InfraV-Gaia (IFC-40841)

Regions
  • Africa
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
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
*Borrower information not provided at the time of disclosure*
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 27, 2019

Disclosed by Bank Oct 3, 2018


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Project Description

IFC will provide investment in the form of: (i) US$ 3 million through its InfraVentures facility and, (ii) up to US$ 3 million co-investment in its capacity as implementing entity of the Finland-IFC Blended Finance for Climate Programme, to co-develop with Gaia Energy, a Moroccan renewable energy developer, a joint platform for the development of wind power and other renewable energy projects in Africa.  The new joint platform will start with a pipeline of 22 sub-projects in nine countries in North, West and East Africa, representing a pipeline under development of more than 3 gigawatts. Originally developed by Gaia Energy, this pipeline will be progressively enlarged to new countries across the continent.

Key Environmental & Social risks include: land acquisition/resettlement; construction phase occupational health & safety and labor management; land use conversion and associated biodiversity risks; bird/bat collision risk during operations (including cumulative risks); and noise and shadow flicker impacts during operations.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

*Contact information not 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/