Palm Oil Value Chain (IFC-600640)

Countries
  • Colombia
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
Completed
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
World Bank Group
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 313.83 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 313.83 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 313.833
Converted using 2016-06-26 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 16, 2017

Disclosed by Bank Feb 12, 2016


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Project Description
The World Bank Group is required to follow the recommendations of the World Bank Group's Framework and IFC's Strategy for Engagement in the Palm Oil Sector prior to considering any involvement in the sector. This framework requires a thorough review of issues surrounding a sustainable growth of the sector. This project will therefore collect and validate information that will identify major issues affecting the sector and opportunities to support sustainable practices and strengthening of the supply chain. Project activities will include: 1. Data collection; 2. Analysis of regulatory framework, social conditions for smallholders and local communities, environmental and social practices implemented by the various segments of the supply chain, competitiveness of the sector; 3. Validate information collected and analysis with selected processing firms, NGOs, local authorities and producers.
People Affected By This Project
The objective of this project is for IFC to better understand the characteristics of the palm oil value chain in Colombia. This will be achieved through a comprehensive assessment of the environmental, social and economic conditions within the palm oil value chain following the World Bank Group's Framework and IFC's Strategy for Engagement in the Palm Oil Sector.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
ACCOUNTABILITY MECHANISM OF IFC/MIGA 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/