PE Security Inspections (IFC-600550)

Countries
  • Peru
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
Jun 26, 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
The Government of Peru
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 0.63 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 May 20, 2016


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Project Description
This project will introduce new criteria for assigning businesses inspections through the creation of a new risk matrix for disaster management. This matrix will allow a new classification of inspections, so that more human and financial capacities are intended to high and medium risk businesses. The reform will also assess the convenience of outsourcing the inspections system to the private sector, based on institutional and financial feasibility studies. After the optimal inspection model is agreed, the following reform components will be implemented: i) an adjustment of the regulatory framework, ii) Implement of IT tools, iii) Design of a training program for different actors, including servants and officials involved in the inspections system, helping them to fulfill their new roles, iv) Create operation manuals and new forms containing new procedures to reduce discretion between inspectors. The reform will also include the development of a pilot study that will assess the possibility of measuring the impact of the reform beyond the reduction of days and costs of inspections (i.e. by evaluating the effective reduction of security accidents after the reform was implemented). The stated goals are to improve Technical Security inspections, increase compliance, promote formality in existing business and to facilitate operation of new business, and reduce safety accidents. By introducing regulatory amendments to the current inspection procedure, it is expected to achieve cost savings for the private sector. This project will support 3 pilot municipalities in the implementation of the reform.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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/