FCS RE CIPREL V (IFC-39096)

Countries
  • Ivory Coast
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
A
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
ATINKOU S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 135.70 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.
Currency conversion note:
Bank reported EUR 120m
Converted using 2019-03-26 exchange rate.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 26, 2019

Disclosed by Bank Mar 13, 2019

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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.

The proposed CIPREL 5 Independent Power Project (“the project” or “the CIPREL 5 project”) is being developed by Atinkou S.A. (“Atinkou” or “the Company”), a Special Purpose Vehicle owned by Eranove, a leading industrial group that manages and provides technical oversight to its subsidiaries in Côte d'Ivoire and Senegal. The project consists in the construction and operation of a natural gas-fired power plant near Abidjan, Côte d’Ivoire. The Project is designed as a 390 MW combined cycle to be built on a new site located approximately 50 km west from Abidjan and will be constructed and operated under a 20-year Build-Own-Operate-Transfer (“BOOT”) concession agreement. The proposed IFC investment includes an IFC A loan and client risk management instruments (interest rate hedging) for an aggregate amount of up to EUR [120] million. In addition, IFC will be mobilizing the remaining balance of the required debt amount for the project.

 

 

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

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 contact information provided at the time of disclosure

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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