Nigeria SEF (IFC-600810)

Countries
  • Nigeria
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
May 30, 2017
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
Nigeria SEF
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, etc.
Project Cost (USD)
$ 3.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 26, 2019

Disclosed by Bank Apr 19, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

This project will take a primary focus on solar technologies using DFID funding at the beginning. However, funding from Denmark and Hungary trust funds will allow the project to work on other areas of sustainable energy finance (e.g. energy efficiency interventions and/or green bonds) wherever relevant.

The project plans to have four components as below:

Component 1: Disseminate the results of the solar market study, support awareness raising activities with SMEs and Corporates in target segments, and conduct business development meetings with FIs.

Component 2: Support market aggregation and pipeline development with vendors/ESCOs technology companies and project developers.

Component 3- Launch a training program for local installers and develop certification schemes to improve installation quality of solar systems of smaller size.

Component 4: Provide technical support to financial institutions (commercial banks, leasing companies, microfinance institutions, and also NBFIs) that are interested in developing a new business line of EE/RE finance with focus on solar PV financing for MSME and corporate segments.

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/