STEP Egypt (IFC-600329)

Countries
  • Egypt
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
Active
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
Jul 14, 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.
Sectors
  • Energy
  • Industry and Trade
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 2.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2015-07-14 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 24, 2017

Disclosed by Bank Nov 17, 2015


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Project Description
This project aims to improve the Egyptian energy-sector business and regulatory environment. It provides technical cooperation to the Egyptian Ministry of Trade regarding regulation in the energy sector, and also advises companies and promotes energy-efficient technology manufacturing equipment.
People Affected By This Project
The objective of this project is to strengthen the Ministry of Trade, Industry, & SMEs implementation capacity to encourage energy efficient practices in industries by establishing an energy efficiency standards & labelling program for industrial electric motors to catalyze uptake in the sector. The project will also support increasing access to clean technologies through policies to encourage the development of local manufacturing and services for clean technologies. This project will aim to achieve the following outcomes: - Development of minimum energy performance standards for energy efficient (EE) motors, - Development of labelling system for EE motors, - Development of a monitoring verification & enforcement mechanism, - Improve policies and regulatory framework to encourage investment in clean technologies, - Policies enacted that support clean technology adoption. The project will result in the following impacts: - GHG emissions avoided - Reduction in energy use by industries - Private sector savings - Increased investment in clean technology manufacturing and services
Investment Description
  • International Finance Corporation (IFC)
Contact Information
*no contact information provided* 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/