Financial Inclusion Bhutan (IFC-600756)

Countries
  • Bhutan
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
Apr 22, 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.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1.05 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 Aug 4, 2017

Disclosed by Bank Nov 16, 2016


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Project Description
This project aims to promote greater financial inclusion by strengthening the financial infrastructure in the country and enhancing transparency and confidence in the financial sector. The project aims to achieve this objective by: <br>1. Providing support to the Royal Monetary Authority of Bhutan (RMA) and key institutions as Credit Information Bureau (CIB) and Central Registry Secured Transactions (CRST); <br>2. Strengthening the regulatory, supervision role and governance structure for the overall credit reporting framework in the country and supporting CIB operations; <br>3. Strengthening the legal and institutional framework for secured transactions; <br>4. Strengthening the insolvency framework.
People Affected By This Project
This project aims to increase financial inclusion in Bhutan by strengthening credit information's regulatory and supervision framework, secured transactions' legal and institutional framework and governance structure, and the insolvency framework.
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/