Original disclosure @ IFC website
Updated in EWS Jul 5, 2019
Disclosed by Bank May 10, 2019
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According to the Bank's website, this project invests in two green bonds to be issued by ProCredit. Proceeds of the bonds will be used for green financing activities that focus on energy efficiency, renewable energy, and environmentally-friendly measures.
This project is categorised as FI-2; a medium-risk financial institution investment.
The Project will increase access to climate finance for SMEs in the ProCredit group's countries of operation and support the transition of the countries in the regions in which PCH operates from high to low carbon economies.
Environmental impact - The project will provide financing mainly for energy efficient measures, renewable energy and other environmentally friendly measures
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
ProCredit Holding AG & Co. KGaA
+49 (0)69 951 437 160
ProCredit Holding AG & Co. KGaARohmerplatz 33 - 3760486 Frankfurt am Main, Germany
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/