Myanmar Hydro (IFC-600637)

Countries
  • Myanmar
Geographic location 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
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
Dec 15, 2016
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
Government of the Republic Union of Myanmar
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 2.80 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 Sep 16, 2019

Disclosed by Bank Jan 6, 2017

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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 website, the Myanmar Hydro is comprised of the following project components:
Component 1: Improve and ensure implementation of regulatory frameworks for the hydro sector to promote implementation of good international industry practice in E&S standards.
Component 2: Enable adoption of good industry practice E&S standards by hydropower companies investing in, and developing, hydropower.
Component 3: Raising public awareness and developing thought leadership and communications on the values of E&S sustainability standards in the hydropower sector.

The overall goal of the program is to increase the share of new private sector investments in the Lao hydro sector that adhere to good international industry practice environmental and social standards by 2020.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The overall goal of the program is to increase the share of new private sector investments in the Lao hydro sector that adhere to good international industry practice environmental and social standards by 2020. This will be accomplished through an integrated programmatic approach by partnering with the Government of Myanmar (GOM), hydropower companies, regional banks and civil society organisations. Specifically:

a. GOM will have improved the regulatory environment for the hydropower sector. IFC will build GOM capacity to implement and monitor changes in policy.

b. GOM with wide-spread stakeholder engagement will have conducted a country-wide strategic environmental assessment based on key environmental and social sustainability criteria to aid in decision-making around hydropower development.

c. GOM and relevant basin level authorities, hyropower companies, and stakeholders will pilot procedures for cumulative impact assessment and management in one river basin in Myanmar.

d. A Hydropower Deveopers' Working Group (HDWG) for Myanmar will be created as a public-private dialgoue platform to contribute to policy change and selected hydropower companies will have adopted good international industry practices of environmental and social standards.

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.

No contact information 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/

How it works

How it works