibility Report and Recommendation (English)

...Financial Intermediary Lending Policy (OP/BP 8.30). 10. The implementing agency for the Project is the Rural Restructuring Agency. The Financing Agreement requires the Government to ensure that Participating Financial Institutions, Micro-Finance Institutions, and Lease Companies, which are financial intermediaries in this Project, base each sub-financing agreement on terms and conditions set in the “Rural Enterprise Investment Guidelines.” The Financing Agr...

Complaint > GEORGIA - Jvari-Khorga Interconnection

Eligibility: Eligibility Assessment Report

...financial difficulties faced by the Contractor. Reportedly, other employees as well as Georgian sub-contractors experienced late or missing salaries/payments. • The Contractor stated in a communication to EnergoTrans dated 22 May 2017 that the dispute between the Contractor and the Complainant in relation to the termination of the Complainant’s appointment (including the payment of the outstanding salary) is expect...

Complaint > Agroinvestbank Equity Investment

Eligibility: Eligibility Assessment Report

...financial difficulties as a result of growing non-performing loans and in response to that, the EBRD undertook efforts to provide crisis management support to Agroinvestbank. 19. The response explains that the EBRD’s direct involvement in Agroinvestbank diminished in mid-2012. From that time on the EBRD has been monitoring the activity of its Client based on limited financial reports and meetings with the management of Agroinvestbank. All the given circumstances presente...

Complaint > India Infrastructure Fund-01/Dhenkanal District

Eligibility: English

...financial intermediaries, what environmental and social policies govern those investments, and a lack of transparency around IFC’s investments in the sector. A summary of issues is presented in Section 3, and the complaint is posted on CAO’s website. 3. CAO’s Assessment 3.1 Assessment approach The purpose of CAO’s assessment is to clarify the issues and concerns raised by the complainants, to gather information on how other stakeholders see the situation, and to confirm whether the complainants ...

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 correc...

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

Eligibility: Summary of the Review and Assessment Report , 24 Mar 2015

...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 will...

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 ESP2008 a...

Complaint > Private Sector Development and Competitiveness Project, First Request

Eligibility: 54-Third and Final Eligibility Report (English)

...financial support of the World Bank.” Requests, Responses, Panel Reports and all related documents, are available at: http://web.worldbank.org/WBSITE/EXTERNAL/EXTINSPECTIONPANEL/0,,contentMDK:22512113~p agePK:64129751~piPK:64128378~theSitePK:380794,00.html 2 Mr. Bidimu Kamunga, resident of Likasi, submitted the Request acting as President of the “Collectif des Ex-agents Gécamines ODV” (the Collective of former Gécamines employees participating in the Voluntary Departures Operation – also refer...

Complaint > CIFI-01/Hidro Santa Cruz

Eligibility: CAO Assessment Report CIFI - May 18_2016 - English

...financial institution to provide financing to small and medium infrastructure projects across Latin America and the Caribbean. IFC’s investment is for the implementation of CIFI’s business plan, including expected asset growth and operational consolidation, as well as potential access to long-term funding through the international capital markets. CIFI has indicated that as part of its projects portfolio they granted a credit facility to Hydro Santa Cruz, S.A. (HSC), a legally constituted busine...

Complaint > Rizal Commercial Banking Corporation (RCBC)-01

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

...financial products and services, including commercial and retail banking, credit cards, asset management, and treasury and investment banking products and services. IFC’s investments aim at supporting RCBC’s growth in the areas of micro-finance, small and medium-sized enterprises, and retail banking, as part of IFC’s strategy to support the Philippine financial markets through investments in local financial institutions that play a key role in providing access to finance to underserved sectors. ...

Complaint > None

Eligibility: DOC.R60-16: Chair's Summary of the Board Compliance Review Committee and CRP's Eligibility Report (with Management's Response) [PDF]

...financial institutions lend to eligible sub borrowers for first time loans and up to 30 percent for second time loans. This supplemental injection of cash is intended to improve the sub borrowers’ equity position so that it would be eligible for a loan from the financial institutions. During the CRP’s interviews, the responsible implementing agency categorically stated that no leases of customary land would be used as collateral for any loan or financial facility extended under the SABS project....

Complaint > Altain Khuder debt & equity

Eligibility: Eligibility Assessment Report

...Financial Reporting Standards) financials in the iron ore sector in Mongolia; 5) Introduce the first internationally audited iron ore reserves in accordance with JORC (Joint Ore Reserves Committee) reserves standards; and 6) Introduce an advanced mine management software. The Project was expected to have a significant demonstration effect on other producers. Throughout the financing, the Bank intended to continue supporting Altain ...

Complaint > Yanacocha-02/Cajamarca

Eligibility: Report of the Independent Evaluation of the Mesa de dialogo y consenso CAO-Cajamarca, May 2005

...financial and technical support of the CAO. Within this framework, the Team: a) assessed the structure, organization, and operational behavior of the Mesa, including the conduct of its Board of Directors and General Assemblies b) reviewed the performance of the Mesa in light of its stated mission and strategies and the specific objectives contained in its annual work programs, with particular emphasis on the objectives of preventing and resol...

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 > 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 > 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 > 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 > 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 environmental as...