SME Finance Forum (IFC-600795)

Countries
  • United States of America
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
Apr 13, 2015
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.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 19.60 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.
Loan Amount (USD)
$ 19.60 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.
Project Cost (USD)
$ 19.60 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 Jan 11, 2018

Disclosed by Bank May 18, 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 SME Finance Forum was created by the G20 and managed by IFC, promotes knowledge sharing, good practice and networking in SME finance. Initially funded by some of the G20 countries and the Netherlands, the SME Finance Forum will be sustained as a membership association of financial institutions, fintech companies and development banks. Further, the SME Finance Forum will become a global network of financial institutions that are committed to and will better serve the SMEs in emerging markets. The said forum aims to promote the sharing and adoption of knowledge and good practices in SME finance among its members through virtual and face-to-face knowledge events and networking events. By the end of the two-year project life cycle, the Forum expects to have at least 110 members and receive a total membership dues of at least $2 million which will then be used to provide more services to the members.
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 SME Finance Forum will become a global network of financial institutions that are committed to and will better serve the SMEs in emerging markets. The Forum aims to promote the sharing and adoption of knowledge and good practices in SME finance among its members through virtual and face-to-face knowledge events and networking events. By the end of the two-year project life cycle, the Forum expects to have at least 110 members and receive a total membership dues of at least $2 million which will then be used to provide more services to the members.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Estimated Total Budget: $19,634,638.00

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