AGL Hydro AS (IFC-601449)

Countries
  • Georgia
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
Feb 5, 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.
Borrower
Adjaristsqali Georgia LLC
The holder of the loan, grant, or other investment.
Sectors
  • Hydropower
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.12 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)
$ 0.12 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 Aug 8, 2017

Disclosed by Bank Sep 12, 2016


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Project Description
This project assists Adjaristsqali Georgia LLC, a hydropower developer in Georgia developing a hydro scheme on the Adjaristsqali River and its tributaries, to strengthen its strategy for stakeholder engagement and community investments. This will be achieved through sharing tools, lessons and international best practices.
People Affected By This Project
The objective of the project is to help Adjaristsqali Georgia LLC (AGL), a hydropower developer in Georgia developing a hydro scheme on the Adjaristsqali River and its tributaries, to strengthen its strategy for change management and demobilization of the workforce. The main areas of the strategy that will be assessed by IFC are stakeholder engagement and community investments. The objective will be achieved by sharing tools, lessons and international best practices that can help make the client's stakeholder engagement and community investment programs better aligned with the existing operational risks and opportunities. By project completion, AGL is expected to make adjustments aligned with IFC advice and recommendations to its 2 existing strategies: Corporate Social Responsibility Stratetgy and AGL Retrenchment Plan.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
*No contacts available* 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/