This project provides financing to Agricover Credit IFN for funding long-term investments proposed by small and medium-sized enterprises (SMEs) engaged in agribusiness in Romania, including small-scale climate energy efficiency and renewable energy projects.
According to Bank documents, IFN’s majority shareholder is Agricover Holding SA owning 99.99% of the Company. Agricover Holding SA is 87.27% owned by Mr. Jabbar Kanani, a Romanian citizen of Iranian origin, whereas 12.72% is owned by the EBRD. Remaining 0.0004% stake represents minority shareholders.
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/