Apurimac Revenue Management (IFC-600268)

Countries
  • Peru
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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 2, 2015
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
U
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 4.70 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)
$ 4.70 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 16, 2017

Disclosed by Bank Jul 20, 2016


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

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.
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