Complaint > Real LRIF-01/Coban

Monitoring: English

...Financial Intermediaries,8 IFC has strengthened their internal procedures for appraising and supervising financial intermediary investments. Regarding private equity funds, in its response to CAO’s investigation report, IFC noted improvements it has made regarding fund selection, disclosure and supervision of fund subprojects, legal requirements for E&S non-compliance, and contextual risk analysis. However, IFC’s response did not commit to take any action with its client regarding project level ...

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 > 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 > Real LRIF-01/Coban

Management Response: English

...Financial Intermediaries ("Fis"), which in this case involves IFC investing as a Limited Partner ("LP") investor in a fund. While we appreciate CAO's observations, it is worthnoting that the Environmental and Social Due Diligence (ESDD) review framework applied to this Project is the most rigorous under IFC's procedures and is considered best practice in the investor community - going well beyond any existing market approach today. IFC recognizes the challenges associated with doing business in ...