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The proposed IFC investment consists of a financing package of up to US$100 million to Desenvolve SP – Agência de Fomento do Estado de São Paulo S.A. (“Desenvolve SP” or “DSP”) to support its lending to private sector medium sized water and energy service companies (“WESCOs”) operating in the water, wastewater and solid waste sectors. The financing package will consist of an A-loan up US$75 million and would mobilize institutional investors to invest in an up to US$25 million B-Loan. The proceeds of IFC’s loan will be used as followed: (i) at least 75% will be used to finance WESCOs that enter into performance-based contracts (“PBCs”) under the Pinheiros River Clean-up program; and (ii) up to 25% will be used to finance small and medium-sized enterprises (“SMEs”) in the waste and water sector (the “Project”).
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ACCOUNTABILITY MECHANISM OF IFC/MIGA
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