M Free Zone (IFC-600598)

Regions
  • Africa
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
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
Sep 8, 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
(Not Provided at the time of disclosure)
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 0.90 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 Jan 4, 2018

Disclosed by Bank Jul 5, 2016


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Project Description
The project will assist the Government, the Free Zone Authority and the fisheries cluster leverage dialogue channels with key local stakeholders to promote a technology-driven low-carbon eco-efficient Zone through a set of regulatory and technical measures. Emphasis will likewise be placed on prioritizing eco-efficient practices among firms, and support given to attract clean tech investments.The project aims to achieve increased eco-efficiency and private sector competitiveness in the fisheries sector within the Free Zones. It will do so by strengthening the enabling environment via the introduction of adequate sustainability standards, leverage appropriate technology interventions to improve energy and resource efficiency, and build capacity among firms and the Free Zone Authority to increase the local fisheries sectors competitiveness.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Contact details not provided at the 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/