Xekaman (IFC-47717)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Laos
Geographic location where the impacts of the investment may be experienced.
Specific Location
Pleiku, Xekaman River (Xanmind, Attapeu), Nam Pagnou River (Dak Cheung, Sekong)
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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."
Voting Date
Jun 28, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Xekaman 1 Power Company Limited, Xekaman 3 Power Company Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 90.00 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.
Loan Amount (USD)
$ 90.00 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.
Project Cost (USD)
$ 400.00 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 3, 2024

Disclosed by Bank Apr 20, 2023

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.

As stated by the IFC, Xekaman 1 Power Company Limited and Xekaman 3 Power Company Limited operate three existing hydroelectric projects in Lao People’s Democratic Republic. The Companies are the subsidiaries of Viet Lao Power Joint Stock Company, a Vietnam based company. The proposed refinancing by IFC for these projects includes a senior, secured A loan of up to US$ 90 million and mobilization of up to US$ 50 million from the Managed Co-Lending Portfolio Program as part of the package to refinance the existing loans of the Companies.

As of November 3, 2024, the project disclosure does not appear anymore on the IFC's website, indicating the project might have been dropped or canceled.

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

IFC proposes to provide up to US$ 90 million in the form of senior, secured A loan and mobilize up to US$ 50 million from the Managed Co-Lending Portfolio Program.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, Viet Lao Power Joint Stock Company was incorporated in 2003 as a Vietnamese company with a mandate to develop Built – Operate - Transfer power projects in Lao PDR for the export of electricity to Vietnam.
Viet Lao Power Joint Stock Company owns 100% shareholding in XKM 1 and 85% shareholding in XKM 3. The remaining 15% shareholding in XKM 3 is owned by Electricite du Laos.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Viet Lao Power Joint Stock Company Client Hydropower

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.

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Borrower - Viet Lao Power Joint Stock Company:

Mr. Phung Minh Cha - Chief Executive Officer
Phone: +(84-4) 3854 8672
Email: phungminhcha@gmail.com
Address: 9th Floor Tower B, HH4 Building, Pham Hung Street, Me Tri, - Nam Tu Liem, Hanoi, Vietnam
Website: https://vietlaopower.com/ 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

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

How it works

How it works