SSA Climate Fin (IFC-601402)

Regions
  • Africa
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
Jun 13, 2018
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
*Borrower information not provided at the time of disclosure*
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Technical Cooperation
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)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 27, 2019

Disclosed by Bank Feb 13, 2019


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Project Description

According to IFC project disclosure information, the objective of this program is to support climate investments and help financial institutions in Sub-Saharan Africa to integrate climate finance in their lending business, i.e. extending loans to SMEs, Corporates, and households for energy efficiency, clean energy, green buildings, green housing, and climate smart agriculture investments. This is in the context of growing demand in the region for more reliable electricity supply, better equipment and machineries for production and services, less energy and water intensive commercial and residential buildings, and more resilient agri-business- which all are critical for SSA socio-economic development.

The program objective is to be achieved by:

  1. generating market intelligence on climate-smart opportunities in specific sectors that FIs target;
  2. providing technical support for FIs in building suitable strategies, aligning/improving products to serve the green finance needs of their clients, and training FI staff on climate investment due diligence, portfolio monitoring and impact reporting; and
  3. supporting outreach and awareness raising for FI target clients (i.e. SMEs, corporates, HH businesses) to understand the feasibility and benefits of climate-smart investments that can save costs and reduce environmental footprint or increase resilience capacity at the same time. Wherever relevant, the program will also facilitate partnerships with banking associations, industry associations, technical service organizations and technology providers to help with project pipeline generation for FIs to finance.
Investment Description
  • International Finance Corporation (IFC)
Contact Information

*Contact information not 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/