Apurimac Revenue Management (IFC-600268)

Countries
  • Peru
Where the impacts of the investment may be experienced.
Specific Location
Apurimac
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
Approved
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
Jun 2, 2015
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.
Borrower
U
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 4.70 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 4.70 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 Aug 16, 2017

Disclosed by Bank Jul 20, 2016


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Project Description
According to IFC, the project will work in Apurimac with municipalities and local leaders so that they can take advantage of the opportunities brought about by mining companies working in the region. They will also be better prepared to respond to the needs and challenges that may arise from the mining by effectively and responsibly investing the royalties they will receive. The aim of the project is to help municipalities improve their governance and empower local leaders so that they can effectively invest the royalties in their communities. The idea is to provide them with a framework so that their discussions are around the needs, challenges and opportunities that mining brings to their localities. Finally, these tools will set the ground for a real transformation triggered by the presence of mining companies in the region. The project design has been structured around governance improvement responding to the following 3 aspects: - Responsiveness: Municipalities deliver services consistent with citizen needs and priorities, reacting to impacts and opportunities generated by the presence of mining. - Responsibility: Municipalities manage their budget effectively in terms of cost and time, improving their practices to manage resources. - Accountability: Mayors implement social accountability actions which are driven by; their understanding of the benefits of transparency and the demand of the civil society . The project builds on the effort, experience, methodologies, and lessons learnt from the Municipal Royalty Investment (MRI) and the Improving Municipal Investment (MIM Peru) projects.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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/