Myanmar Hydro (IFC-600637)

Countries
  • Myanmar
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
Dec 15, 2016
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
Government of the Republic Union of Myanmar
The holder of the loan, grant, or other investment.
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, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 21, 2017

Disclosed by Bank Jan 6, 2017


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Project 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
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
  • International Finance Corporation (IFC)
Contact Information
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/