THE SDG OUTCOMES FUND (EIB-20230829)

Regions
  • Africa
  • East Asia and Pacific
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
BRIDGES OUTCOMES LTD, UBS FUND MANAGEMENT (LUXEMBOURG) SA, UBS OPTIMUS FOUNDATION
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 18.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EIB website

Updated in EWS Sep 7, 2024

Disclosed by Bank Jul 22, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project concerns an equity participation in the Sustainable Development Goals (SDG) Outcomes Fund, an impact equity fund targeting investments in development and social outcomes-based mechanisms. This operation will support programme implementers, with the goal of delivering better tangible impact outcomes to those who need it the most, in support of the EU-Africa Global Gateway Investment package objectives.

The Fund will focus mainly on Regional Africa but will also target low-and middle-income countries in South and East Asia on an opportunistic basis. To this extent, the team will aim to allocate 70% of total invested amounts to eligible beneficiaries under the African, Caribbean and Pacific (ACP) Trust Fund representing more than c. 3x EIB commitment to the Fund.

The aim is to support the education, environment, employment and healthcare sectors in these regions, through the implementation of innovative results-based programs by (i) investing in economically or socially disadvantage communities by delivering better health, employment, and educational outcomes to those who need them the most, (ii) improving agriculture and/or ecosystems through delivering environmental outcomes, while (iii) unlocking investments from the private sector and other Multilateral Development Banks. Individuals benefiting from these programs include children and adults in or at-risk of extreme poverty, individuals at-risk of easily preventable illnesses, and young people lacking access to basic education and employment.

As a result, the Fund aims to contribute towards achieving the UN Sustainable Development Goals (SDGs) with a particular focus on SDG 1 (No poverty), SDG 3 (Good Health and Wellbeing), SDG 4 (Quality Education), SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), SDG 13 (Climate Action), SDG 14 (Life under Water) and SDG 15 (Life on Land).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

An equity participation in the Sustainable Development Goals (SDG) Outcomes Fund, an impact equity fund targeting investments in development and social outcomes-based mechanisms.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Bridges Outcomes Partnerships (BOP) is a not-for-profit social enterprise.

UBS Asset Management is a large scale investment manager. 

The UBS Optimus Foundation is a grantmaking foundation based in Switzerland. 

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - BRIDGES OUTCOMES PARTNERSHIP Client -
- - - - UBS Fund Management (Luxembourg) S.A. Client -
- - - - UBS OPTIMUS FOUNDATION Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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How it works