Pacific Tuna (IFC-597367)

Countries
  • Solomon Islands
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
Completed
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.
Voting Date
Apr 23, 2014
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Industry and Trade
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Project Cost (USD)
$ 1.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 15, 2021

Disclosed by Bank Aug 5, 2015


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Project Description

According to the bank's website, "In this project, IFC will work with tuna processor Soltuna to address issues in supply, training and retention of labor, specifically of women, who make up 2/3 of the Soltuna labor force. Soltuna, based at Noro in Solomon Islands Western Province, is Solomon Islands sole tuna processing facility and employs 1500 people, making it one of the countrys largest private sector employers. IFC has invested $10 million in Soltuna, which is owned by Trimarine, one of the worlds leading tuna suppliers, and entities of the Government of the Solomon Islands. IFC is also supporting the Government of the Solomon Islands to identify opportunities for improving management of fisheries sector revenues and encouraging further private sector investment in the fisheries sector in Solomon Islands."

Investment Description
  • International Finance Corporation (IFC)
Contact Information

No contact information provided at 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/